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Paul Greenberg
Author: CRM at the Speed of Light, 4th Edition
Executive Vice President CRM Association
Customer expectations have changed
   Customers are no longer expecting to be sold to
   They are expecting to be partnered with
They are not expecting just a product
   They are expecting products, tools, services,
   experiences
They are not just looking for utility
   They are looking for style & a bond with the
   company, not just the salesperson
Consumer thinking penetrates the company –
including B2B
  New Blackberries, iPhone as enterprise device
  Interest in experience as much as utility
CRM strategies move from management to
engagement
  Permeates sales strategies – customers want to be
  involved in the process not just sold to
    No to “objects of a sale”
    Yes to “subjects of an experience”
The state of mind of the customer/prospect not
under your control
Your knowledge of the targeted organization is
often not complete enough – who are the
decision makers, who the influencers?
Costs need to be controlled more in a recession
so chances of success need to be carefully
optimized – because each $$ spent counts –
against you
Competition is no longer limited to companies
of like size – smaller companies can compete
Web information can level the competitive
intelligence playing field
   Caveat: Web information is unstructured
The thinking of salespeople has to change
   “Lone wolf” no longer works as well
Recession caveats
  Recession means that price becomes more
  important than it was prior – though always
  important
  Customer’s inclination to buy is reduced
    But so is their inclination to bolt
    Inertia, wait and see rules the day
    But nerves are still on edge & engaged personalized
    relationships win the day
New approaches to lead generation
Better handling of opportunity
Need for competitive differentiation of a new
kind but through organizational knowledge &
sales intelligence
Reputation, influence, persuasion
   Based on customer insight
Lead generation
  Use of social media to generate leads “non-
  traditionally” – rich source
    Community discussions
    Threaded discussions in forums – show expertise
       Caveat: If you look too “salesy” you are going to be
       flamed.
       Transparency & subtlety get you a long way
    Blogs/Podcasts to drive comments leading to leads
    Tools for scoping unstructured data across the web
Opportunity management/deal closure
  Capture customer attention
  Engage other employees – sales, marketing, etc. to
  support the effort through community knowledge –
  and opinions (rating, comments)
  Forecast accuracy should provide some
  predictability & direction
Organizational knowledge/sales intelligence
   Improvement of communication among sales (&
   other) staff
   Using collaboration tools & UGC, can make more
   accurate assessments of appropriate presentations
   & documents for success in deals
   Rich information beyond standard fare
Sales intelligence for customer insight
   Capturing unstructured data from web in real time
     Incorporating it with internal CRM data to get rich
     customer profiles – e.g. individuals or accounts
     Can expand influence on clients – the more you know…
     Aberdeen study on Sales Intelligence (2009) found that
     the best-in-class companies had clearly defined and well
     informed customer insights
        Understand prospect’s business challenges
        (79%)(+13%)
        Understood how to map offerings to those business
        challenges (73%)(+14%)
        Intelligent knowledge of competitive differences
        (73%)(+18%)
Social CRM sales tools
   A.k.a Enterprise 2.0 sales tools
Social media
Integration between social media & CRM apps
become mission-critical to contemporary sales
process
Communities
Traditional sales tools – these are still part of
the package
Social CRM sales tools
   Collaboration tools/services
   Mobile applications
   Direct engagement of customer
   Predictability
     Forecasting accuracy
   Use UGC & external sources for sales intelligence to
   improve chances of closing
Social CRM sales tools
   Features, functions, characteristics
     Sales collaboration, access
        “The information sales people really need is often not
        accessible” – Jim Dickie, CSO Insights
        Tools like wikis, webinars, WebEx-like sites
        Outcome based collaboration
     Customer analytics/community interactions
     Shared content
        Knowledgebase/libraries
        User generated content (comments, rankings)
Social Media
  Blogs
    Sale people write blogs “of interest”, not sales pitch
    Subscribers can “sell themselves”
    Prospecting
       Prospects can write guest posts
       Link to prospect blogs
       Get prospects to participate in discussion
    Managing the accounts
       Substitute “contacts” for “prospects” here
Social Media
  Podcasts
    Informative, fun, humanizing
  Twitter
    Never underestimate the value of 140 characters
  Other user generated content
    YouTube videos
Integrated CRM & social tools
   Accessing resources across the web & tying it to
   internally acquired customer data
     External data
        Blogs
        Traditional sources (Hoovers, Reuters, D&B)
        Social networks (Facebook, LinkedIn, Zoominfo)
        Open Data Initiative (Jigsaw)
        Business news
     Internal data
        Account info
        Contact info
Social Networks/Communities
  Create support within prospect companies &
  accounts
  A community comes pre-sold
    Threadless, Karmaloop
  Create a “personal sales support team” via
  advocates from a community
  Lead generation based on conversations going on
    Caveat: must be careful due to possibly trust &
    reputation issues
Social CRM sales
   Increase potential for success
   Increased customer insight
   Mitigate risk
   Provide collaborative environment
   Improve engagement with customers
   Portability increased
   Ease of use increased
   Competitive differentiation
Paul Greenberg
Author: CRM at the Speed of Light, 4th Edition
President, The 56 Group, LLC
EVP, CRM Association
Co-Chair, Rutgers CRM Research Center
Pgreenblog: http://the56group.typepad.com
ZDNET CRM 2.0 Blog: http://blogs.zdnet.com/crm
Named “Most Influential CRM 2008” by InsideCRM & CRM Magazine
Email: paul-greenberg3@comcast.net
Phone: 703-551-2337

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Selling to the Crowd 2009

  • 1. Paul Greenberg Author: CRM at the Speed of Light, 4th Edition Executive Vice President CRM Association
  • 2. Customer expectations have changed Customers are no longer expecting to be sold to They are expecting to be partnered with They are not expecting just a product They are expecting products, tools, services, experiences They are not just looking for utility They are looking for style & a bond with the company, not just the salesperson
  • 3. Consumer thinking penetrates the company – including B2B New Blackberries, iPhone as enterprise device Interest in experience as much as utility CRM strategies move from management to engagement Permeates sales strategies – customers want to be involved in the process not just sold to No to “objects of a sale” Yes to “subjects of an experience”
  • 4. The state of mind of the customer/prospect not under your control Your knowledge of the targeted organization is often not complete enough – who are the decision makers, who the influencers? Costs need to be controlled more in a recession so chances of success need to be carefully optimized – because each $$ spent counts – against you
  • 5. Competition is no longer limited to companies of like size – smaller companies can compete Web information can level the competitive intelligence playing field Caveat: Web information is unstructured The thinking of salespeople has to change “Lone wolf” no longer works as well
  • 6. Recession caveats Recession means that price becomes more important than it was prior – though always important Customer’s inclination to buy is reduced But so is their inclination to bolt Inertia, wait and see rules the day But nerves are still on edge & engaged personalized relationships win the day
  • 7. New approaches to lead generation Better handling of opportunity Need for competitive differentiation of a new kind but through organizational knowledge & sales intelligence Reputation, influence, persuasion Based on customer insight
  • 8. Lead generation Use of social media to generate leads “non- traditionally” – rich source Community discussions Threaded discussions in forums – show expertise Caveat: If you look too “salesy” you are going to be flamed. Transparency & subtlety get you a long way Blogs/Podcasts to drive comments leading to leads Tools for scoping unstructured data across the web
  • 9. Opportunity management/deal closure Capture customer attention Engage other employees – sales, marketing, etc. to support the effort through community knowledge – and opinions (rating, comments) Forecast accuracy should provide some predictability & direction
  • 10. Organizational knowledge/sales intelligence Improvement of communication among sales (& other) staff Using collaboration tools & UGC, can make more accurate assessments of appropriate presentations & documents for success in deals Rich information beyond standard fare
  • 11. Sales intelligence for customer insight Capturing unstructured data from web in real time Incorporating it with internal CRM data to get rich customer profiles – e.g. individuals or accounts Can expand influence on clients – the more you know… Aberdeen study on Sales Intelligence (2009) found that the best-in-class companies had clearly defined and well informed customer insights Understand prospect’s business challenges (79%)(+13%) Understood how to map offerings to those business challenges (73%)(+14%) Intelligent knowledge of competitive differences (73%)(+18%)
  • 12. Social CRM sales tools A.k.a Enterprise 2.0 sales tools Social media Integration between social media & CRM apps become mission-critical to contemporary sales process Communities Traditional sales tools – these are still part of the package
  • 13. Social CRM sales tools Collaboration tools/services Mobile applications Direct engagement of customer Predictability Forecasting accuracy Use UGC & external sources for sales intelligence to improve chances of closing
  • 14. Social CRM sales tools Features, functions, characteristics Sales collaboration, access “The information sales people really need is often not accessible” – Jim Dickie, CSO Insights Tools like wikis, webinars, WebEx-like sites Outcome based collaboration Customer analytics/community interactions Shared content Knowledgebase/libraries User generated content (comments, rankings)
  • 15. Social Media Blogs Sale people write blogs “of interest”, not sales pitch Subscribers can “sell themselves” Prospecting Prospects can write guest posts Link to prospect blogs Get prospects to participate in discussion Managing the accounts Substitute “contacts” for “prospects” here
  • 16. Social Media Podcasts Informative, fun, humanizing Twitter Never underestimate the value of 140 characters Other user generated content YouTube videos
  • 17. Integrated CRM & social tools Accessing resources across the web & tying it to internally acquired customer data External data Blogs Traditional sources (Hoovers, Reuters, D&B) Social networks (Facebook, LinkedIn, Zoominfo) Open Data Initiative (Jigsaw) Business news Internal data Account info Contact info
  • 18. Social Networks/Communities Create support within prospect companies & accounts A community comes pre-sold Threadless, Karmaloop Create a “personal sales support team” via advocates from a community Lead generation based on conversations going on Caveat: must be careful due to possibly trust & reputation issues
  • 19. Social CRM sales Increase potential for success Increased customer insight Mitigate risk Provide collaborative environment Improve engagement with customers Portability increased Ease of use increased Competitive differentiation
  • 20. Paul Greenberg Author: CRM at the Speed of Light, 4th Edition President, The 56 Group, LLC EVP, CRM Association Co-Chair, Rutgers CRM Research Center Pgreenblog: http://the56group.typepad.com ZDNET CRM 2.0 Blog: http://blogs.zdnet.com/crm Named “Most Influential CRM 2008” by InsideCRM & CRM Magazine Email: paul-greenberg3@comcast.net Phone: 703-551-2337