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Robert Koehler
Sales Performance Consultant
LinkedIn
LinkedIn Confidential ©2013 All Rights Reserved
Social Selling Resear...
“Best-in-Class sales reps (reps that deployed social
selling) companies saw a 16.3% average year-over-
year increase in to...
“Sales professionals are 79% more likely to attain their
quota than those that don’t use social selling”
Aberdeen Group, M...
ORGANIZATION NAME
Aberdeen Research Brief
Social Selling Research
I In April and May 2012, Aberdeen Research surveyed 173 ...
ORGANIZATION NAME
Aberdeen Research Brief
Social Selling Research
In Best of Class companies, 70% of respondents engage
cu...
ORGANIZATION NAME
Social Selling Research
 Two out of three CXO level decision makers want to engage
digitally vs. in per...
ORGANIZATION NAME
Social Selling Research
SBI conducted over 12,500 Buyer Surveys last year across 19 different
industries...
ORGANIZATION NAME
Social Selling Research
 As noted in the recent Harvard Business Review article, “Tweet Me,
Friend Me, ...
ORGANIZATION NAME
Social Selling Research
Frost & Sullivan 2011 Sales Leadership Priorities Survey Results; 119 sales exec...
ORGANIZATION NAME
What is social selling?
 That is what social selling really means. ~80% of purchase
decisions are based...
ORGANIZATION NAME
Sales tool that provide insight about prospects see
results
Businesses that invest in sales tools to pro...
ORGANIZATION NAME
The New Buying Process
“Buyers aren’t just more informed, they’re busier. A 2012 survey by
International...
ORGANIZATION NAME
The Rise of Social Selling_Sales Benchmark Index
http://www.salesbenchmarkindex.com/bid/100894/The-Rise-...
ORGANIZATION NAMELinkedIn Confidential ©2013 All Rights Reserved 14
ORGANIZATION NAME
Evolve IP
www.evolveip.net
LinkedIn Confidential ©2013 All Rights Reserved 15
ORGANIZATION NAME
“80% of sales leads are wasted and 80% of sales time is spent cold-
calling and prospecting”
“30% of sal...
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Social selling research

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Transcript of "Social selling research"

  1. 1. Robert Koehler Sales Performance Consultant LinkedIn LinkedIn Confidential ©2013 All Rights Reserved Social Selling Research
  2. 2. “Best-in-Class sales reps (reps that deployed social selling) companies saw a 16.3% average year-over- year increase in total company revenue, compared to a 4.1% increase for the Industry Average and a 8.7% decrease among Laggards” “Social Selling: Best-in-Class Targeting of the Right Message, at the Right Time, for the Right Person” Aberdeen Group, July 2012. LinkedIn Confidential ©2013 All Rights Reserved 2
  3. 3. “Sales professionals are 79% more likely to attain their quota than those that don’t use social selling” Aberdeen Group, May 2012. LinkedIn Confidential ©2013 All Rights Reserved 3
  4. 4. ORGANIZATION NAME Aberdeen Research Brief Social Selling Research I In April and May 2012, Aberdeen Research surveyed 173 end-user sales organizations to understand how the top performers among them use Social Media. They used performance metrics to differentiate between Best-In-Class (top 20%), Industry Average (middle 50%) and Laggard (bottom 30%). What they found:  Reps achieving quota in last calendar or fiscal year: BIC=79%, Ind Avg= 43%, Laggards= 15%  YOY increase in total company revenue. BIC= 16.3% incr., Ind Avg= 4.1%, Laggards= 8.7% decline  YOY increase in average deal size or contract value: 0.7%, Ind Avg= 1.7% increase, Laggards= 6.6% decline  Average sales cycle: BIC=0.7%, Ind Avg= 0.2%, Laggards= 5.3% 4
  5. 5. ORGANIZATION NAME Aberdeen Research Brief Social Selling Research In Best of Class companies, 70% of respondents engage customers through personalized social experiences “Keeping sales professionals engaged by providing them with not only the most contemporary social tools, but also with proof that they are effective, is surely a welcome sales enablement best practice” 5
  6. 6. ORGANIZATION NAME Social Selling Research  Two out of three CXO level decision makers want to engage digitally vs. in person with sales (Sirius Decisions Summit, Scottsdale 2012) LinkedIn Confidential ©2013 All Rights Reserved LinkedIn Sales Solutions
  7. 7. ORGANIZATION NAME Social Selling Research SBI conducted over 12,500 Buyer Surveys last year across 19 different industries. We’ve synthesized the output into our Annual Research Project. (August 20, 2012)  In almost 75% of sales situations, your Customer would prefer not to spend time meeting face to face. Our research shows they want to engage virtually. Why aren’t you making it easy for them?  By eliminating travel time, your sales force can become up to 150% more efficient  You are no longer a slave to geography, and can re-align your team by vertical, by tier, or by type of product sold  Inside Sales drives Customer Acquisition Cost (CAC) out of your business model, which increases your profitability and may even allow you to re-evaluate your Average Sales Price (ASP) so you can gain entry into the marketplace at a more attractive point. How much does your outside sales force add to your costs? LinkedIn Confidential ©2013 All Rights Reserved LinkedIn Sales Solutions
  8. 8. ORGANIZATION NAME Social Selling Research  As noted in the recent Harvard Business Review article, “Tweet Me, Friend Me, Make Me Buy”, “more than 90% of C-level executives said they ‘never’ respond to cold calls or e-mail blasts,” but sales people are seeing a high rate of response to social media (www.ASTD.org, August 13 2012) LinkedIn Confidential ©2013 All Rights Reserved LinkedIn Sales Solutions
  9. 9. ORGANIZATION NAME Social Selling Research Frost & Sullivan 2011 Sales Leadership Priorities Survey Results; 119 sales executives in North & South America http://www.frost.com/prod/servlet/cio/234345213  Top challenge: Identifying and qualifying high-potential prospects (36%) LinkedIn Confidential ©2013 All Rights Reserved LinkedIn Sales Solutions
  10. 10. ORGANIZATION NAME What is social selling?  That is what social selling really means. ~80% of purchase decisions are based on recommendations. You need to be part of that "recommendation Chain". If you and your products are not recommended, you need to settle for the 20% of the deals that where based only on price or other random mechanism you have no control over.  In other words, here is my definition of social selling: "Social selling is a sales technique, leveraging social media, to get and maintain a 360 degree picture of the clients and their influencer on an ongoing basis. It allows sales people to manage and maintain 5 times as many active customers compared to traditional techniques. Social selling allows an average sales person to become a top performer simply by using tools and techniques that allows them to socialize in a way that was only accessible to the top sales guard in  Source: Axel Schultze, www.customerthink.com, October 23, 2009 (also Chairman of the Social Media Academy) LinkedIn Confidential ©2013 All Rights Reserved LinkedIn Sales Solutions
  11. 11. ORGANIZATION NAME Sales tool that provide insight about prospects see results Businesses that invest in sales tools to provide more insight about prospects see results:  71% year over year improvement in sales cycle time  51% year over year improvement in lead conversion rates  54% year over year improvement in the percent of sales reps achieving quota Source: Aberdeen Group, Sales Intelligence: The Secret to Sales Nirvana, January 2009 LinkedIn Confidential ©2013 All Rights Reserved LinkedIn Sales Solutions
  12. 12. ORGANIZATION NAME The New Buying Process “Buyers aren’t just more informed, they’re busier. A 2012 survey by International Data Corporation found that B2B technology buyers receive an average of 6 phone calls and 14 emails per day from vendors. Since they’re inundated with data and sales pitches, it’s not surprising that the IDC’s respondents return a paltry 10.5% of phone calls and 9% of emails from new vendors. Now that informed buyers can thoroughly research their own options, a call from a new sales representative can be more of a nuisance than a service” “The number of people involved in a large technology purchase increased from five in 2010 to seven in 2012”. Hootsuite blog, February 28, 2013 LinkedIn Confidential ©2013 All Rights Reserved LinkedIn Sales Solutions
  13. 13. ORGANIZATION NAME The Rise of Social Selling_Sales Benchmark Index http://www.salesbenchmarkindex.com/bid/100894/The-Rise-of-Social-Selling August 14, 2013  4.4% - email open rates (source: Google). Batch and blast email campaigns don’t work. Your buyers (and you) are saturated with emails every day. If you think you can outshout hundreds of others via email, good luck.  1-3% - cold calling appointment rate (source: American Association for Inside Sales Professionals). When was the last time you answered your desk phone? An unknown call to your mobile phone? If you’re spending on tele-prospecting, you’re better off throwing it out the window.  84% - # of B2B decision makers who begin their buying process with a referral (source: Edelman Trust Barometer). Ask yourself what you did the last time you entered the market with a need. Maybe a new sales or marketing leader. A potential venture capital or private equity firm. Did you take a cold call? Respond to a recruiter’s email? Or, did you pick up the phone and call someone you know for help? LinkedIn Confidential ©2013 All Rights Reserved LinkedIn Sales Solutions
  14. 14. ORGANIZATION NAMELinkedIn Confidential ©2013 All Rights Reserved 14
  15. 15. ORGANIZATION NAME Evolve IP www.evolveip.net LinkedIn Confidential ©2013 All Rights Reserved 15
  16. 16. ORGANIZATION NAME “80% of sales leads are wasted and 80% of sales time is spent cold- calling and prospecting” “30% of sales reps turn over every year” LinkedIn Confidential ©2013 All Rights Reserved LinkedIn Sales Solutions
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