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The Definitive Guide to Social Selling, How to Sell to People, Not Contacts

The Definitive Guide to Social Selling, How to Sell to People, Not Contacts

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  • 1. The Definitive Guide to Social SellingHow to Sell to People,Not Contacts
  • 2. Table of ContentsPart One Part FourWhat is Social Selling? Real-Life Success Stories • Why does your business need Social Selling? • Listening • Who within your organizations needs to use Social • Reach Selling? • The return on investment for Social Selling Part Five Best Resources to Learn About Social SellingPart Two • Top People to FollowSocial Selling Basics • Best Blogs to Read • Finding the right person • Creating the right message • Knowing the right timePart ThreeSix Tenets of Social Selling 1. No more islands of information – your CRM is not enough 2. People are not contact records 3. More data is not the answer 4. No more cookie-cutter process 5. Impact performance. Not reporting. 6. From look-up to intelligence The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 2
  • 3. What is Social Selling?Why does your business need 2. Your competition is there, and if not, will be soon. Your competitors have been asking this same questionSocial Selling? and are making the decision to integrate Social Selling principles into their process and culture. Your legacyContent by Miles Austin, Sales and Marketing Technologist competitors might be grappling with how to get thisat Fill the Funnel, Inc. done, but rest assured recently launched competition is already using these principles and getting results.This is a question that every business leader or owner Can you afford to wait?should be asking. The answers can be a bit frighteningbecause Social Selling will require leaders to re-think and 3. Your employees and new hires expect it. Theymany times restructure the expectations, structure and know what is going on with their customers andtools used by their employees. prospects. Many of your sales team have already created a social presence and are doing the best theyThree key reasons why your business needs can to do things right. You have the opportunity toSocial Selling are: support their activity and to give them the guidance, content and strategy to succeed. Companies are1. Your customers are already there. Studies are beginning to use their well-developed Social Selling showing, “On average (and with little variation programs to attract and recruit new employees. among industries) customers will contact a Sales Competitors are able to provide an enticing offer to rep when they independently complete about 60% your current performers if you have not embraced of the purchasing decision process.”1 If you want to Social Selling. maximize your selling opportunities, you cannot afford to lose out on that significant segment of buying activity. 1 http://mlcwideangle.exbdblogs.com/2011/08/31/the-most-important-number-in-b2b-marketing/ The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 3
  • 4. Who within your organization needs Right now, your prospects are reading about your products and services on blogs and in forums (onlineto use Social Selling? communities specific to a brand owner, LinkedIn groups, etc). They are scanning YouTube videos, LinkedInContent by Barbara Giamanco, EVP Sales and Social Media profiles, Focus forums, Tweets and searching on Googleat Social Centered Selling, LLC for information about what they want to buy and from whom; they are ignoring the text on your website.The Conversation Has Begun…Without You! While your company is creating marketing materialsBuyers complete 60% of the buying cycle before designed to close the sale, your prospects are usinginteracting with sales. For sales organizations to succeed social networks and social technology to decide forin today’s social business environment, they must first themselves. This is the new world of “social selling.” accept that buyer behavior has changed. Buyer 2.0 isweb and social media savvy, informed and probably Are you ready?knows more about you than you know about them. In this With the advent of Web 2.0 technologies, the buyingnew world, buyers start the sales process without you, process has changed. In a social sales world, most B2Bwhich means that sellers must shift from a transactional (business to business) buying decisions now start, moveapproach to the sales process to a solution oriented, forward and are very often closed online or over thevalue focused, and socially connected approach. phone without a single face-to-face meeting. That’s a frightening thought for the sales professional who has long believed that the only way to “close a deal” is to be sitting across the table from the prospect. SalesBuyer 2.0 is web and social media people must also recognize and leverage the emphasissavvy, informed and probably that buyers now place on recommendations, comments and the referrals of others. Oh, and by the way, you canknows more about you than you leverage technology for face-to-face connections usingknow about them tools like www.imeet.com. The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 4
  • 5. Intelligence Is Key This has heightened the need for comprehensive salesAs we use tools like LinkedIn, Facebook and Twitter, the intelligence that brings together both traditional datanumber of people who we maintain some degree of one- and social media. It is imperative that sales professionalsto-one contact and connection with via peer networks leverage the social web to actively listen, engage, and addand groups have dramatically increased in the past few value to the customer conversation.years. Social sales people will use these tools to becomemore adept at successfully navigating the first few critical What You Know about Who You Knowphases of the sales process: investigating and early The new social customer demands a new approachqualifying. Better information leads to better qualification from sales organizations. Your prospects are looking forof sales opportunities. And, used effectively, social Trusted Advisors who know their business. The need fornetworking shrinks the physical time it takes to move the comprehensive, real-time data is imperative to salesopportunity to close. professionals who must leverage the social web to actively listen, add value to the customer conversationSocial selling is about recognizing that the buying process and create sales relationships in new ways. Do you haveis controlled by a better informed and more connected the tools in place to help your sales team be effective incustomer. While sales remains a relationship-driven this space?business, the power of “who you know” is trumped by“what you know about who you know and when you know.”The new social customer is demanding relevance from The Return on Investmentsales people, expecting them to know about them, theircompanies, their needs, and when to engage with them. For Social Selling Content by Anneke Seley, Founder of Phone WorksWhile sales remains a relationship-drivenbusiness, the power of “who you know” is With more and more customers using social media totrumped by “what you know about who gather information about products and to communicateyou know and when you know.” with vendors, many companies are trying to figure out how social media technologies can be used most effectively to meet the needs of the new online customer The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 5
  • 6. – while generating revenue. Companies are startingto report clear, measurable results from their socialinitiatives:• A Wisconsin hospital and HootSuite customer is seeing a 15% conversion of leads to sales using live tweeting during orthopedic surgery.• In a pilot program selling to ibm.com customers, IBM closed 10 orders in 30 days after implementing new social initiatives. They had a 400% increase in sales in the first quarter tied to social marketing programs.• 95% of pipeline and 30% of revenue at SaaS video/ gamification/analytics startup PAKRAGames can be tracked to social outreach (LinkedIn invites and tweets).• Adobe Omniture doubled its opportunity-to-call ratios, resulting in more opportunities generated by its account development teams.These are the kinds of metrics and data, backed bywell-known brands as well as small-and medium-sizedcompanies, that can change your executive team’sperception of social selling from time-waster to revenue- 75% of buyers are likely to usegenerator. social media in the purchase process in the future The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 6
  • 7. What are some ways to use data and metrics to 2. Track inbound leads generated from social leadsucceed with Social Selling in your company? generation marketing programs using links back to your (or your rep’s) website. 1. Reference industry surveys to “sell social” internally. If possible, survey your buyers…or find evidence that Train your sales team to post or re-post customized they are engaging in social media. versions of marketing-generated messages that are meaningful to their customers and prospects who Business.com reports that 55% of B2B survey are Twitter followers, LinkedIn connections, Facebook respondents conduct searches for information on friends and the like. Then, using your CRM or other social media sites. SiriusDecisions says 60% of the systems, track these leads through the marketing and buyer’s journey is complete before it gets to sales. You sales cycle and make a connection between social may be able to sway skeptical executives with hard marketing and revenue. Keep in mind that best- facts. performing companies find that mixing these kinds of direct marketing-oriented social interactions with To justify their investment in social marketing and other “non selling” posts such as sharing articles, sales programs, IBM surveyed over 1,000 global opinions and other content from thought leaders and buyers and found that 1/3 have already used social influencers in your industry yields the best results. media to engage with their vendors. Furthermore, they discovered that 75% of their buyers are likely to 3. Use social media to research, target, and connect with use social media in the purchase process in the future. your ideal (pre-qualified, most likely to buy) prospects. Then track social interactions along with phone and e-mail. Connect with them Using social media in conjunction with phone and e-mail can increase sales cycle conversion metrics using personal, customized, such as the critical connect rate. It’s getting relevant messages increasingly more difficult to get busy people to respond and engage, especially in outbound prospecting. Know which companies and titles are The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 7
  • 8. most likely to be interested in your products, then prospect using social media profiles but also to getconnect with them with personal, customized, relevant warm introductions through individual and companymessages (not generic scripts) – something made social graphs, for example, connecting through referencepossible and easy with social tools. customers or fellow alumni. Using this approach, PAKRA gets 17 out of 20 people It’s time to face reality. Industry data, metrics, and successto accept LinkedIn invitations and connect within stories, such as those mentioned above, prove that36 hours. A second short follow-up message, also prospects are using social media to educate themselves,personalized to that buyer, includes a link to their connect with sellers and make buying decisions. Leadingwebsite. 10 out of 20 respond at that stage. companies are figuring out how to appropriately use, track and measure their social selling initiatives andThey’ve found that engagement can be tied to incorporate them into already-existing processes used inmentioning: their sales organizations will see performance. • Something work-related (85% of the time) • A book they are reading (5% of the time) • Other personal information (2% of the time) • Content provided in discussion groups (1% of the time) You can build and fosterWith social media, it’s often more than just work relationships with unlimitedinformation and can also include how sales andmarketing can leverage personal and company social prospects, partners andgraphs. Network Hardware Resale (NHR) has alsobeen using social media in conjunction with email influencers at very little cost.and phone to generate meetings with the rightprospects, and has quadrupled meeting acceptancerates from 15% to 60%. For NHR sales reps, the key isto not only craft relevant messages for each The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 8
  • 9. The Return on Investment for updated features in Salesforce.com. For the first time, you can see integrated social media accounts and interactionSocial Selling, Part 2 activity right in your core sales management platform.Content by Matt Heinz, President of Heinz Marketing, Inc. Here’s why that’s so important: Let’s say you have 80,000 leads in Salesforce.com. YouSocial media is not a direct-response channel. I think we know 40,000 of them have Twitter accounts. Of those,can all agree on that. But it absolutely is part of the sales you also know that 6,000 are following your Twitterfunnel for your business.It’s where you can buildand foster relationshipswith unlimited prospects,partners and influencersat very little cost, addingvalue on a daily basis untila percentage of thoseindividuals and organizationsare ready to move forward –either into a conversation oran active buying cycle.Establishing a quantitativevalue for social media asa component of the salesfunnel has been difficult,largely because we relyon disparate systems toestablish causality. Thatchanged last fall with The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 9
  • 10. account, and you know exactly which of those 6,000 haveresponded or interacted with you in that channel.When that lead makes its way through the funnel – toan open opportunity and eventually a closed deal – youcan now establish the source of origination and primarycausality of pipeline movement back to the social mediaactivity.Social media may not be a direct-response lead channel,but with this level of integration you can evaluate itseffectiveness and ROI as an eventual sales producer in anapples-to-apples format with email, direct mail, events,etc. And if prospects have been impacted by multiplecampaigns and channels (and most likely have), you canstill measure and weight the primary causality factors allin a single platform.That’s powerful stuff, and it will help many organizationsfinally bridge the gap between their focus on leads andsales, and the importance of investing in long-term socialand content-based relationships well before customersare ready to buy. The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 10
  • 11. Social Selling BasicsContent by Miles Austin, Sales and Marketing Technologist Dan Rather or our local newspaper. Now we receiveat Fill the Funnel, Inc. information throughout the day from Twitter, RSS, blogs and YouTube as they happen, all on our smartphone orDo we really need another wave of selling philosophy? computer. These changes require us to re-think our salesSome of us will remember “spin selling,” “consultative methodology to incorporate these new realities into ourselling” and many other effective sales methodologies approach.over the years. It seems that every twenty years or so,sales thinking evolves to reflect the changes in our culture Social Selling is about recognizing that buyers are now inand technology. control of the buying process. They are better informed and more connected. Even the long-standing belief thatThink about the changes that have occurred during the relationship is the most important factor in B2B salespast twenty years. We have moved from snail mail and success is being challenged.2 voicemail as the primary communications vehicles toemail, blogs, websites and online presentations. We usedto order the Annual Report for the companies on ouraccount list; now we simply go to the web to find the verylatest information about our prospects. Remember thehoops you would have to jump through to get informationfrom the “gatekeeper” about the individuals with thebuying decisions? Now Data.com (formerly Jigsaw), Buyers are nowInsideView, LinkedIn and others are able to providenot only the name of those individuals, but their email in control of theaddress, phone number and more with the simple click buying processof your mouse. We all got our daily news update from2 http://www.forum.com/blog/strategic-selling-how-to-sell-to-senior-executives/ The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 11
  • 12. The graphic below reflects the responses of 231 senior- Here are three areas to consider when embracinglevel decision-makers when asked to rank the most Social Selling:important criteria they use: Finding the right person. Social web tools have the ability to eliminate this long-standing obstacle for salespeople. There is no excuse for not having current, accurate name, title, email address, location and much more. You now have the ability to learn who influences customers by their social graph. Utilizing web tools to gather this information is now a common denominator for everyone that sells in a B2B marketplace. It is important to realize that your buyers will frequently know as much or more about you, your background and interests than you know about them. Social platforms are not a one-way mirror, available only to sellers. It is expected that you will do your homework prior to any contact and will tailor how you communicate and what you share to not waste their time. Creating the right message. If you have beenhttp://www.forum.com/blog/strategic-selling-how-to-sell-to-senior-executives/ using social media as a listening tool, you will know what information the buyer is still seeking. By “listening” toThese changes demand the availability of dramatically their questions on LinkedIn, by knowing which pagesimproved sales intelligence that combines traditional they have visited on your site, which downloads anddata and social media, readily accessible by everyone videos they have seen, you are well equipped to focusinvolved in the sales process to provide information that your message directly to where they are in the selectionwill help sellers possess the information at the top of their process. Are they looking more at product information,prospects requirements. or background on your company? Sales intelligence The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 12
  • 13. web tools will tell you who their current provider is. You have the ability to learn what external and internalforces might be driving this activity for them. Reportingstructure, decision trees and buying influencers are allnow more visible. This information, gleaned from multipletools and sources, will better equip you to direct your Add value to themessaging and communication directly towards what they right person,will need to continue to move along the buying cycle atthe right time. with the right message at theKnowing the right time. Attempting to sell to right timeyour prospect before they are ready to buy can derailthe opportunity completely. Listen to their questions.Understand who influences them, and the reasons theyare seeking a solution. Learn the drivers behind thebuying decision timeline and incorporate them into yourtiming. You are able to use social web tools to gatherinformation and formulate a 360-degree view of yourprospect, their influencers and their company. When theyare at the stage that a decision needs to be made, you willhave earned the right to be the one they choose.Social Selling success requires you to leverage the socialweb and web tools to actively listen, engage, and addvalue to the right person, with the right message at theright time. The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 13
  • 14. The Six Tenets of Social SellingContent by Craig Rosenberg, VP of Sales and Marketing at you are not leveraging real-time information about yourFocus, Author of Funnelholic customers before you reach out, then you aren’t selling.1. No more islands of information – The question becomes: How do youyour CRM is not enough harness the incredible information available to you? CRM is not enough.Never before in the history of sales have our prospects There are two main reasons:and customers willingly and publicly updated what theydo, how they feel, and what they care about every day. 1. CRM data is very rarely updated – If a company isEveryone asks me: What do you think of social selling? diligent about it, their CRM data is typically updated atMy answer: What is there to possibly to think about? most twice a year. We’re talking about two types of data –Your prospects and customers are basically out there contact data e.g., name, address, email, and phone whichpublishing information that you can leverage to build often becomes outdated quickly because people changereal, meaningful relationships with them. NOT taking jobs and roles, and transactional data such as trouble-advantage of that is a crime. Remember that dumb tickets, new activities, etc. The second type of data isquestion: What keeps you awake at night? Don’t ask typically updated frequently by call center agents, salesthat anymore because you can know it before you call reps, and order desks when they touch prospects anda prospect. Call it social selling if you like, but really, if customers. But contact data is rarely updated or, even worse, there isn’t a reliable source of accurate contact data to update it with.Remember that dumb question:What keeps you awake at night? 2. CRM data can’t tell you the whole story – ContactDon’t ask that anymore. information is obviously important in order to reach someone. However, what can turn the needle for a The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 14
  • 15. sales person is finding out a big project your prospect is phone or to have a substantive conversation with customersworking on is actually going to help you make the deal. Or when we do connect with them on the phone. Today’ssimply even knowing the fact that they got married two salesperson needs one place and more efficiency to captureweeks ago. the data they need to make the right call at the right time.” Sales Expert Dave Brock: “It’s very simple. Information I would add to Kevin’s quote: Today’s salesperson needsin the CRM system is likely out of date and, quite frankly, one place to capture the data to make the right call atdoes not reflect what is going on with the customer. It is the right time to the right person. Contact informationname, email, address, etc, not what’s hot on their minds.” alone cannot tell you the story you need to be successful.David hits on it well. Titles are a classic example: We used to rely on titles for deciding whom we should call and what we should say, butKevin Gaither, host of “This Week in Sales” and Director of titles can mean lots of different things to lots of differentInside Sales at BetterWorks: “CRM wasn’t enough to begin organizations. The key is to find the right role and, evenwith. CRM you have to populate with the information. better, the right challenges to sell your product to. SocialThere is so much information being created that the CRM data allows you to go beyond title and understand “who”cannot keep up with.” the person is so you can determine early on if you should waste time and effort on this contact.The answer is to provide your sales team with real-timeaccess to the dynamic data being created every second Brock: “The key is to determine how we intersect withon the internet. Combine this with the foundation of a the customer smartly. What’s happening to this prospect,CRM system and your sales team is armed to compete. their company, or even their industry?”It should be noted that researching a client before a callis not new; there is just a lot more information now than Sales Expert and author of the blog “A Sales Guy” Jimthere used to be. Keenan: “Leads are no longer just second and third party referrals or first party requests. A lead today can be aGaither: “Back in the day, a good salesperson would have complaint on Twitter, a question on LinkedIn or discussionmultiple browsers open with press releases and 10-Ks to on a Facebook page. CRM has to capture the newpiece together a meaningful way to get customers on the definition of a lead.” The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 15
  • 16. Gaither again on information: “Sales reps need real-time considered the ones who didn’t unprepared. Jim Keenan,access to determine trigger events for reasons for calling. blogger from A Sales Guy: “We sell to people not contacts.New product releases, funding events, and management Name, phone, email don’t tell us anything about thechanges give you strategic reasons to call…you want that people we sell to. Knowing them is key, knowing theminformation at your fingertips.” means engagement. Social media gives us that platform.” Please do not be mistaken. The information you can findI think we all agree that we don’t want our sales reps in your CRM system is very important to understandinglosing productivity by having to look all over the place for the history of a prospect or how a customer has growncustomer data. We wish our CRM data could tell us the with you and your organization. There is real value there.story, but it can’t, which means we need to layer real-time However, when we are talking about sales, we have theaccess to customer data to be successful.2. People are not contact recordsAlthough a traditional contact record provides vitalinformation about opportunities, purchases, troubletickets, and company activities, it falls short of creating acomplete picture of the person.We have always sold to people, but our access toinformation has changed. Three or four years fromnow, we are going to laugh at how we thought we couldeffectively sell to people with merely their contact record.We will only be able to tell them: “Back then, it was allwe had.” In today’s world, your prospects and customersactually publically publish what they care about! Whenmy wife gave birth to my twin sons, I watched the realsocial sales people reference it in their calls with me and The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 16
  • 17. opportunity to access much more. Taking advantage of Dave Brock called it the “360-degree view of thethat opportunity is the key to selling today. customer” and Lori Richardson, President of Score More Sales, called it the “living, breathing snapshot.”When researching this topic, we spoke to a number Lori on the information available today: “The idea ofof sales experts. Everyone said the same thing: the capturing static information about anyone in 2012information is available, and you have to use it. Mike is one small piece of what needs to happen when itDamphousse, CEO of Green Leads: “At Green Leads, comes to prospective customers, active customers, andmy reps live with dual monitors up all day long. They strategic partners. Yes, it is great to have notes from pastdon’t think about pursuing contacts any more, they are meetings and conversations, but combine that with all ofpursuing people. People have histories, lives, and more to the information that can be culled in minutes (secondsthem than just phone numbers and email addresses. The really) by checking updated social activity. Modern toolsinformation is there. Use it.” aggregate that activity so that you can get a sort of a “living, breathing snapshot” of someone you are about to meet and this needs to be done often. It should not add you your workload, and it doesn’t have to if you focus on working smart. (Spend less time going through email, for example, or schedule it differently).” Selling is about relationships, and relationships are about people – not faceless contact records The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 17
  • 18. Steve Richard, Founder and President, Vorsight: “Is a progress of any kind, is built on relationships and trust. Usedcontact record a person? Is Steve Richard no more than effectively, CRM strategies and the tools that enable theira marketing automation lead score in someone’s CRM? execution can help individuals and organizations maximizeOf course not. What makes me, me and my needs, my impact and return on sales and marketing effort andneeds is very different than anyone else. So why do investment. Too often, recipients are degraded into objects,we think database marketing can do our consultative faceless contact records in a database table that are simplyselling? The reality is it can’t – and your job is safe. The targeted for one-sided corporate gain. This often triggersfirst human touch point is the most critical part of the revolt. Perhaps this was best articulated in the Cluetrainsales and marketing process. It is the piece that can’t be Manifesto: ‘We are not seats or eyeballs, or end users ordone by a computer and can’t be outsourced to India. consumers. We are human beings and our reach exceedsWhy? Because human beings can gather all the pieces your grasp - deal with it.’ Taking the time to understandfrom the social sphere to create a better picture of a and respond in a way that resonates with your prospectsprospect than any computer ever could. Humans can use and customers is a proven and sustaining bedrock of salesthose key points – what we at Vorsight refer to as 3x3 success. Today’s digital landscape allows us to increasinglyResearch – to craft unique talking points and questions leverage structured and unstructured information availableto resonate immediately with that one unique human from a wide variety of sources to help discover context andbeing. The best sales reps can capture attention, develop insight about the habits, behaviors, and interests of ourneeds, and create a vision for their prospects better than buyers, with the goal of creating value for them.”any email campaign ever could. Social selling is all aboutpeople selling to people better through information that Selling to people really works – Zuora has tripledour predecessors only wish they had. To do anything less C-level outreach and increased lead conversion ratesthan social selling in this day and age is to commit sales by 132%. Xactly has tripled qualified lead volumes andmalpractice.” lead conversion rates, and increased win rates by 10%.CRM Expert and CEO of Initium LLC/Innovantage, When I wrote this piece and reached out for quotes, IBrian Vellmure sums everything up: anticipated the reception of would receive. If I learned one thing: everyone agrees. Move beyond the contact record and“Selling is about relationships, and relationships are about understand your prospects and customers. That separatespeople – not faceless contact records. Business, and the best sales people from the rest. (It always has.) The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 18
  • 19. 3. More data is not the answer finding the needles of insight any easier.” Net-net, piling in the data achieves the opposite of your goals – you actuallyMore data, without proper filters, can be more of guarantee they will not hit their number.a distraction than a benefit. Sales teams only wantinformation they need – not all that data. Less is more. Once sales people experience the power of leveraging social data, they will never go back. Jim Keenan: “Data isDavid Brock: “Success is not about the quantity or volume dead, sales people want information. Information is dataof data, it is about the information that gives you the clues with context.” Sales Expert Mike Damphousse: “’Give meto connect with prospects in a meaningful way.” one accurate lead with deep, interesting information, not 100 garbage ones.’ That’s what I hear from my reps.”Stu Silverman: “Time is the enemy of sales people.” Stuffing names in the database acknowledges that you believe sales is a roulette wheel and that you are makingMost managers believe more data is the answer. Not the odds longer.enough pipeline or sales? The common refrain is: “We needmore names!” The data is often purchased on a wholesale While data with context is crucial to the social sellinglevel with much of the information old and zero insight process, be careful not to get stuck in the same oldinto prospect they are trying to sell to. The result is often habits. Find out what data is meaningful without gettingnegative. When data is dumped into the CRM, sales people bogged down with information overload. You can runhave to essentially start at the beginning and sift through the risk of spending too much time sifting through socialthe bad data and attempt to find the right person to sell to. media channels and lose sight of the end goal, just as youCRM Expert and CMO of Terametric, Chris Selland: “More can sifting through too much data. Jill Konrath, authordata is meaningless and can be a negative without analytics of SNAP Selling and Selling to Big Companies: “Whenand insight. Piling more hay on the stack doesn’t make salespeople get Google Alerts on every conceivable prospect, they go into overwhelm mode. They’ll either waste time following up on irrelevant news or totally miss“ Once sales people experience the the golden opportunities.” power of leveraging social data, According to the 2011 CSO Insights Sales Optimization Study, they will never go back. ” sales reps spend 24% of their time researching prospects on average, time that could otherwise be spent on selling. The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 19
  • 20. Focus on what’s important and what will help you make 2. You have no excuse – The information is out therethe right connections. Talk to your reps. Find out what for you to leverage. Before you call someone, youis working and filter out what isn’t so you can strike the can determine if they are the right person, what theright balance. Then you can arm your sales team with the message should be, and whether it is the right time.tools and training so they can target the right people atthe right time and hit them with the right message. A sales process is absolutely necessary, but the process and the subsequent training need to allow sales to make adjustments based on the available information for the sales4. No more cookie-cutter process people. Former Yankee Group CRM analyst Chris Selland: “Sales process and CRM is all about reinforcing processThe sales process must be adapted to the customer needs consistency but it too often ignores the fact that customersand mapped to finding the right person, communicating appreciate consistency but are even more appreciative whenthe right message, at the right time. you recognize their unique needs and differences.”There are some critical reasons for this Sales expert David Brock: “Sales process is a road map.fundamental change: It can you tell the streets but not the road conditions, potholes, weather, etc. Adapting to the changing conditions 1. The new buyer demands that you focus on their is the secret to getting from point A to point B.” needs -- the buying dynamic has changed. In the old days, the vendors controlled information and The old sales process playbook was as follows: thus controlled the buying process. Today, the internet allows buyers to get the vast majority of 1. Buy/build a list based on title and company their research completed online. The buyer is now demographics in control. They always wanted you to understand 2. Give sales a one-size-fits-all script their pains and needs, but in today’s selling 3. Start calling environment they demand it. Jim Keenan: “There has never been a place for cookie cutter selling. It’s just today you can’t get away with it.” The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 20
  • 21. The new sales process playbook: Bill Binch, Senior VP of Sales from Marketo, laid it out pretty well: “There are no traffic jams in the extra mile. 1. Determine buyer personas – the organization should define roles versus titles as well as pains and A college professor gave me this advice and it’s stuck needs of their target buyer. with me to this day. His point was that you need to differentiate yourself and cut through the noise, so 2. Identify appropriate buyer personas leveraging do it by exceeding the prospect/customer/client social data – in today’s world you can determine expectations. Millions of young sales pros are taught who the people who NEED you are. Those are the methodologies, skills, and have tools to help them people to reach out to. reach a prospect. But the best go beyond that: 3. Tailor your message – understand the buyer Is my message calibrated to the person I’m personas’ current pains and initiatives leveraging calling on? social data and tailor the message BEFORE you call This is pretty easy to talk about, hard to do. We all or email. Sales expert Mari Anne Vanella: “Selling know we should do this, but many times we go to isn’t pitching anymore—it’s discovering, partnering, market with a one-size-fits-all approach. Instead of solving. The idea of a by-the-book sales process is changing the message for the C-level target, we hit really replaced with having team members that are them with product features; and vice versa – we focus situationally fluent, able to think on their feet and on value and ROI with the day-to-day user who simply can mentally map what the prospect is telling them wants to know how the product works and how it will to the right topics real-time.” make their life easier. The best reps I’ve worked with take the company message and fine-tune it to the 4. Leverage trigger events to call at the right time scenario, level, buyer and make it custom. – trigger events are events in a buyer’s work environment that will necessitate change. An This provokes another key point, though – the example of this is a layoff or expansion. Smart sales methodology question. Today many companies reps follow their prospects and reach out when they prescribe to a fixed, heavy methodology that isn’t can identify challenges nimble to respond to scenarios. The analogy I’d use The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 21
  • 22. is the NY Giants in this year’s Super Bowl. They went Would I take call from me if I was on the other end?in with a strategy, i.e. we’re going to keep the ball This is the true test. A friend of mine, Keith Higgins,on the ground for the first half. Under that strategy CMO at Symphony Services shared something withare a number of plays. But the plays haven’t been me that I thought was really good. He said of allcast for when they’ll run them – to decide that they the prospecting calls he gets, one message is reallywatch the defense, then adjust based on field position good. “Listen, I know you get prospect calls all theetc., adjust based on the other team performance. time. What I want to know is, how does your companyToday’s selling needs to do similar – a single one-size evaluate best practices and ideas for X technology andapproach to selling is out of date; scorecards and how do I get myself included in that discussion?”playbooks that allow for real-time responding andadjustments are the new rage. It’s a call he takes every time because it’s real. Hey, we’re not gonna look at that for 6 months, but whenAm I calling the right role? we do we’ll call you.”Too high – we’re taught to call high. But does theCMO at Cisco really engage in the decision to buy what At the end of the day, it is important to remember thatI’m selling? selling to each buyer individually and selling to their pains and needs have ALWAYS been best practices. Today, youToo low – am I selling an expensive, complex solution can apply those best practices with consistency and likely,to only the end user? with great results.Did I surround the account? 5. Impact performance. Not reportingI get a prospect and I call them. My boss asks me whyI’m missing my number and I answer I don’t have Salespeople are looking for new ways to sharpen theirenough leads. Really – did I call just the prospect competitive edge, not create more reports.or did I try to surround the account, learn who theprospect works for, and who works for him? Who are Dave Brock: “CRM is sold to sales management andthe peers? so naturally, it’s built for sales management, not for individual sales reps.” The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 22
  • 23. IDC Sales Advisory: “Only 50% of sales people made their them, service more effectively to them, and so on. Thequota in 2010.” problem is the CRM system falls short. There is too much data being created outside of the CRM system that salesI wonder if IDC Sales Advisory in their research could can use to positively affect their selling effectiveness thatreport how many of the 50% who didn’t make quota used CRM doesn’t capture today. My father used to tell me: “Ifa CRM system on a daily basis. My guess is almost all of you don’t get 2x back what you put into something, it’sthem. We don’t mean to unfairly bash the CRM system; it not worth it.” For sales reps, all they do is “give” to theis a mission-critical application for running a successful CRM. They don’t get much back. Jim Keenan: “It’s a salessales force. The problem is the CRM system does not help person’s job to sell; it’s a company’s job to support themsales people close more deals. (And if you asked the sales in selling. Reporting doesn’t sell anything to anyone.”people, they would probably tell you that all with all theclicks, the system bogs them down.) What’s the solution? There are a couple best practices in sales effectiveness: The irony is in many ways, the intent of a CRM system isto provide knowledge of the customer that allows you to 1. Provide real-time customer insight using socialsell more effectively to them, market more effectively to customer data – as Dave Brock says: “The rich 3-dimensional perspective of the customer comes from a combination of CRM data and live internet“ It’s a sales person’s job data.” to sell; it’s a company’s 2. Provide this data easily – the enemy of sales people is time; if they have to click more or go into too job to support them in many applications, they won’t do it. selling. Reporting doesn’t 3. Ensure they understand what actions to take sell anything to anyone. ” against this insight – today, that might come in the form of training. Jill Konrath: “Not all trigger events are created equal. Teach your salespeople what the most important ones are and why. They need The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 23
  • 24. to understand the business implications in order to create relevant messaging and move prospects off the status quo. “ In the future the application will be able to provide these recommendations.You will be hard-pressed to find a sales person who can’tfind the value or competitive advantage in having real-time data about their prospects at their fingertips. CRMexpert Brian Vellmure: “Most successful sales executivesaren’t really concerned about all the new things thattechnology can do. At the front and center of their realityis making their number, showing up atop the leader board,making club, and in some cases, just keeping their job.Because of this, they tend to be a great proxy for thevalidity of emerging technologies.“As a sales rep, if I have 20, or 200, or 2000 potentialinteractions that I can choose to invest time in, I wantto know which ones hold the highest potential for thehighest return. Surfacing meaningful insights in thecontext of existing patterns of work holds the potentialto help sales professionals better allocate their time andeffort to maximize revenue for both themselves and theorganizations that employ them.” “ Reports are meaningless ifThe most obvious statement I could possibly make is they are not actionable. ”actually the final point: The sales manager’s job is to makehis/her sales reps as productive as possible. Before they The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 24
  • 25. require their sales reps to do something, they should waste time following up on irrelevant news or totally missalways ask themselves the question: “Will this make them the golden opportunities.” The moral of the story: Justbetter?” Entering data and helping you create reports is because you have access to information does not meannot making the sales reps better. Sales guru Jim Keenan: you know what to do next. There are a couple of very“If you want the sales team to report, then give them important factors when leveraging social data:the tools and support to have something to report.”Throughout my research for this project, I could not find 1. What information is actionable or not? – Justone sales expert who did not emphasize the importance of because the company announced something doesreal-time social intelligence in the day-to-day life of a sales not make it important to your prospect’s life. Arep. If it makes your sales reps better, why wouldn’t you? social media update alerting a sales rep to a key prospect’s job/role change can either surface a6. From look-up to intelligence new sales opportunity or increase the risk that an existing sales opportunity might not close.Intelligence that anticipates needs and provides Knowing about it at the right time is key, withoutrecommendations the sales rep having to spend lots of time looking for it. What does the information mean? – TheChris Selland: “Reports are meaningless if they are not information is telling you what the client caresactionable - and if those actions are not taken.” about. Can the individual sales rep determine that themselves? There could be thousands of pressJim Keenan: “Predictive analytics are without a doubt releases and other streams of information relatedthe new wave. They are also only as good as the to many prospects that the sales rep is working on.interpretation. Spend as much time on how you interpret It is nearly impossible for the sales rep to quicklythe data as you do responding to it.” establish that a specific press release about a merger & acquisition or a new compliance initiativeYou have the data/intelligence, now what? It’s interesting could either increase his/her likelihood of winningthat Jill Konrath’s quote on trigger events was a warning: the opportunity unless the sales rep is automatically“When salespeople get social data on every conceivable presented with the information in the right context. prospect, they go into overwhelm mode. They’ll either The social information to be available in the context The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 25
  • 26. of the lead, opportunity, or account information to manage sales customer activity. Today’s CRM should within the CRM so that a sales rep can take quick manage community activity. Ideally these platforms will action on it. triage conversations and provide intelligence.” 2. What is your next move? – Once the sales rep The only way sales organizations will be able to build their has the data, what should they do next? The sales teams to leverage social data in scalable ways will next source of competitive advantage for sales be to ensure that sales reps have an application that can organizations will come from systems that can interpret and provide recommendations for them. It’s not analyze social media and online conversations as as easy as it used to be where we had one message, one well as CRM data, to recommend the next move for buying type and we solved everything with scripts. Steve sales reps. For example, if social selling solutions Richard, Co-Founder of Vorsight: “Just like an expert can recommend the right prospect(s) to focus on plumber knows how to use his many tools in unique ways at any given time, based on historical win rates of to fix the pipes, so must salespeople be trained on how similar prospects, that will provide reps an immense to interpret and use social selling tools in order to reach competitive advantage over their peers. In short, the right person with the right message at the right time. think of it as a Netflix movie recommendation Training alone isn’t enough.” We must equip our sales based on your preferences as well as your friends’ teams to be agile and react on their feet. That is the recommendations that saves you tons of time future of selling. finding the right movie to watch.The baseline has been established. Your sales repsdeserve an application that helps them quickly andefficiently find real-time social intelligence. The next stepis for the application to recommend what to do next – thatis the killer sales application. Dan Waldschmidt: “Gone arethe days of using social tools as triggers. Today’s socialtools should drive interpretation. They provide meaningto the behavior of the prospect. Gone are the days of CRM The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 26
  • 27. Real-Life Success StoriesIn theory, social selling has tremendous potential. Perhaps the best way to examine social selling apart fromHowever, in practice it may prove difficult to translate general social media efforts is to look at successes thatsocial media efforts into distinct ROI and cash flow. While brands and salespeople have had in winning customerssome companies may boast about how they have 40,000 over. The following social success stories fall into twofollowers on Twitter and 10,000 Facebook likes, what categories: sales that have been made through listeningdoes this mean for their bottom line? How can we actually and monitoring social media, and sales that have beenvisualize and solidify the social sales funnel? made through the reach of social media.B2C companies have been the pioneers in using socialmedia to monitor customer conversations and identifyopportunities to not only address customer complaintsabout a product or service, but also to find new leads. Almost everyone recalls examples of airlines, hospitalitycompanies, and many other B2C companies using sociallistening effectively. B2B companies are imitating the best practices developedby B2C companies not only because of the results they’reachieving, but also because even B2B customers areexpecting that companies will follow their conversationson social media and take action, instead of expectingthem to interact with the companies through traditionalchannels. The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 27
  • 28. Listening for Social Sales 2. Soft Selling: When he received the tweet, he offered his potential clients unconditional help and made it clearLike the age-old desk phone, social media is another that he was willing to answer any questions they had. Notool in the salesperson’s arsenal to bring in customers. pressure! No obligation.However, social media has the added benefit of allowingfor open, transparent conversations that sales can Other realtors started “harassing” the same people. So,capitalize on. when they needed help for finding a home to buy, they asked for Jay’s help.Let’s imagine, for instance, that you’re a salesman at acar company. One day you pick up the phone to make a [One time, he] was a very close to a sale but his client’scall, only to overhear a completely random conversation moving plans changed and they ended up not coming tobetween two strangers about how they’re looking to buy a Phoenix but they referred massive number of people tonew model of the car you’re selling. Social listening allows him. (His genuine help turned complete strangers intofor the targeting of prospects in an immensely powerful brand advocates.)”way. Aaron Eden, Founder of Garious, outlines how JayThompson, a real estate agent in Phoenix, used this tactic By using a social dashboard to monitor specific keywords,to bring in new customers: Thompson was able to identify and bring in new customers that were already warm, qualified leads. We1. Effective targeting: He set up HootSuite to receive see the same methods applied to win over customersnotifications of tweets including keywords “moving” and from competing brands: “Phoenix.” Ralf VonSosen, VP of InsideView: “In several instances we have found prospects that were in conversations withSocial listening allows for the competitors, or looking for information where we were able to insert (tactfully) ourselves into the conversation. Wetargeting of prospects in an have done this on the marketing side to tee up the prospect for the sales rep, as well as sent the info to the sales rep forimmensely powerful way them to insert themselves directly into the conversation. The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 28
  • 29. “If we maintained an informational and helpful tone, It goes without mention, too, that while social listeningwe have seen the prospects be very responsive and can aid in bringing in new customers and win overappreciative on our input. clients from the competition, so too can it nurture existing customers. By using networks such as Twitter,“The great thing about these opportunities [is] that LinkedIn and blogs to foster an existing customer base,by default the timing is right to have a meaningful companies can establish a relationship that spans beyondconversation. What has been critical for us is to also simply signing the deal. This follow-up nurturing can aidsupplement the info we gather from Twitter with more in customer referrals and product renewals. So whileinformation about the person.” listening and monitoring can certainly help in making the initial sale, the relationship cannot, and certainly shouldAlex Shootman, Chief Revenue Officer at Eloqua: “Just not, end there.a couple of months ago one of our sales people was onTweetDeck and noticed a person really struggling with Brand Reach for Social Salesa competitive offering to ours. The rep reached out,helped the person with their issue, they began to build Social selling casts a wide net to prospects, customers,a relationship and we took out a competitor from that third-party bloggers, evangelists, analysts, and advocates.account within the last few weeks.” Through the success stories below, you’ll be able to see how social media provides a supplement to live salesBy remaining vigilant about conversations that are conversations, how it allows for extended nurturinghappening across social media, sales reps have the of prospects, and how your content has the ability toopportunity to reach out to the right person at the right generate sales. And the best part: once the attention oftime, rather than blindly casting out a line to see who bites. one user is captured, word spreads organically through their networks. Many of the success stories we’ve seen“ By default the timing is right to through reach and “talking” (as opposed to listening) happen by nurturing users or potential customers – have a meaningful conversation. “ drawing them to a brand’s social network, posting relevant content, asking them questions, and then following up. The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 29
  • 30. It’s important to note that, while many companies can at meeting someone in person, social media can serve totrace their sales originally back to social media, these strengthen and extend relationships with prospects overchannels cannot and do not replace phone conversations time, with the high probability of an eventual sale.and in-person meetings. Social media may be the Matt Heinz, president of Heinz Marketing Inc, details aorigination point of the sale, but it is not the place where success through this lengthy – but ultimately rewardingthese deals are typically closed. – nurturing process: “A couple months ago, I got a call from the CEO of a fast-growing technology company onDave Brock, President and CEO, Partners In EXCELLENCE, the East Coast. We had met at a conference two yearsemphasizes where social media sits for him in his ago. At the time, I did what I usually do with people I meetcompany’s sales process: at events – followed up immediately after, invited her to join my newsletter list, put her into my nurture marketing“Social media has been an important part of a number systems, and pretty much moved on.of sales, but has never been the exclusive component.… I think what we’ve learned is that social media is just “Then, out of the blue, she called. Her businessone element of a prospecting approach, but we need is exploding, and she wanted help organizing andto build the engagement through multiple channels accelerating her marketing efforts. Less than a week later,simultaneously. We never expect someone to tweet us an she was a recurring-revenue client for our business.order – because that’s not the way people buy our types “On one hand, that’s one of the fastest deals we’ve closedof services. But social media is an important component and the least amount of work I’ve put into a pitch. On theof extending our visibility and awareness in our target other hand, I worked that deal hard for two years. Themarkets. For us, last year close to 70% of our net new CEO had been reading my newsletter, following my blogname business originated through some sort of social and Twitter feed, and knew I could help her with exactlymedia contact -- but none of them were closed through a what she needed done.single channel or through social media exclusively.” At least 33% of our new business now comes from socialSocial channels are a great way to generate brand media and content marketing.”awareness, and they are also an ideal nurturing channel.While they cannot supplement the sense of trust one feels The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 30
  • 31. social channels, your content has the potential to be“ At least 33% of our new business spread for general awareness and consumption… It’s now comes from social media the “viral” factor. Then, whether or not you’re capturing viewer demographics, the opportunities to spread brand and content marketing.“ awareness, nurture customers, and sell the product are all there. By listening, conversing, and relaying contentContent marketing and social selling have many key to an audience of prospects, brands can easily set thepoints of intersection. By creating content that is wheels in motion to establish meaningful connections and,targeted, relevant, and easy to consume, companies can ultimately, make the sale. establish themselves as thought leaders in a space, whichinevitably leads to customer trust and sales.Candyce Edelen, CEO of ProperGrowth: “We write contentfor our blog, which we promote in several social channelsincluding Twitter, LinkedIn, and on industry forums andknowledge communities. We’ve won several clients in partbecause they follow us in those channels … We link ourblog to our profiles, and do status updates to promoteour content. People regularly tell me that they feel likethey’re up to speed with what we’re doing because of thestatus updates. In most cases, publishing the content onindustry knowledge communities has also had a stronginfluence. We publish on a site that has strict editorialstandards around the content - no advertorials. That sitehas a strong influence in our target market and has beena powerful resource.”Here lies the powerful intersection of content marketingand social selling; by making content available through The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 31
  • 32. Best Resources to Learn About Social SellingExperts BlogsBarbara Giamanco, Social Centered Selling, LLC www.fillthefunnel.comMiles Austin, Fill the Funnel www.phoneworks.com/learning-center/blog/Anneke Seley, Phone Works www.tele-smart.com/blog/Matt Heinz, Heinz MarketingCraig Rosenberg, FocusDave Brock, Partners in EXCELLENCEKevin Gaither, BetterWorks WebsitesJim Keenan, A Sales Guy www.socialmediaexaminer.comMike Damphousse, Green Leads www.slideshare.net/heinzmarketing/secrets-to-Lori Richardson, Score More Sales successful-social-sellingBrian Vellmure, Initium LLC/InnovantageSteve Richard, Vorsight www.socialmedia-academy.com/index.php/resources/Stu Silverman, SalesRamp social-selling/Chris Selland, Terametric www.socialsellingu.comJill Konrath, SNAP SellingMari Anne Vanella, The Vanella GroupBill Binch, Marketo BooksJill Rowley, Eloqua “The Now Revolution” by Amber and Jay BaerAlex Shootman, Eloqua “Social Boom” by Jeffrey GitomerRalf VonSosen, InsideView “No More Cold Calling” by Joanne BlackNigel Edelshain, TurnTo NetworksJosiane Feigon, TeleSmartJeffrey Gitomer, Ace of SalesMichael Lodato, Network Hardware Resale Other places to browseKoka Sexton, InsideView www.slideshare.net The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 32
  • 33. AboutAbout InsideViewInsideView, the leading provider of sales intelligence, increases productivity and revenue by delivering relevant businessand social insights to the point of need. Our award-winning technology gathers and analyzes information from the mostrelevant social media, user-contributed and traditional/proprietary editorial sources to provide compelling insights aboutcompanies and contacts directly within your CRM, browser, or mobile device. More than 100,000 sales professionals, andover 1,000 market-leading companies including Adobe, AIG, BMC, CapGemini, Experian, and SuccessFactors use InsideView.For more information, visit www.insideview.com.About FocusFocus.com makes the world’s business expertise available to everyone. At the heart of Focus is a network of thousandsof leading business and technology experts who are thought leaders, veteran practitioners and upstart innovators inhundreds of different topics and markets. You can connect with the Focus experts in three primary ways: Q&A, Researchand Events. Personalize your Focus.com experience by following specific topics and experts and receive the Q&A, researchand events of interest to you. Focus is easy to use and freely available to anyone who wants help making better businessdecisions.Learn more at www.focus.com. The Definitive Guide to Social Selling: How to Sell to People, Not Contacts 33