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Sales 2.0 – Faster Sales
in a Sluggish Economy
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S A L E S 2 . 0 FA S T E R S A L E S I N A S L U G G I S H E C O N O M Y
Sales 2.0
Faster Sales in a Sluggish Economy
As the U.S. economy grows more uncertain, it is have access to masses of information. Salespeople
easy to be pessimistic. But there are plenty of oppor- must guide customers to just the right information
tunities. Companies in many sectors are still buying to help them make a decision.
strongly. And fortunately there are tools out there There is another dynamic in place. “Sales 2.0 levels
that will help you find those companies and close the playing field between buyers and sellers so that
deals. Sales 2.0 is about harnessing and leveraging companies can instantly view and serve prospects
the Internet to sell more, faster. Best of all, Sales 2.0 who enter their online store,” explains Thompson,
technologies are easy to use, show quick returns, whose Genius.com is a Sales 2.0 pioneer providing
and are very affordable – even for companies that real-time email and website tracking solutions for
are looking to save every penny. sales and marketing professionals.
The Internet has created a wealth of information Genius.com’s SalesGenius tool instantly alerts reps
for buyers. They can window-shop when prospects opens their emails
from their desks and find more “Sales 2.0 levels or go to their website. Reps can
information than has ever been instantly see each page visited to
the playing field
possible. This has shifted power to determine the prospect’s true inter-
buyers, who no longer need to rely between buyers and est, and all this is done without assis-
on salespeople for information. But sellers so that tance from technical specialists. “In a
sales managers can use Sales 2.0 companies can Sales 2.0 world your website is your
technologies to tap into these new instantly view company store,” Thompson empha-
buying habits to instantly interact and serve prospects sizes. “Until now B2B reps had no
with prospects and provide person- way to serve customers browsing for
who enter their
alized service. Sales 2.0 enables an products. With Genius solutions you
almost instant exchange of infor- online store.” can reach out to customers who are
mation between selling companies actively buying and help them make
and buyers. their selection, just like at Nordstrom.”
“Sales 1.0 was about information; Sales 2.0 is
about interaction,” says Selling Power publisher The Sales 2.0 Funnel
Gerhard Gschwandtner. “The goal is to find more Sales 2.0 technologies help organizations through the
meaningful ways to interact with customers.” And entire buying cycle. They help you attract, interact,
Sales 2.0 is natural for modern salespeople. “Sales track/manage, close with, and resell to your customers.
2.0 builds on skills and interests of a new generation
of sales professionals,” says David Thompson, CEO Attract
of Genius.com. “They bring expertise with tech- The Sales 2.0 funnel starts with marketing to attract
nologies such as instant messaging, social networks, prospects to your website. Some prospects are
search engines, and email to the workplace.” known individuals who provide the best chance of
The new Internet, Web 2.0, deepens the kinds getting into specific accounts, often reached via
of information that selling companies can exchange email campaigns or newsletters, or perhaps through
with prospects and customers, while making the online resources such as Jigsaw and LinkedIn. Other
exchange of information more efficient and effective. prospects are unknown visitors who click to your
Web 2.0 affects how sellers and buyers exchange website to learn about products or services. Visitors
information and who has access to it, all while can now be drawn to your website by smart use of
enhancing the ability to build useful long-term busi- keyword advertising, and they will click over from
ness relationships. their Yahoo! or Google searches.
The pace of information exchange and flow has
increased. That creates opportunities for salespeo- Interact
ple who are able to contact the right person, at the Once visitors reach your website, you want them to
right time, with the right message. The Web 1.0 get information easily. In the Sales 2.0 Funnel you
world helped your reps sell. Today, dynamics have can use, for instance, SalesGenius, WebEx web-con-
changed. It’s all about helping customers buy. They ferencing, or Brainshark Presentations to interact
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S A L E S 2 . 0 FA S T E R S A L E S I N A S L U G G I S H E C O N O M Y
A Sales 2.0 Process Example
Public Relations
Convert
Traffic Anonymous Named
Visitors Visitors
Qualify Lead Conversions Free Trial
Corporate Leads Other Call To Action The funnel image shows the
different ways in which sales
Lead Follow-up 2.0 technologies assist in
Manage Pipeline SLA Evaluations helping move prospects
through the pipeline in ways
that are more efficient than
traditional sales techniques.
Sales Deals ASPs It also shows how sales
and marketing work more
effectively together to acquire
new customers and retain
Loyalty Usage current clients.
with customers while they are online and engaged. CRM, and Oracle On Demand. These can be hosted
All these products have a strong customer-service or on-site, open source or proprietary, integrated or
component while offering an instant and more com- best-of-breed, and are suited to companies of any
plete understanding of customer interests. Thomp- size. Sales, marketing, and customer support can
son calls this the online equivalent of observing have a unified view of all customer information.
body language. Soon other departments like production and
The sales team then prioritizes efforts to pursue research will also be able to see every customer in
the most qualified and interested prospects first. detail through CRM.
Individual sales reps give Web visitors high-touch,
personal, and consultative services, efficiently and Close
immediately. Or, as Gschwandtner puts it, “Sales- Closing customers is the fourth part of the Funnel
people can ditch their pitch and start co-creating and the special responsibility of salespeople. Sales 2.0
solutions with their customers.” tools are making reps’ closing tasks easier, faster, less
Other Sales 2.0 tools shorten the sales cycle by expensive, and more effective. With Sales 2.0 reps
communicating with visitors on their schedules, won’t waste time or let deals fall through cracks at the
after normal business hours, and send compelling last minute. Contract management and signature col-
messages in formats customers want. New tech- lection are automated and handled electronically. New
nologies also research each prospect, keeping reps technologies, such as EchoSign, track preliminary cus-
current on the latest developments and making tomer commitments through to final, signed deals.
communications more welcome and productive. Other tools automate the quoting cycle, from quote cre-
ation through configuration to proposal generation,
Track/Manage reducing bottlenecks, delays and work.
In this stage companies track and manage cus-
tomers for sales and marketing with Customer Rela- Loyalty
tionship Management (CRM). There are many CRM The final step, cultivating loyalty, nurtures customer
options available, including Salesforce.com, Sugar- relationships to maximize earnings and enhance
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S A L E S 2 . 0 FA S T E R S A L E S I N A S L U G G I S H E C O N O M Y
your firm’s reputation with future customers. Here, closely. Marketers must know immediately what
Business intelligence (BI) tools can help by analyzing programs are working, which need to be tweaked,
customer data to streamline sales and ensure that and which can be dropped to save money. Reps
correct prices and products are offered to each cus- and Sales 2.0 technology provide this critical feed-
tomer. BI also helps build loyalty by spotting possible back to marketers.
trouble early by checking for returned items, can- Sales reps are not order takers, turf protectors, or
celed orders, and disappointing order volumes. goalies guarding the business. Let accountants worry
Sales 2.0 community tools enable more interac- about defense, cash flow, and survival. Reps must
tions, with your employees sharing knowledge with win new business, while extending and expanding
customers and customers sharing knowledge with profitable relationships. They need to think and act
each other. Community tools encourage others to assertively. Sales 2.0 technologies help here, by yield-
participate in discussions of your products and mar- ing faster insights, enabling more proactive sales,
ket demands. Chat rooms, buddy lists, private mes- and benefiting customers as well.
saging, and RSS feeds are rich sources of news Reps must stay confident and alert and avoid the
about the market, your product’s reception in it, security blankets, such as long lunches with old
and possible new leads. accounts, that take time from hunting. They must be
tough and persevere, since victories
Selling Faster Marketing drives will come, but not as easily as before.
Economic slowdowns can have a Extra motivation and tight focus
demand, bringing
silver lining. Companies that keep on specific sales goals are the rea-
an eye on the future emerge from a prospects to your sons for non-cash incentives, con-
slowdown with fewer competitors, website, and then tests, and prizes. Salespeople need
but only if they have the right sales interacts with incentives more, not less, when busi-
vision. Gschwandtner urges sales prospects as they ness slows. The aim is not a record
leaders to keep one eye on the mar- browse the site, year, but the best year possible under
ket and the other on “intelligent difficult circumstances. That may
to understand needs
design of the company’s sales infor- mean getting new products to mar-
mation ecosystem.” and close faster with ket fast, before competitors launch
Sales 2.0 exploits technology to better service. alternatives. Or it might mean push-
make your website an interactive ing discount offers to maintain vol-
store, where salespeople meet and greet customers ume. Well-structured incentives pay for themselves in
and offer personalized service based on specific incremental revenue.
needs. In a Sales 2.0 world everything is measur-
able so that organizations can improve their Cutting Fat
processes to be more productive and more cost With Sales 2.0 you can greet your prospects online
effective. “Sales 2.0 technology frees salespeople instead of hopping on a plane for a face-to-face meet-
from trivial chores,” Gschwandtner says. “It’s ing. Although in-person meetings are important,
designed to speed up the sales process, improve they aren’t always necessary. Technology can help
productivity, and give salespeople back the time you cut travel costs and save precious time. Why
to spend with customers.” spend time in airports when you can be dealing
Customers are eager for this change as well. “Cus- directly with customers?
tomers expect much shorter sales cycles,” Thomp- Slowdowns end and upturns benefit companies
son says. “The advent of e-commerce sites has that prepare for them. Slowdowns provide opportu-
trained them to expect one-stop shopping and nities for companies to create awareness, differentiate
instant gratification.” their products, and build loyalty. Use this time wisely.
Marketing drives demand, bringing prospects to For example, slack sales periods are great times to
your website, and then sales interacts with prospects work with the major customers you know you must
as they browse the site, to understand needs and rely on in the future. You can extend collaborative
close faster with better service. Tight collaboration efforts to new markets and companies that may be
between sales and marketing is essential to make important eventually.
the Sales 2.0 Funnel work. Moreover, salespeople, as Let customers know what possibilities product
well as technology, must be at the top of their games. development is working on. Learn, more deeply
Sales runners must follow marketing blockers than you usually have time to, where customers are
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S A L E S 2 . 0 FA S T E R S A L E S I N A S L U G G I S H E C O N O M Y
going. Get together, physically or virtually on the ply selling. They need to help shoppers buy. They
Internet, to find out how both sides can reap maxi- need to find more ways to talk to and learn about
mum profits when the recovery begins. new customers. They need to point customers
Cold calling, qualification, appointment setting, towards products that solve immediate needs.
and customer service are important steps in sales, Genius.com can help reps make these changes by
but they are not the best use of highly paid sales exploiting technologies to sell faster, smarter, and
reps’ time. Neither is filling out lengthy call reports more effectively. SalesGenius lets reps track how
or completing entries in an awkward and some- prospects respond to emails and navigate websites,
times ineffective CRM system. without programming, assistance from IT depart-
So use the slowdown to improve the efficiency, ments, or changes to corporate websites or servers.
not only of your sales process, but also of your entire To take it a step further, their latest release, Mar-
lead generation and qualification process. For ketingGenius, gives Sales and Marketing managers
instance, are there better ways to bring together complementary power to exploit Sales 2.0 benefits.
your marketing and sales activities so marketing To save reps time, managers turn to marketing or
can drive more efficient lead generation and get designate a sales support staffer to prepare and send
qualification info to sales more quickly? Which non- emails on behalf of their team or on behalf of indi-
sales functions can be done more vidual reps. Each rep is then instant-
efficiently by marketing or sales Even top reps can ly notified when emails are opened
support staff? Which systems can expand their skill or when website visits occur. Man-
be made simpler and faster? Sales agers can also see reports of activi-
at consultative sales,
2.0 can save major time here. ties and responses for the team and
And how can reps become better negotiating, and for individual reps. MarketingGe-
at future sales? Train them in skills understanding their nius also gives reps the ability to
they have been weak on or have not customers, from operations create personalized Web greetings
learned when too busy. Especially all the way to bottom-line and instant promos, allowing them
under Sales 2.0, every rep needs to financial statements. to chat with prospects while they
know how to score prospects for are online visiting the company
Sales 2.0 provides
sales potential and prioritize efforts website, and then close deals in real
to maximize sales. Sales veterans the data, but reps must time – again without any assistance
may need time to learn how to be able to interpret it. from the IT department.
exploit software. Inside reps can With SalesGenius for salesforce.
improve up-selling and cross-selling skills. Even top com all this response and visit data is connected to
reps can expand their skill at consultative sales, nego- their Salesforce.com record and is viewable inside
tiating, and understanding their customers, from each lead record.
operations all the way to bottom-line financial state-
ments. Sales 2.0 provides the data, but reps must be Genius Results
able to interpret it. These solutions are paying huge dividends. A sales
Managers must keep spirits up by paying attention team leader at Webex added 10 qualified leads per
to what bugs or inspires each rep. Reps who need rep each week and more than $100,000 in new
praise and attention must learn that harried man- business by using SalesGenius. The VP sales at
agers are trying to boost business, not just ignoring PrintRunner tripled his print jobs with one promo-
them. Perfectionist reps who need certainty must tion, netting $140,000, and even had to suspend
adjust goals for slow markets and work hard to email campaigns because his shop ran out of capac-
achieve them. Natural worriers must focus on spe- ity. The CEO of Catapult New Business, a develop-
cific steps, not the big picture, which may be disap- ment consultancy, reports a 15 percent improvement
pointing. Over-optimistic reps must be brought back in the productivity of calling prospects and major
to earth to concentrate on practical goals, not impos- savings in administrative time.
sible dreams. The easily frustrated and grouchy must With a Sales 2.0 mind-set smart sales organiza-
learn that everyone shares their frustration. tions can speed up even in a slowing economy. To
find out just how, go to www.genius.com for a free
Work Smarter and Harder trial, attend a webinar, or visit other Sales 2.0 com-
Now more than ever, salespeople must do more pany websites to put the power of the Internet to
with less. Reps must get out of the business of sim- work for you. •
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About Genius.com
Genius.com Incorporated is the leading on-demand provider of B-to-B marketing solutions that enable
sales and marketing professionals to instantly identify and connect with their best prospects online,
without IT involvement. Over 500 corporate customers and 35,000 users worldwide have adopted Genius
solutions, including SalesGenius? and MarketingGenius®, to simplify and improve lead generation and
qualification efforts. Genius.com's unique technology delivers instant email campaign results and prospect
website visit tracking directly to frontline Sales reps, so they can immediately qualify and follow-up on
their best opportunities. Genius.com pioneered Sales 2.0, a group of leading on-demand vendors whose
solutions leverage Web 2.0 technologies to improve sales connection and close rates. Genius.com is
a privately held company, funded by Accel Partners, Mohr Davidow Ventures, Emergence Capital and
Walden International, with headquarters in San Mateo, CA. For more information visit www.genius.com
or email info@genius.com.