the social selling era: a session by linkedin
DESCRIPTION
Social networks and social media have irrevocably changed the buying process. Learn from the industry leader in online professional networks, LinkedIn, to see how this new social selling era has given companies a competitive advantage. Head of LinkedIn Sales Solutions, Matt Loop, will share strategies and best practices for creating a scalable social selling program. This is a must-see session for sales professionals and organisations focused on pipeline generation and sales effectiveness through the power of social.TRANSCRIPT
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Welcome to the Social Selling Era
CeBit – May 28, 2013
Matt Loop Head of Sales Solutions, ANZ
LinkedIn Sales Solutions
MEMBERS WORLDWIDE +2 New
MEMBERS PER SECOND 100M+ MONTHLY UNIQUE VISITORS
225M+
LinkedIn is the world’s largest professional network
Our Mission. Connect the world’s professionals to make
them more productive and successful
Hire Engage the world’s
best passive talent
Sell Engage the world’s
decision makers
Market Engage most effectively
with professionals
Hire Engage the world’s best passive talent
LinkedIn Confidential ©2013 All Rights Reserved
Reach the best candidates, not just the actives
PASSIVE
>80%
225M+
ACTIVE
<20%
MEMBERS
Talent leaders know that brand matters
Agree that employer brand
has significant impact on
ability to hire great talent
Savings in cost per hire
is associated with a strong
employer brand
83% 50%
Market Engage most effectively
with professionals
225 million minds One aspirational mindset
1 – The Mindset Divide research study, TNS, September 2012
Top 3 types of content expected1
Spend Time
Personal Networks
Info on friends
Info on personal interests
Entertainment updates
Invest Time
Professional Networks
Career info
Updates on brands
Current affairs
1
2
3
Brands build relationships with the world’s professionals by using accurate targeting to deliver relevant content
Target Publish Extend
Target with accuracy
to reach a high
quality audience
Publish relevant
content in a
professional context
Extend through social
sharing and extend
quality traffic and data
to your sites
Sell Engage the world’s decision makers
Focus becomes ever-increasing challenge
Build More Pipeline
©2013 LinkedIn Corporation. All Rights Reserved.
Who is responsible for lead generation?
©2013 LinkedIn Corporation. All Rights Reserved.
Marketing
30%
http://www.customerthink.com/blog/b2b_sales_and_marketing_in_transition_whats_working
?
The world and buyers have changed What once worked, will not work anymore
©2013 LinkedIn Corporation. All Rights Reserved.
97% 75% 57% Of the time cold
calls do not work *7% worse every year
since 2010
B2B purchaser
influenced
by social
Buying decisions
are made before
sales rep involvement
Corporate Executive Board 2012
Connect & Sell 2012
IBM Buyers Preference Study 2011
Call From Unknown
+61 2 8000 2000
vs.
Contacts Lists Company
Webpage
Cold
Contact
Targeted
Search
Social Profile
Warm Introduction
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Jack Brian
Targeted
Search
Social Profile
Warm Introduction
What makes Brian more successful?
©2013 LinkedIn Corporation. All Rights Reserved.
Lead
with insight Use social media
as critical channel
Personally own
lead generation
Reps using this are 40% more successful
©2013 LinkedIn Corporation. All Rights Reserved.
So what is social selling? Leveraging social media to connect with prospects and customers in a meaningful way.
LinkedIn’s Mission:
Turn relationships and information into business opportunities.
How How do I get
a warm intro?
©2013 LinkedIn Corporation. All Rights Reserved.
+225M members
+2B member updates
per week
Billions connections
LinkedIn defines social selling
What What to
talk about?
Who Who are the
Right People?
Who are the right people?
My search yielded 124,789 search results!
I don’t have time to sort through all these searches
By using the premium search filters, it gets
much narrower…
Find Key Prospects 1
With TeamLink, I can narrow down to profiles that have
connection paths to my team
Brian
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What to talk about?
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Discover Actionable Insights 2 Brian
How do I get in?
Brian
4
Find a common connection
This profile fits all my criteria, and has a connection
to someone in our Canadian office
I have a meeting set up for Tuesday!
©2013 LinkedIn Corporation. All Rights Reserved.
3
Asks teammate for an introduction
Don’t be that salesperson…
Don’t be that salesperson…
Don’t be that salesperson…
Don’t be that salesperson…
Social data can surface insights in several areas
Who they
are…
Name
Background
Interests
Company
Whom do
they know…
Inside/Outside Company
In Industry
By Geography
Recommendations
What are they
doing…
New Connections
Activity Updates
Adding to Profile
What are prospects & customers likely
to want to do in the future?
Be this salesperson!
©2013 LinkedIn Corporation. All Rights Reserved.
2X Normal deal size
1 hour
response rate
½ average
sales cycle length
Social Selling Index
• Visibility into company’s social
selling activities
• Identify opportunities for
improvement
• Benchmark against peers and
competitors
Ranks and tracks company utilization of
LinkedIn as a social selling tool.
Social Proximity Index
Assigns new leads and opportunities to sales
professionals based upon their relationships.
Integration to Salesforce.com Included in the various Sales Navigator subscriptions
©2013 LinkedIn Corporation. All Rights Reserved.
From Resume to Reputation
©2013 LinkedIn Corporation. All Rights Reserved.
Source: Eloqua: The Grande Guide to Social Selling
Recent Studies: Top Sales Professionals Use LinkedIn
22
37
Other Top 25
Social selling works – just look at this leading technology
company compared to their peers…
©2013 LinkedIn Corporation. All Rights Reserved.
US AMs & AEs on
Social Selling Index Top 25 reps:
Do 3.8x as many searches
for prospects as their peers
View 2.4x as many profiles
as their peers
Are connected to 1.8x as
many people as their peers
Top 25 US reps
1.7x
Data is from March 2013. Comparison is between US Account Managers & Account Executives & top 25 performers (as sent by leading tech firm in April 2013).
LinkedIn Confidential ©2013 All Rights Reserved 36
$1 mill Increased net new revenue
over 18 months
20% to 50% Increased level of
engagement of VP’s
Rapid adoption by
sales, daily-use solution
“Leveraging LinkedIn Sales Navigator has enabled our sales organization to gain access to our ideal customer profiles faster and more precisely. The net result is more quality leads in the pipeline, which helps us capture a greater share of the market.”
Eric Marcy
Director, Sales Development and Performance
The SAVO Group
LinkedIn Confidential ©2013 All Rights Reserved 37
90% Rapid adoption by sales Sales pipeline Decreased avg sales cycle
“More than 90 percent of our sales staff is using LinkedIn to drive deeper customer relationships, expand our sales pipeline, and close deals every day.”
Loren Alhadeff
VP, Corporate Sales
DocuSign
Summary: Social selling best practices
Buyers have changed
Leverage social data
©2013 LinkedIn Corporation. All Rights Reserved. 38
Buyers are well educated
Lead with insights
Cold calling is ineffective
Go in warm
©2013 LinkedIn Corporation. All Rights Reserved.
Visit our booth inmaps.linkedinlabs.com
How to get started with social selling, TODAY
Visualize
your network
Professional
profile photo
Search ‘LinkedIn’
on appstore
Find content
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Thank you!