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Selling at the speed of Trust


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Learn why the traditional sales funnel is obsolete and has been replaced with a new form of Trust based selling that is being driven by the social web. Companies that sell things can no longer rely on outbound sales campaigns to reliably sell products because prospects are responding less and less to this. Now, consumers find companies and products after their Trust level has reached a selling Pivot Point, and they seek out products. This is an essential presentation for any inside sales professional, inside sales manager, or corporate executive who want to understand how to reinvent selling for the new reality of the social web.

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Selling at the speed of Trust

  1. 1. Selling at theSpeed of Trust Gary Ambrosino Copyright(C) 2011,2012 Gary Ambrosino
  2. 2. Gary Ambrosino President & COO TimeTrade Thanks for visiting this presentation ! I hope it is thought provoking and gives you some new ways to thing about how the social selling approach is changing the selling landscape. Visit my Blog My LinkedIn Profile @garyambrosino on Twitter Find me on Google+Copyright(C) 2011,2012 Gary Ambrosino
  3. 3. Fame,Fortune, and Self Esteem
  4. 4. TRUST
  5. 5. Sales TrustTechnique Prospect Purchase Decision Copyright© 2011,2012 Gary Ambrosino, All Rights Reserved
  6. 6. The Prospect
  7. 7. Who AreThese People ?
  8. 8. We often thinklike this ... Prospect A primary contact and probably a few or more others in the company that influence the purchase
  9. 9. We Build this path to success..... Lead Referral Sale
  10. 10. And this engagement process
  11. 11. A funnel driven process with success measured by “sales cycle time” and “conversion/yield” run by anInside Sales Superhero
  12. 12. The Storyof theInside SalesSuperhero
  13. 13. The myth...A laser focus on improved yields, more clever lead scoring, and more effective selling technique will convert more and more leads to closed business.
  14. 14. The reality... Opportunities 40% or less of the leads that enter the funnel become sales opportunities. Source: The Bridge Group, RealityWorks Group, TimeTrade Customers
  15. 15. And reality is.... ...expensive 60% 17% -40% Inside Sales Yield to wasting time Opportunity and money “calling, chasing, and waiting”.
  16. 16. Is there a reality distortion field that improves sales funnel performance?#TTSOT
  17. 17. A brief history of the sales funnel Then 1898, E. St. Elmo Lewis 1961 Arthur Fredrick Sheldon “AIDA” The Art of Selling, “DAGMAR” 1911 Arthur Fredrick Sheldon The Art of Selling, “Satisfaction”
  18. 18. A brief history of the sales funnel Then Now 1898 - 2009 2009 McKinsey & Company Source: “The Consumer Decision Journey”, 2009. McKinsey & Company
  19. 19. “ (The) outreach of consumers tomarketers has become dramatically more important than marketers’ outreach to consumers.” - “The Consumer Decision Journey”, 2009. McKinsey & Company.
  20. 20. Consumer Outreach Evaluation Purchase Lead Trust Promote Cycle Use Trust Referral Sources: Brian Solis, The end of Business as Usual; McKinsey and Company, Gary Ambrosino
  21. 21. The Trust Cycle is fundamentally different from the traditional “Sales Cycle”#TTSOT
  22. 22. “Traditional” Sales Cycle Sales Engagement Prospect Company • Control the process • Pace the interaction • Drive the decision •Use time based success criteria
  23. 23. Time-to-Trust Selling Sales Process Prospect Company Brand Engagement Experience Tools Brand
  24. 24. The Most Trusted Source ? The Prospect’s “Social Graph” Sales RepProspect
  25. 25. The Perception Gap “Why do buyers interact with companies through social sites” What Buyers Think What Companies Think 1. See reviews and product rankings 1. Learn about new products 2. Get general Information 2. Get general information 3. Learn about new products 3. Submit opinion on current products 4. Submit opinion on current products 4. See reviews and product rankings and services Adapted From: IBM sCRM Report: Perception Gap, IBM Institute for Business Values, Feb 2011
  26. 26. The new role of inside sales changes to monitoring, engaging, and intercepting emerging brand and product trust in a way that leads to a purchase decision.#TTSOT
  27. 27. Implementing “Inbound Sales”Identify and capture key selling “Pivot Points”in the Trust Cycle
  28. 28. Old Sales-Transaction based Process 3,400 Promote Trial Outbounds Demo Close P 50 Demo Calls Calling, chasing Already and waiting Identified “Pivot Point” About 30% of available inside sales bandwidth
  29. 29. Old Sales-Transaction based Process 3,400 Promote Trial Outbounds Demo Close P 50 Demo CallsNew Time-to-Trust Process P Zero 50 Outbounds Demo Calls “Please Call Me”
  30. 30. Time-to-Trust Results 30% Higher Close Rate 40% Faster Time-to-Close 20% Higher Connect Rate
  31. 31. Download This eBook
  32. 32. Implementing Inbound Sales Create a persistent presence in the Trust Cycle that makes it easy forprospects to get your time and attention.
  33. 33. PersistentPresence in the Trust Cycle
  34. 34. Walk-in Pivot Point“Please Help Me”
  35. 35.
  36. 36. Implementing Inbound SalesImplement and practice one-call Inbound Sales “One-call Inbound Sales” is a registered trademark of TimeTrade, Inc.
  37. 37. E-mail Outbound e-mail with persistent availabilityCall Single outbound follow-up reminder TrustResponse Inbound Sale
  38. 38. Time-to-Trust Results• 20 to 30% more reps make quota• Demo no shows are cut in half• Product renewals are significantly higher
  39. 39. The StorySuccessof theInside SalesSuperhero
  40. 40. 3 Steps to Superhero StatusIdentify and capture a key selling “PivotPoint” in the Trust CycleCreate a persistent presence that makes it easy forprospects to get your time and attention.Implement and practice one-call Inbound Sales Read more about Trust-based Selling
  41. 41. Fame, fortune, self-esteem + Over-target salesperformance !
  42. 42. Selling at theSpeed of Trust Copyright(C) 2011,2012 Gary Ambrosino