The Future of Social Selling
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This document discusses the future of social selling on LinkedIn. Some key points: - Over 50% of B2B buyers use social media to make purchasing decisions and expect new insights from sales professionals. Warm introductions are more effective than cold outreach. - Social selling on LinkedIn involves establishing a professional profile, using search/research tools to find prospects, and sharing valuable information to build relationships. - Social selling leaders create 45% more opportunities and are 51% more likely to hit quotas than laggards. Sales professionals using LinkedIn Sales Navigator see 3x pipeline and revenue growth. - LinkedIn has over 350M members and 2B weekly member updates to help sales professionals find the right people and
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The Future of Social Selling
- 2. Sachin Rekhi Head of Product Management LinkedIn Sales Solutions The Future of Social Selling Steven Kaplan Product Manager LinkedIn Sales Solutions
- 3. % Of B2B Buyers use social media to make purchasing decisions
- 4. % Of B2B decision-makers expect new or different insights from sales professionals
- 5. More likely to engage with sales professionals via warm introduction than cold outreach
- 6. What is Social Selling? Establish a professional presence on LinkedIn with a complete profile Prospect efficiently with powerful search and research capabilities Discover and share valuable information to initiate or maintain a relationship Expand your network to reach prospects and those who can introduce you to prospects Build strong relationships Engage with insights Find the right people Create a professional brand
- 7. Why Social Selling Matters 45%More opportunities SSI leaders create 45% more opportunities per quarter than SSI laggards. 51%More likely to hit quota SSI leaders are 51% more likely to hit quota than SSI laggards.
- 8. Social Selling & Sales Navigator Boosts Pipeline & Revenue 7x 11x Sales Navigator Sales Navigator LinkedIn.com LinkedIn.com 0 2 4 6 0 5 10 15 20 Revenue Growth (%)Pipeline Growth (%)
- 9. 3X more likely to go to club Go to Club Sales Professionals Who Are Social Selling • Finished year in the Top 10 • Leaders Club for 6 months “LinkedIn has changed my life. It’s enabled me to excel in a world where I otherwise was a complete underdog. It’s given me a voice, a reach, and a platform to tell the world why I matter!” SSI 87
- 10. % Of our opportunities start with LinkedIn — Paul Weingarth, Head of Sales, PayPal Australia
- 11. Top Social Sellers Here Today 1. 87Sulemann Ahmed, Digital Advisor at Servo Annex 2. 84John H Bell, VP Enterprise Digital Marketing at Travelers 3. 71Stephen B. Dunbar III, J.D., Managing Partner at AXA Advisors 4. 68Tina Tse, Director of Marketing & Communications at MacKay Shields 5. 67Brendan Kenalty, AVP – Digital Properties at Manulife Financial
- 12. Connect the world’s buyers and sellers to build relationships. LinkedIn Sales Solutions Mission
- 13. Find the right people 350M + members, and 2 new every second 2B + Members updates per week Stay informed Build trust Billions Of professional relationships
- 14. Sales Navigator
- 15. Account-centric View Account & Contact CRM Import Lead Recommendations Actionable Insights TeamLink CRM Account & Contact Profiles Sales Navigator
- 16. Sales Navigator for iPhone Actionable Insights TeamLink Accounts & Leads View Sales Inbox inMail
- 17. Be the start of every sales opportunity
- 19. Effortless education on social selling
- 20. Connecting the dots between sales & marketing
Editor's Notes
- So, enough about LinkedIn. Why are we here today? If you think about buyer and seller relationships…it used to be very 1:1, face to face relationships where sales reps were limited to the ‘who they knew’ and referrals from existing customers. With the advent of technology like the internet, buyers can find lots of information about what they need. Buyers are increasingly relying on the internet to do their own research. Technology also made it easier for sales professionals to bombard buyers (with emails, with phone calls). However….we’ve veered too far. Let me share with you a staggering fact… 50% of B2B decision-makers /influencers say they aren’t the right person to contact about new business when sales reps contact them. That’s 1 out of every 2 people. I want to take a step back and start thinking about…how…the dynamic between sellers and buyers have somewhat changed. [key takeaway: we want to bring 1:1 relationships to scale] Family-run company As companies have become less intimate and less personal, companies realized that, in order to compete, they had to try to maintain the level of trust that a family-run company had with his or her customers. That led to massive investments in brands – Wal-Mart, Oracle. They have built brands so that you know they’re high quality, reliable, etc. Every customer couldn’t know and trust the owner but every customer could know and trust the brand, the thinking went. But in the new economy, constant connectivity, someone somewhere knows someone somewhere…and this leads…to personalized relationships…done at scale.
- Recall that buyers have access to the same information that you do on the Internet to find information about products/services. They need you to help them solve business challenges and problems that arise. They need you to educate them on what’s new in the industry and what their competitors are doing.
- With so many offers to choose from, we found that B2B buyers were 5X more likely to engage with sales professionals who were introduced to them through someone in their professional network.
- It turns out that both social selling and Sales Navigator subscription has significant impact on pipeline and revenue growth. If a sales professional boosts their SSI by 20%, they will see 6.8% pipeline growth and 20.4% revenue growth. This is massively more than if the same sales professional used LinkedIn.com.
- Make Club Caroline Hunssinger from Comcast Carrie (Caroline)’s story is truly transformational. She joined Comcast in 2011 after turning 25 years old with minimal sales experience. Her peers all had vast internal and external networks, partners and old customers. It took her 8 months to make her first measly sales. 1.5 years into Comcast, she was on the performance improvement plan. Enter LinkedIn. She began by creating her own brand. She jazzed up her LinkedIn profile, included a fun new picture, requested endorsements and recommendations and started flooding people whom she thought would make sense to connect with. She grew her LinkedIn network of connections in 1.5 years from about 500 people to about 3500 people and growing. She made it her personal mission to have people associate her name, face, and personal brand with Comcast, Fiber, and a fantastic customer experience. She posted relevant material, industry related articles/news, powerful/moving business and motivational quotes, and consistently “liked and shared” other people’s posts to help bring them exposure as well. Within one month of using social selling, she got herself off the performance improvement plan- saved herself from being fired… BLEW OUT HER QUOTA 190% for the month… She went from being in the bottom 3 to finishing the year #8 in the top 10. She now gives month to month training seminars by the request of her Sales Director for new and or struggling reps in the subject of social selling.
- Transition to Sales Navigator Demo