Working as a UK-based SDR for a Nordic company
Edward Henlon is a UK-based Sales Development Representative who has worked at Trapets for over a year.
Before joining Trapets, he spent five years at one of the world's largest credit reference bureaus.
With over 15 years of experience in selling fraud, IDV, and cloud-based security solutions, Ed brings a wealth of expertise to his SDR role.
In this interview, Ed shares his experience working for a Nordic RegTech company and his tips on how companies can build recognition when expanding to new territories.
What's it like to work as a British SDR for a Nordic RegTech company and build recognition in a new country?
I’ve worked for several US and European companies, and I can honestly say that British nationality has never been an issue.
When establishing a presence in the UK, I am fortunate to have a fantastic team of colleagues in the UK and Sweden dedicated to supporting our growth and success in the region.
Building brand recognition is important because this is how our clients will know what we can offer on a broader scale. It requires considerable investment in both online/social media platforms and being part of in-person events like tradeshows and exhibitions.
However, not everyone can do this because the cost and return on investment aren’t always guaranteed.
The culture in the UK is not that dissimilar to Sweden. You can't simply expect to pick up the phone and cold call somebody and get a "Yes, I'm interested" right away.
Work must be done to establish your buyer groups and decision-makers within a company. Tailored messaging is also the best approach when reaching out via email and social channels; leveraging your network is always a good start.
But the most crucial part is being there at the right place and at the right time. I know it sounds cliche, but it is the truth!
I see Trapets as a ''need to have'' instead of a ''nice to have'' solution, as fighting financial crime will never disappear.
At the same time, the regulative sectors need to stay on their toes with regulation changes and new laws surrounding PEPs, as sanctions will come into effect soon in the UK and EU.
What are your three tips for businesses that want to expand to a new country?
Based on my experience, I would say the following:
- Understand your target customers and the local business requirements from a regulatory and compliance standpoint. It's essential to understand our potential clients' needs and challenges and how our products can help them meet their goals and obligations.
- Conduct market research regarding the behaviour and preferences of the decision-makers and influencers. Moreover, you need to understand your competitors and their offerings well. We are constantly reminded of the harsh economic climate in the UK, and pricing sensitivity must be factored into conversations very early on. As an SDR, I have to tailor my approach and messaging accordingly and demonstrate the value and ROI of our solutions.
- Forming new partnerships and alliances is crucial. It can provide leverage when approaching clients and increase your credibility and visibility in the market. We have partnered with some of the leading industry associations and events in the UK, such as the RegTech Summit and the AMLP Forum, to showcase our thought leadership and expertise in our area of financial crime prevention.
What was your biggest culture shock when you visited Sweden?
I have visited Sweden several times and always enjoyed the experience.
I've only been to Stockholm and Åre, but the people are very friendly and professional. I find the culture is very collaborative and innovative but very humble and non-egotistical.
One thing that surprised me was the talking bins equipped with a loudspeaker that says "Thank you" in Swedish when you deposit your rubbish. I thought that was a nice touch and a clever way to encourage people to keep the environment clean.