The Slintelegram is our in-house weekly newsletter carefully crafted to provide you with business alerts, acquisition news, growth stories, sales tips and tricks, marketing strategies, and technology movements.
This roundup post will showcase the most-loved stories and will be released retrospectively at the end of each month.
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Without further ado, here is what happened in the month of July.
Funding Alerts of the Month
Duolingo is going public! Well-known edtech unicorn Duolingo is going public after 129% 2020 revenue growth. Y’all really into learning languages!
Unicorn Alert! Dubai-based cloud kitchen startup Kitopi has raised $415 million from SoftBank Group Corp. Vision Fund 2.
Employee mental health platform Oliva raises $2.2M pre-seed round led. Tech executives from Amazon, Booking.com, Typeform, Hotjar, have also backed their support in the employee wellness company.
So, who acquired who this month?
Zoom to acquire real-time translation start-up Kites to make meetings happier & more productive. Get rid of the fatigue too will it?
ServiceTitan, a Los Angeles, CA-based provider of software for the trades, raised $200M in Series G financing. The round, which valued the company at $9.5 billion, was led by Thoma Bravo.
Discord buys Sentropy, which makes AI-powered software to detect and remove online harassment and hate.
In Other News This Month
Airbnb Is Spending Millions of Dollars to Make Nightmares Go Away
When things go horribly wrong during a stay, the company’s secretive safety team jumps in to soothe guests and hosts, help families—and prevent PR disasters.
IBM’s 18-month company-wide email system migration has been a disaster, sources say: The irony of digital transformation failing at an innovation mastermind like IBM is heavy. Thousands struggled with the intermittent failure of multiple messaging services. “Every IBMer has descended into a dark, chaotic pit of not being able to access email or calendars for the past 3 days…. wondering where we are??” lamented one IBM designer via a now-deleted tweet.
Google fined $592M in France for breaching antitrust order to negotiate copyright fees for news snippets: After finding major breaches in how it negotiated with publishers to remunerate them for reuse of their content — as is required under a pan-EU reform of digital copyright law which extended neighboring rights to news snippets. The Autorité de la concurrence asked Google to cough up a lot higher than it initially planned to pay.
Netflix has a ‘radical candor’ culture but fires three Executives for criticizing executives on Slack. So when they weren’t following the “you only say things about fellow employees that you say to their face policy, Netflix cleaned out half its marketing exec team without batting an eyelid.
This corner includes the favorite picks from our Editor! Be sure to keep an eye out for this, as they provide great pieces of content describing various sales lessons that can be easily applied to your everyday selling.
For July 2021, these were our subscribers’ favorite featured stories!
Sandler sales methodology: 7 steps to sales success-by David Sandler
While other sales methodologies focus on closing more sales, the Sandler sales model focuses on qualifying the lead and making sure to unite the prospect with the right process. This long process of lead qualification may also result in lesser sales closing.
But if the prospect picks the wrong product, they will realize sooner or later and find something else. So instead of focusing on upping those commissions, the Sandler sales methodology helps you pick a strong base of loyal customers thus chucking churn rate out of the equation!
The 7 steps of the Sandler sales method:
- Bonding and rapport
- Up-front contracts
To find out what each step entails and how you can leverage the same, read the blog here.
Ask Slintel – The section where you ask our experts a question and they write back
Anonymous writer: “Hey Anupreet, in my experience, sales teams usually have high attrition. This is an issue that I’m trying to resolve at my current organization, and would love to know your take on it.”
Great to hear from you, fellow sales buff!
Losing a good employee always hurts the business & more importantly, the morale of the team. But when it’s a top-seller, consequences can be dramatic. All the best sales folks I’ve seen exiting untimely out of organizations had one or more of these in common:
- Lack of empathy from managers – whether it’s a slump in their targets or a teammate they can’t get along with, when managers start answering these with a position of dismissal rather than of empathy, your top sales folks get uncomfortable.
- Lack of parity and transparency in the incentive structure – are you providing more incentives to a certain team? have you revised the structure and never mentioned why? You might have a strong reason, but your SDRs/AEs need to know them too.
- Not enough recognition and internal promotions – are you leveling up the same set of folks every appraisal cycle? Keep a check on whose efforts you haven’t recognized in a while. Close that gap asap.
- Insecurity due to a sudden change in processes/ territory/ leadership – This is one of the most overlooked reasons and yet a strong one. Over-communicate, instead of making your team feel left out.
From the Slintelegraph
This section highlights some of the picks from our blog – Slintelegraph! Here’s a sample of what was in store for July.
[Blog] 9 Sales Chrome Extensions You NEED to Download Today
Our recommendation is to reduce time spent on tasks such as scheduling meetings to write personalized email outreach and more. To do so make sure to check out this blog to find some fun Chrome Extensions to help increase productivity.
1️⃣ Vidyard – Your personal video recorder that ensures your remote selling skills are smooth like butter.
2️⃣ Crystal Knows – Your very own psychologist that provides you insights into your prospects’ personalities and what works best on them!
3️⃣ Docsify – Your very own private email tracker that gives you a heads up when your prospect opens your email, downloads an attachment, and more.
[Viral post of the month] Expert advice from a 5th Grader
We spoke to Akshara, a 13-year old, and expert on making her parents get her what she wants. And it drew likes & hearts really quick!
[Webinar recording] 1-Yr Anniversary Rambling Sessions
For our one year anniversary of Rambling Sessions, we had some of the cool sales superstars to talk about the following –
- Leveraging AI and ML to Galvanize Your Prospecting Efforts
- How to Get A Job as an AE in the B2B SaaS Industry
- Prospects vs. Buyers and Why It Matters
Make sure to check out the recording here.
Podcasts, free tools, & more
This section provides a delectable selection of podcasts to listen on the go, free tools to help increase productivity and more.
[Podcast] The Importance of Your Signature Line: In this episode of The Bill Caskey Podcast: High Impact Sales Training for Sellers and Leaders, Bill runs us through one little thing that you might be missing out on that will help you scale your email leads.
📑 [Must-Read] Amazon’s Working Backwards Philosophy — Trung Phan’s twitter thread breaks down Amazon’s writing culture for enforcing clear thinking. Why should you have an FAQ in each “press release”, or memos over Powerpoint?
🏓[Really Cool Tool] Happenstance: Expand your world. Meet new people.
Happenstance allows you to meet someone new and different, but yet kind of similar. Maybe a teacher from Japan, or a student in Europe, or a traveller in Asia, or a journalist from Africa, or a gardener, or a dentist, or an archaeologist, or a professional gamer, or…well you get it.
All the news and insights that are present in this roundup is just the tip of the iceberg. Subscribe to the newsletter here and you will have all this more delivered directly to your inbox!