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The Evolution of Sales, The Survival Guide by Linkedin

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The Evolution of Sales, The Survival Guide by Linkedin The Evolution of Sales, The Survival Guide by Linkedin Presentation Transcript

  • Old-school selling is on the brink of extinction. Salesprofessionalsmustharness virtualandsocialtoolstosurvive intoday’snewsalesworld.
  • TOC 2 TABLE OF CONTENTS INTRODUCTION:Huntingvs.Hunted,byScottTapp,PGi.........................................................................................................................3 CHAPTER 1: TheNewEraoftheColdCall,byJonathanFarrington,TopSalesWorld...............................................................4 CHAPTER 2: SurvivaloftheFittest,byRalfVonSosen,LinkedIn..........................................................................................................5 CHAPTER 3: The“OldBrain,”byColleenStanley,SalesLeadership,Inc..........................................................................................6 CHAPTER 4: TheSocialContentKingdom,byTamaraSchenk,MillerHeimanResearchInstitute.......................................7 CHAPTER 5: Infographic:TheEvolutionofSales.......................................................................................................................................8 CHAPTER 6:VideoEvolution,byBrendanCournoyer,Brainshark.....................................................................................................9 CONCLUSION: TheVirtualFirePit,byNitaShah,Hubspot...................................................................................................................10 CONTRIBUTORS & ABOUT PGI............................................................................................................................................................................11 REFERENCES...........................................................................................................................................................................................................12
  • INTRODUCTION 3 HUNTING VS. HUNTED Adapting to the Demands of the Educated Buyer ByScottTapp,PGiEVPSales&Marketing Oneofthemostprofoundshiftsinthecurrentsales experiencehasnothingtodowiththemodern-daysales executive;thechangelieswhollywithinthemindofthe prospect.Contemporarysalesteamsarechallenged mostbyasinglefactor:theeducatedconsumer.This data-driven,all-accessworldweliveinaccelerates communication,informationsharingandtransparency —allwiththeclickofabutton. Longbeforepurchasingaproduct,today’sconsumers arehighlyknowledgeableoftheiroptionswithinany givenmarket.Theynolongerlooktosalesprofessionals toprovideinformation—nordotheytrustbrandsasde factoqualifiedresources.It’snotjustthatbuyersstart thesalesprocesswithoutyou;researchdemonstrates thatconsumerstypicallycompletemostofthe purchasejourneybeforehavinganycontactwithsales. Thereisnodoubtthatbythetimeyoursalesteams interactwiththem,prospectsarefarmoreinformed aboutyourbusinessthanyouareabouttheirs. Asaresultofgreateraccesstoandfamiliaritywith information,customersaredemandingmoreexpertise fromsalesrepresentatives.Salespersonnelmustadapt tothistransformingenvironmentorfaceextinction. Salespeoplemusttransformintoexpertconsultants whogathernewcustomers,whilemaintainingtheirbase. Understanding why and how to engage with today’s social business environment starts with recognizing changes in buyer communication patterns, product knowledge and online behavior. Sales pros must learn how to tap directly into the digital origins of these new concepts. We know customers are online and that they use the Internet to research purchases. As consumers evolve, so must sales professionals, particularly in their use of modern communication tools, particularly social media. Thesenewcommunicationavenues—allofwhichwill bediscussedindetailwithinthiseBook—willallow salesteamstobewheretheircustomersare,regardless ofgeographicalboundaries.Considerthefollowing: + Insidesalesisgrowing300percentfasterthan outsidesales.2 Theshiftistowardsinboundsales teamsandnewtoolsforprospecting—doyou knowwhattheseareandhowtousethem? + Sellersmustadapttheirprocesses,toolsand trainingtofindandengagetherightpeopleand buildtheirprofessionalnetworks. + Regardlessofthesenewtools,weareallstillhuman beings,wiredwithour“OldBrains.”Howcansales professionalscombinebiologywithtechnologyto reinventcustomerconversations? + Theimportanceofcontextandhowsales professionalscantailorcontentandmessages byevaluatingcustomerenvironments,both organizationalandvirtual. Thebusinessbenefitsofembracingtheeducated consumerareexciting,becausetheyoffernumerous opportunitiesforgrowth.Yet,salesproscangetlostin thisnewsalesworldwithoutanunderstandingofwhere yourprospectsfindinformationandhowtheywantto beengaged.Youriskobsolescenceifyouplaybytheir rulesandnotyours. Your buyer might know more than you! educateeducateeducateeducate Are your sales techniques becoming extinct? Are your sales techniques becoming extinct? Are your sales techniques becoming extinct? Are your sales techniques becoming extinct? THAT WAS THEN THIS IS NOW cold callingcold callingcold callingcold calling sales demos sales demos sales demos sales demos qualifying leads qualifying leads qualifying leads qualifying leads SALES 1.0 SALES 1.0 SALES 1.0 SALES 1.0 social networkssocial networkssocial networkssocial networks engageengageengageengage SOCIAL SALES SOCIAL SALES SOCIAL SALES SOCIAL SALES In fact, according to Forrester Research, the average buyer has completed between 60and 90% of their decision-making process before engaging a sales professional.1 View slide
  • CHAPTER 1 4 THE NEW ERA OF THE COLD CALL How Natural Selection is Moving Sales from Outbound to Inbound ByJonathanFarrington,SeniorPartneratJonathanFarrington&AssociatesandCEOofTopSalesWorld Thetrendforinsidesalesisnotcoming—ithasarrived andissittingatourdoorstep.Fuelandlaborcostshave soaredand,becauseofintensecompetition,theprices ofourproductsandsolutionshavelargelyflat-lined —ashavesalesachievementlevels.Naturalselection isnowatworkinsalesteamseverywhere.Companies havebeenforcedtoexaminethecompletecostof outboundsales,andwhattheydiscoveredisstartling. AccordingtoinboundmarketingleaderHubSpot,the averagecostperinboundleadis61percentlowerthan anoutboundlead.3 Research by Sirius Decisions supports the HubSpot data and indicate that inbound leads cost less and have higher conversion rates than outbound leads, though an integrated approach between the two is considered optimal.4 Inbound marketing techniques such as strategic search engine optimization, blogging to build thought leadership positioning and the prolific use of social media tools allow sales executives to target relevant prospects who can learn about products and services on their terms. Today’s educated consumer will find you — will you be ready? Virtualtoolscanempowersalesprofessionalslikenever before,drivinganeweconomicequationforbusiness inthiseconomy.AccordingtoDaveStein,CEOofES Research,“Customerseverywhereincreasinglyprefer virtualinteractionswithsellers.Trenddatarevealthat salesorganizationsareshiftingresourcesfromoutside toinsidesales.Insidesalesgrowthis30percentfaster thantheiroutsidesalescounterparts.Thenumberof insidesalesdepartmentsisprojectedtogrowfrom 800,000in2009toovertwomillionthisyear.”3 SO WHY ARE BUSINESSES EVOLVING TOWARD INBOUND SALES? Thetraditional“coldcall”onceseemedindispensable tothesellingprocess—thetimeandexpensewerea basiccostofdoingbusinessandnecessaryforsurvival. Thegoodnewsisthattherearebetterchoices.For manycompanies,socialmediachannelsandweb conferencingtoolshavenowmadethecoldcallan option,notanecessity.Advancesintechnologymean wecannoweffectivelyconductface-to-facemeetings onlineandmanagefive,sixandevensevenmeetings inoneday.Inadditiontoourvirtualface-to-face schedule,wecanreachouttoprospectsthroughsocial mediachannelsandstepintothenativeworldofthe educatedconsumer. RegardlessifyouaresellingB2BorB2C,yourprospects areonlineandgettingyoungereachdayduetothe growthoftheMillennialGeneration.Thesedigital nativesareespeciallyadeptatusingonlinechannels todiscoverbrandsandinformation,heavilyrelyingon theInternetforinformation.AccordingtoForrester Research,43percentofusersages24to32usesocial networksastheirprimaryresourceforbrandand productinformation.Infact,socialnetworksarenow thepreferredmeansofdiscoveryfornearlyone-thirdof allAmericans;regardlessofage,thatnumberisupfrom 18percentin2010.6 Themodelofmodernsalesissimple andmoreeffectivewithoutthetraditionalcoldcall. Theeducatedconsumerdemandsrelevantknowledge abouttheirbusinessandtheirspecificneeds;sales peoplemustrespondwithtimelyintelligenceinorder toachievesuccessfulengagement.Insteadofwasting valuabletimewithdozensofcoldcallsthatnever manifestintruerelationshipsorcloseddeals,sales professionalsshouldfocustheireffortsonprospects whohavealreadyenteredthebuyingcycleand demonstratedinterestinwhattheyhavetooffer.By focusingtimeandenergyontheprospectthatoffers growthintheirnaturalhabitat,you’llbothwin. Bytargetingprospectsusingsocialmediatools suchasLinkedIn™ andTwitter™ ,salesexecutivescan identifycompaniesripewithopportunityandcultivate intelligenceonmarketshifts,newproductofferings, acquisitionsandmore.Theycantieyourproduct toprospectneedsandmakethesalesconversation relevantagain.Inboundsalesteamsmaybeareaction toashiftintheeconomicmarket,butwiththeright toolsthisshiftwillbeagiantleapforward. $400 $200 2010 $332 $134 $373 $143 $346 $135 2011 2012 $0 AVERAGE COST PER LEAD INBOUND VS. OUTBOUND3 lower cost per lead 61% outbound marketing outbound marketing outbound marketing outbound marketing inbound marketing inbound marketing inbound marketing inbound marketing Inside sales is growing 30% faster than outside sales. The number of inside sales departments is projected to grow from 800,000 in 2009 to over 2M this year. DAVE STEIN, CEO OF ES RESEARCH But according to a recent study by InsideView, more than 90% of CEOs said they never respond to cold calls. The return on cold calling has decreased so drastically that it is essentially extinct.5 View slide
  • CHAPTER 2 5 SURVIVAL OF THE FITTEST Expect MoreTech-SavvyBuyers in theB2B GenePool ByRalfVonSosen,HeadofMarketingforSalesSolutionsatLinkedIn Today’sB2Bcustomersaretechnology-savvyandsocially empowered.Nolongerdobuyersdependonsellersforeducation andinformation.Informationisonlyaclick—oranetwork connection—away. ONLY THE STRONG WILL SURVIVE Sellersmustadapttheirprocesses,toolsandtrainingtothisnew reality.OnevitalcomponentishowsellerscanuseLinkedIn,the world’slargestprofessionalnetwork,to: 1. Buildtheirprofessionalbrand. 2. Findtherightpeopletoengage. 3. Knowwhattosaytobecompelling. 4. Findouthowtogetconnected,insteadofmakingacoldcall. BUILD A PROFESSIONAL BRAND Developareputationasanexpertthatshowcasesexperienceand increasescredibility.Thisisaccomplishedbyensuringthatyour LinkedInprofileiscompleteandspecificallyadaptedtoyourtarget customer.Inaddition,salesprofessionalsshouldparticipatein discussiongroups(especiallythoseoutsidethesalesindustry) andshareupdatesthatprovidemeaningfulinsights,provoke conversationandproduceopportunitiestoengagewithand influencecontacts. FIND THE RIGHT PEOPLE LinkedIn’s global network of more than 250 million professionals can be accessed with sophisticated search tools and provide sales executives the ability to find exactly the people they seek. Sales professionals can now filter for numerous characteristics, such as geography, company, title, seniority and many other facets. KNOW WHAT TO SAY Salesleaderscanprepareformeaningfulprospectconversations withunprecedentedefficiencyandeffectivenessbydivingdeepinto LinkedInprofiles,companypagesanddiscussiongroupstogather intelligenceabouttheirprospects.Notonlycantheyfindrelevant topics,buttheycanalsodetermineoptimalmomentstoengage prospects.Byinvestigatingtimelytopicsandindustrytrends,sales executivescantargetprospectswithtailoredcontenttodetermine ifthereisacompellingtriggereventdrivingtheprospecttomakea change—andapotentialpurchase. GETTING ENGAGED Transformingrelationshipsintomutuallybeneficialnetworks allowssalesprofessionalstomakethemostoftheirconnections.By nurturingandevolvingtheirnetwork,salesexecutivesdevelopthe abilitytoaccesswarmintroductionstotheirprospectsandavoid inherentlyunsuccessfulcoldcallsandemails.Awarmintroduction buildsuponafoundationoftrustandcreatesameaningful relationshipmuchmoreeasilythanacoldcall,andultimately increasesthechanceofthesale. 75% 57% 97% of B2B purchases are influenced by social media7 of buying decisions are made before a sales rep is involved8 of cold calls do not work9 How have today’s enterprise buyers evolved?How have today’s enterprise buyers evolved?How have today’s enterprise buyers evolved?How have today’s enterprise buyers evolved? Social Media Tips to Ensure Your SurvivalSocial Media Tips to Ensure Your SurvivalSocial Media Tips to Ensure Your SurvivalSocial Media Tips to Ensure Your Survival BE SELECTIVE. Meaningful content only. CHECK SOURCES. Never publish without reading. NOT TOO MUCH (1 PER DAY). Never blast multiple posts in a row. ADD YOUR POINT OF VIEW. DON’T SELL.
  • CHAPTER 3 6 THE “OLD BRAIN” Selling to the Real Buyer ByColleenStanley,PresidentofSalesLeadership,Inc. Salesprofessionalsaretaughttosecureameetingwiththereal decisionmakerwhenworkingtoclosethedeal.Termssuchasthe “economicbuyer,”the“technicalbuyer”andthe“userbuyer”are analyzedfrequentlyduringsalesmeetingstodeterminetheirrole inpurchasingdecisions.Salesmanagersstresstheimportanceof settingmeetingswithallpurchasinginfluencersinordertolearn keycriteriathatwillhelpwinbusiness. However,thereisonemorepurchasinginfluencetoconsider whenselling—theamygdala,orwhatisoftenreferredtoas the“OldBrain.”Theamygdala,asetofalmond-shapedneurons locatedinthebrain’smedialtemporallobe,isinvolvedin emotionanddecision-making.It’sreferredtoastheOldBrain becauseitwasoneofthefirstareasofthebraintodevelop. Thoughwehaveevolvedasaspecies,thispartofthebrain remainsandithasanimportantjob:tokeepyousafe.Itisnot logicalorrationalinmakingthatdecision,whichisexactlywhy salespeopleneedtopayattentiontotheamygdalaandadjust theirsalesapproachaccordingly. Salesexecutivescanusethisknowledgetotheiradvantageby understandingandtargetingtheOldBrainanditsneeds.When theOldBraindoesn’tfeelsafe,itoftensendsapersoninto fight-or-flightmode,whichisnotgoodforbuildingrapport, trustandsales. Belowarefourcommonmistakessalespeoplemakethatturn asalesmeetingintoa“survivalmeeting”andtipsonhowto overcomethem: 1. SALESPEOPLE STILL SUBSCRIBE TO THE “ABC” METHOD OF SALES. Translation:AlwaysBeClosing.Theyaskleadingquestionsthey hopewillleadtoasale.Questionssuchas,“So,Mr.Prospect, ifwecoulddothis,thisandthis,wouldyouwanttosignup today?”TheOldBrainsensesahardclosecomingandalerts theprospecttothedangerahead. Leadingquestionssenda prospectintofight-or-flightmode. Theresultis“nosale”becausetheprospectdidn’tfeelsafe duringthemeeting.Abetterwaytophrasethestatement couldbe: “Mr.Prospect,thosearesomeofmyideasand recommendations. Whatdoyousuggestasanextstep?”Give theprospectcontrolandchoice.Hefeelssafeandyouwin morebusiness. 2. SALESPEOPLE ARE OFTEN TOO ENTHUSIASTIC. Howmanyofyouweretaughttobeenthusiasticwhenyou enteredthesalesprofession?Yourintentmaybegood; however,yourenergeticselfmightbeputtingtheinstinctiveOld Brainonhighalert.“Danger,danger!Loudpersonintheroom.” Ifyouaremeetingwithsomeonewhoisalittlemorelow-key,it’s importanttoadaptyourcommunicationstyletomatchyour prospect’svolumeofspeech.Observeandadjustyourenergy leveltothatoftheprospect.OurOldBrainwiringencourages ustobuyfrompeoplewelikeandwhoarelikeus.Andafterthe meeting(ifyouhaven’talreadydoneso),followthemonTwitter andLinkedInsothatyoucancontinuetheconversationona differentlevel—onetheymightnowbemorecomfortablewith. 3. SALESPEOPLE TRY TO OVERTLY OVERCOME OBJECTIONS. Whenyoustarttryingtoovercomeobjectionsduringasales meeting,theOldBrainimmediatelytriggersyourprospect’s fight-or-flightsurvivalmechanism.Insteadofovercoming objections,recastthemasdialogandfacilitateaconversation aroundthepotentialchallengestoimplementingyoursolution. Forexample,ifyourprospectisreallybusy,it’syour responsibilitytobringupthepotentialproblemoftime.“Ms. Prospect,Ithinktherearesomethingswecandotohelpyou; however,let’sdiscusshowmuchtimeitwilltaketoexecute someofthesechanges.Iknowyourtimeislimited.” Your prospectwillappreciateyourempathytowardtheconstraints ofherschedule.Insteadofovercomingobjections,bringthem up.Yourcandorcreatescredibilitywithprospectsandkeepsthe conversationsafeandopen. 4. PROSPECT TO THE OLD BRAIN. HowmanyofyoureadingthiseBookhavebeeninvitedto “connect”withsomeonewhofailedtocustomizetheirrequest? Orreceivedaprospectingemailfromasalespersonthatwas genericandflat? Thehumanbrainishard-wiredforcomfortandit’snotatease respondingtoasalespersonwhohasnotestablishedcommon groundintheconversation.Researchyourprospectsand includeinformationshowingyou’vedoneyourhomeworkin yourLinkedInrequestorprospectingemail. Asjustoneexample,ifyourprospectreceivedanaward(about whichyouwouldbenotifiedimmediatelyviaatargetedGoogle alertyoupreviouslysetup),youcanincludeapersonalnoteof congratulationsthroughLinkedIn,Twitteroremail. BesuretoincludesellingtotheOldBraininyourpre-call planningprocess,asitisavitalbuyinginfluence.Eliminateleading questions,monitoryourenthusiasmandbringuppotential objectionsasapartofthesalesdialog.RespecttheOldBrainand keepthebuyersafetocreatebiggersalesconversations. The amygdala, or Old Brain, is involved in emotion and decision-making. When the Old Brain doesn’t feel safe, it often sends a person into fight-or-flight mode.
  • CHAPTER 4 7 THE SOCIAL CONTENT KINGDOM Transforming Interactions from Push to Pull ByTamaraSchenk,ResearchDirector,MillerHeimanResearchInstitute CONTENT is King CONTEXT is Queen Asmarketinghasevolvedinthedigitalera,oneofthemost frequentlyheardaxiomsis“contentisking;”andifakingdom everhadaqueen,“context”wouldrulerightalongsidecontent. Contentwithoutcontextdoesnotcreateadditionalvalue,neither forsalesprofessionalsnorforpotentialbuyers. Bothkingandqueen—contentandcontext—arepoweredby theroyalhousehold:themoderntechnologythatsurroundsus. Oursmartphonesareever-presentandappsforbothworkand pleasureareendless.Theshiftfroma“push”toa“pull”world ofcommercialmessaginghasbeenthoroughlydocumentedby now.Abetterwaytosellistotargetcustomersandprospects usingtoolsthatembracecontextasmuchascontent.Consider thefollowingdimensionsinyourapproach: CONTEXT DIMENSION 1: TARGET SPECIFIC SELLING SITUATIONS ALONG THE CUSTOMER’S JOURNEY Withinthisdimension,youdiscoverwhereyourprospectsand customersareintheirproblem-solvingjourneyandtailorcontent tothespecificstages.Modifyyourvaluepropositionmessages alongaspectrumbyeither: + Valuehypothesisandvaluepropositions(whychange?),or + Uniquevaluepropositionsandvalueconfirmations(whyare youthebestchoice?) Researchwhereyourprospectsandcustomersareintheir problem-solving journeyandusesocialmediatoyouradvantage: + BeginthejourneybyresearchingTwitterandLinkedInfor yourprospectsandstakeholders. + Targetkeywordsandhashtagsrelevanttoyourproductor service,aswellasthepainpointsofyourprospects. + Dependingonthestageofyourcustomer’sjourney,review yourcompetitors’Twitterhandles. + JoinLinkedIngroupsoutsideofsalesdiscussions—join industriesoutsideofyourowntohuntnewgroundandgain newinformationinthequestionsanddialog. + Watchforcustomercommentsonyourcompetitors’ socialnetworks. + Cometotheconversationwithsomething—offerinsights andinformation,borrowingthoughtleadershipfromyour corporateblogandindustrywhitepapers. CONTEXT DIMENSION 2: UNDERSTAND AND ALIGN TO SPECIFIC BUYER ROLES Intheseconddimension,youcandigdeeperintotherolesofthe relevantdecisionmaker(s),understandthelevelsandrolesof varyingstakeholdersandfurthertailoryourmessagestothepain pointsanddifferentperspectivesofimpactedaudiences. Thisisnoeasytask,particularlyforenterprisesalesexecutives; theprospectisnotasinglebuyerbutacommitteeofseveral individuals,eachwithvaryingneeds.Therelationshipbetween increasedaccountabilityandfallingbudgetsbecomesclearasthe numberofimpactedandactivestakeholdersrisesandthemore cross-functionalchallengesmustbemastered. Theeasiestwaytoclusterbuyerrolesistocreateamatrixof yourstakeholdersandmap(1)levelwithintheorganizationand (2)function.Thesetwolayerswillhelpdefinefundamentally differentperspectivesandpatterns,helpingyoudefineyour clustersandbuildassumptionsabouthowtotailorbothcontext andcontent.Startbuildingyourclustersaccordingtowhichroles aremoreinterestedin: + Effectiveness,theoverallinvestmentandROI;or + Efficiency,suchasmanagingbudgetsandcostsavings CONTEXT DIMENSION 3: USE VERTICAL COLOR AND LANGUAGE “WheninRome…”AndIhopeyouunderstandthissageadvice betterthanRonBurgundydidin“Anchorman.”Thisthirdandfinal dimensionisvital.Researchsaysthatonly13%ofexecutivebuyers believeasalespersoncanclearlydemonstrateanunderstanding oftheirbusinesschallengesandarticulatepotentialsolutions.10 Yetitisthesecrucialaspectsofunderstandingandvaluethatbuild trust—andclosethedeal.Ifyourcustomersandprospectsare totrustthatyouunderstandtheirbusinessandprovidevalue,itis imperativethatyouspeakthelanguageoftheirbusiness. Bydevelopingamulti-dimensionalcontextualawarenessofyour prospects’environment,youwillbeabletotailoryourcontent forgreaterrelevanceandimpact.Andbychoosingsocialmedia channelsalreadywithintheconsumers’hands,youcantransform yourmessagefrompushtopull. Ideally, you understand three areas: your business, your customer’s business, and the intersection of the two — and in that intersection, how it will most benefit your customer. This is what we call business acumen — such an important skill!
  • The New Consumer HabitatThe New Consumer Habitat SOCIAL MEDIA IS A LEADING FACTOR IN THE NUMBER OF CLOSED DEALS FOR SALE PROFESSIONALS Email OnlineVideo Search Online Games Blogs Online Radio Online Newspaper Online Magazines Social Networks 20% 18% 13% 12% 9% 4% 3% 3% 2% MOST COMMON ONLINE ACTIVITIES 13 of those who used social media to sell, outperformed those who weren’t using social media12 of those who used social media tracked their usage back to at least one closed deal said they’ve closed between two and five deals as a result of social media12 89% 64% 71% SOCIAL MEDIA IS A CRITICAL TOOL FOR LEAD GENERATION & QUALIFICATION of marketers report their social media activities help them gain awareness11 of marketers see lead generation benefits when they spend six hours a week on social media11 of marketers find increased market intelligence when they spend six hours a week on social media11 78% SOCIAL MEDIA DRIVES COMPANY PURCHASE DECISIONS IT DECISION-MAKERS RELY HEAVILY ON SOCIAL MEDIA IN THE DECISION MAKING PROCESS15 of respondents said that companies’ social media posts impact their purchases14 THE EVOLUTION OF SALES: BY THE NUMBERSTHE EVOLUTION OF SALES: BY THE NUMBERSTHE EVOLUTION OF SALES: BY THE NUMBERSTHE EVOLUTION OF SALES: BY THE NUMBERS 79% 54% 40% On average, buyers spend close to 12 hours a day in front of a screen13 laptop/desktoplaptop/desktoplaptop/desktoplaptop/desktop smartphone/ tablet smartphone/ tablet smartphone/ tablet smartphone/ tablet televisiontelevisiontelevisiontelevision BUYERS ARE SPENDING MORE TIME IN FRONT OF A SCREEN 12 11 1098 7 6 5 4 1 32 The New Sales & Marketing EcosystemThe New Sales & Marketing EcosystemSALESSALESSALESSALES BUYERSBUYERSBUYERSBUYERS • 82% visit a social network at least monthly • 78% use at least one social network for business • 68% have engaged with a vendor on a social network • 66% are influenced by at least one social network during their part of the process • 62% share, like or retweet others’ content at least monthly 12 CHAPTER 5 8
  • CHAPTER 6 9 VIDEO EVOLUTION Convergence of Video and Social Selling ByBrendanCournoyer,DirectorofContentMarketingatBrainshark It’snosecretthatonlinevideohasbecomean extremelypopular(andpowerful)marketingtoolfor B2Bcompanies.Infact,videowasthesixthmostused tacticforcontentmarketersin2012,anevolvingtrend thathasshownnosignsofslowingdown.16 Thetruthisthatmanyoftheattributesthatmakevideo suchavaluabletoolforbrandawarenesstranslateto thedifferentphasesofthesellingstage,aswell. IT’S PERSONAL Anyonecansendawrittenemailtoprospective buyers,butvideoenablesyoutoadaptyourmessage andaddamorepersonaltouchtotypicalsales outreach.Theabilitytohearyourvoiceorseeyour facecreatesaninstantconnectionwithprospectsthat canbenurturedintopowerfulcustomerrelationships. Combinedwithcompellingcontent,thesevideoshelp positionrepsasatrustedauthorityinthemarketplace (andasweallknow,buyerstendtospendmorewith peopletheytrust).Repscancreatepersonalized messagesthatspeaktotheneedsandchallenges ofspecificaudiences,andsharethatcontentwith LinkedInconnections(orviaothersocialchannels)to separatethemselvesfromtheherd. IT’S ENGAGING Onlinevideoalsoenablessalespeopletoconnectwith buyersinaformattheyprefer. Theimpactofthesemessagesisalsomorepowerfulas viewersgenerallyretaininformationatamuchhigher ratewhentheycanseeandhearit.Combineallthat withthefactthatYouTube™ generatesmorethanfour billionhitseachday,andit’scleartoday’saudiencesare crazyforonlinevideo. IT’S CONVENIENT Anotherinherentbenefitofonlinevideocontentis thatit’savailabletobuyersondemand.Unlikethe cold-callingtechniquesthatarerapidlybecoming extinct,on-demandcontentishighlyadaptiveand empowersprospectstoreviewyourmessageat theirconvenience.Andwhencomparedwithother contentalternatives,suchaswrittenemailsortedious whitepapers,videoenablesrepstoengageondemand withoutsacrificingimpact. Videoallowsyoutoreachbuyersnomattertheir location.Thepopularityofsmartphonesandtablets forbusinessusehasskyrocketedinrecentyears,with morepeoplethanevercarryinglittle,portableTVsets atalltimes.Naturally,thesedevicesalsoprovide24/7 accesstosocialmedia,enablingsalespeopletoextend theirreachandconnectanytime,anywherewith prospectsintheirvirtualhabitat. IT’S EASY Finally,today’stechnologyhasmadeonlinevideo creationfasterandeasierthaneverbefore.Practically everybusinessprofessionalnowhasavideocamera builtintotheirmobiledevice,andonlineeditingand hostingsoftwarehasbecomebothsimpletouseand exceedinglyaffordable. Repscanalsosharethatcontentseamlesslyacross avarietyofsocialmediachannels.Videoscanbe embeddedtoLinkedInprofiles,sharedonFacebook, linkedintweetsorsharedliveviaPGi’siMeet® web conferencingtool. Aswithsocialmediamarketing,thesuccessofsocial sellingislargelydependentonthequalityofthe contentandmessagesbeingdelivered.Inthissense, theevolutionofvideoforsalesisundeniable. Studies show that simply mentioning the word “video” in an email subject line can drastically improve open and click-through rates,and 59% of senior executives prefer watching online video to reading text.18, 19 conversionsconversionsconversionsconversions lead nurturinglead nurturinglead nurturinglead nurturing closing dealsclosing dealsclosing dealsclosing deals post-sale communications post-sale communications post-sale communications post-sale communications Recent studies show that many high-performing companies have found new ways to use video throughout the sales cycle in areas such as:17 How can video help your sales performance? How can video help your sales performance? How can video help your sales performance? How can video help your sales performance?
  • CONCLUSION 10 THE VIRTUAL FIRE PIT Integrating Social Media, Sales and Customer Conversations ByNitiShah,HeadofSalesContentatHubspot SocialmediaisthefirepitoftheInternet.Digitalnativesgatherto sharestoriesandtocreateandadaptthisvirtualworld.Thedigital erahasgivenrisetodifferentdesignsanddifferentapplications, butonethingiscertain:socialmediaisheretostay.Sales executivesmustevolvetheirapproachtomakethemostofit. Ever-evolvingandever-present,socialmediaishowwe(and ourprospectsandcustomers)sharecontentandinteract witheachother.Onapersonallevel,itallowsustosharewhat’s goingoninourmindsandinourlives.Onaprofessionallevel, itisaplatformforbuildingcredibility,researchingprospects, scalingconversations,keepingupwithcustomersandaddinga humandimensiontoyourcompany. THE PROFESSIONAL PUBLIC PROFILE Establishyourselfonoutward-facingsocialmediaplatforms, suchasTwitterandLinkedIn.Makesureyourprofileisup todate,andinvestafewminuteseachdaytobuildingyour personal brand:addconnections;followinfluentialTwitter users;joinLinkedIngroups;tweetandpostinterestingarticles relatedtoyourindustry;andreply,retweet,commenton and“like”otherpeople’sposts.Regularlycontributingto conversationsinyourfieldwillhelpbuildyourauthority. USING SOCIAL MEDIA TO UNDERSTAND YOUR PROSPECTS Chancesareyourprospectsareonsocialmedia,too.Take advantageofthis:lookattheirLinkedInprofiles,Twitter streamsandeventheirPinterest™ accounts.Forthepurposes ofprospecting,Facebookisgenerallynotasconducive becauseitisamorepersonalsocialmediachannel. Learningaboutwhotheprospectisprofessionallyand personallywillhelpyoubetterunderstandhowtoapproach themduringacall,whichcanbethedifferencebetween disinterestandprogressingtothefollow-up.Here’salistof whattolookforwhenprospectingonsocialmedia,whereto finditandhowitcanhelp: + What is their role?(LinkedIn,Twitter)Theirrolewillhelp youdeterminewhethertheyareaninfluencer,decision- makerorinanareaunrelatedtowhatyouaretryingtosell. Avoidthelatter,astheyhavenoswayinthebuyingprocess foryourproductorservice. + How long have they been working in that role? (LinkedIn)Someonewhohasonlybeeninthatpositionfor afewmonthsmaynothaveasmuchinfluenceinthebuying process.Ontheotherhand,anewpersoncanmeanmore willingnesstomakechangesandmakeamark,whichcan beyouropening. + Do you have any common connections?(LinkedIn, Twitter)Youcanbringthisupinyourprospectingemail,or betteryet,askyourmutualconnectionforanintroduction. Itwillmakeyoulessofastrangerinyourprospect’seyes. + What groups does he/she belong to? (LinkedIn) Considerjoiningthese,especiallyifitpertainstoyour industry. + What articles and thoughts are your prospects posting?(LinkedIn,Twitter,Pinterest)Thisisyourglimpse intoyourprospect’smind—whattheirinterestsare(both professionallyandpersonally)andtheirpotentialpain points.Youcanleveragearecentarticletheysharedinyour email,andbuildrapportduringcallsbybringingupthefact thatyoulovetobakeifyounoticedtheyhaveaPinterest boarddedicatedtocupcakes. CREATING DIALOGUE DURING THE SALES PROCESS Onceyouhaveconnectedwithaprospect,goahead:use socialmediatoengagethembetweencalls.Followthemon TwitterandaddthemonLinkedIn.Aneasywaytonotmissa thingistoaddthemtolists,orusesocialmediasoftwaresuch asHootSuiteorSocialInboxsoyoucanmonitortheirsocial mediaactivity. Occasionally(nomorethanonceinafewdays,soasnotto comeoffasastalker)favorite,retweetorreplytoatweetand “like”orcommentontheirrecentLinkedInpost—thiswill showthatyouarepayingattentiontothemandareinterested inwhattheyhavetosay,whichactsaspositiveaffirmation atthevirtualfirepit.Thismakesyoulikeableduringthesales processandwillensurethatyounotjustsurvive,butthrivein thesalesprocess. KEEPING A CUSTOMER HAPPY WITH SOCIAL MEDIA Socialmediaisalsoafantastictooltokeepexistingcustomers happy.Ifyourcompanyhasasocialmediamanager,makesure theyaremonitoringactivitystreamsdedicatedtocustomers. Accountmanagersshouldalsomonitortheirowncustomers’ activitystreams.Youwanttocontinuetheconversationpost- sale:thisshowsthatyou’reinvestedintheirlong-termsuccess. Likethefirepitofancientcivilizations,socialmediaistheheart ofmodern,virtualcommunicationsthatsalesprofessionals musttapintoandnurture.Andthatmeansthatanybusiness thatwantstostayinbusinessneedstostoptreatingitasa fadandstarttreatingitasapowerfultoolforbothsalesand customerhappiness.
  • A BETTER SALES CALL Connect, present, chat, share and collaborate iMeetletsyoubemorethanjustavoiceontheotherendofthephone.Connect,present,chat, shareandcollaboratetobuildstrongerrelationshipswithyourprospectsandcustomers– allinyourveryownmeetingspaceonline. TakeonelookatiMeetanditwillchangethewayyouthinkaboutyoursalescalls. iMeet Works For SalesiMeet Works For SalesiMeet Works For SalesiMeet Works For Sales NOGUESTDOWNLOADS iMeetiscloud-basedsoyour prospectsneverhavetospend valuablemeetingtimedownloading complexsoftwareplug-ins. HDVIDEO Makeamorepersonal connectionandletyour prospectsseeyouinaction. FILEANDSCREENSHARING iMeetgivesyouthetoolsto makecompellingsalespitches. yourscreen. PERSONALIZEDURL iMeetgivesyouapersonalized URL,thatyoucaneasilyemail toyourprospects.Itmakes gettingintothemeetingvery easy. MOBILE Salespeopleareconstantlyonthe go.iMeetisavailableoniPhoneand iPad,makingitsimpletomakesales presentationswhenyou’renotat yourdesk. 11
  • 12 CONTRIBUTORS JONATHAN FARRINGTONisakeynotespeakeras wellasagloballyrecognizedbusinesscoach, mentor,author,consultantandsalesthought leader.HeistheSeniorPartneratJonathan Farrington&AssociatesandCEOofTopSalesWorld,basedin LondonandParis.FormoregreatarticlesfromJonathan,visit hisblogatwww.thesalesthoughtleaders.com RALF VONSOSENispassionateabouttheability oftechnologytoenablemoremeaningfuland productiverelationshipsamongprofessionals. Hehasbeenapioneerintheareaofsocialselling andcontinuestobenotonlyanevangelistforsocialselling,but instrumentalincreatingthenextgenerationofsocialselling solutionswithLinkedIn.AstheHeadofMarketingforLinkedIn SalesSolutions,Ralfhastheopportunitytobealeaderindefining thefrontiersofsocialselling,whilealsoworkingwithindividuals, teamsandentirecompaniesinmakingsocialsellingascalable realityallovertheworld. RalfhasbeeninvolvedintheCRMspace, withanemphasisonsalesandmarketing,sincethelate’90s.His experiencespansindustrygiants,suchasSiebel(nowOracle) andSAP,toaseriesofsmallercompaniesincludingMarketLive, andmostrecentlyInsideView. Hisroleshavecoveredthe areasofproductmanagement,productmarketing,lead generation,businessdevelopment&alliancesandmarketing communications&corporatemarketingwithafocusintheSaaS. COLLEEN STANLEYisPresidentandFounderof SalesLeadership,asalesdevelopmentfirm. Sheistheauthorof“EmotionalIntelligence ForSalesSuccess”and“GrowingGreatSales Teams.” Colleencanbereachedat303-708-1128orvia www.salesleadershipdevelopment.com TAMARA SCHENK servesasResearchDirector fortheMillerHeimanResearchInstitute. Sheisahighlyexperiencedsalesenablement leader,arespectedvoiceinthesalesand salesenablementcommunity–havealookatherblogSales EnablementPerspectives.Tamarawillcontinueandexpandher thoughtleadingresearchinstrategicsalesenablementmodels, accountmanagementstrategiesandGoToCustomermodels. Visit:www.tamaraschenk.com BRENDAN COURNOYERisDirectorofContent MarketingatBrainshark,abusiness presentationsolutionproviderthatenables companiestoimproveproductivityforsales, marketingandtraining.Formoremusingson theworldofonlinevideo,contentmarketingandmore,follow BrendanonTwitter@brencournoyer.Youcanfindmoretips andideasonusingvideotoenhanceyourmarketingstrategies byvisitingtheBrainsharkIdeasBlog. NITI SHAHistheInboundMarketer&Head ofSalesContentatHubSpot,whereshe runsInboundSalesandtop-of-the-funnel marketingfortheirnewsalestool,Signals.You canfollowheronTwitterat@nitifromboston.   ABOUT PGI PGihasbeenagloballeaderincollaborationandvirtual meetingsformorethan20years.PGi’scloud-basedsolutions delivermulti-point,real-timevirtualcollaborationusingvideo, voice,mobile,webstreamingandfilesharingtechnologies.PGi solutionsareavailableviadesktops,tabletsandmobiledevices, helpingbusinessesworldwidebemoreproductive,mobile andenvironmentallyresponsible.PGihasaglobalpresence in25countriesandanestablishedbaseofmorethan40,000 enterprisecustomers,including75percentoftheFortune 100™.Inthelastfiveyears,PGihashostednearlyonebillion peoplefrom137countriesinmorethan200millionvirtual meetings.Formoreinformation,visitPGiatwww.pgi.com. @PGi facebook.com/PGiFans DISCLAIMER PGimakesnorepresentationorwarranties inrespecttotheaccuracyorcompleteness ofthiseBook.PGispecificallydisclaims anyandallexpressorimpliedwarranties, includingwithoutlimitation,warrantiesof merchantability,non-infringement,orfitness foranyparticularpurposerelatingtothe contentsofthiseBook.PGishallinnoevent beliableforanylossofprofitsoranyother commercialdamages,includingbutnotlimited tospecial,indirect,consequential,orother damagesrelatingtothecontentsofthiseBook oranyrelianceonthecontentsofthiseBook. LinkstoOtherWebSites Theremay,fromtimetotime,belinksto asitethatwillallowyoutovisitotherweb sitesthatarenotmaintainedbyus.Weare notresponsibleorliableforthecontent ofthosethirdpartysitesandmakeno representationsconcerningtheinformation providedormadeavailableonsuchsitesnor thequalityoracceptabilityoftheproducts orservicesofferedthroughanysuchsites. Linksprovidedbyustosuchwebsitesare providedsolelyforyourconvenienceand donotimplyendorsement,sponsorshipor recommendationbyusoftheseothersites. ©PremiereGlobalServices,Inc.and/orits affiliates|PGi.Alltrademarksofthirdparties referredtointhiseBookarethepropertyof theirrespectiveowners.
  • 13 REFERENCES INTRODUCTION 1. Forrester Research via Miller, J. The Path to a Killer Marketing Strategy as quoted on InsideSales.com (2013) Retrieved at http://www.insidesales.com/insider/sales- metrics/16-sales-statistics/ 2. Elkington, D. Inside Sales Market Update as quoted on InsideSales.com (2013) Retrieved at http://www.insidesales.com/insider/sales-metrics/16-sales-statistics/ CHAPTER 1 3. Miller, M. Inbound Leads Cost 61% Less Than Outbound [New Data] (2012) Retrieved at http://blog.hubspot.com/blog/tabid/6307/bid/31555/Inbound-Leads-Cost-61-Less- Than-Outbound-New-Data.aspx 4. Gaines, J. Are You an “Innie” or an “Outie”? (2012) Retrieved at http://www. siriusdecisions.com/blog/are-you-an-innie-or-an-outie/ 5. Fidelman, M. The Rise of Social Salespeople (2012) Retrieved at http://www.forbes.com/ sites/markfidelman/2012/11/05/the-rise-of-social-salespeople/ 6. Kabin, B. Social Media May Soon Drive More Traffic to Your Website Than Search Engines (2013) Retrieved at http://www.entrepreneur.com/article/227178 CHAPTER 2 7. IBM Buyers Preference Study (2011) via IBM’s Social Selling: The Computer Giant Finds B2B Leads in Social Media Retrieved at http://www.chiefmarketer.com/b2b/ibms-social- selling-the-computer-giant-finds-b2b-leads-in-social-media-25012012#_ 8. Corporate Executive Board Study (2013) via The End of Solution Sales Retrieved at http:// www.executiveboard.com/exbd/sales-service/the-end-of-solution-sales/index. page 9. Connect & Sell (2012) Retrieved at http://connectandsell.com/the-technology/ CHAPTER 4 10. Wizdo, L. Proving Theodore Levitt Wrong About Sales (2012) Retrieved at http://blogs. forrester.com/lori_wizdo/12-03-19-proving_theodore_levitt_wrong_about_sales CHAPTER 5 11. Stelzner, M. 2013 Social Media Marketing Industry Report (2013) Retrieved at http:// www.socialmediaexaminer.com/social-media-marketing-industry-report-2013/ 12. Fidelman, M. Study: 78% Of Salespeople Using Social Media Outsell Their Peers (2013) Retrieved at http://www.forbes.com/sites/markfidelman/2013/05/19/study-78-of- salespeople-using-social-media-outsell-their-peers/ 13.PGi. Screen Fiends: Infographic Reveals Shocking Truth on Technology Usage and Screen Time (2013). Retrieved at http://blog.pgi.com/2013/10/screen-fiends-infographic- reveals-shocking-truths-technology-usage-screen-time/ 14. Olenski, S. Are Brands Wielding More Influence In Social Media Than We Thought? (2012) Retrieved at http://www.forbes.com/sites/marketshare/2012/05/07/are-brands- wielding-more-influence-in-social-media-than-we-thought/ 15. LinkedIn. The Social Bridge to the IT Committee (2013). Retrieved at http://business. linkedin.com/content/dam/business/marketing-solutions/global/en_US/ campaigns/linkedin-social-bridge-to-the-it-committee-en-us.pdf CHAPTER 6 16. Pulizzi, J. 2013 B2B Content Marketing Benchmarks, Budgets and Trends (2012) Retrieved at http://contentmarketinginstitute.com/2012/10/2013-b2b-content-marketing- research/ 17. Kucera, T. Lights, Camera, Call-to-Action: Trends in Video-based Marketing (2012) Retrieved at http://www.aberdeen.com/Aberdeen-Library/8192/RB-content-Video- marketing.aspx 18. Experian Marketing Services. The 2012 Digital Marketer: Benchmark and Trend Report (2012) Retrieved at (registration required) http://go.experian.com/forms/experian- digital-marketer-2012?WT.srch=PR_EMS_DigitalMarketer2012_040412_ Download 19. WeCapture. Web Video Statistics 2012 Infographic (2012) Retrieved at http:// wecapture.co.uk/web-video-statistics-2012-infographic/