Sales 2.0

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Use Your Connections to Sell: How are you connected to Kevin Bacon?

March 30, 2012 in Sales Data, Sales Intelligence, Social Selling by Kevin Baldacci | No comments

Can you imagine the power of a sales professional who had the ability to see his network and fully utilize it with his sales cycle? Sales intelligence platforms have this ability…

The other day I was working in InsideView and landed on the company page of IBM. Through this sales intelligence platform, I am able to see all of the connections I have in the organization.  Specifically, I had connections to 175 people including 13 Vice Presidents and a couple Board Members. (Screenshot to the right)

Through LinkedIn connections, Facebook friends, fellow college alumni and professional relationships, InsideView is able to identify who YOU are connected to in companies across the board.

One of the concepts that had my mind racing was the degrees of separation – specifically the 6 Degrees of Separation… and Kevin Bacon.

The 6 Degrees of Separation…and Kevin Bacon

The 6 degrees of separation refers to the idea that everyone is on average approximately six steps away, by way of introduction, from any other person on Earth. When I refer to the 6 Degrees of Kevin Bacon, it is the assumption that any individual involved in the Hollywood film industry can be linked through his or her film roles to Kevin Bacon within six steps. However, today’s social boom has brought us all closer than we had previously imagined…

In November 2011, Facebook’s data team released two papers which documented that amongst all Facebook users at the time of research (721 million users with 69 billion friendship links) there is an average distance of 4.74 degrees of separation.

Social networks have blown the phrase “it’s a small world” out of the water. A sales professional who understands and utilizes this concept in his/her sales cycle is destined for greatness.

Imagine a sales professional who had the power to fully utilize his connections…

In order to paint this picture of connections within a sales intelligence platform such as InsideView, I created a fictional connections page of people within my network that know Kevin Bacon. Let’s be creative and pretend Kevin Bacon is the Senior Vice President of Enterprise Sales at a computer hardware company we’ll call Pegasus Technologies. Below is a screenshot of InsideView if was to have connections to Kevin Bacon. [Click the image below to enlarge]

Imagine YOU are trying to sell InsideView to Kevin Bacon…

Tom Benedict is a reference account and a Sales manager at Deere Marketing Group and both of you used to work at Vicar Technologies together. Vicar is a small, online payroll services company so chances are they probably knew each other at one point or know people within the company.

Koka Sexton works with you at InsideView and attended Faber College (if you don’t know where Faber College is try watching Animal House again…). Kevin is older than Koka by a few years so they didn’t attend Faber together but Koka always has some kind of a Faber paraphernalia around his desk.

Selling to Kevin Bacon

Now let’s conjure up a couple of emails if you were to reach out to Kevin Bacon using connections to him at Pegasus Technologies…

Since this a very unique story I went to the sales bullpen and brought in John Barrows, Co-Owner & Managing Partner at Kensei Partners – Sales Execution & Results. I emailed John this scenario who graciously obliged to helping me write Mr. Bacon a couple of emails:

An email to Kevin using the connection: Koka Sexton

Subject: Your Faber connections

Kevin,

There’s a group of Faber grads here at InsideView who rave about their time at school and how it set them on their paths for success. It looks like Faber had a similar impact on you based on your success. Connections like these make a difference when trying to break through the noise and get people’s attention. InsideView makes these connections and can give your reps the tools they need to find and close more business.

What’s the best way to get 15 minutes on your calendar to talk about how your team can leverage all their connections?

-John

An email to Kevin using the connection: Tom Benedict

Subject: Your time at Vicar Technologies

Kevin,

I noticed you used to work at Vicar Technologies around the same time as one of my friends, Tom Benedict. He told me about how great the product was but how it never got off the ground because their sales team didn’t have the tools to succeed.

We give VP’s of Sales and their reps the tools they need to leverage their connections and gain access to high level contacts in their target market so they can drive more business. 

What’s the best way to get 15 minutes on your calendar?

-John

In Conclusion…

John did a phenomenal job crafting an email based around the connections to Kevin Bacon. Using Koka and Tom’s connection to Kevin, he was able to effectively and personally reach out.

Smart Connections technology finds relationships through your colleagues, your previous employers, and your existing customers.

It is important to utilize all of your connections, specifically, by using technology such as sales intelligence. Social networking has brought people together from all over the world closer than ever before. Again, there is an average distance of 4.74 degrees of separation. As a sales professional, you need to be out there creating relationships and utilizing them to make it through the door. Sales intelligence is the tool to identify these crucial, professional relationships and build off of them.

About John Barrows

John Barrows is Co-Owner & Managing Partner at Kensei Partners, a sales training/consulting firm focused on execution and driving immediate results. With over 15 years of experience in various sales, executive and training roles John has established himself as a prominent trainer and consultant for companies like Salesforce.com, HP, NCR and many others around the world. Read more about his background here: http://www.linkedin.com/in/johnbarrows

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Do You Treat Your Sales Teams Like The Hunger Games?

March 26, 2012 in Sales 2.0, Sales Intelligence, Social Media for Sales, Social Selling by Koka Sexton | 4 comments

Professional Hunger Games - Fighting

The Hunger Games is the #1 movie in US box offices with $155 Million dollars. I haven’t seen the movie but I have read the book and I couldn’t help but think about how the Hunger Games can be applied to business environments. No one should expect camouflage training a cornucopia of weapons and supplies when they start their job but their should be some training and  tools provided.

The Hunger Games in Sales

The mentality of hiring a bunch of sales people and leaving it to them to sink or swim is barbaric. Your company will not benefit in the long run if that’s how you approach driving revenue. There are career sales people (Tributes) that have been trained for years that you will have to go up against and to compete, you need training. Great sales leaders understand that in order to build a winning sales team you need to invest in them and teach them everything there is to know. Not just about the product or service but advanced selling skills that give them an edge over the rest of the sales people they are in competition with. Even if  someone is interested in what you are offering, they are extremet busy and there is a good chance you don’t even know they are a prospect if you’re not actively listening. 70% of the buying process is happening online and in order to stay ahead, sales people need to move faster and use better tools.

One that comes to mind is training from Vorsight around how to navigate company switchboards turning the switchboard into a prospect’s direct contact info. I’ve seen them train on this on numerous occasions and I have to say that it works.  There has been a shift in the sales environment as described in this post called Sales 2.0 Redux. In the post Tom explains many of the typical sales tactics and how they have been reshaped by social media and technology.

Being the Tribute Winner in Sales

Just like in the Hunger Games, only one person can win. Your prospect needs a solution to a problem and probably only enough budget to purchase one. Instead of being on the losing side of the deal, you need to have a starategy that will deliver some key messages and position you to have an advantage.

Leverage connections: Just like the Hunger Games, you will need sponsors. Who do you know that can provide support to you when working with the opportunity? Chances are you should have identified a champion in the organisation that can help you navigate and give you insights on what’s happening. Hopefully you have a connection that also knows your decision maker on a personal level since we know that these types of connections are very important and helpful.

Have the right tools: I don’t just mean your phone and your computer but those are important too. How can you use technology to do most of the research for you? Set up watchlists on your prospects, find them on social networks that can give you insights to what they are thinking and feeling. Leveraging social media for sales can accelerate the ordinary sales process. Sales intelligence gives you information that will keep you positioned to win.

Surprisingly there are still a large number of companies that do not leverage sales intelligence. The Aberdeen study on the Science of Sales Intelligence shows that most companies deal with some very specific business pressures that sales intelligence can help with.

  • 42% have insufficient knowledge of the business needs of prospects
  • 40% do not have the ability to identify the most likely buyers of their product
  • 34% complain of having a sales process that is too long
  • 21% See an increased customer churn forcing them to focus on filling the funnel

All of these point to companies needing to be more nimble and enabling their sales teams to move faster with more targeted information.

The Hunger Games as a concept seems to fit with a sales organization. Are you going to win?

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Microsoft Dynamics CRM and InsideView

March 24, 2012 in Conferences, Sales Intelligence, Social CRM by Koka Sexton | 1 comment

  1. Share

    Front row @ #CONV12 CRM keynote. Want to see the #insideview demo from up close :-) http://pic.twitter.com/pod47fST
    Umberto Millettiumbertom
    Mon, Mar 19 2012 11:50:37
  2. Share

    For the best experience with InsideView please use a monitor this big: #conv12 http://pic.twitter.com/sHFnLDph
    InsideViewinsideview
    Mon, Mar 19 2012 12:52:39
  3. “The integration of InsideView with Microsoft Dynamics CRM is the result of the two companies’ focus on reimagining CRM to create a fantastic and productive experience by providing useful, actionable insights about customers and prospects to sales professionals,” said Dennis Michalis, General Manager, Microsoft   Dynamics CRM. “Social CRM is changing the way our customers succeed.  InsideView has a unique and powerful solution that reveals important insights that help our users have more powerful interactions with their customers and prospects.”
  4. Share
    “
    Microsoft says it will add social customer care and free integrated InsideView access to Dynamics CRM in a release later this year.
    Bart Albrighttecmarketing
    Fri, Mar 23 2012 21:05:23
  5. Share

    Getting a sales intelligence demo from #Insideview #nlp engine drives content #scrm #CRM #CONV12 #Microsoft http://pic.twitter.com/YZBYL2y8
    R Ray Wangrwang0
    Sun, Mar 18 2012 15:33:00
  6. Share
    “
    Celebrating the @insideview’s social alliance partnership with Microsoft at the after party at Venue Houston. !!!
    Amy Underwood Arndtauarndt
    Mon, Mar 19 2012 23:48:15
  7. Share

    Houston…we have a solution! @insideview #conv12 #venuehouston http://pic.twitter.com/BnZS5xs1
    Lisa Fugerelisafromiv
    Mon, Mar 19 2012 23:21:43
  8. Share
    “
    Convergence 2012 in a (virtual) nutshell | Surviving CRM – bit.ly/GLJnO3 via @insideview #conv12 #msdyncrm #crm #scrm
    Mireille GieliansMGielians
    Sat, Mar 24 2012 16:10:05
  9. Share
    “
    Microsoft #msdyncrm invests in #InsideView, links to Activity Feeds. #conv12
    Mike Hammonsmikehammons
    Mon, Mar 19 2012 12:51:27

  10. “Microsoft Dynamics CRM delivers meaningful productivity results in terms of sales effectiveness, client relationships, sales team organization, and visibility across our teams’ activities,” said Barb Potter, Director of Marketing KnowledgeLake, a SharePoint ECM Company. ”The addition of InsideView makes Dynamics an even more comprehensive solution for us because it not only provides the full complement of CRM capabilities, but also company information, contact details, and relevant connections.  Getting all of that in a single place has made our teams more productive. The integration of InsideView with Dynamics CRM is a great step forward for both companies’ customers.”

  11. Share
    “
    I think @insideview was “inside” my thoughts during the #MSDynCRM presentation at #conv12. Can’t wait to get integration with CRM2011
    Ashley Hbigfat_toe
    Thu, Mar 22 2012 22:58:19
  12. Share
    “
    @conv12 Microsoft plans to add social customer care and free integrated InsideView access to Dynamics CRM in its later release this year.
    Rebecca Wettemannrebeccawetteman
    Mon, Mar 19 2012 11:10:46
  13. Share

    Checking out the #insideview booth #dynamics #CRM #CONV12 #SCRM http://pic.twitter.com/iMJBv1LA
    R Ray Wangrwang0
    Sun, Mar 18 2012 15:29:59
  14. Share
    “
    InsideView and LinkedIn Microsoft Dynamics CRM 2011 solutions look really good! #InsideView #Conv12 #LinkedIn #Microsoft
    DrSalonenDrSalonen
    Mon, Mar 19 2012 15:50:23
  15. Share
    “
    News from #CONV12 Congratulations to #insideview for officially becoming a part of the Microsoft Social CRM solution.
    Kevin OakesKevinOakesNav
    Mon, Mar 19 2012 14:03:10

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It Might Be Time for Sales Intelligence – 5 Signs That You Need It

March 8, 2012 in Sales 2.0, Sales Intelligence, Social Selling by Kevin Baldacci | 4 comments

“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.” -Umberto Miletti, CEO of InsideView

1. You are buying lists for your sales team

Last year I was interviewing for a sales position and was analyzed by how well I could cold call a list of 100 low-priority prospects. This would have been fine and dandy if the list wasn’t a year old and 20 of the 100 people had the wrong name or outdated phone number. Think about it…after one year, 1/5 of the list was deemed almost completely useless.

Organizations are changing the way they collect information and contact prospects and customers - 98 percent say they waste their budget each year on inaccurate contact data. (DataMyth.com) With data being poured into in the Internet everyday, there is no way lists of contact information should be cutting it anymore for sales professionals.

The age of lists and phonebooks are over for sales teams. The tools you need are out there on the Internet and sales intelligence can bring it to you all in one package. 

2. Social Selling is not a part of your sales cycle

Marketing should not be the only department interacting through social media – sales teams across the board need to immerse themselves in the social world as well. Buyers are turning to social media for feedback and answers to business challenges. Don’t wait for your phone to ring, generate opportunities by reaching out and answering questions or at least let them know you’re listening.

One of InsideView’s sales representatives sent this tweet the other day:

I know many people are thinking, “So what? It’s just a tweet. And great, they responded.” However, Megan is now on Xata Nation’s radar – they know she is out there listening to their success.

As Koka Sexton likes to say during a lot of his speaking engagements: Be different, Be better.

Potential prospects are on social media asking questions and seeking answers. You need to be out there answering these questions or showing your prospects that you are listening – otherwise your competitors will. Sales intelligence packages social media with contact information so that you are able to sell to the person rather than the business card.

3. You are spending half of your day researching prospects – “I can use search engines to do my research.” 

As a salesperson, you should never be pushing the clock researching prospects or not devoting your fullest efforts to effectively finding the right people prospects. Time is precious in the world of sales but you should never feel overwhelmed by it.

Do you really want to search for a company and get this kind of result?

751,000 is a little dramatic but I think you get the picture. Search engines are great for research but they eat up a lot of time. More than 50% of the average sales professional spends 1/4 of their day researching potential prospects. (Aberdeen)

Consider leveraging technology and sales intelligence so you can cut that amount of time in half and free up some of that precious time to be talking to prospects and customers. If InsideView were to create a contact page for Darth Vader, this is what it would look like. Imagine the sales force you would have selling to a guy like Anakin Skywalker…

4. You are shooting from the hip and not using trigger events

Identifying key triggers or reasons to get in touch with prospects at just the right time is extremely valuable. Barbara Giamanco, EVP Sales and Social Media at Social Centered Selling, wisely pointed out in a recent webinar of ours that timing is everything in sales.

Look at it this way…Give somebody a tissue in the street randomly and they’ll think you might have lost your mind. Give them a tissue after they sneeze and they’ll probably be more inclined to thank you and strike up a conversation.

Sales Intelligence brings you Watchlists that alert your sales representatives of trigger events (leadership changes, mergers, executives in the news, etc.). Imagine the effectiveness of your sales team with trigger events being delivered to each representative on a daily basis.

5. You are not hitting your sales marks

Sales intelligence is heading in the direction of changing the sales cycle forever. Remember how sales was done only a decade ago? Lists of phone numbers, cold calling, mail marketing, dialing for dollars. With today’s social revolution, you now have more weapons at your disposal as a sales professional than ever before. Sales intelligence brings you contact information as well as connections, sales alerts, social platforms and a lot more. Empower yourself with this tool and don’t be left behind.

Check out this graph below. The Best-in-Class companies utilize sales intelligence and see numbers like 28.4% average year-over-year increase in total company revenue.

To see the rest of the incredible results the Aberdeen Group found about sales intelligence, download our whitepaper: Chance Favors the Prepared Mind: Understanding the Science of Sales Intelligence

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4 Steps on How Focusing on People, Not Contacts Will Increase Your Revenue

February 23, 2012 in Sales Intelligence, Social Media for Sales, Social Media Tips, Social Selling, Software Tools, Technology by Kevin Baldacci | 5 comments

Do you really have a good understanding of a potential prospect with just his or her contact information? Looking at our friend, Anakin Skywalker, it is clear that there is more to a person than what you see on a business card. The sales professionals who are making it in your industry are the ones leveraging unique people insights gleaned from social media and other resources to reach the right person, with the right message, at the right time.  Click on Anakin’s business card to see what I mean. Here are some steps that are sure to increase revenue by focusing on the person rather than the contact.

1. Shift the mindset from a contact to a person

Do you sometimes feel like your contact information is being passed around between companies, being abused and reused? How many cold calls and unsolicited emails do you receive each day? (And how likely are you to respond to them?) Your prospects are feeling that same pain. 

People are not putting their information online because it is a “trend” or “everyone is doing it”. People are looking to be acknowledged as individuals – the desire to be acknowledged is human nature. As a sales professional, you need to be utilizing social media to its fullest potential to get your emails and phone calls (even your prospecting tweets) to stand above the hundreds of others.

Check out the difference between the red and blue mock notes to a potential prospect. 

 Which email are you more likely to respond to? Ditch the scripts and start digging around LinkedIn, Twitter, and Facebook to add some personality behind your initial emails and phone calls.

“Remember that trust and credibility are key to lead generation. Nothing improves a sales pitch more than incorporating commonalities and shared experiences.”
- Maria Pergolino; Senior Director of Marketing, Marketo

2. Integrate the people approach across the organization

Marketing should not be the only department interacting through social media – sales teams across the board need to immerse themselves in the social world as well. Buyers are turning to social media for feedback and answers to business challenges.

A recent study of more than 700 B2b marketers, conducted by Wildfire Interactive, found that 58% of the companies saw increases in sales and partnerships as a result of including social media as part of their overall strategy.

Potential prospects are online asking questions and seeking answers. Your sales representatives need to be out there answering these questions, otherwise your competitors will.

3. Avoid social silos

Many B2B firms are mistaking the individual social activity of their employees for a social strategy. Your organization needs to unite under a set of common goals and develop a cohesive strategy that fits the company’s social graph. A company with a sales team united and active in the social world is a powerful unit. Your customers are talking online, asking questions about your business – develop a strategy within your team to make a united, cohesive effort to seek out and lend a helping hand. Companies cannot do this relying on individual sales reps who can only cover a fraction of your industry’s social graph.

4. Reach the right people at the right time

As a sales professional, it is hard to not put your head down and go 100 mph trying to make those sales marks. However, you have to realize there is a science with sales and that it is important to reach the right person at the right time – timing is everything when making that initial call. How exactly is that accomplished?

“After implementing InsideView, we’ve gone from dialing for dollars to targeted social selling. Our team now spends most of their time learning about and understanding their prospects and how to best leverage relationships. As a result, our meeting acceptance rates have gone from 15% to around 60%.“ Michael Lodato; Senior VP, Sales and Marketing, NHR

Sales Intelligence is becoming one of the most powerful tools for sales teams across many industries. Through a platform such as InsideView, sales teams have the ability to receive alerts to connect with people after a major event (a.k.a. trigger event), such as an acquisition, promotion or relocation. This allows your team to effectively connect with potential prospects because there is much more value to those initial calls. Relevancy is key with today’s buyer. 

Secret Step. Use the Sales Force!

This blog post is only a minor piece of the puzzle. Download this guide: Shifting the B2B Marketing Paradigm from Contacts to People, to unleash the full power of the sales force in you.

Click HERE to download this guide to increase revenue

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