How is your team supposed to work from assumptions?
Years of cold prospecting can teach a salesperson a lot. Some lessons can be painful and some can be worthwhile. And frankly, a few are just painful and not worth the trauma.
The fact is, us (humans), all share a particular reward system developed over millions of years of evolution. This system is the single most important regulator behind most of our resilience and ability to work on difficult tasks for extended periods of time.
A calculated assumption based solely on an old deal in your DMS is not equity verification.
The best leaders understand this. Whether their actions are executed by design or intuition, the people following them get to be part not only of the big wins, but also and most importantly, the regular and consistent small victories (the rewards).
Handing your team a tool that is only accurate at random times undermines this natural process.
Just put yourself in the shoes of your BDC or sales team for a moment. You start the day excited and ready to crush your appointment goals. The first couple calls get ignored and you catch a couple rejections here and there. No sweat. We're in sales. We know what we signed up for anyways.
After a few more attempts a friendly voice finally answers. This could be good. We may be up to something here. A couple minutes later you learn, from your friendly prospect, that the vehicle that your mining tool claimed to be in an equity position, was in fact totaled and replaced a few months back. No chances of an appointment there.
The next prospect on your dashboard cuts you off with "take me off your list, we traded that car over a year ago". The one after that frustratingly asks “how can you lower my payment if we've paid it off already?”.
Are you seeing the pattern?
This is the general problem with equity mining today. The legacy tools in your stack may call it something else, but in most cases, they're simply presenting a calculated assumption based on a DMS snapshot that's frozen in time.
