How Top Teams Win in Today's Social Buying Environment
•Descargar como PPTX, PDF•
1 recomendación•503 vistas
Presentation delivered at LinkedIn's Empire State Building Office
Recomendados
Recomendados
Más contenido relacionado
La actualidad más candente
La actualidad más candente (20)
Destacado
Similar a How Top Teams Win in Today's Social Buying Environment
Similar a How Top Teams Win in Today's Social Buying Environment (20)
Último
Último (20)
How Top Teams Win in Today's Social Buying Environment
- 1. How Top Sales Teams Win in Today’s Social Buying Environment Tynan Fischer Chief Operating Officer New Horizons Alex Wolin Head of Enterprise East – Sales Solutions LinkedIn John Mayhall Head of SMB East – Sales Solutions LinkedIn Ateet Dave Sales Product Consultant LinkedIn
- 2. Agenda: Introducing Social Selling Purpose Implementation Measurement
- 3. Earliest Adopter Kimberly Niehaus Most Popular Debbie Ingram Most Connected Josepf Haslam
- 4. LinkedIn Enterprise Value Proposition Hire We have transformed the world of recruitment. Sell Leverage the power of relationships. Market The best place on the web to reach professionals 4
- 5. Purpose of Social Selling
- 6. Social selling is simply the process of helping social buyers become customers. - Forbes
- 7. Pricing + discounting Consideration list formulated Buyers have come a long way Individual buyer Traditional buying process Social buying process First contact with vendor Pricing + discounting Online due diligence Social Consideration list formulated First contact with vendor recommendations Buying team
- 8. The Buying Process has Fundamentally Changed 5.4 people involved in B2B decision 60% of the decision process is complete before engaging 90% of decision makers never respond to cold outreach Corporate Executive Board 2013 – Winning The Consensus Purchase Corporate Executive Board 2012 – New Decision Timeline Harvard Business Review 2012 – The End of Solution Selling
- 9. By 2015, the 20% of enterprises employing social media beyond marketing will lead their industries in revenue growth. - Gartner, Social Is Here – Where’s the ROI?
- 10. Introducing the Social Selling Index (SSI) Create a professional brand Find the right people Engage with insights Build strong relationships Each of the four categories is scored from 0 – 25 making up a maximum total score of 100; LinkedIn’s Social Selling Index
- 12. Implementation of Social Selling
- 14. A Social Selling Story Tynan Fischer, COO, New Horizons Cold calling was becoming less effective; reps were finding that their leads were already halfway through the buying process. Implementation of social selling practices to build team’s social media presence, find leads and engage insightfully. Challenge Solution
- 15. First, re-imagined reps’ profiles as branding opportunities Complete profile – including picture Multimedia & blog posts Buyer-centric language
- 16. Next, implemented ‘Social Hour’ for prospecting Reps spend from 4pm to 5pm every day identifying 10 leads on LinkedIn, spending 3 minutes on each profile to learn about the person and then reaching out.
- 17. Then, engaged in social listening & content distribution Social Listening Content Distribution
- 18. Finally, reps grew relationships with prospects & customers Avg. # of connections per New Horizon rep on Sales Navigator 338 585 + 73% Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14
- 19. A Social Selling Story Tynan Fischer, COO, New Horizons • 1.7M in opportunities in 6 months • 57% close rate; ~1M in revenue attributable to social selling • $25k deal within 5 days after approaching a prospect via InMail Challenge Solution Results Cold calling was becoming less effective; reps were finding that their leads were already halfway through the buying process. Implementation of social selling practices to build team’s social media presence, find leads and engage insightfully.
- 20. Measurement of Social Selling
- 21. Effort x Effectiveness Effort Work Hard, Work Smart Effectiveness
- 22. Tynan measured many metrics to help his team transition to social selling Blog readership on LinkedIn # of individual connections Daily / monthly searches Lead click throughs # of # of contacts added to CMS opportunities added to CMS Change in organic search ranking # of testimonials per week % increase in direct traffic Social Selling Index
- 23. Matching the increase in pipeline, Tynan’s team saw a dramatic increase in their Social Selling Index 39 60 + 54% Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14
- 24. The Social Selling Index (SSI) measures how well your team has embraced social selling Leaders Laggards 0 100
- 25. We created SSI based on a combination of survey research and behavioral analytics Conducted survey of ~5000 sales reps to identify sample of “top performing” reps Brainstormed & calculated ~ 50 activities that good social sellers might do on LinkedIn Built formula based on what top performing reps do on LinkedIn.com – keeping variables correlated with sales success
- 26. We identified activities that are predictive of rep success… More predictive activities Connection requests Engagements (rec.) Internal connections VP + connections Connections People searches Inbound profile views Endorsements (rec.) Engagements (given) Advanced searches Profile length Shares Groups followed Profile completeness PV Rich content on profile Prospecting PV InMails sent Companies followed
- 27. So that SSI is predictive of sales success SSI leaders create 45% more opportunities per quarter than SSI laggards. SSI leaders are 51% more likely to hit quota than SSI laggards. 45% more opportunities 51% more likely to hit quota
- 28. SSI measures your performance across the four pillars of social selling Social Selling Index 60.2 Create a professional brand Find the right people Engage with insights Build strong relationships 17.2 15.1 9.7 18.3 Social Selling Index measures adoption of LinkedIn social selling practices on a 0-100 scale Performance on four key dimensions, each worth 25 points New Horizons Sales Navigator Users
- 29. For New Horizons, the largest increases in SSI were in engaging with insights and building relationships 7/1/2014 7/1/2013 +80% +90% Create a professional brand Find the right people Engage with insights Build strong relationships +24% +51%
- 30. It’s hard to transform an entire organization - Tynan’s team had some laggards Distribution of SSI of Tynan’s team 0 10 20 30 40 50 60 70 80 90 100 SSI Tynan’s team
- 31. But Tynan’s team is far ahead of most sales professionals Distribution of SSI of sales professionals 0 10 20 30 40 50 60 70 80 90 100 World avg SSI Tynan’s team
- 33. What elements of SSI are attendees great at – and which could be improved? Strengths Opportunities • Expanding your networks • 89% of possible points captured • Being endorsed for skills • 86% of possible points captured • Completing your profiles • 84% of possible points captured • Prospecting with advanced search • 12% of possible points captured • Showcasing content on your profile • 13% of possible points captured • Interacting with your network • 16% of possible points captured
- 34. If you can’t measure it, you can’t manage it. - Peter Drucker
- 35. What’s next? Get Your Relationship Report! Contact your Account Executive or Simone Van Cleve at svancleve@linkedin.com
Notas del editor
- Thank you all so much for joining us this morning. Good morning! My name is Alex Wolin, and I head up the Enterprise East Group for LinkedIn’s Sales Solutions team. The goal of this seminar today is to attempt to educate, inspire, and guide all of you on the why, the what, and the how of Social Selling.
- Today, we’ll discuss three elements of the transformation to a social selling process. We’ll do this in 3, 45 minute blocks. The first block we’ll walk you all through why Social selling for B2B sales teams is so imperative, then our guest of honor a customer will walk us through how he implemented a social selling program, and then we’ll help you understand how to go about measuring After a short break, TO ADD COLOR TO THESE THREE AREAS we’ll walk you through a day a live demonstration of LinkedIn’s Standalone Experience for Sales Professionals, Sales Navigator followed up by QA with our guest of honor The final 45 minute block is elective. We’ll have some refreshments, and we’ll have a photographer here who can snap off An upfront reminder one thing, please remember to fill out your evaluation forms before you leave. We’d value open, honest, constructive feedback from everyone here.
- Earliest Adopter – Kimberly Niehaus, General Manager, Global Head of Law Firm Markets, Gerson Lehrman Group, member #308896 Most Connected – Josepf Haslam, Director of SEO & Social Media Marketing, EducationDynamics, LLC Most Popular – Debbie Ingram, Director of Marketing, Compunnel Software Group Most Endorsed – Julee Held McGuinness, VP Business Development, RR Donnelly
- Linkedin’s Enterprise value proposition is to transform the way companies hire, market, and sell by leveraging the power of LinkedIn's network. 1) Our hire business, which is our largest, helps companies with their talent acquisition strategies. 2) The Marketing business focuses on delivering sponsored content. We have millions of sales professionals like yourselves on the linkedin network who were clamoring for us to build something for them, so about 2.5 years ago we decided to launch an offering designed and built for the sales professional. Our dream is to elevate the sales profession. We believe that social selling and using the power of linkedin, we can change an entire profession. We can actually have a generation of people aspire to becoming sales professionals.
- In the new buyer’s process, buyers are going online to research the potential vendors first. Then, with a narrowed down list, they’ll ask their network for recommendations. Then they’ll reach out to the vendor. A sa result, sellers are being brought into the buyer’s process later than ever – 57% of the way through the buyer’s process, according to CEB
- Basic reason we are here is revenue. As sales leaders, it’s our responsibility to drive revenue growth for our enterprises. And that’s what social selling does – helps you leverage social media to outperform the competition
- My name is John Mayhall, I run the Small/Medium business team in the East next to Alex. I joined Sales Solutions recognizing a unique opportunity to write the book on Social Selling from the standpoint of a front-line manager. Like Tynan, I realized the ceiling in the traditional outreach methods, so wanted to take part in finding new ways to help buyers and sellers engage, Anyone who has been a front line manager can tell you, there are a few things that keep us up at night. Am I getting 100% effort from my team and are we spending our time in the right places? I think of this as the effort and effectiveness dimensions. And we see the compound effect of people that work hard and work smart, they’re our top performers and we try tirelessly to copy and paste what’s working for them. But ultimately, I think managers, especially inside sales managers begin to over-index on effort because it’s the most measureable and controlable. It can be counted in terms of calls, emails sent, meetings set, etc. But there’s simple a physical limit on how much anyone can do. And there’s also an emotional capacity we hit when the effort isn’t rewarded with desired outcomes. But effectivness is harder to measure. Great reps lead with insight, build trust, are knowlegdeable and resourceful. How can we measure this?
- Basic reason we are here is revenue. As sales leaders, it’s our responsibility to drive revenue growth for our enterprises. And that’s what social selling does – helps you leverage social media to outperform the competition