managing your team to higher quotas with social selling
TRANSCRIPT
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Managing Your Team to Higher Quotas With Social Selling
March 23, 2011
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Andrew Gaffney Editor/Publisher
DemandGen Report
Greg Brush Vice President
Sales and Customer Success
InsideView
Mike D’Onofrio Senior Director SMB
Sales Concur
Today’s Speakers
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§ Launched in April 2007 to track best prac7ces in lead
genera7on, lead management
§ Newsle=er has grown to more than 25,000 readers
§ We also offer a menu of research and best prac7ces
reports
About DemandGen Report
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Your GoToWebinar Attendee Viewer is made of 2 parts:
Type your question here
Welcome Webinar Attendees
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For Your Consideration
• 100 Million…Members Now On LinkedIn • 71%...of BtoB Inquires Will Be Web-Driven By 2015
• 61%...of BtoB marketers indicated they plan to increase their use of public social networks as a tactic
• 59%...of buyers engaged with peers who addressed the challenge
• 41%...of buyers followed discussions to learn more about topic before making a a buying decision
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Greg Brush Vice President
Sales and Customer Success
InsideView
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Social Selling A Brief
Overview
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“Social media has become massively more important because customers have stopped listening to vendors and analyst/reviewers. Think about that. Most of your marketing and analyst
relations and press relations are being trumped by customers talking to customers.”
Geoffrey James, BNET
Customer 1.0 Customer 2.0
Customer Buying Behavior is Changing!
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Sales
Sales Professionals Are Overwhelmed
SMB and Enterprise
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Listen
The Three Key Steps For Social Selling
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Connect
Salesforce.com Chief Marketing Officer
TARGET COMPANY
James W. Breyer Director Model N, Inc.
REFERENCE CUSTOMER
Also Works at
Dell, Inc. (Independent Director)
TARGET COMPANY
Board of Directors
DELL
Michael S. Dell Chairman of the Board Chief Executive Officer
TARGET COMPANY
William H. Gray III Former Director HP Enterprise Services, LLC.
TEAM PREVIOUS EMPLOYER
Now Works at
Kendall Collins Former Director of Marketing Siebel Systems
LINKEDIN CONNECTION
Engage
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My Employer Target Company Gerald S. Casilli Board Member -
InsideView Also Works at
Xactly Corporation (Board Member)
Team Previous Employer Target Company Cory Ayres
Former, Salesforce.com Now Works at Xactly Corporation
Director, Corp Sales
Connection via Greg Volm
Smart Connections – Identify entry points
Daily Summary Alert Acquisitions
Xactly, Inc – Xactly to Acquire Centive Xactly Corporation today announced it has acquired the
Lowell, MA-based company Centive to become the software industry’s largest ….
Smart Agents – Delivered via Email
Finding, Accelerating, and Closing Deals With Social Selling
Smart Records – Close the loop
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Impacting the Entire Revenue Funnel
Lead Genera7on
Lead Qualifica7on
Opportunity Management
Renewals and Up-‐selling
I N T E L L I G E N C E
• Business Event Monitoring (Press, Social Media) • Social Media Profiles • Connection Mapping
D A T A
50% decrease in research 7me
22-‐>70 New Opportuni7es/Rep/Month
Improved selling to C-‐
level
Increase Avg. Contract Value
by 460%
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Exceptional ROI
43.4%
45.9%
50.8%
40%
42%
44%
46%
48%
50%
52%
No Tools Sales Data Sales Intelligence
Win Rates (2,000 Companies Studied)
Assuming $1M Quota, Intelligence vs. Data => 11% Revenue improvement
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Mike D’Onofrio Senior Director SMB
Sales Concur
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Managing Sales at Concur
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Concur and InsideView
Mike D’Onofrio Senior Director, SMB Sales
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What does Concur do?
We enable organizations to control costs by automating the processes
they use to manage employee spending
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© 2011 Concur, all rights reserved. Concur is a registered trademark of Concur Technologies, Inc.
Concur Fast Facts
Leader in integrated travel and expense management solutions
Started as an on-premise solution in 1994
SaaS solution introduced in 2000
10,000+ customers in more than 90 countries
1,400 employees CNQR: $292M FY10 annual revenues
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© 2011 Concur, all rights reserved. Concur is a registered trademark of Concur Technologies, Inc.
Checks Printed/ Data Entry to Bank
Checks/Payment Scheduled
Mailed to Office
Changes?
In Compliance?
Manager Review
Match up?
Manually Keyed
Check Received!
Mailroom
Manually Signed
Mailed
Upgrade? Travel
Manually Forwarded
Audited in AP
Mailroom
Travel Booked
Receipts Gathered
Manual Processes like Travel Booking and Expense ReporCng are Inefficient & Labor Intensive
Concur Copyright © 2008 Concur Copyright © 2008 Concur Copyright © 2008
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© 2011 Concur, all rights reserved. Concur is a registered trademark of Concur Technologies, Inc.
Technology: We’ve Come a Long Way with Travel and Expense
Online travel booking tool E-receipts
Auto-populated expenses T&E access on mobile device Pro-active policy enforcement Now: one end-to-end process
After
Before Book Trip
Complete and Submit Expense Report
End-Users
Audit
Managers
Reimbursement
AP
Reporting
AP, Managers, Executives
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© 2011 Concur, all rights reserved. Concur is a registered trademark of Concur Technologies, Inc.
A Mobile ApplicaCon that Saves Time and Money Available on these Industry-‐Leading PlaOorms
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© 2011 Concur, all rights reserved. Concur is a registered trademark of Concur Technologies, Inc.
Great SoluCons For Clients
Manufacturing
Banking
Software
Media & Entertainment
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© 2011 Concur, all rights reserved. Concur is a registered trademark of Concur Technologies, Inc.
Sales OrganizaCon Structure
§ North America
§ Global/ Enterprise-‐ 6000 Employees+
§ NaConal/ Large Markets-‐ 500-‐6000
§ SMB
§ 50-‐ 500; Virtual and Field
§ 1-‐50 On line
§ EMEA and APAC
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© 2011 Concur, all rights reserved. Concur is a registered trademark of Concur Technologies, Inc.
The Challenge
§ Transform a Primarily Up Market Focused ORG and Sales Culture to SMB § Speed and Scale
§ Focused on Market Share-‐ New Client AcquisiCon-‐ Lots of them!
§ Relevant Process, Methodology, Tools and Training
§ Enable Efficiencies along with increased EffecCveness; many deals sCll have mulCple consCtuencies
§ Put in Place a FoundaCon to Grow SMB-‐ Revenues, Market Share and Headcount
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© 2011 Concur, all rights reserved. Concur is a registered trademark of Concur Technologies, Inc.
State of the Business-‐ 2/1/10
Key Performance Indicators
§ < 2 Deals per Rep Per Quarter
§ 125 Day Sales Cycles
§ New Hire Run Rates at 30% of Full Year Plan in the first 12 months
§ 25% of New Business Team > 100%
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© 2011 Concur, all rights reserved. Concur is a registered trademark of Concur Technologies, Inc.
Underlying Issues § Lack of Qualified Leads § Under Developed New Territories-‐ Expansion
§ IneffecCve MarkeCng to new Territories including outbound effort by MarkeCng and MDRs
§ IneffecCve at early stages in the sales process
§ Poor Data with LimitaCons on EffecCve Market IdenCficaCon
§ Cumbersome approach to call readiness, account planning and decision structures
§ Tough New Hire Process (Building Territories, IdenCfying Targets, Cumbersome/ Disconnected Tools and Processes
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© 2011 Concur, all rights reserved. Concur is a registered trademark of Concur Technologies, Inc.
The Pilot § Pre Quotes: “As a new hire I spent 2-‐3 hours a day going into SF.com and trying to get valid data; jumping over to hoovers, website, press releases, key contact research,
“it could take 2-‐3 hours a day to research 10 accounts”
“As an MDR-‐ more than ½ of a day was research, a minimum of 5 hours a day”
§ Pilot § 6 Direct Sales
§ 3 Pre Sales
§ 3 Sales Leaders
§ Mid Market-‐ 50-‐499 Ees
§ Rollout-‐ 60+ Seats across MDRs, MM and some Large Markets
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© 2011 Concur, all rights reserved. Concur is a registered trademark of Concur Technologies, Inc.
SoluCon
HolisCc Approach; MarkeCng, Territories, Sales Process, Training/ On Boarding, Price and Packaging…. to name a few
§ Revamp the Sales Process, Approach and Tools for SMB
§ Adopted Tools and Methodologies that enabled:
§ SALES Efficiency and EffecCveness
§ At the Pre QualificaCon (MDR) and Sales Rep stage
§ Supported a Sales 2.0 approach; “MQL/SQL”
§ Provided Leadership with Tools to IdenCfy Markets, Develop Territories and Improve Account Management
§ Increased Usage and Data Integrity in SF.com
§ accelerated sales cycles and increased new unit sales
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© 2011 Concur, all rights reserved. Concur is a registered trademark of Concur Technologies, Inc.
How InsideView Helped § MDRs-‐ Pre Sales
§ Front Line Lead Gen Team achieved dramaCc improvements in quality of leads and data passed to Sales
§ Direct Sales Team
§ Improvement in Territory Development and Target Lists
§ New Hire ProducCvity-‐ geong off to a quick start
§ Increased First Call EffecCveness and Overall Account Planning
§ Sales Leadership
§ Common Language and Process
§ Simplified the Account Review Process
§ Increased the number of reviews done per quarter
§ Improved Territory Equity and allowed for Increased Headcount as appropriate
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© 2011 Concur, all rights reserved. Concur is a registered trademark of Concur Technologies, Inc.
Improving Sales and MarkeCng Alignment § MarkeCng Team
§ Ability to idenCfy VerCcal Markets and Key Contacts for Campaigns § Work with the sales leadership team on Key Markets and VerCcals § Execute Campaigns quickly and usually at lower cost compared with previous list buy
§ Sales Leadership § Improved EffecCveness in Territory CreaCon and Adding Rep Headcount § Used a balanced approach in FY 11 to Territory CreaCon § Increased the number and effecCveness of Key Account Sessions by using InsideView and WebEx
§ Easily idenCfied LinkedIn ConnecCons § MarkeCng Lead Pre-‐QualificaCon
§ Set Up Watch lists on Top 50 Target Lists § Improved Pre Call Planning on all Web and Partner Leads § Increased Profile Scores on Target Accounts by 50%
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© 2011 Concur, all rights reserved. Concur is a registered trademark of Concur Technologies, Inc.
Results § 190% Increase in Y o Y Performance
§ 2x Increase in Number of new Deals
§ 3x increase in Reps > 100%
§ 3x Increase in New Hire ProducCvity
§ 10% improvement in Close Rates
§ Cut Sales Cycle Times by 50%
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1. Impacting Sales Productivity
2. Tools & Technologies
3. What Metrics and Results To Track
4. How to Implement Social Selling?
5. Ensuring Sales & Marketing Alignment
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Panel Discussion: Managing Teams To Higher Quotas With Social Selling
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Q&A
Type your question here
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THANK YOU