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Win Clients and Accelerate Sales with Web 2.0 Technologies

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    Win Clients and Accelerate Sales with Web 2.0 Technologies - Presentation Transcript

    1. The Virtual Handshake: Winning Clients and Accelerating Sales with Web 2.0 Technologies Speaker: David Teten Teten.com TheVirtualHandshake.com info @ teten.com tel: 1-347-853-7397 New York, NY © Teten Advisors, LLC 2008. All Rights Reserved - Privileged and Confidential http://farm4.static.flickr.com/3047/2963638165_4d1ded2969_b.jpg
    2. Intro Traditional Sales Web 2.0 Signs Network Next Steps • Introduction • Traditional Sales • Web 2.0 • Signs of People and Companies You Want to Know • Growing Your "Network 2.0" • Next Steps © Teten.com
    3. Intro Traditional Sales Web 2.0 Signs Network Next Steps David Teten Biography • Currently: independent investment banker (Teten.com), specializing in advising private equity and venture capital funds on: accelerating deal flow, portfolio company executive optimization, corporate training, and due diligence • Managing Director, Evalueserve, through September 2008. 2,500-person research firm. • Founder and CEO, Circle of Experts (investment research firm), sold to Evalueserve • Founder and CEO, Teten Executive Recruiting, sold to Accolo, #42 on 2007 Inc. 500 • Founder and CEO, GoldNames, domain name investment bank, based in Israel • Technology M&A, Bear Stearns • Lead author, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com) • Harvard MBA, Yale BA • Contact: info @ teten.com © Teten.com
    4. Intro Traditional Sales Web 2.0 Signs Network Next Steps “Who You Know”….What is it Good For? • Sales • Raising capital • Getting a job • Pay and promotions • Influence and effectiveness • Organizational learning • Democracy • Personal health © Teten.com Source: Achieving Success Through Social Capital,Wayne Baker
    5. Intro Traditional Sales Web 2.0 Signs Network Next Steps Objections • Not enough time • Not enough facility with computers • Not enough money • Not sufficiently extroverted • Dislike viewing relationships instrumentally http://www.flickr.com/photos/fredcamino/3158748872/sizes/l/ © Teten.com
    6. Intro Traditional Sales Web 2.0 Signs Network Next Steps The Rules • “Begin with the end in mind” • Help • Iterate • Minimize effort • Save money • Positive http://flickr.com/photos/h-k-d/2898797929/sizes/o/ © Teten.com
    7. Intro Traditional Sales Web 2.0 Signs Network Next Steps • Introduction • Traditional Sales • Web 2.0 • Signs of People and Companies You Want to Know • Growing Your "Network 2.0" • Next Steps © Teten.com
    8. Intro Traditional Sales Web 2.0 Signs Network Next Steps Network Valuation Formula Ch = Character Co = Your Firm’s Competence R = Relevance of the contact S = Strength of your relationship I = Information N = Number of people D = Diversity N = D * ∑ (Chn*Con *Rn* Sn*In) n=1 © Teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (www.TheVirtualHandshake.com)
    9. Intro Traditional Sales Web 2.0 Signs Network Next Steps Balance of Strength and Numbers Average Strength = Minutes Available / Person Number = # People therefore… Average Strength * Number = Total Minutes Available © Teten.com
    10. Intro Traditional Sales Web 2.0 Signs Network Next Steps Firms Fail to Capitalize on Their Internal and External Networks • Knowledge is not readily searchable • Knowledge is not retained when employees leave • Relationships are not visible • Relationships are primarily tied to colocated people • Millennials expect and embrace social technologies © Teten.com Forrester Research/David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (www.TheVirtualHandshake.com)
    11. Intro Traditional Sales Web 2.0 Signs Network Next Steps • Introduction • Traditional Sales • Web 2.0 • Signs of People and Companies You Want to Know • Growing Your "Network 2.0" • Next Steps © Teten.com
    12. Intro Traditional Sales Web 2.0 Signs Network Next Steps “Web 2.0 is the business revolution … caused by the move to the Internet as platform, and an attempt to understand the rules for success on that new platform. ” - Tim O’Reilly http://en.wikipedia.org/wiki/Web_2.0, http://flickr.com/photos/oliversteiner/326174717/sizes/o/ © Teten.com
    13. Intro Traditional Sales Web 2.0 Signs Network Next Steps Web 2.0 © Teten.com http://www.flickr.com/photos/briansolis/2735401175/sizes/l/
    14. Intro Traditional Sales Web 2.0 Signs Network Next Steps Benefits of Online Networks • Searchable • Crosses boundaries of time and space • Passive presence • Ease of forming groups • Reduced time and expense • Greater visibility © Teten.com http://www.flickr.com/photos/uaeincredible/3333223048/sizes/o/
    15. Intro Traditional Sales Web 2.0 Signs Network Next Steps The Future of Online Networks • Online business relationships mainstream • Technology available now • Early adopters reap maximum benefits • Technology required to overcome some barriers, but education is solution • Systems that address privacy and time concerns will be leaders © Teten.com http://www.flickr.com/photos/extraketchup/748452643/sizes/o/
    16. Intro Traditional Sales Web 2.0 Signs Network Next Steps Sales Cycle and Web 2.0 Sales Cycle How a Technology-Enabled Network is an Accelerator Marketing • Become more attractive online • Become a searchable magnet for potential clients who need your services Identify Leads • Systematically update CRM system • Identify clients who have changed status and are now potential buyers Background • Review professional and personal lives check • Talk with client’s network: customers, competitors, suppliers Reach out • Identify commonalities Negotiate Deal • Gain insight into counterparty’s negotiating style, motivations Close Sale • Exploit all of the advantages you’ve built © Teten.com
    17. Intro Traditional Sales Web 2.0 Signs Network Next Steps Transition: Web 1.0 Web 2.0 Parameters Web 1.0 (Read) Web 2.0 (Read-Write) Governance Top-down Bottom-up Machine to Machine and People to Communication Channels People to Machine People Information Discovery Search and Browse Publish and Subscribe Information Retrieval Transactional Relationships Portal, Commercial Information Aggregation Micro-Aggregation Aggregators Marketing, Selling Push, Contextual Conversational, Personal Content Control Publishers, Aggregators Content Authors Content Structure Documents, Pages Tagged Objects Applications Closed, Proprietary Open, Standard-based XML, AJAX, RSS, PHP, MySQL, Technology HTML, Solaris, Oracle XQuery © Teten.com Partially sourced from: “Web 2.0 the Living Web and Putting “We” in the Web”, Bebo White, University of San Francisco (http://www.rthk.org.hk/mediadigest/20060915_76_121128.html)
    18. Intro Traditional Sales Web 2.0 Signs Network Next Steps The Virtual You • Corporate • Personal • Your digital trail © Teten.com
    19. Intro Traditional Sales Web 2.0 Signs Network Next Steps Search Engine Optimization • Scan your targets’ sites to understand their language • Use keywords INconsistently • Name what you’re selling (e.g., ‘resume’) • Optimize top of the page • Accuracy matters • Google Keyword Suggest © Teten.com http://flickr.com/photos/neilt/2517652/sizes/o/
    20. Intro Traditional Sales Web 2.0 Signs Network Next Steps Toolkit • Email groups file • Profiles file • Standard emails © Teten.com http://flickr.com/photos/neilt/2517652/sizes/o/
    21. Intro Traditional Sales Web 2.0 Signs Network Next Steps Powerful Emails • Direct E-mail • E-mail Signature © Teten.com
    22. Intro Traditional Sales Web 2.0 Signs Network Next Steps • Introduction • Traditional Sales • Web 2.0 • Signs of People and Companies You Want to Know • Growing Your "Network 2.0" • Next Steps © Teten.com
    23. Intro Traditional Sales Web 2.0 Signs Network Next Steps Growing Companies © Teten.com http://flickr.com/photos/laserstars/908946494/sizes/o/
    24. Intro Traditional Sales Web 2.0 Signs Network Next Steps Private Equity News • Dealbook.blogs.nytimes.com • PEHub.com • PENews.com • PrivateEquityInfo.com Venture Capital News • Mercurynews.com/vc © Teten.com
    25. Intro Traditional Sales Web 2.0 Signs Network Next Steps Companies that Hired People Like You © Teten.com http://flickr.com/photos/foundphotoslj/1134148114/
    26. Intro Traditional Sales Web 2.0 Signs Network Next Steps Databases © Teten.com
    27. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity • Introduction • Traditional Sales • Web 2.0 • Signs of People and Companies You Want to Know • Growing Your "Network 2.0" • Next Steps © Teten.com
    28. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch = Character Co = Your Firm’s Competence R = Relevance of the contact S = Strength of your relationship I = Information N = Number of people D = Diversity © Teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
    29. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Biography Analysis Software © Teten.com
    30. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch = Character Co = Your Firm’s Competence R = Relevance of the contact S = Strength of your relationship I = Information N = Number of people D = Diversity © Teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
    31. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Website © Teten.com
    32. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Blogging © Teten.com
    33. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch = Character Co = Your Firm’s Competence R = Relevance of the contact S = Strength of your relationship I = Information N = Number of people D = Diversity © Teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
    34. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Relationship Capital Management Software Relationships See which colleagues ranked by have best Strength relationships to target Email traffic patterns, address books, billing Privacy Access systems, employment Layer configured history, etc. for firm’s culture Leverage Software, Contact Network Corp., others…. Contact Network Corporation (ThomsonReuters) © Teten.com
    35. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch = Character Co = Your Firm’s Competence R = Relevance of the contact S = Strength of your relationship I = Information N = Number of people D = Diversity © Teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
    36. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Multiple Media • Phone • Email • Instant messaging • Internet telephony (Skype) • Web conferencing • SMS • Twitter © Teten.com http://flickr.com/photos/re-ality/41676755/sizes/o/
    37. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Online meets Offline © Teten.com
    38. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Maintaining Your Relationships • Useful emails • Advice • Calendar • Observe changes • Pit stops • In difficulty • Report major changes http://flickr.com/photos/dogbomb/1690343983/sizes/l/ © Teten.com
    39. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity How to Help People • Job leads • Introduce them • Coach • Thank people • Develop subordinate • Give “heads-up” • Do dirty work • Knowledge management system © Teten.com http://flickr.com/photos/schluesselbein/2963638165/sizes/l/, Dig Your Well Before You’re Thirsty, Harvey Mackay
    40. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch = Character Co = Your Firm’s Competence R = Relevance of the contact S = Strength of your relationship I = Information N = Number of people D = Diversity © Teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
    41. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Socialtext Wiki Case Study: Dresdner Kleinwort Investment Banking problem • Heavy dependence on email communication & meetings for decision-making solution • 5,000 wiki users benefits • Reduced meeting times by 50% • Reduced email traffic by up to 75% • Adoption outpaced corporate intranet usage within six months • Wiki today: 6,000 pages & 100,000 hits per month © Teten.com Socialtext
    42. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity From Cold Calling to Warm Cold Calling http://www.flickr.com/photos/23439761@N03/3258313816/sizes/l/ © Teten.com
    43. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Data from Business Cards © Teten.com
    44. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Data from Email and Files © Teten.com
    45. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Data from the Cloud © Teten.com
    46. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Targeting • Directly-relevant companies • Fast growth companies © Teten.com
    47. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Blog and Web Readers © Teten.com
    48. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Blog Analysis/Publishing © Teten.com
    49. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch = Character Co = Your Firm’s Competence R = Relevance of the contact S = Strength of your relationship I = Information N = Number of people D = Diversity © Teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
    50. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Gated Communities for Executives • IERGOnline.com • INMobile.org • Sermo.com • ComputerWorld Executive Suite (Exec.Compu terworld.com) © Teten.com
    51. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Gated Communities for Investors Private Equity Focus Public Markets Focus • ACG Network • FT Alphaville Long Room • Angelsoft.net • SumZero.com • Village.Albourne.com • ValueInvestorsClub.com • Finemrespice.com • Village.Albourne.com © Teten.com
    52. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Virtual Community Platforms / Social Network Sites • Groups.Yahoo.com • Groups.Google.com • Grouply • LinkedIn • Xing (c) 2008 Anderson Analytics, Linkedin, SPSS, http://www.marketingcharts.com/interactive/linkedin-users-have-high-personal-financial-success-6743/linkedin-anderson-analytics-busy-decision-makers-august-2008jpg © Teten.com
    53. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Mailing Lists and Discussion Forums • Customize standard intro • Lurk before you leap • Dive in, but don’t splash © Teten.com http://flickr.com/photos/kaibara/1231278142/sizes/o/
    54. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch = Character Co = Your Firm’s Competence R = Relevance of the contact S = Strength of your relationship I = Information N = Number of people D = Diversity © Teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
    55. Intro Traditional Sales Web 2.0 Signs Network Next Steps Character – Competence – Relevance – Strength – Information – Number – Diversity Take One Step • By industry • By geography • By personal characteristics © Teten.com http://flickr.com/photos/extranoise/169187125/sizes/l/
    56. Intro Traditional Sales Web 2.0 Signs Network Next Steps • Introduction • Traditional Sales • Web 2.0 • Signs of People and Companies You Want to Know • Growing Your "Network 2.0" • Next Steps © Teten.com
    57. Intro Traditional Sales Web 2.0 Signs Network Next Steps Web 2.0 is a better platform Parameters Face-to-Face Web 2.0 Judge by a Character SEC filings handshake Competence Personal resources Enterprise resources Relevance Semi-random Focused, searchable Strength Limited channels Multi-media Detailed, current Information Poor visibility data Number Small Large Restricted by time, Crosses time & Diversity space space © Teten.com
    58. Intro Traditional Sales Web 2.0 Signs Network Next Steps Step 1: Google Yourself © Teten.com
    59. Intro Traditional Sales Web 2.0 Signs Network Next Steps Step 2: Choose the Center of your Online Life © Teten.com http://www.flickr.com/photos/pathfinderlinden/157712296/sizes/l/
    60. Intro Traditional Sales Web 2.0 Signs Network Next Steps Step 3: Be a Data Hound © Teten.com http://flickr.com/photos/misterdna/49841409/sizes/l/
    61. Intro Traditional Sales Web 2.0 Signs Network Next Steps Step 4: Join the Right Club © Teten.com
    62. Intro Traditional Sales Web 2.0 Signs Network Next Steps Step 5: Connect with Your Best Contacts, then Find People to Meet © Teten.com
    63. Intro Traditional Sales Web 2.0 Signs Network Next Steps Step 6: Reduce Email Use © Teten.com
    64. Intro Traditional Sales Web 2.0 Signs Network Next Steps Common Mistakes • Confusing professional and personal • Not converting online to face to face • Not linking / adding widgets between sites • Failing to search engine optimize • Spamming • Looking needy • Searching for companies instead of people © Teten.com http://flickr.com/photos/misterdna/49841409/sizes/l/
    65. Intro Traditional Sales Web 2.0 Signs Network Next Steps Continuous Learning Free copy of the book available at TheVirtualHandshake.com © Teten.com
    66. Intro Traditional Sales Web 2.0 Signs Network Next Steps Any questions ? Slides at www.Teten.com Free book download at TheVirtualHandshake.com © Teten.com

    + David TetenDavid Teten, 9 months ago

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    How to Use Web 2.0 Technologies to Win Clients and more

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