----- Meeting Notes (5/31/13 12:19) -----Thank you.Happy to present at tne 2nd edition of sales 2.0 in Europe. Spent ten years in Silicon Valley at the heart of innovation and excited about the developments i see since back here. I have always worked in sales and marketing roles and now as a partner of Andeta-> helping sales and marketing with the new lead management processes leveraging social and technology.
There are millions of sales jobs around the worldtoday, but a large number of those are disappearingeveryyear. As technology advances and consumer demandsincrease, the idea of a salesperson as a “talking brochure” is no longervalid. World class sales forcesunderstandthisand are making every effort toadaptandmaintaintheirpositions of leadership in the marketplace.World is changing, are you? Andifyou are howcan make sureyoumeasureprogressand monitor? Want togiveyousomeideas. First of all a model thatemphasizesalignmentnotonlywithinorganization but with customer etc, Input-output but thanalsoforkey succes factors andkpi. Short time onlydiiscusssome….SOME IDEAS----- Meeting Notes (5/31/13 12:19) -----What are the topics i would like to present to you to day at the ned of a great seminar and your heads probably already spinning with a lot of ifno and inspired by many ideas disucssed here today. A Sales Balanced scorecard is not a very light topic to discuss bit dont worry I ll try to kep it foun. It s also key in making sure your salesforce is really adjusting to the new changing world of online and social and to measure progress! Discuss the fundamentals of the BSC and how it looked like in 2001 -> what has changed-> how this affects the new metrics/CSF and a little more time on the sales rep 2.0 finishcing with the social SBC exmaple. Off course this will be different for everyone
Looking back in my many years within sales and marketing i think the late nineties/early 2000 was all about measurement, improvement of processes , large focus on sales perfromance less on the organization around. Why we did a lot of researched and applied the BSC Kaplan and Norton.Strategic performance tool: to monitor results, be proactiveIt’s about links, ensures alignmentCustomer perspective: what do customers find important? Need to know the customer! Internal: which factors within the orgnaization do we need to excel in to retain and gain customersLearning and groweth: where do we need to invest to realize objectives in the others perspectivesFinancial shows traditional factors sales and profits----- Meeting Notes (5/31/13 12:19) -----Let s first go a few years back.I loved the 90ths not only becse i was in my early 20s but it was also when kaplan and norton came with the Balanced Score Card model as an integrated approach to measure a companies performance. It was a time where re-enigneering of companies processes and measuring performance got alot of attention. Who is familiar with the BSC? Let me quickly show you the fundamentalsAre Your Skills Stuck in the 90's?
Looking back in my many years within sales and marketing i think the late nineties/early 2000 was all about measurement, improvement of processes FINANCE, PRODUCTION LESS MARKETING AND SALES , large focus on sales perfromance less on the organization around. Why we did a lot of researched and applied the BSC Kaplan and Norton.Strategic performance tool: to monitor results, be proactiveIt’s about links, ensures alignmentCustomer perspective: what do customers find important? Need to know the customer! Internal: which factors within the orgnaization do we need to excel in to retain and gain customersLearning and groweth: where do we need to invest to realize objectives in the others perspectivesFinancial shows traditional factors sales and profits----- Meeting Notes (5/31/13 12:19) -----Business wide approach to measuring performance. it starts with a companies strategy and vision and then set's objectives (critical succesfactors from 4 different business perspectives. starting with customer, customer centric, internal business, processes, learn & growht and financials. What I especially like about this way of measuring that it LINKS the different business initiatives and it is aligned with the company's strategy and vision…each CSF is then furtner elaborated in key performance metrics. where for each a baseline will need to be set and a goal. By measuring progress it becomes also a very hany tool to measure progress.BSCuses flags, red immediate action needed, yellow attention, green doing well and helps to understand relations why things are going well or not
Between sales persons, divistions, benchmarking or just get started! ----- Meeting Notes (5/31/13 12:19) -----How does it look lie in real life_:> think about dashboards like this one Easy to compare sales reps…baseline can be set through, hisotrical knowledge, benchmarks -> companies 0 measurement culture=> need to make assumptions talk to peer companies
Wil be different for everyoneThis was already pretty advanced but still lot of empasis on visits, quality of the salesforce-> you are more probably more interested in what is different now? What has changed? ----- Meeting Notes (5/31/13 12:19) -----As you can notice I really am a fan of the BSC so much that in 2001 my firm was the first one to adjust it especially for sales: SBSC-> did huge research and this is what we came up with. Quality of the sales force-> how to measure this? lost customers/ftequalitive once=> training/FTE Up to you to decide which ones most relevant. Just want to give ideas----- Meeting Notes (5/31/13 13:22) -----This was early 2000->the model is still very valid-> it helps with alignment and an integrated view on performance and how different actions affect each other.Has anything changed?----- Meeting Notes (6/1/13 10:32) -----Important the interrelation between targets. For example in sales we tend to overfocuse on the skills
What Has Changed? Nothingchanged we weresocialalready….MANYOF US KNOW WE NEED TO ADJUST TO BE READY Let’s start with the customer’sperspective----- Meeting Notes (5/31/13 13:22) -----Off course we all know social is unstoppable-> like it was with cell phones emails-> after consumers-first of innovation-> followed by bto c now also BtoB
PROCESS LINKEDIN BEST FOR LEADS, Blogging leads to 67 % more leads per months!! ----- Meeting Notes (5/31/13 13:27) -----So how social is B2B? Very social see these latest stats from Inside View-> 90 % uses FB =? LINKEDIN generates most leads->----- Meeting Notes (5/31/13 13:39) -----Are you taking advantage of this?
CapGeminireceives 4 to 8 leads from Blogs writtenby employees. First contact with IRS whichresulted in a mega milllion deal through a blog.Deloitte Netherlands 500 K 18 leads-9 contracts----- Meeting Notes (5/31/13 13:39) -----Many are not. Aberdeen reports that in 2012 only 11 %.--time to get organized and really come with an integrated approach-> companies that have done this very well are Cap Gemini-> IRS But also Deloitte Netherlands report 500 K additional revenues 20 new leads and 9 deals just last year.
----- Meeting Notes (5/31/13 13:39) -----What else has changed from the customer perspective?Neil Rackham,so many more sources-> different ways a customer can researhc, find out-> because of online, social we can definitely say the customer is in control
70 % ONLINE., 70 % WILL BECOME 85 % 60 % DIGITAL C LEVEL 75% of inquiriesthroughthe web 17 % of leads fromsocial media , 70%70 & of btob business decidersusesocial media MORE INFORMED, OWNS THE BUYING17 % of leads fromsocial media AberdeenNO MORE COLD CALLING=> TECHNOLOGY /SCOIAL GIVE YOU A CHANCE TO WARM THEM UP_> TO KNOW WHERE THEY CARE ABOUT IMAGINE AVERAGE CUSTOMER 6 calls 14 emails 10 % onlyfrom DIFFERENT VENDORS-> NEED TO CHANGE OUR BUSINESS PROCESS -> Internal -> needfor customer intelligence!10 % reply!!!`----- Meeting Notes (5/31/13 13:39) -----60 % different (sirius) % but my question to you is do you know how that online orientation/buying process looks like? another # 60 % have you asked your customers what they prefer??70 % of business users use social media-> and if it is not top management than at least the level under who influences and comes with recommendations to the top-> 75% of all inquiries go through the web-? 17 % of leads through social -> what does the salesforce do to accoomodate this? What are new CSF? Pushing is out! Cold calling too-> only 10 % of cold calls get a response-> is that worht the effort while you can warm up so easily----- Meeting Notes (5/31/13 17:03) -----KPI's for valued partnership could be loyalty of A partners, churn, # cancelled meetings, sales evaluationVery close to this is thought leadership-> how early in the buying proces are you included, leads through social/total leads Reach), Soc connected=speed/quality of respons through social, # of customers/social dialogue Just a few examples-> experiment-> start simple
45 % sales tijdgaatverloren met het vinden & (re)creatie van content (CMO)87 % negagtive about each other% of sales people don’t achieve their quota (CSO)However, according to a recent study by InsideView over 90% of CEO’s said they NEVER respond to cold emails or calls. The return on cold calling is drastically decreasing.ALIGNMENT starts with a shared vision-> goals and market/customer view> do you and marketing have a clear view of how customer looks like?How can sales help in maximizing your company’s reach? =social selling----- Meeting Notes (5/31/13 17:03) -----What is the impact of the quickly changing buying behavior of customers-> most key is we need to leverage social and the lead man proces has changed for ever. In order to so-> we need to align. Need to fix the broken process. We see lots of effort /money into demand generation. Leads directly handed to sales. But what we see is that prospects not always are ready to buy and through online get in contact quite early-> need to engage and nurture and make sure consistent message. Broken process some facts----- Meeting Notes (5/31/13 17:12) -----Alignment more than ever a CSF nurturing is very important to get more control on the online part of the buying process and to not kill the sales but also to keep in touch till the prospect is ready
90% of CEO’ssaidthey NEVER respondtocoldemails or calls. (Inside View)Unmarketing->about trust-> about the right time tohandoff a lead to sales-> communication…..no pushingtakingyour time, youdontask a data to kiss at the first time you meet-> youcankill a sale bygoingtoofast. Alsobecause of online a prospect mightbtowse information but notbeing ready yettobuy!! Coldcalling is dead-> youneedto do your research and warm up a lead----- Meeting Notes (5/31/13 17:12) -----Who has a nurting process in place? CSF For those who haven't yet you can compare it to dating-> you dont ask a date to kiss at the first time-> you invest in dinners movies find out more etc. And that is exactly what we need to ----- Meeting Notes (5/31/13 17:19) -----NURTURING -> need to know your prospect-> also the prospect as we have seen knows a lot about you!
Sittogetherwith marketing anddiscusstarggets-> veryusefulinsights -> make marketing accountable as well. How are youusingsocialReverse funnel:Set clear targetsper phaseMeasure/monitorNEW ROLES OF MARKETING87 % of marketeersand sales peoplewill say somethingnegativeabouteachother!!----- Meeting Notes (5/31/13 17:12) -----Funnel management a joint effort-> marketing moving more and more forward into the funnel-> need to make sure you have a joined definition on the ideal customer, a MQL= nurturing and SQL-> and how you are going to engage? and use social media throughout the funnel. Best practice what i see what helps in clarifying the different roles of marketing and sales ----- Meeting Notes (5/31/13 17:19) -----In the end u want to create champions! recommendations becomes more and more important. Best practice=reverse funnel marketing and sales and discuss for each stage what needs to be done-> lead to probalbe well known deals as hitrate, SAL/orders MQL/orders a and new ones social media budget/mql social leads/total leads, mql/sal => including online/social is critical------ Meeting Notes (5/31/13 17:22) -----alignment=% sales time spent on marketing collateral, follow up times MQL-SAL, marketing field/visits, satisfaction (87 % negative)----- Meeting Notes (5/31/13 21:37) -----# social shares, social updates , referrals=champion…sales intelligence=late rfp, % social connected with customers, loss/win due to intelligence….----- Meeting Notes (6/1/13 10:32) -----Put a lot of effort in awareness-> make sure it doesn;t get lost-> also cold calling only 10 %is effective-> better nurture-> acquire intelligence what will has to be succesful in later stage. SI =to be able to add value
----- Meeting Notes (5/31/13 21:37) -----Talked a lot about the changing role-> marketing and sales. Before zooming into sales, the following quote from Nick Bell is i think a great summary what the new marketing role involves-> about accountability ! creativity but also tech to make it all happen-> do we look at sales then I think the most important area of grow is by leveraging social media----- Meeting Notes (6/1/13 10:47) -----Summary creative, analytic, tech savvy and off course social-> you see this basically in the changing sales role too-> sales needs to be a team player-> will need to embrace social selling-> to become more effective-> knowing what is going on ,to be there at the right time at the right moment with the right person- helps with succes. More efficient if you sometimes skype, FB instead of jumping in that car
My voice over was goingtobemany sales experts see the need of a new sales roleemerging. JimKeenan's personal prediction is……..75 % *of today’s successful sales people will fail and be relegated to the loser pile, replaced by new, more intelligent, more socially engaged buyer centric, sales people”----- Meeting Notes (5/31/13 21:37) -----Some facts----- Meeting Notes (6/1/13 10:47) -----A forbes study underwrites this: 78%
----- Meeting Notes (6/1/13 10:47) -----Still not convinced=> Aberdeen study 2012 shows the same blue users social selling. Striking the difference attain sales quota->customer renewal- sales forcecast - % of sales rep.----- Meeting Notes (6/1/13 11:09) -----we need to invest in new skills-> help our sales people to be succesful-> what are the new skills versus what we did so far----- Meeting Notes (6/1/13 11:20) -----Need to invest-> world has changed-> now we need to change
Listen-Eng----- Meeting Notes (6/1/13 10:47) -----Summarize the difference between sales 1.0 and new----- Meeting Notes (6/1/13 11:09) -----listen=research----- Meeting Notes (6/1/13 11:11) -----let s take a closer look
Who has changedtheir sales behavioorGuiding the buyingprocess!----- Meeting Notes (6/1/13 11:09) -----Welcome to sales rep 2.0----- Meeting Notes (6/1/13 11:20) -----Old sales guy will need to transition into the sales 2.0 hero=>Learn and growth-> review profiles, expectations-bonus
----- Meeting Notes (6/1/13 11:20) -----BIC do this already-> Aberdeen study-> external and internal=collaboration…most important key factors mentioned=social selling=> use of social platforms, social contacts/customers-> # of updates/monthDevelop sales 2.0 -> profiles-requirements-training, shared 2.0 vision, new hires with 2.0-> use of social CRM, face to face time , marketing automation
Team effort IdentifyDigital behavior –Be visiible: youandcompanyVirtual like factorLeveragesocial contactIBM Thoughtleadership!!
70 % ONLINE. 60 % DIGITAL C LEVEL, 60 % WILL BECOME 85 % 75 % of inquiriesthrough webMORE INFORMED, OWNS THE BUYING PROCESS17 % of leads fromsocial media Aberdeen
Transcript of "The New Social Sales Score Card "
@Sales20Conf • www.sales20conf.com/London2013 • #s20cClick to edit Master title styleLaura NuhaanLondon, June 3, 20132013The "Social Sales" ScorecardMetrics for Sales & Marketing Succes
@Sales20Conf • www.sales20conf.com/London2013 • #s20c• What has changed• The SalesBalanced Score Card (2001)• Sales rep 2.0• Some Critical Success Factors Today• Example Social SalesBalanced Score Card 2013Topics
• Only 11 % of companies have social sellingstrategies (Aberdeen 2012)
@Sales20Conf • www.sales20conf.com/London2013 • #s20c“The average company today can access20 times as much information about youand your customers as they could access5 years ago”Neil Rackham,Author of Rethinking theSales Force
@Sales20Conf • www.sales20conf.com/London2013 • #s20c• The Customer more informed than ever!• Leverages social and technology• Has less time• Expects immediate value• Valued partnership• Thought leadership• Socially connectedThe Customer is in Control
@Sales20Conf • www.sales20conf.com/London2013 • #s20cDemandGenerationProcessGapSalesProcessRevenueLeadNurturing More than 90% off leads never close (Sirius decisions) 65 % of sales time is not spent at selling (Inside view)Only 8 % of respondents have tight alignmentbetween sales and marketing (Forrester)Alignment is needed
@Sales20Conf • www.sales20conf.com/London2013 • #s20cFunnel Management a Joint EffortReverse funnelChampions• Alignment• Lead management(Nurturing)• Sales intelligence
@Sales20Conf • www.sales20conf.com/London2013 • #s20c“A strategic, engaging campaign under one arm,and the kick-ass, data driven results under theother. That is modern marketing at its finest.”Nick Bell, VP of corporatemarketing, Oracle/Eloqua
@Sales20Conf • www.sales20conf.com/London2013 • #s20c• Always be closing • Always be connecting• I am the man • I listen• My customer = bonus • My customer is my lead generator• Marketing does not understand • We work as a team• Look at my car • Look at my connections• Tech makes me nervous • Tech makes it easy• I’m not an administrator • Data helps with my quota
@Sales20Conf • www.sales20conf.com/London2013 • #s20c• Social Selling• Sales 2.0 rep• Technology* Aberdeen Group
@Sales20Conf • www.sales20conf.com/London2013 • #s20cLearning and growth• Use Social Selling• Develop sales 2.0 reps• Enable through technologyCustomer• Be a valued partner• Seen as a Thought Leader• Socially connected•Internal Business• Increase alignment• Structure leadmanagement process• Increase SalesIntelligenceSocial Sales Balanced Score Card (example)Financial• Customer life time value• ROI of social sellingSales 2.0 Strategy& Vision
@Sales20Conf • www.sales20conf.com/London2013 • #s20c1. Team Effort2. Research3. Plan4. Is visible5 . Provide content/tools6 . Listen7 .Engage8. RelateSome metrics:• Updated profiles• Social contacts• Leads through social• Usage of social tools• Leverage contactsSocial Selling Activities
@Sales20Conf • www.sales20conf.com/London2013 • #s20cInternal Business Perspective• Increase alignment/lead management (#of collaboration efforts ,% effective salestime, Follow up times, Funnel KPI(contact/MQL/SAL/orders)• Sales Intelligence (# lateRFP, DMU/business knowledge, #Socialconnections/customers/prospects, Win/loss due to lack of knowledge)Customer Perspective• Valued Partner (churn,loyalty, cancelledappointments, salesvaluation, orders/contacts)• Thought leader (leads via social/totalleads,revenue/lead, orders early stage/laterstage, asked for advice)• Social Service (coverage social platforms, #of dialogues, spee/quality of responsethrough social)Learning and growth• Use Social Selling (Use of socialplatforms, social contacts/visits, groups, upto date profiles, ,# of updates/total update• Develop sales 2.0 reps (socialtraining/rep, new hires with 2.0profile, shared 2.0 vision)• Enable through technology (use of socialCRM, marketing automation)Financial• Customer life time value(profit, revenue, championship/references)• ROI of social selling• Cost of leads• Cost of new customersSales 2.0 Strategy& VisionExample Social Sales Balanced Score Card 2013