Company Description

Coinbase is a secure online platform for buying, selling, transferring, and storing cryptocurrency (crypto). The company is deeply rooted in the technology industry as it utilizes keywords such as software, digital currency, payment processing, API, and cryptography in its operations. The company primarily focuses on trading and processing digital currencies, including popular ones like Bitcoin and Ethereum. They also work with newer technologies like the Ether blockchain.

Coinbase has a mission of creating an open financial system for the world and aims to be the leading global brand for helping people convert crypto into and out of their local currency. With a strong workforce of approximately 4600 employees, Coinbase seeks to make digital currency accessible to everyone and promotes financial freedom.

Besides facilitating transactions involving cryptocurrency, coinbase also identifies itself as an online media company. They play an instrumental role in the fintech industry, furthering the use and acceptance of virtual currency across global markets.

The company has a record of acquiring firms to strengthen its capacity and footprint in the digital currency space. One notable acquisition was the New York-based digital asset trading firm Tagomi, which cost of between US$75 and $100 million.

However, Coinbase has also faced challenges and controversies. The platform was subject to lawsuits for security incidents involving loss of client funds due to hacking. Another notable situation was when the Securities and Exchange Commission sued Coinbase in June 2023, alleging it had illegally operated as an exchange, broker-dealer, and clearing agency, and offered and sold unregistered securities.

Despite these challenges, Coinbase remains a significant player in the world of digital currency. The company is committed to providing an easy and secure process for its users to open an account and start trading, similar to how one would open a new bank account. They continue to navigate the evolving landscape of crypto and blockchain technology as they strive to fulfill their mission.

Step 1: Identify Target and Set Sales Goals

Target: Coinbase

Estimated number of Employees: 4600

Industry: Online media

Sales Goals:

1. To secure an initial meeting with the key decision-makers at Coinbase.
2. To demonstrate how our B2B SaaS solution can address Coinbase's operational challenges.
3. To formalize a contract with Coinbase within a specified time frame.

Step 2: Understand the Client's Pain Points and Needs

Coinbase's main pain points include:

1. Security Issues and Customer Support: Coinbase has encountered significant security breaches leading to financial losses for their customers and dissatisfaction with their customer service responses⁴.
2. Legal and Regulatory Compliance: There have been legal actions against Coinbase by the SEC due to allegations of operating unlawfully⁵.
3. Internal Conflict and Brand Image: Coinbase has faced backlash from its employees around their stance on societal issues, potentially affecting their internal culture and public image³.
4. M&A Integration: Coinbase could potentially face challenges integrating bought companies into their current operations³.
5. Evolution of Regulatory Policies: As a leader in the crypto market, Coinbase is subject to continually changing and complex regulations².

Step 3: Product/Service Positioning

Our B2B SaaS solution is positioned to help Coinbase by:

• Implementing robust security measures and improving customer support interactions.
• Enhancing regulatory compliance management to keep up with legal requirements.
• Fostering a unified workplace culture and improving public perceptions of the brand.
• Streamlining M&A integration processes.
• Providing a compliance management system adaptable to changing regulatory landscapes.

Step 4: Key Selling Points

Our key selling points include:

• Our robust cybersecurity measures will help protect Coinbase's client data.
• Our advanced CRM solutions will improve the quality and timeliness of customer service responses.
• Our cultural assessment and advisory services can help unify Coinbase's internal culture.
• Our tested M&A integration strategies will minimize the impact of these activities on business operations.
• Our dynamic compliance management system will ensure Coinbase stays up to date with legal requirements.

Step 5: Prospect Approach

Our approach to prospecting Coinbase will be:

1. Initiate contact with a decision maker at Coinbase via a personalized email or LinkedIn message, discussing their challenges and offering our solutions as a potential remedy.
2. Follow-up with a phone call to set up a meeting/call if no response is received.
3. During the meeting, present our tailored SaaS solution specific to Coinbase's pain points, demonstrating how our services will bring value to their operations.
4. Close meeting with a clear next step and timeline for decision making.
5. Follow-up regularly until the sale is made.

Step 6: Objections and Rebuttals

Anticipated objections could be around cost, implementation time, trust in a new vendor, etc. Each of these will be handled with factual information about our ROI, successful past implementations, and references from satisfied customers.

Step 7: Closing Strategy

After satisfactorily addressing objections, propose a no-obligation trial, or a pilot phase, to demonstrate the effectiveness of our solutions in addressing their pain points.