how top teams win in today's social selling environments
TRANSCRIPT
How Top Teams Win in Today’s Dynamic Social Selling Environment
Tony FinnHead of AcquisitionsVodafone
Nick VanWagnerDirector of Insights, Sales SolutionsLinkedIn
Which attendees have adopted social selling the most?
5Sébastien GafforiSocial Media Lead, Bouygues Telecom Enterprises 80
4Perry van BeekTrainer & Coach, LINKEDINORESULTS 81
2James Hartshorn Managing Director, EGN United Kingdom 90
3David KeeneHead of Marketing, Google for Work 82
1Alexander LowNational Director, Jones Lang LaSalle 91
Transforming into a social selling organization
Implementa program
Measure the right metrics
Track & Manageto drive change
Measure the right metrics
Serendipity to Science
ColdCallVolume
SocialSellingIndex
Laggards
1000
Leaders
The Social Selling Index (SSI) measures how well your team has embraced social selling
We identified activities that are predictive of rep success
More predictive activities
Connection requests
Engagements (rec.)
Internal connections
VP + connections
Connections
People searches
Inbound profile views
Endorsements (rec.)
Engagements (given)
Advanced searches
Profile length
Shares
Groups followed
Profile completeness
PV
Rich content on profile
Prospecting PV
InMails sent
Companies followed
SSI leaders create 45% more opportunities per quarter
than SSI laggards.
SSI leaders are 51% more likely to hit quota
than SSI laggards.
45%more opportunities
51%more likely to hit quota
So that SSI is predictive of sales success
Each of the four categories is scored from 0 – 25 making up a maximum total score of 100; LinkedIn’s Social Selling Index
Create a professional brand1
Find the right people2
Engage with insights3
Build strong relationships4
Social Selling Index (SSI)
Create a professional brand
Find the right people
Engage with insights
Build strong relationships
16.2
14.7
9.7
18.9
Social Selling Index 59.5Social Selling Index measures adoption of LinkedIn social selling practices on a 0-100 scale
Performance on four key dimensions, each worth 25 points
VodafoneSales Navigator Users
SSI measures your performance across the four pillars of social selling
Implementa program
Antony Finn, Head of UK Acquisitions Vodafone
A Social Selling Story
In January ‘14 saw the team weren’t going to hit their targets for the year. Traditional sales outreach was not working.
Implementation of social selling practices to build team’s social media presence, find leads and engage insightfully.
Challenge
Solution
From Inside Sales to Client Partners, Tony set the team up for the social world
Complete profile – including picture
Multimedia & blog posts
Buyer-centric language
Antony Finn, Head of UK Acquisitions Vodafone
Social Selling is the new normal
• £30M+ in opportunities in 3 months• 1 new lead worth £45M• Secured 3 meetings for every 5 InMails sent
Results
Example• Social Selling lends to the natural culture of Sales
5 major learnings from implementation
Cold calling is dead1
Social selling is the new normal
The right message to the right person is key: personalize and deliver meaningful insights
Social selling is aligned to sales culture
It works: When implemented well, performance follows quickly
2
3
4
5
Track & Manageto drive change
Matching the increase in pipeline, Tony’s team saw a dramatic increase in their Social Selling Index
Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14
43.5
59.5
Tony's Team All Sales Reps at Vodafone
+ 37%
It’s hard to transform an entire organization - Tony’s team had some laggards Distribution of SSI of Tony’s team
0 3 6 9 12 15 18 21 24 27 30 33 36 39 42 45 48 51 54 57 60 63 66 69 72 75 78 81 84 87 90 93 96 99
SSITony’s
Team avg
But Tony’s team is far ahead of most sales professionalsDistribution of SSI of all sales professionals
0 3 6 9 12 15 18 21 24 27 30 33 36 39 42 45 48 51 54 57 60 63 66 69 72 75 78 81 84 87 90 93 96 99
SSIWorld
avgTony’s
Team avg
Sales Connect attendees have adopted social selling similarly to Tony’s teamDistribution of SSI of Sales Connect attendees
0 3 6 9 12 15 18 21 24 27 30 33 36 39 42 45 48 51 54 57 60 63 66 69 72 75 78 81 84 87 90 93 96 99
SSIRoom
avgWorld
avgTony’s
Team avg
01/06/2014 01/01/2014
+38%
+68%
For Vodafone, the largest increases in SSI were in engaging with insights and building relationships
Create a professional brand
Find the right people
Engage with insights
Build strong relationships
+23%
+35%
Create a professional brand1
Find the right people2
Engage with insights3
Build strong relationships4
Target Connectivity Competition Change
Relationship Flows
SENIORITY:
CXO
COUNTRY:
Global
INDUSTRY:
Banking
Target
TARGET BUYER
FUNCTION:
IT, Engineering, Operations, Purchasing
46KTarget Buyers
1.5K
Connectivity
11%
10%
9%
8%
5%
Customer#1
Customer#2
Customer#3
Customer#4
Customer#5
Connectivity
How Connected Are We to Key Accounts?
5%
5%
10%
3%
4%
Customer#1
Customer#2
Customer#3
Customer#4
Customer#5
Competition
Competitors
How Do we Compare to our Competitors?
11%
10%
9%
8%
5%
+2%
+21%
+0%
+20%+18%
+50%
+25%
+15%
+28%
+8%
Competitors
Change
Customer#1 Customer#2 Customer#3 Customer#4 Customer#5
Are We Gaining or Losing Ground?
LearnmoreaboutLinkedInSalesSolutions:sales.linkedin.com
SalesSolutions
RelationshipReport SalesConnect2014
Want to learn more about how LinkedIn can help you sell smarter?StopbytheSalesInsightsKnowledgeHuboraskyourLinkedInSalesRepabout:1. Whygrowingyourcompany’sandpersonalSocialSellingIndexcanhelpyoucrushyourquota2. HowtoimproveyourpersonalSocialSellingIndex3. Howtobuildrelationshipswithtargetbuyersyoucareabout
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Target buyers Quintiles cares about
Targetbuyersinspecifiedlocationandfunction(s)
785,845Seniority: Director,VP,Owner,Partner,CXO
Country: UnitedStates
Function: Operations
How is Quintiles’ssales team connected to this target buyer?
How connected are Quintiles’s competitors to this buyer?
3,035 Decisionmakerpenetrationthrough1st
degreeconnections
How has connectivity changed over time vs. competitors?
Competitors selected by algorithm. Talk to your sales rep for a customized analysis.
Overlast6 months
+20.5%
785,845
Target Buyers
*1st degree connections = 2,062, as of December 31st 2013
Quintiles
*Decision makers are Director level +
% Connected vs. Competitors
Overlast6 months
+47.2%Quintiles Competitors
(~<1%)
Quintiles
AverageofCompetitors
J eanneHecht
Overview Accountlevel
Now 10/15
Transforming into a social selling organization
Implementa program
Measure the right metrics
Track & Manageto drive change
It’s time to start running