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Stock Exchange Use Case

Stock Exchanges generate revenue through various channels beyond the traditional transaction fees on trades. These include listing fees paid by companies listed on the exchange, data services selling market data to investors and firms, technology services for trading platforms, and membership fees from brokerage firms and traders. Additionally, stock exchanges may profit from providing regulatory services and facilitating initial public offerings (IPOs) and secondary offerings.

Challenges

Jordan, a mid-level sales strategist in the New York office of the stock exchange, faces a significant challenge in diversifying the exchange’s revenue streams by selling its proprietary market data to a leading investment bank. Despite their data’s high value and unique insights, the investment bank has been reluctant to engage, remaining loyal to its existing data providers and showing no interest in meetings with Jordan’s sales representatives. Breaking into this lucrative market requires a unique approach to gain the investment bank’s attention and trust.

Solution

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User Journey

  1. Strategic Insight: Jordan receives insight from the AI platform about the potential connections within the company that could help with warm introduction to the target investment bank’s CDO.
  2. Internal Networking: The platform connects Jordan with Alex and Mia, outlining their relationships and experiences. Jordan then arranges a meeting to discuss a strategy for engaging with the investment bank.
  3. Preparation and Approach: They plan a casual dinner with the investment bank’s CDO, focusing on building rapport and understanding the bank’s data needs and challenges rather than making a direct sales pitch.
  4. The Meeting: The dinner provides a relaxed atmosphere for Alex to reintroduce Jordan and Mia to the CDO, allowing them to naturally showcase the advantages and unique aspects of the stock exchange’s market data.
  5. Follow-up and Trial: Energized by the productive discussion, Jordan follows up with a tailored proposal for a trial of the stock exchange’s data services, emphasizing the insights and benefits discussed during the dinner.
  6. Contract Negotiation and Success: The trial proves successful, leading to negotiations facilitated by the newfound relationship and trust between the parties. The investment bank signs a multi-million-dollar contract for the stock exchange’s data services, marking a significant win for Jordan and the team, achieved through strategic use of personal connections and industry expertise.

Result

The dinner meeting, facilitated by personal connections and shared experiences, led to the investment bank’s agreement to a trial of the stock exchange’s data services. This trial quickly demonstrates the unique value and insights provided, resulting in a multi-million dollar contract for ongoing data services.

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