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Social Selling in a
     Buyer Empowered World
Adam Thorp – Managing Director, Huthwaite




Corporate Social Media Summit March
                               2013
Our Agenda Today

 1.   To give an overview of the changes in
      buyer behaviour and the implications
      for sales and marketing
 2.   Provide an understanding of the role
      of social selling, its challenges and
      why it matters
 3.   To show and discuss the relevance
      and what it means for
      sales, marketing and the broader
      organisation
Discussion Breaks

• I learn from discussion and argument
• I don’t learn from listening

• After 10 minutes my mind wanders




          Therefore it will be
          “Your Turn” every 10-15 minutes
CHANGE
Research from the frontline




      4
Times Are A Changin’


Buyers now engage directly with sales
  people later in the sales process


          Q2 2012   Q4 2012
          35%       41%


                                Source: Huthwaite Sales
                                Pulse Survey
Power to the Buyer!


Buyers undertake a lot more research
   before engaging with a vendor


         Q2 2012   Q4 2012
          41%      43%


                               Source: Huthwaite Sales
                               Pulse Survey
Talking Behind Your Back


Buyers use social media and professional
 networks as part of the buying process


          Q2 2012   Q4 2012
           24%      34%


                                Source: Huthwaite Sales
                                Pulse Survey
Insight or Out of Sight

Sellers believe they need a higher level of
 business acumen to be able to provide
             business insight


           Q2 2012   Q4 2012
            79%       85%




                                    Source: Huthwaite Sales
                                    Pulse Survey
What Others are Saying




          9
Sticking with Tradition
Shifting Focus – Inbound v Outbound

52% of respondents now consider themselves creators / publishers of
social media content, up from 32% in 2012.
Traditional marketing tactics are in decline, losing 5% share of budget.
By 2014 digital marketing spend will exceed traditional.
Companies plan to spend more on inbound than outbound.




                                                           Source: Australian B2B
                                                           Marketing Outlook Report
                                                           2013
Your Turn




How does this look in your
world?

Discuss with those around
you.
Social Upheaval


200,000,000 – The number of members for professional social network LinkedIn, an
increase of 13 million since November 1, 2012. (Source: LinkedIn)



     181,000 – The number of Twitter users with “social media” as part of their bio as of
     January 2013, up from just 16,000 in 2009. (Source: AdAge)



       2 - The number of people that join LinkedIn every second, which equates to more
       than 172,000 new members per day. (Source: LinkedIn)



     200,000,000 – The number of monthly active Twitter users. (Source: Twitter)



33 – The percentage of US Internet users who said they ended a connection with a brand
on social media due to the brand sharing too many updates. (Source: eMarketer)
WHAT IS SOCIAL SELLING
            Why does it matter




       14
What is B2B Social Selling?


      Social selling is an
   inevitable consequence
       of social buying.




► Developing a Reputation
► Gathering Intelligence
► Building your Network
► Micro-marketing and Insights
► Building and Engaging
Why Does It Matter?

Sellers don’t have to make a decision to
adopt social media - their customers
have already made it for them.



Social selling remains an ambition, not
reality at most B2B organisations today;
however, the evidence is clear that
change is underway.
Why Does It Matter?




                   46% of all
                    Internet
                 searches are
                 for product &
                    service
                  information

                 91% of social
                 marketers see
                   improved
                 website traffic
                   & 79% are
                  generating
                  more quality
                     leads
 1/3 of global                     75% of global
 b2b buyers                         b2b buyers
  use social                       expect to use   Sources: HubSpot, Social
   media to                        social media    Media
 engage with                         in future     B2B, Business2Community
their vendors                       purchases
CHALLENGES AND ISSUES
  There is still a long way to go




           18
Social Media Satisfaction

Main areas of dissatisfaction was in generating leads and to a lesser
extent nurturing leads. Why?




                                                            Source: B2B Marketing
                                                            Outlook Report 2013
The Issues

2012 Sales Management Association
(SMA) survey of sales managers and
sales leaders:
   96% of them use LinkedIn at least once a
   week.

   80% believe their sales force would be
   more productive.

   >50% expect to increase their
   engagement with LinkedIn, Facebook
   and Twitter.

   66% of firms do not have a social media
   strategy for the sales organisation.

   33% believe their firms are undertaking
   “significant” social media engagement.
Further


Only 11% of companies had
formalised customer-facing social
media efforts for sales, compared
to 82% for marketing.
The Challenge


60% of companies will have
adopted social business
practices in their sales
functions within the next two
years.


IBM’s Institute for Business Value
Your Turn




What are the implications for
you?

Discuss with those around
you.
WHAT DOES THIS MEAN
Sales, marketing and organisation




             24
Myopic Solutions
Egocentricity


     “I see so many organizations that do
 campaign-based marketing. They're looking
at doing something next week, next month for
 a product they're launching six months from
 now, and that's marketing on the time frame
of the company, which is sort of an egotistical
        approach to marketing, isn't it?”
Quality Matters

     B2B buyers say that less
       than half of vendor
        content is useful…


         …vendors who produce
          low-value content are
           27% less likely to be
         considered by buyers…


            …and 40% less likely to
              win the business.



                                   Source: B2B Marketing
                                   Insider
Heard not Herd




.




     Good content is concise…                      Resonate


.




    …case-study based…                       Motivate




    …contextually personalised                    Differentiate
Flow Sales & Marketing
                                                   Websites must
                                                         offer
                                                   valuable, easy-
                                                      to-access
                                             .
                                                     information
             Selling skills                                                    Phone
                                                                          conversations &
             increase in                                                 voicemail must be
             importance                                   .
                                                                         concise & targeted




  75% of senior
 executives say
they watch work-
related videos on
                                                                                     Targeted, con
                                           Buyer
YouTube twice a
      week                                                           .
                                                                                     cise, sparingly




             Fast access
              but only if
                used                                      .



             thoughtfully                                                  B2B companies
                                                                              with blogs
                                                                            generate 67%
                                                                           more leads per
                                                                                month
                               The new
                              networking
                                event
Your Turn




What are some of the things
you need to do differently?

Discuss with those around
you.
Getting Real
Marketer 2.0


In                                  Out
 Highly
 targeted, segmented, business-     One-to-many generic campaigns
 driver related messages
 Selling skills and going further
                                    Strict demarcation, early hand-off
 into the sales cycle
 Freely providing information &
                                    Gated forms, give-to-get
 insights
Sales Person 2.0



In                              Out
 Increased business acumen         Product focus

 Researcher, Micro-
                                   Waiting for “hot” leads
 marketer, Personal Brand

 Multi channel expertise           Reliance on relationships



                The opportunity for sellers
                is in being insightful and
                helpful to buyers at the
                right time and place.
Company 2.0


In                             Out
 Understanding changes in      Department-centric views of
 buyer behavior                customer
 Taking an organisational
 approach to communicating     I’m not in Sales!
 with buyers
 Greater partnering and
 collaboration between         Hard and fast internal hand-offs
 Sales, Marketing & Customer
 Service
Our Latest Research

                            26% post for
                         business purposes
                              weekly


38% see low return
 on investment as                                   87% use it for
    the barrier                                   research & make
                                                  connections with
  32% company                                    prospective clients
culture resistant to                                  & buyers
 change as barrier



                       45% don’t know how to
                       best maximise use of it



39% don’t know if                                93% are a member
high-quality sales                                 of a business
leads are coming                                   related social
 via social media                                   networking
     channels                                       community


                         60% of sales force
                            currently use
                            social media
                         outside of LinkedIn
THANK YOU
       Questions?




36

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March 2013 at social selling in a buyer empowered world

  • 1. Social Selling in a Buyer Empowered World Adam Thorp – Managing Director, Huthwaite Corporate Social Media Summit March 2013
  • 2. Our Agenda Today 1. To give an overview of the changes in buyer behaviour and the implications for sales and marketing 2. Provide an understanding of the role of social selling, its challenges and why it matters 3. To show and discuss the relevance and what it means for sales, marketing and the broader organisation
  • 3. Discussion Breaks • I learn from discussion and argument • I don’t learn from listening • After 10 minutes my mind wanders Therefore it will be “Your Turn” every 10-15 minutes
  • 5. Times Are A Changin’ Buyers now engage directly with sales people later in the sales process Q2 2012 Q4 2012 35% 41% Source: Huthwaite Sales Pulse Survey
  • 6. Power to the Buyer! Buyers undertake a lot more research before engaging with a vendor Q2 2012 Q4 2012 41% 43% Source: Huthwaite Sales Pulse Survey
  • 7. Talking Behind Your Back Buyers use social media and professional networks as part of the buying process Q2 2012 Q4 2012 24% 34% Source: Huthwaite Sales Pulse Survey
  • 8. Insight or Out of Sight Sellers believe they need a higher level of business acumen to be able to provide business insight Q2 2012 Q4 2012 79% 85% Source: Huthwaite Sales Pulse Survey
  • 9. What Others are Saying 9
  • 11. Shifting Focus – Inbound v Outbound 52% of respondents now consider themselves creators / publishers of social media content, up from 32% in 2012. Traditional marketing tactics are in decline, losing 5% share of budget. By 2014 digital marketing spend will exceed traditional. Companies plan to spend more on inbound than outbound. Source: Australian B2B Marketing Outlook Report 2013
  • 12. Your Turn How does this look in your world? Discuss with those around you.
  • 13. Social Upheaval 200,000,000 – The number of members for professional social network LinkedIn, an increase of 13 million since November 1, 2012. (Source: LinkedIn) 181,000 – The number of Twitter users with “social media” as part of their bio as of January 2013, up from just 16,000 in 2009. (Source: AdAge) 2 - The number of people that join LinkedIn every second, which equates to more than 172,000 new members per day. (Source: LinkedIn) 200,000,000 – The number of monthly active Twitter users. (Source: Twitter) 33 – The percentage of US Internet users who said they ended a connection with a brand on social media due to the brand sharing too many updates. (Source: eMarketer)
  • 14. WHAT IS SOCIAL SELLING Why does it matter 14
  • 15. What is B2B Social Selling? Social selling is an inevitable consequence of social buying. ► Developing a Reputation ► Gathering Intelligence ► Building your Network ► Micro-marketing and Insights ► Building and Engaging
  • 16. Why Does It Matter? Sellers don’t have to make a decision to adopt social media - their customers have already made it for them. Social selling remains an ambition, not reality at most B2B organisations today; however, the evidence is clear that change is underway.
  • 17. Why Does It Matter? 46% of all Internet searches are for product & service information 91% of social marketers see improved website traffic & 79% are generating more quality leads 1/3 of global 75% of global b2b buyers b2b buyers use social expect to use Sources: HubSpot, Social media to social media Media engage with in future B2B, Business2Community their vendors purchases
  • 18. CHALLENGES AND ISSUES There is still a long way to go 18
  • 19. Social Media Satisfaction Main areas of dissatisfaction was in generating leads and to a lesser extent nurturing leads. Why? Source: B2B Marketing Outlook Report 2013
  • 20. The Issues 2012 Sales Management Association (SMA) survey of sales managers and sales leaders: 96% of them use LinkedIn at least once a week. 80% believe their sales force would be more productive. >50% expect to increase their engagement with LinkedIn, Facebook and Twitter. 66% of firms do not have a social media strategy for the sales organisation. 33% believe their firms are undertaking “significant” social media engagement.
  • 21. Further Only 11% of companies had formalised customer-facing social media efforts for sales, compared to 82% for marketing.
  • 22. The Challenge 60% of companies will have adopted social business practices in their sales functions within the next two years. IBM’s Institute for Business Value
  • 23. Your Turn What are the implications for you? Discuss with those around you.
  • 24. WHAT DOES THIS MEAN Sales, marketing and organisation 24
  • 26. Egocentricity “I see so many organizations that do campaign-based marketing. They're looking at doing something next week, next month for a product they're launching six months from now, and that's marketing on the time frame of the company, which is sort of an egotistical approach to marketing, isn't it?”
  • 27. Quality Matters B2B buyers say that less than half of vendor content is useful… …vendors who produce low-value content are 27% less likely to be considered by buyers… …and 40% less likely to win the business. Source: B2B Marketing Insider
  • 28. Heard not Herd . Good content is concise… Resonate . …case-study based… Motivate …contextually personalised Differentiate
  • 29. Flow Sales & Marketing Websites must offer valuable, easy- to-access . information Selling skills Phone conversations & increase in voicemail must be importance . concise & targeted 75% of senior executives say they watch work- related videos on Targeted, con Buyer YouTube twice a week . cise, sparingly Fast access but only if used . thoughtfully B2B companies with blogs generate 67% more leads per month The new networking event
  • 30. Your Turn What are some of the things you need to do differently? Discuss with those around you.
  • 32. Marketer 2.0 In Out Highly targeted, segmented, business- One-to-many generic campaigns driver related messages Selling skills and going further Strict demarcation, early hand-off into the sales cycle Freely providing information & Gated forms, give-to-get insights
  • 33. Sales Person 2.0 In Out Increased business acumen Product focus Researcher, Micro- Waiting for “hot” leads marketer, Personal Brand Multi channel expertise Reliance on relationships The opportunity for sellers is in being insightful and helpful to buyers at the right time and place.
  • 34. Company 2.0 In Out Understanding changes in Department-centric views of buyer behavior customer Taking an organisational approach to communicating I’m not in Sales! with buyers Greater partnering and collaboration between Hard and fast internal hand-offs Sales, Marketing & Customer Service
  • 35. Our Latest Research 26% post for business purposes weekly 38% see low return on investment as 87% use it for the barrier research & make connections with 32% company prospective clients culture resistant to & buyers change as barrier 45% don’t know how to best maximise use of it 39% don’t know if 93% are a member high-quality sales of a business leads are coming related social via social media networking channels community 60% of sales force currently use social media outside of LinkedIn
  • 36. THANK YOU Questions? 36