With Augur Unbound, we pitch great stories, for companies that need it, at no cost.

 The range of new, smart banks are great. Companies like Monzo are turning bank accounts into software. And, if you want to know you’re spending too much on sandwiches, that’s all well and good.

But if you apply the same kind of insight and mechanisms to a virtual payment card for business, you hit something much more interesting.

That’s Pleo.

You create an incredibly easy way for employees to manage expenses. Location, who you’re meeting, receipts can all be managed through notifications and smartphone sensors.

It’s the kind of thing that deserves more attention, right.

That’s what Augur Unbound is for. So we helped the burgeoning Danish fintech star introduce itself to the UK market with a few choice introductions.

They made a splash, they won Pioneers, they’re now hard at work on the next challenge.

It was a pleasure to be part of their journey.

Notion Capital asked us what makes great PR for B2B Software-as-a-Service businesses.

We tried to break it to them gently that most shouldn’t even think about it until they reach the right stage.

Listen in to learn more.

We recently attended the London Stock Exchange’s Fintech Investor Forum 2017, where Ahmed Badr from GoCardless was involved in a panel on Infrastructure.

Sometimes it’s just nice to have a brief selection of notes, quotes and highlights. Read on to see what caught our attention.

Are larger investors switched on to thriving fintech opportunities

Juan Lobato, Ebury

“The reality is that even some very successful fintech cos have been going for 8 years or so and even then, it’s not clear enough that it’s a safe bet.

The company needs to be stable before you get institutional in. For many B2B finetch cos, it’s not there yet.”

Jon Prideaux, Boku

“Big investors aren’t even necessarily desirable from the startup side either. A 5% change in meeting your target can have real consequences. And you may see that if a customer ships just slightly late, which can easily happen.”

Difference between B2C and B2B fintech

Todd Latham, Currency Cloud

“Customer acquisition is substantially higher but when you get it, is more predictable, sticky, margin rich. Businesses will pay for value.”

Ronni Zehavi, Hibob

“It’s B2B2C for us. Had to build the ultimate experience for B2B with the employer. Then also handle large old-fashioned systems of suppliers. And then consumers.”

Ahmed Badr, GoCardless

“You attract different types of individuals at a B2B fintech.”

“Also, scale has a completely different meaning. 20000 customers may be poor for a B2C play, but for us that would work very well.”

Challenges

Todd L, Currency Cloud

“Competitors can become ambiguous. Look at ClearBank. They can compete but also be a partner.”

“I worked at Microsoft when Linux became a thing, and you could position against them. You don’t have that luxury here — it moves to fast and you have to be nimble.”

“It’s also too easy to get wrapped up in any single piece of news. You should drive and execute your plan. That’s where success lies.”

Juan L, Ebury (re. Brexit)

“On a beautiful day like today, people want to be in London. But we have people interested in living in Paris, in Madrid. And these cities are giving you amazing tax breaks.”

“These cities will attract talent and I don’t think it’s a bad thing out have talent spread out. And the reality is, London can only cope with so many people.”

We get it. Everyone in our business wants to be Don Draper.

Big pitch day. Stand up, leaf through the cards, standing ovation.

But then reality strikes. You do the kick off meetings and start trying to implement things, only to find that the “big idea” in your strategy isn’t possible for another year (if at all.) Or that the founders’ real passion isn’t “OPPORTUNALISING ENTERPRISE SOLUTION BEST EXCELLENCE”, but something rooted in the reality of their industry and experience.

For a couple of years now, we’ve been trying a different approach to the traditional pitch. And it’s based around a simple question:

How can a company who hasn’t spent any time with you write a realistic plan that reflects your true strength accurately?

So here’s what we do.

Phase 1: Discovery

After gathering a few top line details, we’ll talk on Zoom or Skype. Having written up interviews for places like tech.eu and Wired, we like to think we know how to ask the right questions.

The idea is to really listen carefully, pin down the specifics of the next challenge and determine what we think might conquer it. It often gives you an opportunity to learn more about us and our experience too.

If we don’t think it’s a match, we can help you find someone who is. Remember, Augur is designed for one thing: companies at Series A upwards, in “Unsexy” tech categories, looking for integrated comms against business challenges.

Alternatively, we might suggest we help out with Augur Unbound, our free service to share great stories from younger companies with key media.

Once we have what we need, we’ll start on the Strategic Spec document.

Phase 2: The Strategic Spec

This is a very simple one pager, designed to take the minimum time possible to create a first outline of what we might recommend, based on our previous experience.

It’s a starting point for you to provide feedback, to start the conversation going, instead of disappearing for weeks in Powerpoint with only the occasional question.

It includes:

  • Diagnosis — what is the problem, as we see it?
  • Guiding Strategy — what is our topline mechanism to tackle it?
  • Example Objectives and Key Results — what’s the goal and deliverables?
  • Estimated Timelines & Resourcing — how long will it take, and cost?
  • Next steps

Beat it up, tell us what you love or hate, tell us what you think of our measurement and evaluation suggestions, or how it may need to fit into other plans.

The result is designed to give you an estimate of how the plan might look, at the top level, if we start working together.

It establishes an agreed rough outline, so you know what to expect if you go ahead with the next step: The Planning Project.

Phase 3: The Planning Project

Now this is the big difference.

Augur will come to your office, spend time with you, interview key members of the team and really dig into what makes your company great. It’s about finding what you believe, holding a mirror up to your most talented people, helping identify the insights you may not even quite be aware of.

We try to find the signal in the noise.

Instead of going away and making up ideas by ourselves, we look to your strenths to build our plan. And we work with your team to identify what’s practical and possible for the first phase and further down the line.

We worth together, with just a little of your time, to flesh out the skeleton of assumptions from the Strategic Spec.

We deliver on questions like:

  • What is your pitch and key campaign ideas you will keep coming back to?
  • Who should you be introducing the company to?
  • Do we have a customer pipeline for case studies and other stories?

Once we’re done, the planning document usually looks about a dozen pages long, full of everything you need to hit the ground running.

It literally gets everyone on the same page with what to expect in the first episode of activity.

And it’s yours. In the past, we have actually recommended to one company that they take the Planning document and run with it themselves. Because it is a paid project, we are not incentivised to try and close you on a long programme, just to justify our costs on the pitch.

The resourcing costs for this project tend to be about half the anticipated monthly total we expect to end up at.

We think it makes sense, and our clients agree.

Don has earned a rest.