Transcription

The Ultimate Guide:Getting Startedwith Social Selling

INTRODUCTIONDigital disruption has revolutionizedthe sales and marketing landscape.In the traditional model, marketing tells a targeted groupwhat to want. Then sales tells them why they want it andtakes the order.This model is less effective now that buyers are more activein information gathering. They know what they want andwhy. When today’s buyers have questions, they searchfor answers online instead of relying on informationfrom a salesperson.Sales and marketing must align themselves to a newshared set of goals to reach buyers.01 The Ultimate Guide: Getting Started with Social Selling“It all starts with listening. If you don’tfind those opportunities, being ableto execute on those opportunitiesis irrelevant.”— Jay Baer, Marketing Speaker,author of Youtility

Chapter 1: Why Social Selling?Buyers use social media to researchpurchases and evaluate brands.72%72% of buyers use socialmedia to research beforemaking a purchase. They’relooking up product andbrand information. They’rechecking references.They’re asking the opinionof their connections andyour customers.Source: DemandGen 2013 B2BBuyer Behavior Survey81%03 The Ultimate Guide: Getting Started with Social SellingYour social media presenceis your introduction tothese buyers. In fact, 81%are more likely to engagewith a strong, professionalbrand. The social sellingmodel ensures that yourcompany’s brand willencourage buyers toseek you out.Source: LinkedIn Global Survey of1,500 B2B Decision Makers andInfluencers, May 2014

CHAPTER 1:WHY SOCIAL SELLING?Multiple decision makers are becomingmore prevalent.The single-threaded approach—a salesperson forming arelationship with one decision maker—is becoming lesseffective. Research shows the average B2B opportunityhas 6.8 decision makers involved. Helping buyers reacha decision requires multiple points of contact in thecompany. Instead of following through with only oneprospect, sales professionals must go deeper into thebuying team’s structure, creating and building manyrelationships. Social selling enables you to leverageextended networks to find those multiple contact points.Source: CEB 201604 The Ultimate Guide: Getting Started with Social SellingB2BOPPORTUNITY

CHAPTER 1:WHY SOCIAL SELLING?Disruption can be a good thing.There’s no denying that it takes some work to restructure anentire business around social selling. It’s just easier to keepdoing what you’ve always done.Fortunately, digital disruption means it’s no longer an optionto maintain the status quo. Traditional sales and marketingmethods are becoming less and less effective. Businessesthat embrace social selling are increasing organizationalsuccess. It’s time to adapt and thrive.Sales and marketing both can use social selling to influencethe buyer at any point of their journey. Read on to learn thevalue of social selling, who owns it, and how to implementit to achieve optimal organizational alignment and socialselling success.05 The Ultimate Guide: Getting Started with Social Selling“The key to digital transformation isre-envisioning and driving change inhow the company operates. That’s amanagement and people challenge,not just a technology one.”— Capgemini Consulting, DigitalTransformation Report

CHAPTER 2:THE VALUE OFSOCIAL SELLINGSocial selling is the new norm.But it’s a tool, not a magic wand.Deciding to follow a social selling model is a good start.Making it really work involves fundamental changes inphilosophy, definition, and structure.The good news is that when social selling is implementedproperly, it can become a driver of success. The followingcase studies show what can happen when a company trulyembraces the transformative power of social selling.CASE STUDY PARTICIPANTS:PAYPALFounded in 1998, PayPal continuesto be at the forefront of the digitalpayments revolution. In 2014,customers exchanged 64.3 billiondollars through PayPal’s services.ADPFor 60 years, ADP has led the wayin defining the future of businessoutsourcing solutions. They’re aglobal provider of cloud-basedHuman Capital Management.07 The Ultimate Guide: Getting Started with Social Selling

SALES LEADER CASE STUDY:PayPal’s Challenges: Identify key decision-makers M anage multiple stakeholders acrossthe prospect company M aintain momentum through a lengthysales processSocial Selling Solutions:Results: S ocial networking has become one of the strongestlead sources for marketing M ore relevant points of contact keep momentumthrough the sales process 2 0-30 of the deals being worked on at any timeinfluenced are sourced by LinkedIn’s sales tool,Sales Navigator F ind connected decision makers through LinkedInprofiles and Advanced Search U se social networking and research to map thebuying committee of prospective client organizations“Using the network effect that LinkedIn offers, PayPal hasbeen able to book meetings where colleagues havealready worked with prospects or even played hockey atthe same club in the past, and that kind of backgroundcan provide us with a great icebreaker as well.”— Dan Horlor, Merchant Sales Manager, PayPal08 The Ultimate Guide: Getting Started with Social Selling

SALES LEADER CASE STUDY:ADP’s Challenges:Results: Deliver better qualified leads to sales Leads worked by sales increased 21% Improve salesperson productivity Win rate of leads increased 103% Generate net new sales revenue Total amount of won deals increased 26%Social Selling Solutions: A DP aligned marketing and sales to adopt acommon definition of a good lead A DP’s marketing team targeted content tostakeholders at various levels A utomated lead nurturing and scoring to engageleads more quickly S pecialized sales professionals qualified the leadsto ensure the sales team was handed only the mostlikely prospects09 The Ultimate Guide: Getting Started with Social Selling48%Revenue increased 48%year-over-year

Chapter 2: The Value of Social SellingAs the case studies show, social selling providesreal advantages for every stakeholder.87%70%For the Buyerof customers had a favorable impressionof a salesperson who was introduced tothem through their networkFor the SalesProfessionalof customers wantproblems solved, notto be sold to L everaging networks for introductions eliminatescold calls. I nsights gained from social conversation help topersonalize pitches. Prior sales drive 70% of future leads.For the MarketingProfessional65% B etter lead generation andqualification for a more-equippedsales team M ore relevant content directedat specific stakeholdersof buyers agree that avendor’s content hassignificant impact onbuying decision Y our brand is viewed as aproblem-solving resource,a magnet for customersSource: DemandGen 2014 Buyer Behavior Survey

CHAPTER 3:WHO OWNSSOCIAL SELLING?CASE STUDY PARTICIPANTS:Social selling isn’t just for the sales team. For the model towork most effectively, it should be implemented holisticallyacross sales and marketing.When sales and marketing are clearly communicating withone another, both teams’ efforts are amplified. Instead ofstruggling for control, they’re finding synergies together.The following case studies show what can happen whensales and marketing understand what they own in theprocess and have aligned social selling goals.“All it takes is hearing one too many times ‘Where arethe good leads?’ from sales and ‘You don’t followup on everything’ from marketing to know there’s anopportunity for better alignment.”— Greg Forrest, Sr. Manager, Marketing Operations& Demand Center, Concur12 The Ultimate Guide: Getting Started with Social SellingPITNEY BOWES:Pitney Bowes is a global technology company with morethan 1.5 million clients. They specialize in customerinformation management, location intelligence, customerengagement, shipping and mailing, and global ecommerce.ORACLEOracle engineers hardware and software to work togetherin the cloud and in your data center. Oracle enables its400,000 customers in more than 145 countries around theworld to accelerate innovation and create added value fortheir customers.CONCURFounded in 1993, Concur is a leading provider of integratedtravel and expense management solutions. Their servicesare trusted by more than 20,000 clients and 25 million usersaround the globe.

SALES LEADER CASE STUDY:Challenges:Results: O ne of the world’s top 100 software providers, butlow brand recognition R aised awareness of Pitney Bowes’s software productsgenerates leads directly C old contacts and outbound marketing steadilygrowing less effective F aster sales cycle, no fewer than 18 deals in PitneyBowes’s pipeline sourced by LinkedInSocial Selling Solutions: P itney Bowes implemented broader marketing activityon LinkedIn to support their sales team’s social selling. S trategically use LinkedIn’s networking and sales toolsto generate warm connections.“The trigger for us adopting LinkedIn Sales Solutionsacross sales and marketing came from a sales kick-offevent, when a customer on one of our panels explainedhow much he valued LinkedIn as a source of buyinginsight. That was when we realized we needed to getserious about how we used the platform.”— Jeremy Harpham, Product Marketing Manager,Pitney Bowes13 The Ultimate Guide: Getting Started with Social Selling

SALES LEADER CASE STUDY:Challenges: Quickly connect with buying committees G enerating lead lists was inefficient andtime-consuming Long sales cyclesResults: E stablishing relationships through shared connectionson LinkedIn led to a 30% increase in engagement withkey connections. S ales cycles shortened by 20% due to relationshipbuilding through social networking.Social Selling Solutions: U sed LinkedIn’s tools to empower marketing to quicklygenerate lead lists C reate warm introductions and better relationshipbuilding through social networking30%increase in engagementwith key connections14 The Ultimate Guide: Getting Started with Social Selling

SALES LEADER CASE STUDY:Challenges: L ack of communication between sales andmarketing teamsResults: Predictive model primed for future success 20% year-over-year growth S ales frustrated by perceived lead quality; marketingfrustrated at perceived lack of follow-up from sales L ack of shared goals and KPIs stunted efficiencyand growth potentialSocial Selling Solutions: C oncur held workshops to define and agree on stagesand process. T hey agreed on definitions to create a scoring systemfor leads. T he company put their staff through extensive trainingto align goals and KPIs.15 The Ultimate Guide: Getting Started with Social Selling“The results of this alignment have had a profound culturalimpact on revenue. We now have a predictive model anda united team to drive the business every day.”— Greg Forrest, Sr. Manager Marketing Operations& Demand Center, Concur

CHAPTER 4:HOW YOU CANOPERATIONALIZESOCIAL SELLINGSales: Transform Your Team’s Online Brand1. Help your team stay authentic online. Concentrate less onthe sales angle and more about sharing quality contentand building connections.2. Encourage your team to develop robust and professionalonline profiles—complete with professional photos—onTwitter, LinkedIn, About.me, etc. Completed profiles thattell a customer-centric story enhance your brand.3. Make sure your team optimizes their time on socialnetworks. Focus on finding good prospects throughadvanced searches, making connections, and sharingquality professional content.17 The Ultimate Guide: Getting Started with Social Selling

Marketing: Discover Micro MarketsStart meaningful one-to-one or one-to-many dialoguewith prospects.1. Tap into what you already know. Explore where your best, new, and lost customersspend time on social media.Chapter 4: How You Can Operationalize Social Selling4. Evaluate honestly. Monitor your activity to identify its impact. Make adjustments accordingly. L isten to feedback and comments fromyour prospects and customers. Ask them where they get their information.2. Study profiles to create personas. Use potential prospects’ social media profiles andcontent to create personas for specific micro markets. E nsure that valuable content has been created to mapto those social groups.3. Start the dialogues. Join the social groups where you want to market. P rove your worth by participating with your ownexpert opinion. I f the group forbids overt marketing, reach out toa trusted customer advocate. Provide high-value information.18 The Ultimate Guide: Getting Started with Social SellingGlobal Personal Technology company Lenovo initiated anend-to-end customer lifecycle program for differentiatedmicro markets.Their efforts tripled their reach, doubled conversions,and increased campaign-attributed revenue by 60%.Source: The Demand Gen Pro’s Cookbook, 2014

Sales: Incentivize Teams to Adopt aSocial Selling EthosChapter 4: How You Can Operationalize Social Selling1. The Social Selling Index (SSI) measures progress acrossthe four pillars of social selling. High SSI is a strongindicator of success potential. Monitor your team’s SSIand suggest ways in which they can improve.2. Instill a social selling culture: encourage your team tocomplete profiles, leverage Advanced Search to findquality leads, share engaging buyer-centric content,and build lasting relationships with contacts.Leading data integration software companyInformatica’s social selling initiative (using LinkedIn’sSales Navigator) led to better prospects and fewerhours of fruitless research.3. Celebrate your early adopters and share successes. Letthe SSI gurus on your team serve as an example for thosewho are still struggling.One salesperson’s sales attainment rate grew 300%in three months, as her SSI increased from 55.3 to 78.9.All of Informatica’s sales professionals currentlyabove quota have a high SSI.Source: Informatica Case Study19 The Ultimate Guide: Getting Started with Social Selling

Marketing: Empower Your Sales Forceto Have Intelligent ConversationsMake your sales organization a partner on all programsand campaigns. H elp them identify what professional groups theirtargets tend to populate. P rovide thought leadership content to enableeducated discussions on social media.Chapter 4: How You Can Operationalize Social SellingGive sales visibility into their prospect’s digitalbody language. B y integrating your marketing automation system intoyour sales force automation system you can give salesvisibility into which marketing activities their prospectsare engaging with.Help sales understand the best use for all content you offer. K eep templates up-to-date so they remain a valuablesales asset. Provide suggested tweets and posts. Make recommendations on complementary content.20 The Ultimate Guide: Getting Started with Social SellingDigital Body Language:How frequently a prospect interacts with yourcompany and content is key to determiningtrue buying interest.

Sales: Provide Guidelines to MaintainingMeaningful RelationshipsEncourage your team to:1. Build lead lists with LinkedIn’s Advanced Search tofocus on those with whom they can make the strongestconnections.2. Request introductions through their extendednetworks. Send personalized InMail as a follow-upto a warm introduction.4. Build global connections through insightful engagement.5. Identify problems or pain points in a prospect’sorganization and share relevant content.6. Monitor LinkedIn profiles to engage with clients when theychange jobs, have work anniversaries, post updates, takepart in discussions, or make new connections.21The Ultimate Guide: Getting Started with Social SellingChapter 4: How You Can Operationalize Social Selling

Marketing: Implement TrackingChapter 4: How You Can Operationalize Social SellingTracking ConversationsUse social media to track the conversations that peopleare having around your brand and your industry. F ollow your prospects and their companies onsocial media A nalyze what they are talking about and the contentthey’re sharingTracking ContentCreate tracking links to see how often your content isgetting shares, clickthroughs, and downloads. Createtracking links for: Blog content Demand Generation content Event registration Content for prospects22 The Ultimate Guide: Getting Started with Social SellingCloud ERP software company Deltek needed newprocesses to better handle metrics.The organization implemented the Oracle MarketingCloud’s marketing automation system that fed data toan enterprise data warehouse, where it could be fed toa business intelligence platform to generate insights.Regular meetings with all stakeholders ensured thenew metrics were satisfactory.Marketing Ops saw a 30% increase in measurementeffectiveness after implementation.Source: The Demand Gen Pro’s Cookbook, 2014

Chapter 4: How You Can Operationalize Social SellingOptimizing your teams for social sellingprimes your business for success.Marketing can leverage social networks to find micromarkets for targeted dialog, then track social activity forbrand awareness and engagement with content. With theinsights social media profiles provide, qualifying leads isfaster and more comprehensive.9.5%Sales reps who respond quickly totrigger events via social media sawa 9.5% increase in annual revenue.Sales can position themselves as a magnet for customersby developing a professional brand. Then they can leveragenetworked connections to get warm introductions toprospects. Monitoring their prospect’s profiles helpsthem address specific pain points with timely insights.That personalized attention helps the salesperson builda lasting relationship with the buyer.75%It costs 75% less to generate leadsvia social media than any other channel.23 The Ultimate Guide: Getting Started with Social SellingSource: Social Selling Reduces the Cost Per Lead, 2014Source: 5 Qualities Successful Salespeople Share, 2014

CHAPTER 5:MAKING SOCIAL SELLINGTHE NEW NORMALCase Study: Comunycarse’s Social SellingTransformationComunycarse is a Spanish content management and IPcommunication company with a pioneering new technology.Their new product is high value, highly disruptive, and has along consideration period.This innovation provided an opportunity to restructureComunycarse’s troubled sales and marketing teams. Theorganization had to find a new model if it was going tocontinue to grow.25 The Ultimate Guide: Getting Started with Social Selling

CHAPTER 5:MAKING SOCIAL SELLINGTHE NEW NORMALComunycarse’s Challenges:Comunycarse’s existing approach was to buy into databasesfor leads and rely on repeated cold-calling for sales. The lackof quality leads—and even keeping the databases updated—was a source of tension between sales and marketing.The organization needed higher quality leads and strategicfollow-through to kick off the launch of their new videobusiness intelligence technology.The team was also seeking solutions to improve conversionrates for their more established businesses.26 The Ultimate Guide: Getting Started with Social Selling“Prior to bringing in LinkedIn’s Sales Solutions,the different elements of our businesswere working very separately, and therewas quite a lot of frustration between salesand marketing as to why our activity wasn’tgenerating quality leads.”— Victor Magarino PenalbaSales & Marketing Director, Comunycarse

CHAPTER 5:MAKING SOCIAL SELLINGTHE NEW NORMALSocial Selling Solutions:Comunycarse has traded outdated databases for a livingdocument that never goes out of date. LinkedIn’sAdvanced Search enables the marketing team to identifykey decision makers.Warm connections through the team’s extendednetwork and personalized outreach via InMail lead toa higher response rate.The ability to generate better leads has led to a redesignedincentive system based on quality rather than quantity.Sales teams are rewarded for the number of relevant,qualified connections they establish