Weekly Newsletter - 09.18.2024

AI enhances, not replaces, financial advisers

Author

The FinLearn
September 18, 2024

Sales Enablement

Tired of nearly falling into the micromanagement trap when pushing your sales team to perform? Hive Learning’s latest blog, is a must-read for sales enablement leaders who want to drive performance without adding pressure.

What you'll learn:

  • Why micromanagement doesn't work and how it negatively impacts sales performance.

  • How strategic onboarding, continuous training, and data-driven insights can help your sales reps succeed.

  • Proven sales enablement strategies to align sales training with business goals and drive measurable outcomes.

Why read it? Get insights that will help your sales team:

  • Build critical sales skills with tailored, ongoing support.

  • Use data to track performance and empower reps without the need for constant oversight.

  • Foster a culture of trust and autonomy, where high performance is accessible to everyone.

Technology

Advisers should embrace AI to enhance their work rather than fear replacement, says Dynamic Planner CEO Ben Goss. While AI can assist with data analysis and administrative tasks, it lacks the nuanced decision-making and empathy of human advisers. AI can augment, not replace, the advisory process.

Technology

Generative AI is poised to revolutionize B2B sales, offering unprecedented opportunities for growth and efficiency. Traditional sales roles, centered on building trust and minimizing friction, are being enhanced by advanced tools like generative AI. This technology promises to significantly boost productivity, with McKinsey estimating an additional $0.8 to $1.2 trillion in productivity gains across sales and marketing.

Currently, only a small percentage of B2B companies have fully adopted generative AI, but the enthusiasm is palpable. Over 85% of commercial leaders who have deployed the technology report excitement about its potential to improve efficiency, drive top-line growth, and enhance customer experiences. As generative AI becomes more integrated, it will transform sales processes, from task automation to identifying new growth opportunities and fundamentally reframing sales operations.

Three potential pathways for the future of B2B sales include:

  • enhancing productivity through task automation

  • driving growth by identifying new market opportunities

  • embedding generative AI into core sales operations.

Each pathway offers unique benefits, such as better resource allocation, reduced need for deep industry knowledge, and enhanced emotional intelligence skills among sellers.

To prepare for this AI-driven future, companies must adapt to higher expectations, shifting power dynamics favoring customers, and the need for agility. The future of B2B sales is on the brink of a profound transformation, driven by the power of generative AI.

Business Insights

A Gartner survey reveals that marketing and sales teams collaborate on only 3 out of 15 commercial activities, leading to significant inefficiencies. Improved collaboration, particularly in understanding buyer journeys and integrating digital and human channels, can double commercial success and significantly boost revenue growth.

Sales Leadership

Effective sales leadership is essential for building a high-performance sales team. Key strategies include recruiting the right talent, providing comprehensive training, and fostering a positive team culture. By focusing on these areas, sales leaders can drive revenue and achieve long-term success in a competitive business environment.

Technology Solutions

Six prominent contact center software solutions for the banking and finance industry are discussed, with a focus on important features such as security, compliance, inbound call management, outbound auto-dialing, omnichannel engagement, AI chatbots, and third-party integrations. The solutions highlighted include VoiceSpin, Five9, CloudTalk, RingCentral, AirCall, and Talkdesk.