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Linked Live WebCast: How Top Teams Win In Today's Dynamic Social Selling Environment
The document discusses the importance of social selling in modern sales strategies, highlighting the Social Selling Index (SSI) as a key metric for measuring team success in social selling activities. It presents data showing that teams with higher SSI scores create significantly more sales opportunities and achieve quotas more frequently. Additionally, it emphasizes the need for executive buy-in, effective training, and continuous measurement to successfully implement social selling practices.
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Linked Live WebCast: How Top Teams Win In Today's Dynamic Social Selling Environment
- 1. How Top TeamsWin in Today’s Dynamic Social Selling Environment Amy Stephens Sr. Marketing Manager, EMEA LinkedIn Dan Lurie Insights Manager, Sales Solutions LinkedIn
- 2. Transforming into asocial selling organization Implement a program Measure the right metrics Track & Manage to drive change
- 3. Measure the rightmetrics
- 4.
- 9. Cold Call Volume Social Selling Index
- 10. The Social SellingIndex (SSI) measures how well your team has embraced social selling Leaders Laggards 0 100
- 11. We identified activitiesthat are predictive of rep success More predictive activities Connection requests Engagements (rec.) Internal connections VP + connections Connections People searches Inbound profile views Endorsements (rec.) Engagements (given) Advanced searches Profile length Shares Groups followed Profile completeness PV Rich content on profile Prospecting PV InMails sent Companies followed
- 12. So that SSIis predictive of sales success SSI leaders create 45% more opportunities per quarter than SSI laggards. SSI leaders are 51% more likely to hit quota than SSI laggards. 45% more opportunities 51% more likely to hit quota
- 13. Social Selling Index(SSI) Create a professional brand Find the right people Engage with insights Build strong relationships Each of the four categories is scored from 0 – 25 making up a maximum total score of 100; LinkedIn’s Social Selling Index
- 14. SSI measures yourperformance across the four pillars of social selling Social Selling Index 51.1 Create a professional brand Find the right people Engage with insights Build strong relationships 17.5 9.7 5.0 18.9 Social Selling Index measures adoption of LinkedIn social selling practices on a 0-100 scale Performance on four key dimensions, each worth 25 points CBA Sales Navigator Users
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- 16. Before you start,know where you’re going. - Tim Mullen, Senior Strategy Manager Commonwealth Bank
- 17. Get senior-level buyin – it starts at the top - and be sure to maintain it. - Joel Marans, Creative Technologist Softchoice
- 18. Get the basicsright - Victor Magariño Peñalba Chief Marketing Officer Comunycarse
- 19. Share success -Jeremy Harpham, Global Product Marketing, Pitney Bowes Software
- 20. Measure - TonyFinn, Head of Acquisition Sales Vodafone UK
- 21. Successful Social SellingImplementation Executive buy-in Training & Tools Sharing Success Measurement
- 22. Track & Manage to drive change
- 23. As they adoptedsocial selling, Tim’s team saw a dramatic increase in their Social Selling Index Tim's team ANZ FINS + 79% 28.5 51.1
- 24. It’s hard totransform an entire organization - Tim’s team has some who are just starting to adopt social selling Distribution of SSI of Tim’s team 0 10 20 30 40 50 60 70 80 90 100 SSI Tim’s Team avg
- 25. But Tim’s teamis far ahead of most sales professionals Distribution of SSI of all sales professionals 0 10 20 30 40 50 60 70 80 90 100 SSI World avg Tim’s Team avg
- 26. Sales Connect attendeeshave adopted social selling similarly to Tim’s team Distribution of SSI of Sales Connect attendees 0 10 20 30 40 50 60 70 80 90 100 SSI Room avg World avg
- 27. For CommBank, thelargest increases were in creating a professional brand and building relationships 3/1/2014 1/1/2014 +48% +36% Create a professional brand Find the right people Engage with insights Build strong relationships +75% +14%
- 28. Create a professionalbrand Find the right people Engage with insights Build strong relationships
- 29. Relationship Flows TargetConnectivity Competition Change
- 30. SENIORITY: CXO COUNTRY: Australia Target TARGET BUYER SIZE OF COMPANY: Mid-Market (200 – 1000 employees)
- 31. SENIORITY: CXO SIZEOF COMPANY: Mid-Market (200 – 1000 employees) COUNTRY: Australia Target
- 32. 25% 30% 26% 21% 17% Industry #1 Industry #2 Industry #3 Industry #4 Industry #5 Connectivity How Connected Are We to Key Industries?
- 33. 21% 22% 22% 18% 15% Competition Competitors How Do we Compare to our Competitors? Industry #1 Industry #2 Industry #3 Industry #4 Industry #5 25% 30% 26% 21% 17%
- 34. +7% Are WeGaining or Losing Ground? +8% +8% +11% +11% +5% +15% +13% +24% +15% Competitors Change Industry #1 Industry #2 Industry #3 Industry #4 Industry #5
- 35.
- 36. If you can’tmeasure it, you can’t manage it. - Peter Drucker
- 37. It’s time to start running
- 38. Happy Selling salessolutions@linkedin.com @LinkedInSelling sales.linkedin.com
Editor's Notes
- #2 Amy + Dan Amy Good morning to everyone who is joining us from the US, and good afternoon to our European friends, I’m pleased to your co-host on today’s webcast event. My name is Amy Miller and I work in the Marketing department for LinkedIn’s fastest growing business line – Sales Solutions, I’m responsible for generating demand for our sales teams in Europe via social media and educational events such as this. Dan xxxx
- #3 AMY Before we jump into today’s agenda looking at some of today’s top sales teams are embracing social media to sell. Here at LinkedIn we really like to say thank you and reward those people who have been evangelists on our platform and trial-blazing in the world of professional social networking, and I’d just like to call out four very special people who have registered for today’s webcast: Just to highlight some of the real achievers in the room
- #4 Amy What we’d love for you to get out of the next 45minutes or so is to really focus on 3 areas: 1. Understand how here at LinkedIn we measure our customers’ potential impact as a social selling organisation via something we call the social selling index. We’ll be explaining the metric and how this score we place on individuals and sales teams is comprised, we’ll also be finding out why LinkedIn’s Social Selling Index is the metric that’s really becoming predictive of outbound sales executives success. 2. Then we’ll be going into how you can implement this throughout your sales organisation, and I’ll be back on to take you through an example from Commonwealth Bank who we were actually lucky enough to have on stage at our flagship event for the sales industry in Sydney. Tim Mullen is responsible for developing the Bank's mid-market business banking division strategy and shared with us some candid insights and tips for delivering a social selling strategy across teams. 3. And finally I’ll be handing the baton back to Dan will be talking about how once you have a social selling program implemented how do you go about tracking and managing that to drive change within your organisation?
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- #17 AMY Remember – this is a mindset, the Social selling champions we’ve been working with this year would be the first to say that social selling doesn’t remove the human element when building relationships with B2B buyers. Sales still hinges on person-to-person contact, building relationships with B2B buyers. Sales still hinges on person-to-person contact, but buyers and sellers are connecting more often on social platforms and less often in person and over the phone. So now you’ve decided implementing a social selling strategy throughout your organisation? This next section pulls on the tips we’ve seen from clients who we’ve worked with closely this year to spearhead the use of social media to engage prospects.
- #18 A social selling strategy requires a shift in mind set and culture. Some sales people may want to revert to their old ways of selling if they don’t see immediate results, but it’s important to stay motivated as you adopt this new process. Use LinkedIn’s Social Selling Index metrics to benchmark.
- #19 AMY The second key to implementation success shared by some of our most successful customers was around exec level buy-in – this becomes important for getting any social selling program off the ground in the first place – and leaders like Tim Mullen whom I’ve just mentioned spent a lot of time letting the stats in the market place do the talking for them. Tim Mullen was also able to show their customers were not only on LinkedIn – but using LinkedIn to do their research and source information. But don’t just nail that one presentation- the endorsement piece is something you need to do as an on-going exercise, you need to ensure leaders are committed and demonstrating their commitment to social selling through their actions. A big piece of advice here is from Joel Marans at Softchoice. Joel and his team worked to ensure all the high-ranking executives were encouraged to be a part of LinkedIn Sales Navigator,” “They are offering access to their vast and powerful networks for the various sales professionals to leverage. Even their CEO has a license and has encouraged everyone in the company to come to him for an introduction to someone in his network (with a valid business reason). This level of executive sponsorship can have a dramatic impact on how employees feel about leveraging each other’s relationships to add business value to their organizations, It “flattens” the organization to the point where all the employees are working towards a common goal as opposed to fulfilling solely their personal goals.
- #20 AMY Probably involves far more manual intensive work than you’d like but its necessary in order for the scalability piece to come later. If you implement – make sure you cover the basics well. Tim’s team set about setting up social media workshops doing a lot of education around Social is, the landscape, not just LinkedIn. It can be a scary thing – especially business banking executives. From the top down to sales executives. Educate sales people on what “helpful” content means to prospects. This directly influences pipeline development. When sales people focus on adding value in advance of sales opportunities, their pipeline fills quicker. At Comunycarse, They were very much starting from zero in terms of number of contacts, but the experience showed how quickly one can build up a powerful database of contacts on LinkedIn, We then incentivized them to build databases of relevant, quality connections, and started rewarding them for every 50 qualified connections that they made, on top of the meetings they closed. The LinkedIn Solution has enabled Comunycarse to redesign its incentive system around quality of leads rather than quantity. The business now rewards its sales teams for the number of relevant, qualified connections they establish, and the number of meetings they are able to book with senior decision-makers at relevant organisations. “
- #21 AMY Global Sales Kick off – promoted via LinkedIn InMail, they had a full room for a side event not listed on the official schedule. To promote the Sales Navigator platform they held a panel of super users, or those who were seeing early success with LinkedIn. Jeremy understood there’s nothing so powerful as peer to peer recommendations and seeing your colleagues winning. To continue the momentum there is now a Chatter Group where the sales teams update on a daily basis with success or closed won deals – acts as a daily nudge to get onto LinkedIn – but again, its led by sales so is that much more powerful. Other companies are going a step further and adding an element of Gamification – ‘Social Selling Index’ leader boards are becoming the norm at organisations really keen to move the needle on Sales Navigator adoption within their organisations. As a result of Jeremy’s team’s hard work in this area his sales team is fully engaged with LinkedIn Sales Solutions - 80% have over 300 connections, they average 150 people searches per user each month, and nearly 70% are using the platform 5+ days per week.*
- #22 AMY Setting expectations on the personal and organizational level and adjusting performance metrics to align with expectations; Tony Finn, Head of UK Sales at Vodafone took to the stage at our Sales Connect London event, Tony was honest enough to stand on stage and talk to fellow sales leaders about the Q1 he was facing earlier in the year, faced with the traditional ‘in pursuit of happiness’ as he calls it way of selling he wasn’t going to make his target for the year. Now he’s implemented social selling he no longer looks at what he calls ‘old school metrics’ when he’s working with his teams. For his teams, the ‘Social Selling Index’ as Dan talked you through, is the new normal for Sales KPIs. How many meetings, how many calls you make – Tony doesn’t even look at this any more. First looked at the social spectrum of his sales force – from laggards to the millennials who were tweeting all over the place. Monthly reviews were changing. Started to see a correlation between those reps making an effort, sharing content and getting out there. Top performers are now the ones that were more traditional – the naysayers 84 net new contacts One deal work 45M Tap into all the materials and content delivered by his marketing team If we are going to get sales people to behave differently, we have to measure and reward them differently, We should be measuring things like size of network, quality of connections, number of followers, and internal collaboration because social selling is a team sport.
- #23 AMY So, getting started is a matter of: Making sure leaders are committed and demonstrating their commitment through their actions. Providing training and tools, such as Sales Navigator, that enable sales team members to make social selling part of their daily work Setting expectations on the personal and organizational level and adjusting performance metrics to align with expectations - you Finally, measurement, this is about setting expectations on the personal and organizational level and adjusting performance metrics to align with expectations – you can’t drive behaviour change without knowing what really matters. And on that note I’ll hand back to Dan who will deep dive into the metrics of Tim Mullen’s Social selling program at Commonwealth Bank Australia, and just what could Tim see from the data that would help drive behaviour change at his organisation.
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