Social Selling Index: Measure Your Social Selling and Drive More Pipeline

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Join leading experts from LinkedIn to learn more about how you can socially sell on the professional network -- and how you can measure your social selling prowess. Plus, learn major trends that SSI reveals about the sales profession around the globe!

Published in: Social Media, Business, Technology

Social Selling Index: Measure Your Social Selling and Drive More Pipeline

  1. 1. #socialselling Social Selling Index Webinar January 2014
  2. 2. #socialselling LinkedIn Icebreaker Earliest Adopter Shvet Kapoor Most Connected Jacqueline Dolphina Most Popular Most Endorsed Dennis Velasco Greg Hyer SALES SOLUTIONS
  3. 3. #socialselling What is social selling? SALES SOLUTIONS
  4. 4. #socialselling Social selling leverages your professional brand to fill your pipeline with the right people, insights, and relationships. SALES SOLUTIONS
  5. 5. #socialselling How can I use LinkedIn to socially sell? SALES SOLUTIONS
  6. 6. #socialselling Create a professional brand Establish a professional presence on LinkedIn with a complete profile Find the right people Prospect efficiently with powerful search and research capabilities Engage with insights Discover and share valuable information to initiate or maintain a relationship Build strong relationships Expand your network to reach prospects and those who can introduce you to prospects SALES SOLUTIONS
  7. 7. #socialselling Create a professional brand Complete your profile Aim for 100% profile completeness Use the right tone What would prospects or customers want to know about you? Be descriptive. Tell your story. Add rich content Slideshare deck, presentation video, etc. Showcase your skills Add skills and generate endorsements SALES SOLUTIONS
  8. 8. #socialselling Find the right people Proactively search Use advanced search & Lead Builder to pinpoint people more efficiently View prospects View details of potential prospects in your 1st , 2nd , and 3rd degree networks Expand your viewing Use Lead Recommendations to find more prospects at your accounts Check who viewed you Your activity drives views of your profile. Engage with relevant people who look at you. SALES SOLUTIONS
  9. 9. #socialselling Engage with insights Stay in the know Join groups and follow your prospects, customers, and their competitors to keep up to date Share valuable information Post relevant content that can help you become a trusted source of insight Engage with your network Share, like, and comment on content posted from your network Reach out to prospects Reach your prospects with InMails, connection requests, and other messages SALES SOLUTIONS
  10. 10. #socialselling Build strong relationships Connect with contacts Connect with your network and with prospects after introductions Focus on decision makers Focus on connecting to senior level people at your prospects and customers Connect internally Your colleagues will be able to provide you warm introductions SALES SOLUTIONS
  11. 11. #socialselling How can I measure how well I’ve adopted social selling? SALES SOLUTIONS
  12. 12. We created the SSI formula from survey research and behavioral analytics Conducted survey of ~5000 sales reps to get a sample of “top performing” reps Used survey results to understand what top performing reps do on LinkedIn.com Brainstormed & calculated ~ 50 activities that good social sellers might do on LinkedIn Final formula kept variables that were correlated with sales success, weighted based on their predictive nature Formula design SALES SOLUTIONS
  13. 13. LinkedIn’s Social Selling Index measures adoption of social selling practices on a 0-100 scale ABC co Social Selling Index 57 Create a professional brand 16 Find the right people 15 Engage with insights Build strong relationships 8 Performance on four key dimensions, each worth 25 points 18 SALES SOLUTIONS
  14. 14. #socialselling Why is social selling important? 45% 51% more opportunities more likely to hit quota SSI leaders create 45% more opportunities per quarter than SSI laggards. SSI leaders are 51% more likely to hit quota than SSI laggards. Based on a global study LinkedIn ran in Q4 2013 of Q3 performance for reps focused on new business and reps focused on existing business. Respondents reported performance; they were matched to their LinkedIn profiles to understand their SSI.SSI leaders have an SSI > 70; SSI laggards have an SSI < 30 SALES SOLUTIONS
  15. 15. #socialselling So what can the Social Selling Index tell us? SALES SOLUTIONS
  16. 16. Some industries have been quicker to adopt social into their sales process than others Technology - Software 28 Professional Services 23 Media & Entertainment 20 Telecommunications 19 Technology - Hardware 19 Oil & Energy 19 Financial Services & Insurance 18 Government/Education/Non-profit 18 Healthcare & Pharmaceutical 17 Architecture & Engineering 16 Manufacturing/Industrial 15 Aero/Auto/Transport 15 Retail & Consumer Products 12 SALES SOLUTIONS
  17. 17. Hunters are much more likely to use social than Farmers – their SSI is 44% higher +44% 52 42 36 Farmer Mix of farming and hunting Hunter Based on a global study LinkedIn ran in Q4 2013 of ~5000 sales professionals. SSI data is from August 2013. Respondents self identified their roles. SALES SOLUTIONS
  18. 18. Reps with longer tenure in their current role have a significantly lower SSI 60 Average SSI 50 40 Hunters 30 Mix Farmers 20 10 0 < 1 year 1 - 2 years 3 - 5 years 6 - 10 years > 10 years Tenure in current role Based on a global study LinkedIn ran in Q4 2013 of ~5000 sales professionals. SSI data is from August 2013. Respondents self identified their roles. Tenure is based on length of time in most current role on profile SALES SOLUTIONS
  19. 19. #socialselling So how can my team improve at social selling? SALES SOLUTIONS
  20. 20. LinkedIn helps your team improve at selling socially Our sales reps and customer success team partner with you to support your social selling initiatives. 3 Months After Activation Social Selling Index + 26% Create a professional brand + 17% Find the right people + 25% Engage with insights + 40% Build strong relationships Avg. increase in SSI seen by Sales Navigator customers in the first 3 months after activation. + 29% SALES SOLUTIONS
  21. 21. In case you’re curious, webinar attendees average an SSI of 48 96 1st Jennifer Banks 92 2nd 80 Greg Hyer 60 91 3rd 50 Eirini Giannou 40 30 20 10 95-100 90-95 85-90 80-85 75-80 70-75 65-70 60-65 55-60 50-55 45-50 40-45 35-40 30-35 25-30 20-25 15-20 10-15 5-10 0 0-5 # of attendees 70 SSI bucket SALES SOLUTIONS
  22. 22. #socialselling Request your SSI report to see how you measure up! SALES SOLUTIONS
  23. 23. #socialselling SALES SOLUTIONS 23
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