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We partnered with Focus.com to discuss the best practices to leverage social media for sales teams. After talking to eight of the top thought leaders in sales training and sales technology we wanted to bring their insights to you. This is going to be a 3 part series that covers what successful salespeople are doing to leverage social media in lead generation and accelerating their opportunities. Some of these experts are listed in our post on the 25 most influential sales leaders. Much appreciation to these experts for taking the time to address the question “How do your successful salespeople leverage social media for selling?“
- Miles Austin
- Marge Bieler
- Dave Brock
- Barbara Giamanco
- Matt Heinz
- Carlos Hidalgo
- S. Anthony Iannarino
- Craig Rosenberg (AKA The Funnelholic)
The first step and one that was consistent across 100% of the successful salespeople was to get connected.
Use your existing connections and networks to actively pursue new introductions. 
“It’s so easy, on sites from LinkedIn to Facebook and more, to see who your existing ‘friends’ and connections already know. On LinkedIn, for example, you can quickly search for contacts you want to meet based on which of them are already connected to people in your existing network. This is one of the best ways to get referrals and introductions, not by asking your network to ‘keep you in mind’ but, instead, periodically asking for specific introductions. By getting specific, your conversion rate goes up and you’re talking to the people you specifically want to meet and sell to. In your existing organization, there is the sales team, but I’m thinking the rest of the company is a gold mine of potential introductions — especially founders, longtime employees and others who have spent a long time in your industry. They know people, people know them, and they’re more likely to help you make connections and new introductions.” (Heinz)
“Every time they receive a referral, email or leadership content, salespeople can highlight names mentioned in document, then research mentioned leaders, clients and customers — even competition — and send a note or invitation asking to join their conversations via LinkedIn, Twitter, Facebook and other social media platforms. By connecting with each other, you then can offer assistance or referrals and also build a trusted network of individuals to help build your referral base. Most people are thrilled you took the time to reach out to them when reading their books, viewing their videos, etc.” (Bieler)
“Successful salespeople are also using social media to identify the relationships that their prospective clients have to other people they already know. Successful salespeople aren’t afraid to leverage their relationships, to ask for introductions, and to rely on the people they know and what they know to open these relationships. Because these social media connections exist, what was once invisible is now visible; it’s easy to identify relationships and leverage them to find a way in. But it’s important to remember that your prospective clients are also using the tools to learn about you. Recently, I called on a major prospective client. After our meeting, he searched for my name on the Internet and found that we had a common connection on Facebook (his best friend from high school). He called his friend to get a reference on me before deciding whether or not to move forward. Fortunately, his friend recommended my work. Social media is no longer something salespeople can opt out of. It reminds me of what President Richard Nixon used to say about foreign affairs: ‘You might not be interested in the world, but it’s interested in you.’ ” (Iannarino)
Use Twitter and other social channels to build deeper, early relationships with new prospects.
“Here’s exactly how you do it (at least with Twitter, but other social channels can likely be done in a similar fashion). Build a list of the prospects in your territory or market. With the help of an admin or an outsourcing service like eLance, go and collect the Twitter handles of each company and as many of the individuals as you can find. Using your own Twitter account, follow those companies and individuals. Then, using a tool such as HootSuite, set up a separate column where you can specifically watch activity from those prospects. This makes it easier and faster to engage with them on a regular basis. Answer their questions. Share a resource. Retweet their articles. In other words, use their attention to this social channel to build value by interacting where they are already spending their time and looking for information.” (Heinz)
Any sales reps worth their salt does their homework before contacting a lead. The following best practices can pave the way for highly effective conversations with prospective buyers.
Ignite Smarter Conversations
Once a contact becomes a qualified lead or opportunity, sales needs to know who to reach and how, and what to say to get their attention. It’s no longer just who you know that will make business deals happen, but what you know about who you know, tightly synched with when and where you should know it. After all, according to IDC, IT buyers indicate that ~54% of sales reps are unprepared for their initial customer meetings.
To prep for the meeting, your reps can tap into sales intelligence to pinpoint what’s top of mind for the contact and immediately establish rapport on the call. With access to multiple data sources in a single place, your sales reps will spend less time on research, yet will be more effective on the phone.
A study by CSO Insights shows that even when using CRM:
- It takes sales reps an average of 4 voice mails or emails to get that first, pivotal appointment with a prospect
- They often have to wait 3 to 4 days for a response
- 60% of sales reps waste the equivalent of 6 selling weeks a year just trying to get customers on the phone.
Combined, traditional business information services and social media can help create the best prospect intelligence, enabling sales professionals to sort through potential deals and dealmakers. With insight into companies (for example, M&A activity, new leadership, and major initiatives), contacts (title, email, and phone number), and social profile information or people insights (“I see we have friends in common,” or “We went to the same school,” or “You recently tweeted about X”), your sales reps can start the conversation off right.
The sales reps that take advantage of the intelligence to be found in the online conversation are reaping the rewards. In a study of sales reps within 2,000 companies, the reps that turned to sales intelligence ended up with higher win rates.
How ‘smart’ are the conversations you have with prospects?
Summer of Sales Intelligence: InsideView Sees Huge Gains in Customers and Major CRM Platforms, Delivers 8 Million Sales Triggers in Recent Quarter
Ten times more companies started using intelligence to sell better in 2011′s Q3 than any other quarter. That’s according to the latest numbers from InsideView, the leading provider of sales intelligence for the enterprise. The company also revealed it delivered more than 8 million unique new opportunity sales triggers to its customers during the same period.
Intelligence Over Data: Quality and Quantity in Harmony
InsideView’s sales intelligence provides something data simply can’t: a competitive advantage. Anyone can provide a current title, phone number or email address on a lead. Only InsideView can provide this basic information, but more. For example, a business event — like an acquisition or merger — that warrants sales outreach, or news event like a product launch, that matters to the ongoing sales conversation.
“While other companies are betting their business on providing more and more data, we’re finding accelerating demand for higher quality sales intelligence, not just more data,” said Umberto Milletti, CEO of InsideView. “Sales intelligence is the combination of not only business data, but social context, how you’re connected to a lead or prospect, valuable news insight, and real-time triggers that inform you when to take action. In fact, we’re delivering 35 million unique news trigger events to our users a year to help them sell better and generate more revenue.”
Independent research firm Aberdeen Research has found that InsideView’s style of sales intelligence increases several key areas for sales success, including sales quota attainment, customer retention and overall revenue growth.
“We have seen that, in 2010, the best-in-class organizations outperformed by achieving 28% revenue growth compared to just 3% for others — and intelligence is a key reason for this,” said Peter Ostrow of Aberdeen Research.
Big Growth and Launch of CRM+
InsideView’s own growth saw almost 10,000 new professionals using its free product, and over 250 enterprises signing on to its award-winning paid version, since July. In August, the company launched CRM+, which brought its intelligence technology to a broader business sector including marketing, service, human resources and more.
“InsideView gives businesses sales intelligence and information that will aid sales operations with helping develop and maintain leads and clients,” noted TechCrunch in coverage of InsideView’s CRM+ launch. “CRM+ now brings social data to all CRM users (marketing, operations, customer service, etc.), not just sales.”
InsideView was also the only provider of sales intelligence included in August’s Gartner Magic Quadrant for Social CRM.
Success On All CRM Solutions
InsideView’s leadership continues across all major CRM platforms:
- Salesforce.com: InsideView continues to be the all-time most popular sales app on the salesforce.com AppExchange.
- Microsoft Dynamics CRM: In July, the company was selected as a 2011 Microsoft Dynamics Marketplace Solution Excellence Partner of the Year.
- SAP: Earlier in the summer, InsideView gained the prestigious “Powered by SAP NetWeaver®” certification status.
- SugarCRM: In June, InsideView and SugarCRM combined forces to bring InsideView standard and out-of-the-box.
- Oracle CRM OnDemand: InsideView is part of the Inner Circle program.
- NetSuite: Collaboration through the Preferred Partner Program.
To learn more about InsideView, please visit www.insideview.com.
One of the best messages from Dreamforce was the realization from 45,000 attendees that data is good but it is not enough to move the revenue needle. The comments from current customers and new businesses that stopped by the booth validated that cold calling is dead and without a very targeted message with relevant information from both traditional sources and social media, a sales rep’s chances of getting contact and creating new opportunities is very slim.
With the announcement that Jigsaw and D&B are being combined to create Data.com, our customers are echoing our response that this is just further validation that data is a commodity and without a layer of intelligence to help sales, marketing and support identify the right people to contact, you may as just use last years Yellow Pages.
Where’s the value-add? D&B and Salesforce are pitching this idea as a marriage between two classes of data: Salesforce contacts and D&B business. (For “Salesforce contacts,” read “Jigsaw.”) But Jigsaw data already associates contacts with their companies, and already contains (by Salesforce’s own estimate) over 4 million crowd-sourced corporate profiles. Of course, this calls into question the authenticity (and accuracy) of those profiles versus D&B’s professional research.
Keeping the entire company on the same page with prospects and customers is something that CRM can help with but it’s not the answer. There are so many things changing with companies on a daily, weekly and monthly basis that it’s impossible for anyone or any company to keep up with all the changes in leadership, news and events. This is why we believe that sales intelligence is the answer.
Adding a layer of intelligence to your sales process will dramatically increase sales productivity and increase your opportunity win rates. Does social media answer all the needs of every sales organization? No. But it adds an additional layer that gives sales people an edge when identifying new prospects and making that first phone call less awkward. Even marketing automation companies like Marketo see the value in leveraging social media for sales.
10 additional Articles on Data vs. Intelligence
- The problem with BIG data.
- 10 tips to drive sales productivity.
- Social Selling in the Enterprise
- The Only Sales Application on the Gartner Magic Quadrant
- Data Accuracy vs Quality
- Sales and Marketing alignment with social media
- Listen to your customers using social intelligence
- Is social media the new cold call?
- Using Twitter for social selling.
- Intelligence Trumps Data for Sales Productivity
Adds Intelligence to the Social Enterprise with Launch of CRM+
Beyond Data: InsideView Brings Intelligence to Marketing, Sales, Service, and Operations
By going beyond mere business data to provide complete customer intelligence, Our latest product CRM+ revolutionizes the way all CRM end users – from sales, marketing and service, to operations and partner channels – know their contacts and prospects, build trust, execute productive one-to-one relationships and, ultimately, drive more revenue. With today’s launch, we set a new standard in bringing holistic and social intelligence to the fingertips of all B2B CRM users.
“We have seen that, in 2010, the best-in-class organizations outperformed by achieving 28% revenue growth compared to just 3% for others – and intelligence is a key reason for this.” – Aberdeen Group
“What made 100,000+ sales people more productive is now available to service, marketing, operations and partner channels: the intelligence needed for meaningful one-to-one relationships.,” said Umberto Milletti, CEO of InsideView. “For example, just as sales has used intelligence to increase conversion rates, marketing uses contact intelligence to hone their campaigns, account management uses current news to time renewal offers, and professionals such as business development use intelligence to open new relationships.”
“Overwhelming ‘big’ data falls short in providing the intelligence needed for one-to-one business in marketing, service, sales and operations. For example, it’s a no-brainer to have current contact information on a prospect, but what about a holistic view of how you’re connected through former reference customers? Or a news article showing the company just made an acquisition? What about their latest tweets? It’s time for forward-looking intelligence in CRM to correct the ‘rear-view mirror’ approach currently provided by data companies,” said Umberto Milletti, CEO and founder of InsideView.
What made 100,000+ sales people more productive is now available to service, marketing, operations and partner channels” Umberto Milletti
CRM+ is for any company looking to empower all external-facing employees with real-time intelligence on prospects and customers, suppliers and partners. InsideView’s CRM+ provides just that to ensure all users are looking at the same information, improve KPI, and create more meaningful one-to-one relationships. InsideView CRM+ does this within workers’ process flow within their existing CRM platform.
Independent research firm Aberdeen Group has already shown the benefits of InsideView’s intelligence on sales results: At least a 10 percent increase in top-line revenue and more than 10 percent increase in quota attainment, to name a few. When intelligence is applied to additional areas – such as marketing and customer service – the impact is even greater.
“Providing intelligence to not just sales but to other parts of the organization including marketing, customer service, and operations makes a big difference in terms of overall organizational performance,” said Peter Ostrow of Aberdeen Research. “We have seen that, in 2010, the best-in-class organizations outperformed by achieving 28% revenue growth compared to just 3% for others – and intelligence is a key reason for this.”
“As companies continue to embrace social CRM, they need intelligence – not data – to manage the rapidly changing landscape of customer relationships,” Milletti added. “We are excited to launch this next big step in providing this meaningful, actionable and results-driving intelligence to the entire social enterprise.”
It was a busy month and I’m catching up on some announcements. After the announcement of our prize at Dreamforce, a major announcement with our partner SugarCRM, a new product release with some amazing enhancements, I had some other social projects to work on. One of those projects was a redesign of Social Selling University. SSU was created early this year with a focus in social selling for the enterprise. After a great series of webinars and speaking events, it was clear to everyone that Social Selling University was something we needed to invest more resources into. That started with a better looking website.
New Social Selling University Website
Social Selling by definition is the use of sales 2.0 tools to identify and engage prospects to create new opportunities and drive revenue. The biggest obstacles I encounter when talking to sales teams is that even though they are familiar with social media on a personal level, they don’t know where to start when it comes to applying these tools to their professional life.
Social Selling University is broken into 4 main parts that are designed to offer education and resources to sales people that want to know more about leveraging social media for sales.
The amount of content is growing and we are just about to roll out our next series of webinars featuring sales experts and training on ways to make the most out of Twitter, LinkedIn and other social tools that can get you more connected with your prospects.
We are excited that we were included for the second year running to the Gartner Research Magic Quadrant for Social CRM. InsideView is the only company in the Magic Quadrant specifically addressing the sales processes, intelligent monitoring, outreach and collaboration for sales professionals. This is only the second time that Gartner Research has addressed the growing market of Social CRM (sCRM).
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In the report’s introduction, Gartner analysts mandate measurable benefits of any social CRM vendor included in the Magic Quadrant. InsideView’s integrated, seamless sales intelligence has been shown by analyst firm Aberdeen Research to improve top-line revenue by more than ten percent.
“While others focused on one-to-many marketing and service areas, we have focused on the one-to-one relationships critical for sales,”
“InsideView distinguishes itself as one of the few vendors in social CRM focused on sales processes,” reads the Gartner report, available for purchase here. The report continues, “With an emphasis on usability, InsideView has promoted a compelling vision for applying search and relationship mining technologies to aid salespeople with key informational needs around sourcing contacts and leads, as well as monitoring business events and personnel within accounts.” Ease-of-use is also praised: “…easy to set up and personalize to specific needs (i.e., list building, lead generation, lead qualification, precall research in prospecting, account research, etc.).”
The report also highlights InsideView’s ability to uncover new sales opportunities and relationships, as well as to provide real-time intelligence and social information on leads and prospects through its unique Buzz Tab. One new area of emphasis by InsideView is the establishment of broader community: just last month, InsideView launched a Lithium-powered community for its nearly 100,000 users.
“While others focused on one-to-many marketing and service areas, we have focused on the one-to-one relationships critical for sales,” said Umberto Milletti, CEO of InsideView. “It’s great to see the industry analysts agree on the importance of these one-to-one relationships. We are now expanding more into the areas of marketing and service as these recognize the need for deeper relationships. Look for some exciting announcements about our offering soon.”
TweetSocial Media has become a staple to many companies. Recent research indicates that 80% of companies with at least 100 employees will use social media marketing this year. That’s up from about 75% last year. Based on the US Census from 2007 that’s millions of establishments that are leveraging social media.
Companies have realized that a solid social media strategy is vital to the companies goals for revenue and growth. Emphasis still remains on common business goals like
- Customer retention
- Customer acquisition
- Customer profitability
- Branding
With these priorities in place, traditional methods of execution are being supplemented by social media. Even with such large numbers of companies leveraging social media, research shows that only 17% of them feel they are ahead of the curve when it comes to using social media to achieve these goals. (source)
One of the things I notice most when talking to companies about their social media strategies is that it focuses primarily around marketing and support. These have obvious benefits that can be measured and scaled to show an ROI.
What we are finding more of now are companies that want to be in that group of companies that are leveraging social media a head of the curve. This is done through the use of applications and training. Where many companies are building a more strategic focus is in their sales teams where social media is getting used to drive revenue and customer acquisition.
With sales enablement and sales intelligence applications the ability to turn social media into a sales tool becomes a reality and even a necessity to many companies that see the financial benefit of them.
When companies become active in social networks with the goals listed above, the actions should not stop with the marketing department. Sales teams should be trained and active in the networks where marketing has identified new prospects. The goal is to bring the prospects from a virtual environment into a live conversation with the sales team. This may be easier with some prospects than others but some prospects will gladly take a demo or a call with the sales team but want an active engagement online as well during the buying process.
If your company is not activating the sales team members to engage in social media where the prospects are responsive (that’s where you found them originally) then you risk losing them. Your sales team may lose them in the sea of other emails and calls that they receive on a daily basis.
When a prospect is engaged online and sales or lead qualification gets involved there should be an effort to incorporate a social selling strategy that blends common sales process with an online one. You’ll find more engaged buyers and customers that communicate with you in many channels and become advocates for your company during the buying process and throughout their time as a customer.
What is Gamification?
One of the trending topics in business is gamification. If you are not familiar with the term, in short, gamification is the application of game mechanics to non-game experiences that can drive an audience to a desired behavior.The size of the audience available through gaming is enormous and rivals television as a medium.
According to Forrester, gamers span just about every demographic.
- 65% of Xbox gamers are male
- 59% of “social gamers” (like Farmville…) are women
- 23% of the “social gamers” are Boomers between 45 and 65 years old.
In general gamers are also more motivated to have ‘connections’ with people than non-gamers. In the world of sales, connections and engagement is key to driving pipeline growth and creating new opportunities.
A few definitions of gamification:
- A game is structured play, usually for fun.
- Gameplay is interaction inside of a game.
- Game Mechanics are constructs or tactics commonly used in games to encourage gameplay. These are things like badges, points, leader boards, levels, challenges, achievements and virtual sheep you can put on your virtual farm.
- Game Dynamics are strategies commonly used in game design based on psychological motivations. These include things like “Appointments,” in which someone does something to gain a reward, “Avoidance,” in which someone does something to avoid a punishment, or the “Free Lunch” dynamic, in which people feel they are getting something because of their behavior.
- Currencies are ways to give people incentives based on various motivations in a digital world: the need for financial reward, the need to do good, the need to help one’s community, the need for recognition and influence, the need for pleasure. We can assign currencies to each one of these motivations to reward people for desired behaviors.
Gamification for Sales
Turning the sales process into a game is not a stretch of the imagination for companies. In may ways companies with B2B sales people have already added game mechanics into the process on a small scale. Glenngary Glen Ross has an amazing scene in the beginning of the movie where Alec Baldwin is addressing the sales team where is explains First Prize is a Cadillac and Second Prize is a set of steak knives. This is how most businesses gamify sales to date.
- Commission checks
- Presidents Club
- Spiffs
These are all typically based around revenue for a company and these game mechanics drive the behavior of the sales team to sell more. This is where most companies end the game process but that is about to change.
Companies like Xactly have developed an application that drives compensation management , most typically marketed to businesses that have become buried in spreadsheets trying to track sales teams and their commissions. That’s a big enough problem to tackle for companies but their application has some functionality that brings gamification to the sales teams directly. At a recent event I heard Xactly discuss how their customers base compensation and commissions on a series of behaviors that lean more ‘reward’ to the sales person if they do things such as close a deal early in the month or if they sales can close a deal within a specific time frame.
This opens up a lot doors into how companies could introduce game mechanics for sales even extending beyond revenue events.
Game On for B2B Sales
Research shows that financial rewards for gamers is only one incentive and not even the primary factor that people play games. We saw this internally at InsideView when we wanted to drive social media adoption by the company. The only game mechanic we had to put in place was a monthly email that highlighted to most active employees on Twitter. The internal competition to be in First Place drove up the number of updates from employees 312%.
Sales teams could, and I think should be incentivised for a number of activities outside of just revenue generation. True, the primary responsibility for sales teams is to close deals but within that process of selling there are a number of activities or tasks that can be measured and applied with game mechanics to drive even more productivity. Image a sales team that saw their work as a game and wanted to unlock as many achievements as possible to be recognized publicly and financially?
I hear more and more companies trying to add a layer of gamification to their sales processes. There are several ways to do this and the achievements and metrics are different depending on each companies desired goals.
- Number of calls
- New opportunities created
- Engagement on social media
- Discussions created in company communities
- Leads generated by online/personal social activities.
The list can go on forever. The truth is that they are almost limitless and all drive business metrics across different departments.
Is your company thinking of implementing gamification to sales or have any game mechanics that have been working so far?
