6.17.2005

Raindance Report:
Using Tech Tools To Drive Sales

More firms are achieving sales success through technological data mining, according to a panel of experts at the LSSO Raindance Conference.

In fact, Suzanne Lowe of Expertise Marketing LLC noted that more than 25 percent of firms in one survey were now using data mining. She added that firms that used data mining in sales efforts were more than twice as likely to be successful in attracting new clients.

Lowe pointed to several examples of popular technologies in use, including: contacts databases, client relationship management software, financial analysis software, and human relationship databases (showing the connections between boards of directors, officers and other key personnel at various companies).

Steve Mauro of Thompson Hine LLP added that "support staff are a key part of sales in a true sales culture." He noted that several firm representatives in the room were engaged in sales or service initiatives, adding that firms are getting bolder in experimentation with a few even outsourcing their sales efforts.

Attorney Howard Shafer of Day Berry & Howard said that "the biggest opportunity from intelligence gathering is to change how partners sell." He asserted that partners getting support from financial data mining know better "who to call, what to say and how to follow up."

He added that lawyers should not drive the intelligence gathering efforts, but should rely on library, finance and marketing professionals who know best how to gather useful information quickly and effectively.

Learn more: For additional information on using technology tools to increase sales, see www.expertisemarketing.com. Also, check out some of the leading organizations selling technology tools for enhanced sales: www.capitaliq.com, and www.redwoodanalytics.com, and www.alm.com. To see a high-tech TrueView wrap-up of the Raindance Conference, go to www.legalinsight.com/lsso.html.

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