Sales Intelligence Blog by Lattice Engines

Recently, Lattice Engines had the pleasure of co-presenting a webinar with Vertical IQ hosted by St. Meyer & Hubbard.

The webinar entitled, Cliffnotes for Bankers: 5 Tips for Knowing Business Clients, focused on the 5 key elements you need to know before you get in front of a banking client and how to demonstrate that you truly understand that client’s business.

In this recorded webinar, Vertical IQ and Lattice Engines discuss how to:

• Discover 3 Context-Driven Conversation Pieces before each client meeting
• Investigate 3 Unique Aspects of a client or prospect’s cash flow
• Find an industry news article relating to your prospect or client in 5 Minutes or Less
• Record key learnings and create Standardized ‘Profiles’ of each client or prospect for future reference
• Create a disciplined approach for Call Preparation and Fact Gathering

Watch the recorded webinar now

How do you demonstrate understanding of a client’s business?  Please share your thoughts below.

Related:

• [Free Recorded Webinar] Boosting Business Banking: How Focus and Big Data Can Open Prospects’ Doors and Increase Cross-Sell Opportunities
• Prospecting for Business Banking – A New World [Part 2]
• Prospecting for Business Banking – A New World [Part 1]

Share and Enjoy:

• 

Our newest whitepaper, Retaining Assets: How Big Data Can Stem Big Redemptions examines why firms need to rebalance their focus on both acquiring net new assets and minimizing redemptions.

Download a free copy of the whitepaper.

Already downloaded the paper? Please share your thoughts and tips below.

Share and Enjoy:

• 

Lattice Engines we will be attending Barlow Research’s 2012 Annual Client Conference on April 24^th and 25^th, 2012 in Atlanta, Georgia.

The conference will focus on the future of business banking and we look forward to contributing to the many exciting discussions. Be sure to participate in the Innovation Showcase as we compete for the top technology disrupting the Business Banking industry. Don’t forget to vote for Lattice Engines!

If you are attending Barlow Research’s 2012 Annual Client Conference, please reach out to us on Twitter (@Lattice_Engines) and let us know.

Looking forward to seeing you at the conference.

Related Posts:

• [Webinar] Boosting Business Banking – Recap
• Prospecting for Business Banking – A New World [Part 2]
• Prospecting for Business Banking – A New World [Part 1]

Share and Enjoy:

• 

A few weeks ago, we wrote about the question of whether CRM provides more benefits to sales managers vs. sales reps.

We also shared this question in the Sales Ops Council (SOC) LinkedIn Group and received perspectives from both sides.  Here are some excerpts from this lively debate:

“It’s important to balance [SFA/CRM] so everyone can achieve a benefit. When developing your roadmap for CRM/SFA changes, ask this question and then be sure to include some of each in the priority list. Even if the change/enhancement is for the benefit of management, see how you might communicate a rep benefit also.”

“All energy needs to be towards helping the rep to sell. If they feel the purpose of the CRM is to help to sell, they will adopt the changes and everyone wins. If they feel the benefits are for management, they will rebel. If the reps are using the system, the managers will get more information than they know what to do with.”

“CRM/SFA benefits the reps more than management. We all know that many of our reps will take the “I don’t need CRM”[approach] but in many cases that’s what makes them great reps – independent attitudes and a solid level of confidence. However, the ability to provide a great tool for managing information really saves them time in the end. And a secondary benefit is the ability to transfer leads, transfer customers, territories etc., without having to start from scratch because an ex-sales rep took all his information with him, is a big benefit to all reps who have to take on a new client/territory/line.”

“The answer is simple… if the sales team uses the CRM the way that it’s designed and intended the managers benefit more. If they don’t use it that way no one wins at all. You can sell without it but you can’t be a world-class sales organization with bad data. Garbage in, garbage out.”

“Account research and planning already eats up 20-30% of a typical workday, and this figure is actually going up as sales reps confront a torrent of internal and external information about their accounts and contacts. Imagine if this raw data avalanche could be harnessed to extract the most compelling sales insights for each account – - the key nuggets that will enable sales pros to identify the most receptive customers and engage them with the most compelling messaging. When these insights about whom to contact, when to contact, and how to contact are presented to reps on an ongoing basis in CRM, you see a marked change in their attitude towards CRM. It’s now a tool helping them sell more. It’s cutting their research time down by 20%. It’s helping them make the most of their daily customer-facing selling hours.”

Let’s continue the conversation here or on LinkedIn.

Related:

‘Smart Sales Reps’ Win in the Age of Information Overload: Six Steps to Sales Effectiveness

Is SFA/CRM Every Rep’s Best Friend?

Are Sales People Being Left Out of the Social Media Revolution?

Share and Enjoy:

• 

The holiday season is a good time to capture last-minute opportunities and reflect on strategies for success in 2012. Here are 5 tips we’ve compiled since Thanksgiving:

1. Get noticed during the holiday lull

Sales consultant, Mark Hunter, noted on his blog that “[Thanksgiving] is a great week to pick up new business customers who might never have found you otherwise, but suddenly fall into your lap because their existing supplier is too caught up on the holidays to take care of business.”

This is also the time when many gatekeepers are on vacation. If you haven’t had much luck reaching decision-makers, now is the time to pick up the phone and start dialing.

2. Capture unspent budget

Unspent budgets can represent immediate sales opportunities.

In ‘Overcoming the Pre-Holiday Delay When Prospecting’, Heather Kivett, President of sales training firm Resolution Systems, says that “you can sometimes use this period for finding prospects that have money left in their budget. Certain businesses have cash leftover from a positive quarter and they need to spend it before the start of the next year or they will lose it. These are the potential buyers that need to be targeted.”

3. Develop your sales skills

What sales skills do you need to work on? What are your goals? Are you looking to think more strategically and analytically about your territory? Or, do you need help with your softer skills?

How do you rate on S. Anthony Iannarino’s ‘12 Most Critical Sales Skills for B2B Salespeople’?

4. Get Scientific

Knowledge is power. Yet, it’s hard to ‘know’ each of your customers and prospects at a sufficient level of detail to help identify near-term, high-value sales opportunities and determine the right engagement approach and messaging for key decision-makers.

Many sales teams are turning to a more scientific approach to selling by transforming raw internal, external and social media data into deep, real-time, actionable customer insight. Learn how Lattice Engines enables sales teams to operationalize data-driven selling with sales intelligence software.

5. Donate

It is easy to get caught up with stress as we near the end of the quarter. Volunteering or donating to charity is a simple way to relax and uplift your spirits.

If you don’t know where to start, try a ‘Canned Sales Meeting’, as described by Paul Castain in Selling a Second Chance.

How are you taking advantage of the Holiday Season? Please share your thoughts below.

Share and Enjoy:

• 

A few weeks ago, Andrew Somosi described an Elevator Pitch contest at the November Sales 2.0 conference. To start the day off, Gerhard Gschwandtner, the CEO of Selling Power, asked the sponsors to present a 60-second pitch about their companies to the audience. This was serious business. There was a 60-second countdown timer at the stage, and the microphone cut-out when the time was up (which happened several times). The feedback from Andrew and from other attendees was that this was a very valuable exercise. It really forced them to super-synthesize and focus on the most important and compelling points to communicate.

Having seen the positive reactions on Twitter from the audience about the pitches, I asked Andrew to deliver an encore of his pitch for the camera.

And, congratulations to Andy Shefsky  — @AndyShefsky – - from iMeet for winning the pitch contest.

Share and Enjoy:

• 

At the last Sales 2.0 conference, Social Strategies in a Social and Mobile World, Andrew Somosi (Lattice Engines) gave a presentation on what social selling really means for B2B sales. Our objective was to showcase facts and research on how actual sales professionals are engaging with social media to improve their productivity, and what companies can do to extend and enhance these existing efforts.  A key theme was that there is a lot more room to infuse science into the art of sales. This then led Gerhard Gschwandtner, CEO of Selling Power, to engage with Andrew in a discussion on what the future of sales might look like.

Here are some of the questions that Gerhard raised for discussion:

• If science enables you to ‘predict’ what a company will need and when they will make a purchase, does the rep still have a role in the buying process?
• Buyers are starting their purchase process online and are more inclined to listen to their trusted peers on social networks. How does a sales person create value in the selling process given these evolving dynamics?
• What does ‘social learning’ mean for buyers and sellers in this new world?
• What does B2B sales look like in 2020?

Watch the entire discussion between Gerhard and Andrew here:

View the full session presented by Andrew Somosi: ‘Social Selling: What’s Really in It for B2B Sales’
Read the whitepaper to learn how companies can operationalize a ‘social’ approach for their sales teams

Share and Enjoy:

• 

Lattice Engines is proud to premiere our first music video. Watch as “Barry” the B2B sales rep exceeds his quota with salesPRISM sales intelligence software. Clearly, Lattice Engines is just what he needed. Follow the buzz on twitter at #LERocks

Share and Enjoy:

• 

Lattice Engines is a rapidly growing software company, and we are looking to add smart, analytical and creative professionals to our team. In an effort to meet new candidates, we are attending career fairs at top universities all over the country.

Last week, Lattice Engines had the pleasure of attending the Fall Career Fair at Columbia University and we were very impressed with the students we saw. The candidates who stood out all had similar characteristics:

They did their homework on Lattice Engines: Those who took the time to learn about our company and our mission in sales intelligence established an immediate connection.

They were more than a name: It’s easy to leave a resume and run, but it doesn’t leave much of an impression. The candidates who stayed to speak with our team, learn about us, and highlight their past positions brought their resumes to life and were much more memorable.

They had a great attitude: A well-dressed, professional applicant with a positive attitude and smile immediately brought energy to the conversation.  In addition, those who were polite and respectful to their peers displayed the team-player attitude that we are looking for.

They came prepared (for anything): The best candidates, however, brought more than their resume and portfolio; they were ready for any question or situation thrown at them. It was clear who practiced responses to potential questions, recognized which roles were and weren’t a good fit for them, and knew which of their specific accomplishments were relevant to each position. Some were even willing to let loose and have fun with our impromptu Rubik’s cube competition. The fastest time was 1:15 seconds.

Students compete in an impromptu Lattice Engines Rubik's cube competition

Why the Rubik’s Cube? Lattice Engines sales intelligence software applies algorithms to identify meaningful patterns in raw data. The Rubik’s cube is not only a fun bit of nostalgia, but also requires an algorithm to solve it.

Are you interested in advancing your career with Lattice Engines? Apply online at http://www.lattice-engines.com/company-careers.htm

Share and Enjoy:

•