welcome to the social selling era
DESCRIPTION
Today’s buyer is harder to reach, harder to engage, and harder to build a relationship with. Sales professionals that infuse each stage of the buying process with social selling techniques are navigating today’s sales environment successfully. By exploring the LinkedIn Social Selling Index (SSI), Mike will explain how to define and measure effective social selling techniques leading to greater efficiency and more profitable sales relationships. What’s your SSI score? This session will help you set goals and refine your social selling acumen.TRANSCRIPT
Welcome to the Social Selling EraMike DerezinVP of Sales SolutionsLinkedIn
Social Selling Trends Serendipity to Science
LinkedIn Sales Solutions Mission
Connect the world’s buyers and sellers to build relationships.
Members first
%of B2B Buyers use social media to
make purchasing decisions
%Of B2B decision-makers expect new
or different insights from sales professionals
More likely to engage with sales professionals via warm introduction
than cold outreach.
Social Selling: The Status Quo
Create a professional brand
Find the right people
Engage with insights
Build strong relationships
Social Selling Defined…
Laggards
0 100Leaders
Social Selling Index
Apr. 2012 July 2014
87%
As measured by growth in SSI
Social Selling is Growing
12.2
22.8
Laggards Making Up Ground
Leaders61
Laggards20
Average49
+8%
+30%
+110%
Social Selling Index:
NAMER
24.6
LATAM
15.3
EMEA
22.5SE ASIA
19.9ANZ
24.0
April 2012Today
18.7
14.7
12.9
12.4
10.9
11.8
12.0
10.6
10.9
8.9
8.7
8.8
7.5
32.6
26.1
24.1
23.7
23.0
22.4
22.1
21.5
21.3
19.6
19.0
18.8
16.6
Technology – Software
Professional Services
Media & Entertainment
Telecommunications
Oil & Energy
Technology – Hardware
Financial Services & Insurance
Healthcare & Pharmaceutical
Government/Education/Non-Profit
Architecture & Engineering
Aero/Auto/Transport
Manufacturing/Industrial
Retail & Consumer Products
April 2012Today
18.7
14.7
12.9
12.4
10.9
11.8
12.0
10.6
10.9
8.9
8.7
8.8
7.5
32.6
26.1
24.1
23.7
23.0
22.4
22.1
21.5
21.3
19.6
19.0
18.8
16.6
Technology – Software
Professional Services
Media & Entertainment
Telecommunications
Oil & Energy
Technology – Hardware
Financial Services & Insurance
Healthcare & Pharmaceutical
Government/Education/Non-Profit
Architecture & Engineering
Aero/Auto/Transport
Manufacturing/Industrial
Retail & Consumer Products
Over 100% Growth
22.8
Find the right people
Build strong relationships
Create a professional brand
Engage with insights
Social Selling Index
Worldwide Reps
10.45.01.65.8
Sales ConnectAttendees
17.912.97.0
12.9
50.7
How Are We Doing in the Room?
ENTERPRISE SMB
Who are the Social Selling Leaders in the Room?
1
2
3
4
5
1
2
3
4
5
63
58
55
52
50
51
45
44
42
41
ENTERPRISE SMB
Companies with the Biggest SSI Increase
1
2
3
4
5
1
2
3
4
5
+2.6
+2.4
+2.1
+1.7
+1.7
+23.5
+18.6
+8.4
+7.2
+7.2
Sales Professionals Who Are Social Selling
51% more likely to exceed quota
Exceed Quota
3X more likely to go to club
Go to Club
Promoted to VP 17 months faster
Get Promoted Faster
3X more likely to go to club
Go to Club
51% more likely to exceed quota
Exceed Quota
Promoted to VP 17 months faster
Get Promoted Faster
Sales Professionals Who Are Social Selling
• Achieved more than 120% of quota (#1 rep)• Has built over 100 new clients in pipeline
“If it wasn’t for LinkedIn, I would not have built the existing network I have with some large NFP organizations…LinkedIn Navigator is addictive. It is like having a strategy manager working for me 24/7. ”
SSI64
3X more likely to go to club
Go to Club
51% more likely to exceed quota
Exceed Quota
Promoted to VP 17 months faster
Get Promoted Faster
Sales Professionals Who Are Social Selling
• President’s Club FY 2014• Finished the year at 166% of Quota
“I put it down to LinkedIn; when I track down my lead sources for deals I closed LinkedIn had a profound effect on how I engaged with decision makers and how I went about identifying those individuals.”
SSI71
3X more likely to go to club
Go to Club
51% more likely to exceed quota
Exceed Quota
Promoted to VP 17 months faster
Get Promoted Faster
Sales Professionals Who Are Social Selling
• Jan 2011 Promoted to Sales Manager ANZ• Nov 2013 Promoted to Senior Manager APJ
“As a key driver of Sales Navigator and social selling within the business, I built my reputation as an innovative and forward thinking leader giving me access to new opportunities.”
SSI63
Social media is #1 factor for Driving High Rep Performance
n=1, 078 Source: Sales Executive Council, featured in CEB’s “Getting in Early: Shaping Demand Through Pre-Funnel Engagement, 2012
Serendipity to Science
image by Photologue_np
Talent Flows
Competitor A
Competitor B
Competitor C
Competitor D
Competitor E
Competitor F
Competitor G
Competitor H
Competitor I
Competitor J
Competitor K
Competitor L
1 6
6 4
5
6 8
3 2
3 2
8
2 5
6
3 2
5
1 4
Unique 1st Degree Connections in this Room
Because Your Team is Not Connected to Each Other, they Won’t See their Peers’ Connections.
Target Connectivity Competition Change
Imagine…
Relationship FlowsIntroducing
Target
TARGET BUYER
SENIORITY:VP, CXO
COUNTRY:Global
INDUSTRY:Manufacturing
FUNCTION:
IT, Sales, Marketing, HR
has… 2K
Connectivity
6%
6%
8%
11%
14%
Customer #1
Customer #2
Customer #3
Customer #4
Customer #5
Connectivity
How Connected Are We to Key Accounts?
9%
5%
7%
5%
8%
Customer #1
Customer #2
Customer #3
Customer #4
Customer #5
Competition
Competitors
How Do we Compare to our Competitors?
6%
6%
8%
11%
14%
+5%
+10%
+4%
+50%
+4%
+18%
+5%
+11%+14%
+12%
Competitors
Change
Customer #1 Customer #2 Customer #3 Customer #4 Customer #5
Are We Gaining or Losing Ground?
Learn more about LinkedIn Sales Solutions: sales.linkedin.com
Sales Solutions
Relationship Report Sales Connect 2014
Want to learn more about how LinkedIn can help you sell smarter?Stop by the Sales Insights Knowledge Hub or ask your LinkedIn Sales Rep about:1. Why growing your company’s and personal Social Selling Index can help you crush your quota2. How to improve your personal Social Selling Index3. How to build relationships with target buyers you care about
Copyright © 2014 LinkedIn Corporation. LinkedIn, the LinkedIn logo, and InMail, are registered trademarks of LinkedIn Corporation in the United States and/or other countries. All other brands and names are the property of their respective owners. All rights reserved.
Target buyers Quintiles cares about
Target buyers in specified location and function(s)
785,845Seniority: Director, VP, Owner, Partner, CXO
Country: United States
Function: Operations
How is Quintiles’ssales team connected to this target buyer?
How connected are Quintiles’s competitors to this buyer?
3,035 Decision maker penetration through 1st
degree connections
How has connectivity changed over time vs. competitors?
Competitors selected by algorithm. Talk to your sales rep for a customized analysis.
Over last 6 months
+20.5%
785,845Target Buyers
*1st degree connections = 2,062, as of December 31st 2013
Quintiles
*Decision makers are Director level +
% Connected vs. Competitors
Over last 6 months
+47.2%Quintiles Com
(~<1%)
Quintiles
Average of Competitors
Check out your Relationship Report that was provided1
Visit the “Sales Insights Knowledge Hub”
Speak with your LinkedIn rep
2
3
Learn more about LinkedIn Sales Solutions: sales.linkedin.com
Sales Solutions
Relationship Report Sales Connect 2014
Want to learn more about how LinkedIn can help you sell smarter?Stop by the Sales Insights Knowledge Hub or ask your LinkedIn Sales Rep about:1. Why growing your company’s and personal Social Selling Index can help you crush your quota2. How to improve your personal Social Selling Index3. How to build relationships with target buyers you care about
Copyright © 2014 LinkedIn Corporation. LinkedIn, the LinkedIn logo, and InMail, are registered trademarks of LinkedIn Corporation in the United States and/or other countries. All other brands and names are the property of their respective owners. All rights reserved.
Target buyers Quintiles cares about
Target buyers in specified location and function(s)
785,845Seniority: Director, VP, Owner, Partner, CXO
Country: United States
Function: Operations
How is Quintiles’ssales team connected to this target buyer?
How connected are Quintiles’s competitors to this buyer?
3,035 Decision maker penetration through 1st
degree connections
How has connectivity changed over time vs. competitors?
Competitors selected by algorithm. Talk to your sales rep for a customized analysis.
Over last 6 months
+20.5%
785,845Target Buyers
*1st degree connections = 2,062, as of December 31st 2013
Quintiles
*Decision makers are Director level +
% Connected vs. Competitors
Over last 6 months
+47.2%Quintiles Com
(~<1%)
Quintiles
Average of Competitors
3%
3%
4%
7%
6%
11%
14%
17%
19%
19%
Customer #1
Customer #2
Customer #3
Customer #4
Customer #5
Competition
Competitors
How Do we Compare to our Competitors?
Overview Account level
LinkedIn Sales Solutions Mission
Connect the world’s buyers and sellers to build relationships.