Earlier this month, LexisNexis (News - Alert) and Lattice Engines revealed that they signed an exclusive multiyear agreement aimed at boosting sales productivity. By Lattice integrating LexisNexis with its Big Data for sales platform, companies will be provided with timely, important insights to help increasingly close deals.
Lexis serves as a global provider of content and technology solutions, while Lattice remains a forerunner in big data for sales; combining these two couldn’t have come at a better time for sales professionals.
Lattice’s Big Data for sales platform, salesPRISM, will be made available with timely access to the latest relevant information on customers and prospects, including executive news, financial results, product introductions and competitor activity, as elaborated in a statement, which will enable sales professionals with the insight and actionable intelligence needed to make more sales and, reflectively, close more deals.
I was able to sit down with Tom Ogburn, VP and managing director, LexisNexis Business Insight Solutions, who elaborated on this agreement in more detail to explain what this actually means for sales professionals and how it will provide them with the advantages they can’t find elsewhere.
Traditionally, LexisNexis served law firms with content including various pieces of news and company information, but as they did so, they quickly realized that they could extend their services to other groups of individuals who could leverage their sources for further advantages. For the last few years, for example, groups such as librarians and journalists have been enjoying Lexis’ deep archive of sources to use beneficially in their roles.
“We’ve been asking ourselves, ‘What are the next extensions? What are the next opportunities for us to take our content to new users?’ and as we spent some time doing that we identified sales as a profession where additional intelligence really does improve performance and improve the outcome of a sales professional,” Ogburn explains.
Offering 26,000 new sources and currently covering 80 million companies, Lexis is clearly more than established to extend its reach and help sales professionals everywhere reach their unique goals.
So what distinguishes LexisNexis from the rest? Specifically, the company’s attention to detail for increased productivity.
“We wanted to design our tools – and there are several things that we’ve done – to get that content to them [sales professionals] in a way that makes the most sense or that doesn’t require them to be a researcher. So it’s about how we capitalize on that way of content and getting it to the sales professional in a way that they can really use it.”
Ogburn also pointed out that through comprehensive research, they discovered that sales professionals only prepare half the time, and yet call preparation is extremely important. “The reason is they don’t have the time to do good research or to even know how to do good research,” Ogburn explains.
With one of Lexis’ prized tools – its innovative meting prep, mobile-friendly solution “Smart Meeting” – users can do such things as identify meetings on their calendar and then automatically push briefings before the meetings so that their only task is to schedule the actual meeting. Smart Meeting integrates with Microsoft (News - Alert) Outlook Calendar to deliver access to just-in-time information on customers, prospects and business partners.
“We’re putting the content into the workflow and into context for the work person instead of having them come to us. It’s moving from a proactive approach where you’d have to come and do something to a re-active, recipient approach where you don’t have to take action; you just receive the data and act on it,” Ogburn says. This, in a nutshell, is exactly how this agreement will increase productivity and efficiency among sales professionals.
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