Selling - Used to be – buyers relied on the info you provided. Sellers controlled the information and the process.NOW, Buyers no longer need salespeople to get basic product info – they use Google. AND, they use EACH other with social. Combine that with - they are doing MORE due-diligence due to the economic downturn. And you get very long sales cycles.We are all dealing with a better informed buyer and have had to adapt our sales processes because of this, but have we adapted our technology and the systems we use to put information we can track in the hands of our sales teams.
As executives, our role is to put the tools in place that allow your people to get the most business possible. We need to help our people get their foot in the door. Today we are going to talk about…. Increasing sales with Social CRM and why that should be an important initiative for your organization in the next 12 months.
You can see how the sales funnel works. There’s a lot of activity around awareness…people reading information, downloading whitepapers. All of that activity is happening online – without any help from a salesperson. So that means your website better be ready – we’ll talk more about that in our next session.
Listening to the RIGHT people at the RIGHT companies. Just like at a cocktail party, you don’t just jump in and start shoving your business card under people’s noses…listen to your market. What are the trends? Who are the buyers? How can you be there when they need you?Trigger events – things that happen that drive them to buy.3. Leverage your own social network to make things happen – we won’t discuss today4. Empower sales with tools and knowledge that help them do their job better and win more.
Convergence of CRM with social media. Collaboration – listen and RESPOND. Brings up the question of what types of people in your business should manage Social CRM?
So here we get into WHAT IS social selling. It’s using INTELLIGENCE from social sources to make sales connections.Let’s take a look at what data looks like, vs. intelligence. Intelligence helps you build a more complete profile, better understand business challenges, and exactly WHO is making the decisions, what ISSUES are important to them. Having this information means you have a more meaningful dialogue from the start with your prospects. It becomes a collaborative process vs. a transactional one.This is a screen shot of a tool called InsideView that we use to get info about our customers. So you can see what information is provided here…What is it? News, trends, consumer-generated content (blogs, posts on FB or Twitter), reports, trigger events.AND it works both ways. You want intelligence about your customer, and they want intelligence about YOU. We’ll talk more about how that works in my next presentation.
It’s not just a touchy-feely thing – it can mean increased sales. These gains are summarized in a recent study by CSO Insights (2,000 companies, annual survey) – there is a difference between getting data into the hands of your people (call lists, potential users) and getting Intellegence, trigger points, director level and higher, social news and feeds.
If you don’t have a social CRM tool for your organization, maybe it is time to consider deploying one – for the reason’s we have discussed. If you are looking to shorten sales cycles or increase productivity<CLICK> Just like Mia Energia who in just 12 months was able to shorten their sales cycles and increase new business or <CLICK> Just like Trans-Tasman Business Circle who experienced productivity gains of close to 50%Or <CLICK> Just like The UEM Land Group who increased sales productivity and improved customer service response time by upto 50%
Or maybe you need to improve customer service<CLICK> Red Balloon reduced order processing times to less than 1 hourAnd <CLICK> Loomis is delivering excellence in customer service
Maybe you are looking in getting better visibility into your overall company performance<CLICK> just like Caplin Systems who tripled their number of web leads and increased overall visibility into their company performanceOr maybe you need to reduce some of your operating costs<CLICK> like Tenzing Health who save on the bottom line by reducing costs and information processing timeOr <CLICK> Healthscreen who has saved thousands by integrating sales and back office operations.
“Users first” design focus - The user experience is paramount.Other systems typically designed around the check-signer, i.e., management.Easy navigation and search. – reducing scrollingInfluenced by social platforms – highly intuitive and easy
That the Internet, along with Social, Mobile and Cloud Computing, is fundamentally changing how people interact with their customers, and ultimately the nature of CRM.
That customers are demanding Open vendors; vendors that collaborate with them on long term solutions. By creating an Open platform and Open ecosystem we empower our customers and partners to control their own destiny, building trust, and ultimately growing our business.Integrate with productivity tools like email and presentation apps. Integrate with social mediaDeploy on your chosen platform
Always interesting to look at these type of statistics, but let’s bring it back to the basics. A study conducted by the business school at the University of North Carolina found this eye-popping statistic:92% of the people you want to build a relationships with will not take a cold call or look at a cold emailSo what are you to do? Go with that 8% hit rate and start dialing? That is not the answer.
This is where InsideView comes in. Their sole purpose in life, to create intelligence out of all this. Intelligence that will allow you to be more productive and more competitive. Intelligence that will allow you to find that right person, with that right message, and at that right time.
Right person – what do you have in common? Who is the decision-maker? Take advantage of connections across networks.Right message – what are their pains, their needs, their goals? Right time – what are the triggers that are happening that can cause them to raise their hands and be ready to buy?
InsideView is about productivity and about winning. It’s about getting your salespeople better prepared to win 100% of their deals. And, spending more time winning and less time researching.Salespeople LOVE InsideView. One customer said: “my wife is pregnant, and I love InsideView so much, I’d name my baby InsideView if my wife would let me”. CRM Adoption skyrockets – as does CRM ROI.
InsideView is about productivity and about winning. It’s about getting your salespeople better prepared to win 100% of their deals. And, spending more time winning and less time researching.What are sales triggers?New executives or leadership changesNew product launchesCost-cuttingFast growthMergers and acquisitionsMoves by their competitorsNew offices
Community – are your customers, partners, and prospects active on social media? Research! If not, don’t sweat it.Culture – it requires a different way of thinking in the organization. Some people will get it, some will not. It’s a culture of sharing and openness, collaboration. A flat, not top-down way of communicating.If you have tools in place that allow you to listen to social networks, engage with a social customer, and aggregate that data in a CRM your business can operate in the social CRM realm.
“70% of the B2B buying process happens online” SiriusDecisions Inc. awareness consideration purchase “ We have alevel of buyer “I’m just project” “ We’ve downloading made a stuff”activity “ We’ve decision” shortlisted vendors” “I’m just browsing” time
How do we increase sales with Social CRM?SLIDE :7 Listen for sales intelligence Acting on “trigger events” Leverage our own social networks Empower sales
“Social CRM is a philosophy and a business strategy, supported by a technology platform, business rules, workflow, processes and social characteristics, designed to engage the customer in a collaborative conversation in order to provide mutually beneficial value in a trusted and transparent business environment. It’s the company’s response to the customer’s ownership of the conversation.”
Social fulfills the promise of CRM Every dollar invested in CRM = $5.60 CRM jumped from 18 to 8 in CIO priorities But the relationship was still transactional Data doesn’t tell the whole story Doesn’t make customers feel valued Communications Revolution! Social = a more personal relationship
Audience Participation Moment How many of you are using social media in your sales process?
Listening for the Intelligence Data Intelligence
Data vs. Intelligence – CSO Insights Assuming $1M Quota, Intelligence vs. Data => $110k/Rep Improvement
Tools of the Trade CRM Salesforce automation Marketing automation Customer service Social Intelligence
CRM - Increase Sales Productivity “In just 12 months, we shortened our sales cycles by 20 percent & increased our new business by 15 percent” Massimiliano Pianigiani, Sales Director, Mia Energia (Italy) “We’ve experienced productivity gains of 30-50 percent” Erica Vorsay, General Manager, Trans-Tasman Business Circle (Australia) “Our sales team has increased productivity by 30 percent while our customer service team has improved its response time by 50 percent.” Mahzan Miskam, Head of Information Communication Technology, UEM Land Group (Malaysia)
Improve Customer Service “The integration of SugarCRM throughout the business has reduced order processing from a half a day to less than one hour.” Naomi Simson, CEO, Red Balloon (Australia) “Our switch to SugarCRM means that we are now even better equipped to deliver excellence in customer service” Alex Pettefer, UK Group Marketing Director, Loomis (UK)
Better Visibility and Cost Savings “We have tripled the number of web leads, and increased the visibility into our business” Jennifer Maitland, Marketing Operations Manager, Caplin Systems (UK) “In just over a year we have reduced employer’s health care costs by 20 percent and reduced membership information processing time by 60 percent.” Marty Heaner, CTO, Tenzing Health (USA) “SugarCRM’s customization and integration capabilities have saved us tens of thousands in operational costs thanks to its ability to tie sales and back-office operations together.” Martin Ross, VP of Technology, Healthscreen (Canada)
CRM in an Open Ecosystem Mobile Cloud SugarCRM Open Ecosystem Integrations Social
Social Intelligence – InsideView| SLIDE :22 Real-time, customer intelligence Valuable social connections Integrated into CRM So sales reps can learn critical information to win more deals.
92%of prospects and customers never take a cold call or email
InsideView - a Different Approach A Sales Intelligence & Social Selling Company A Credit Rating Company A Data collection Company (consumer & business) A CRM Company A Social-Media Company | SLIDE :24
Intelligence to Sell B2P …….more INTELLIGENCE | SLIDE :25
√ Company Info ContactsPeople Insights ConnectionsWatchlists/Alerts List Building ç Right Right RightPerson Message Time
Selling to People, Not Contacts Find the right people & companies Right Person Discover how to connect with them Extend beyond your personal network • Learn about the person behind the contact RightMessage • Listen & engage in social conversations • Understand key company drivers today • Follow the right people & companies Right Time • Focus on the events that matter • Be the first to know | SLIDE :27
Key Benefits Find Better Prospects – right person, right time Expert Call Prep – faster, better Save Time – harness the web “all in one place” Increase Win Rates – higher conversions, and faster cycles Save Money – eliminate data subscriptions and list rental CRM Adoption – salespeople love it! Clean CRM records – sync external data into CRM Smarter, more confident, and better prepared.
Results Across the Revenue Cycle Marketing Sales Acct Find & Engage & Convert Management Qualify Leads Opportunities Renew & Upsell • Build deeper relationships • Find and target the right • Engage at right time, with • Get inside edge on new prospects right message opportunities. • Automatically enrich and • Reduce research time • Expand champions score leads • Accelerate opportunities • Deliver ongoing strategic • Run targeted micro- and mitigate risk value, not just upsells campaigns | SLIDE :29
InsideViewinside CRM• Company Info• News Alerts• Social Profiles• Financials• Family Tree• Industry Profiles• Connections• List Building• Sync to CRM
Are You Ready? Is your community social? How’s your culture? Are your core systems optimized?
Do’s and Don’tsDo… Don’t… Ask what your Assume you have to customers want be social Identify the channels Assume software solves everything Find mutually Treat all channels the beneficial outcomes same Be patient Just broadcast
What Have You Learned? What is Social CRM? Data vs. Intelligence Tools of the trade Are you ready?