Hearsay Social's Innovation Summit: Succeeding in the Relationship Era

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Hearsay Social's Innovation Summit: Succeeding in the Relationship Era …

Hearsay Social's Innovation Summit: Succeeding in the Relationship Era

Presented by Clara Shih

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  • Cover Slide:Thanks to the explosion of social and mobile, this is a seminal time for marketers. A transformational time that will define a company’s future and define careers. These opportunities only come around once a decade, and right now thanks to Zuck, Ev, and Reid, we as marketers have an opportunity to truly differentiate our organizations and ourselves from “everyone else.” <Voice over on cover slide>
  • Slide: Facebook & FaceconnectorMy own journey into social business started six years ago after a Facebook app I had created for fun “went viral” and I experienced first-hand just how quickly ideas can spread on social media. Within a few hours, Forrester Research had broken the news about how my app had “kicked started the social enterprise movement.” Days later, I found myself with a book deal, and the rest is history. Over the last six years as Facebook and LinkedIn have grown from 1M users to 1B users and become publicly traded companies, so too has Hearsay Social grown from two of us working out of my living room to now a global software company enabling tens of thousands of Fortune 500 salespeople to do business in the social era.What made Facebook and LinkedIn different was “real identity”—initially enforced through which email domain you signed up with. Real identity seems like such a simple pivot, but the trust that comes with real identity has completely transformed the Web. We have gone from an anonymous Web—eg JDoe1234 on AOL Instant Messenger or some online forum—to a 1:1 mapping between our offline identity and online identity. Our LinkedIn and Facebook profiles are our online identity.Social media has changed how people buy, so we need to change how we sell. Otherwise you become irrelevant. Old methods like email, cold calls, and direct mail just don’t work anymore. When you talk about how e-mail and calling is no longer working and are viewed as spam; I find it helps to talk about how social as a medium, has automatic checks and balances built in to prevent this from happening. If people don't like what you're saying as a brand, they block you. If they don't like a post, they tag it as spam and the social network takes care of the rest. Brands and individuals need to make sure the people they're connected with, value what they say; otherwise they turn you off. It makes them realize that social isn't a fad and won't be like e-mail marketing in 5 years.
  • Slide: Facebook & FaceconnectorMy own journey into social business started six years ago after a Facebook app I had created for fun “went viral” and I experienced first-hand just how quickly ideas can spread on social media. Within a few hours, Forrester Research had broken the news about how my app had “kicked started the social enterprise movement.” Days later, I found myself with a book deal, and the rest is history. Over the last six years as Facebook and LinkedIn have grown from 1M users to 1B users and become publicly traded companies, so too has Hearsay Social grown from two of us working out of my living room to now a global software company enabling tens of thousands of Fortune 500 salespeople to do business in the social era.What made Facebook and LinkedIn different was “real identity”—initially enforced through which email domain you signed up with. Real identity seems like such a simple pivot, but the trust that comes with real identity has completely transformed the Web. We have gone from an anonymous Web—eg JDoe1234 on AOL Instant Messenger or some online forum—to a 1:1 mapping between our offline identity and online identity. Our LinkedIn and Facebook profiles are our online identity.Social media has changed how people buy, so we need to change how we sell. Otherwise you become irrelevant. Old methods like email, cold calls, and direct mail just don’t work anymore. When you talk about how e-mail and calling is no longer working and are viewed as spam; I find it helps to talk about how social as a medium, has automatic checks and balances built in to prevent this from happening. If people don't like what you're saying as a brand, they block you. If they don't like a post, they tag it as spam and the social network takes care of the rest. Brands and individuals need to make sure the people they're connected with, value what they say; otherwise they turn you off. It makes them realize that social isn't a fad and won't be like e-mail marketing in 5 years.
  • Oct 4, 2012 Facebook reached 1B active users Facebook reached 55%  of the world’s global audience accounting for roughly 75% of time spent on social networking sites and one in every seven minutes spent online globally The average Facebook user spends 700 mins per month on the site
  • Oct 4, 2012 Facebook reached 1B active users Facebook reached 55%  of the world’s global audience accounting for roughly 75% of time spent on social networking sites and one in every seven minutes spent online globally The average Facebook user spends 700 mins per month on the site
  • Oct 4, 2012 Facebook reached 1B active users Facebook reached 55%  of the world’s global audience accounting for roughly 75% of time spent on social networking sites and one in every seven minutes spent online globally The average Facebook user spends 700 mins per month on the site
  • Left hand side: <self-service e-commerce website> Highly commoditized goods and services (buy on price)Right-hand side: <sales rep LinkedIn profile>Complex, high price point, actual human service, requires a trusted advisor to guide them through the process A lot of middlemen got disintermediated by the Internet. Mostly they were reps who sold commoditized products or people who missed out on getting a smartphone and email account and got outcompeted by peers.
  • Left hand side: <self-service e-commerce website> Highly commoditized goods and services (buy on price)Right-hand side: <sales rep LinkedIn profile>Complex, high price point, actual human service, requires a trusted advisor to guide them through the process A lot of middlemen got disintermediated by the Internet. Mostly they were reps who sold commoditized products or people who missed out on getting a smartphone and email account and got outcompeted by peers.
  • Left hand side: <self-service e-commerce website> Highly commoditized goods and services (buy on price)Right-hand side: <sales rep LinkedIn profile>Complex, high price point, actual human service, requires a trusted advisor to guide them through the process A lot of middlemen got disintermediated by the Internet. Mostly they were reps who sold commoditized products or people who missed out on getting a smartphone and email account and got outcompeted by peers.
  • Oct 4, 2012 Facebook reached 1B active users Facebook reached 55%  of the world’s global audience accounting for roughly 75% of time spent on social networking sites and one in every seven minutes spent online globally The average Facebook user spends 700 mins per month on the site
  • Slide: Everyone is on the Marketing TeamWhat this means for marketing organizations is1. Understand that in the age of social media, everyone is on the marketing team <show different profiles from an organization>
  • Slide: Everyone is on the Marketing TeamWhat this means for marketing organizations is1. Understand that in the age of social media, everyone is on the marketing team <show different profiles from an organization>
  • Slide: Give them Great Content3. The old way to reach 10,000 people or 1M people was to buy a list or run a TV ad, but today buyers are desensitized to messages from people they don’t know. Unless you are a really sexy CPG brand, people will tune out. The only way that works today is to get your message out through trusted networks of influence. Social media is ideal because of email fatigue and ease of sharing.This means creating highly sharable content and perhaps reaching those 10,000 or 1M people through several hops- first your reps share, then their first-degree connections share, and so on. Content is the currency of social media and relationships are the distribution mechanism. <show screenshot of post with “Share” button circled>
  • Slide: Action plan for activating a social sales force.1. Corral the chaos- Rogue Page Finder and configure desired brand/governance rules such as no profanity or pre-approval workflow2. Customer success onboarding and training3. Activate your army of marketers4. Drive sales productivity and effectiveness through Social Signals5. Analytics- see what’s resonating and what’s being talked about in different regions and use this to drive your forward strategy for future campaigns on and off social

Transcript

  • 1. Innovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 1
  • 2. Succeeding in the Relationship Era How LinkedIn and Facebook Have Rewritten the Rules of Sales and MarketingClara Shih, CEO@clarashih2.27.13
  • 3. Hearsay Social: The World’s Most Trusted Social Sales and MarketingThe Complete Social Media Solution for Field Organizations 50,000+ reps : 9M+ client relationships supported social media : 8 countries Innovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 3
  • 4. Our Mission: Deliver Social Media Success Across the Enterprise 45,000+ Happy Users and Counting 100% Success Rate for Organizations LOVED Equally by Advisors, Marketing, Compliance, and IT “Hearsay Social enables us to engage and sell the way today’s clients want to buy.” — Head of Private Client Services, Fortune 200 Financial FirmInnovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 4
  • 5. A New Trust and Communication ParadigmInnovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 5
  • 6. Innovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 6
  • 7. 1970s 1980 1994Innovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 7
  • 8. Innovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 8
  • 9. Innovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 9
  • 10. To what extent do you trust the following, June 2012Innovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 10
  • 11. Trust and Influence Have Shifted from Institutions to IndividualsInnovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 11
  • 12. Internet 1.0 was About Replacing Human CapitalInnovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 12
  • 13. Social Media is About Enhancing Human CapitalInnovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 13
  • 14. Internet “Direct” Selling vs. Human Capital Relationship-Based Selling Sell Direct Sell Through Trusted AdvisorHighly commoditized goods and services Complex, high price point, requires explanation Customer buys on price Customer buys on trust Separate channel Enhanced channel Innovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 14
  • 15. 5 Ways You Can Help Your Advisors Succeed in the Relationship Era 1 Be findable 2 Be the trusted advisor and teacher 3 Deliver highly personalized service 4 Build out relationship networks 5 Connect when, where, and how clients wantInnovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 15
  • 16. What the Social Era Means for Your OrganizationInnovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 16
  • 17. In the Age of Social Media, Everyone is in Marketing Customer Service Clients AdvisorsInnovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 17
  • 18. Your Job: Empower Advisors to Build Authentic Relationships in Ways that Enhance Ratherthan Detract from the Firm #marketing #advisor #field #compliance enablement #complianceInnovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 18
  • 19. Understand the New Way of Reaching Audiences is Through Trusted RelationshipsInnovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 19
  • 20. Success StoryInnovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 20
  • 21. Challenges • Prospective clients hoping to find a financial advisor could not consistently find Northwestern Mutual reps on LinkedIn or Facebook • Advisors wanted to be on LinkedIn and Facebook but didn’t know how to build a successful social media presence given their busy schedules • Corporate needed visibility, analytics, and a compliance system to scale and operationalize social mediaInnovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 21
  • 22. Solution• Hearsay Social has activated over 3,000 advisor social profiles with help from Hearsay Social’s Advisor Onboarding Team• Corporate has access to real-time dashboards and analytics, as well as an end-to-end compliance system Innovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 22
  • 23. Results • 1700% increase in # LinkedIn Connections • 900,000+ likes, comments, shares resulting in hundreds of new leads • Greatly reduced burden on field supervision and compliance due to optimized workflow and approvals, seamless systems integrationInnovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 23
  • 24. Action Plan for Activating Your Field Organization 1 Corral the chaos 2 Customer success onboarding and training 3 Activate your army with killer content* 4 Drive sales productivity through social signals 5 Review analytics to see what’s workingInnovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 24
  • 25. THANK YOU clarashih@hearsaysocial.com Twitter: @clarashih facebook.com/hearsaysocial linkedin.com/company/hearsay-social twitter.com/hearsaysocial gplus.to/hearsaysocialInnovation Summit | © 2013 Hearsay Social | Proprietary & Confidential 25