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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.
Sales 2.0 is the bread and butter of what we do here at InsideView. Essentially, we want salespeople to incorporate sales intelligence into the new generation of sales where social selling comes into play. Unfortunately, this methodology of sales 2.0 is skewed in various definitions and discussions of its effectiveness. As a result, I have had the privlidge of gathering 15 great sales 2.0 posts that provide some solid definitions, rich in content.
- Sales Tip: The Social Graph is Your Friend – Nigel Edelshain
- 37 Character Tweet Led to Huge Sales Opportunity – Anneke Seley
- 5 Essential Books to Understand B2B Sales 2.0 – Katie Byrnes
- 7 Forward Thinking Presentations You May Have Missed – Chad Levitt
- Sales Success Strategies for a Social World – Gerhard Gschwandtner
- What the Heck is Sales 2.0 (& Why Should I Care) – Pamela Seiple
- 40 Great Social Media Infographics for B2B - Koka Sexton
- Sales 2.0: Is Hunter vs. Farmer Theory Outdated? – Claire Moore
- How to Shorten Your Revenue Cycle – Andrew Hunt
- 10 fresh Ideas on Sales 2.0 And Sales Process – Marci Reynolds
- Productivity on Steroids (Podcast) – John Cousineau
- Lead Scoring is 878% More Effective Than Cold Calling – Paul Rafferty
- What is Sales 2.0 (And Why You Should Care) – Padalog
- Statistics Show the Business Case for Sales Enablement - Paul Krajewski
- Sales 2.0 The Impact on Selling and Sales Process – Tony Cole
Dreamforce 2011 was an amazing event. With over 40,000 registered attendees, this marked a new milestone for Salesforce’s annual conference in San Francisco. We had an excellent time meeting with our customers that have InsideView embedded into their CRM and met a ton of new people that wanted to know more about how our application can help drive sales and marketing efforts.
After a lot of planning on our booth and theme, it all came down to the actual event and seeing if we were able to execute as well as we wanted. Turns out we did a bit better than expected. WooHoo Insiders!!
Knowing that there was going to be a focus by attendees on Radian6 getting acquired by Salesforce and the growing trend for companies trying to become more social, we stuck with a focused message around “Cutting through the noise.” One of the chief complaints I hear about social media being used by B2B companies is that listening is great but getting to the relevant conversations that can be leveraged by sales people is difficult. That’s where sales intelligence comes into the picture and has shown to increase revenue for B2B companies.
The first Keynote by Marc Benioff focused on the Social Enterprise and showed how companies from all over the world have started collaborating and engaging within social networks and Chatter. This messaging was music to our ears since we have been leading the charge with delivering social intelligence to companies for the past 5 years.
This really got people here excited because the Social Enterprise is much larger than just sharing news with people in Chatter groups. There are very few applications that people can use to gather social intelligence on companies that enable sales and marketing teams to get alerts and monitor trigger events within their accounts. Having links to a contacts social profiles are nice but when that gets compiled with relevant business events and you’re able to see how you are connected to people in ways LinkedIn can’t show, you have a powerful application that can drive revenue in any company.
Social Selling Panel
We held a session during Dreamforce around how companies can cut through the noise of social media and get very targeted intelligence on what their customers and prospects are doing. Our speakers included Umberto Milletti, InsideView; PC Christopher, Avaya Inc.; Mark Stock, Adobe Systems Inc.; Mike D’Onofrio, Concur Technologies Inc.
Social media is changing how customers interact with enterprises and how they buy. At the same time, customers’ social media conversations with peers are creating “big data.” For sales reps, making sense of all this data is overwhelming. The session showed how winning sales organizations are increasing their performance and gaining an edge on their competitors by harnessing big data and using changing customer behavior to their advantage. Each of the speakers gave real world examples of how they leverage sales intelligence to grow their pipelines and close more deals.
The Metallica Axe
We launched a mini-Dreamforce campaign around Metallica who was playing at the Global Gala. That all came about when we heard the first rumor/leak that Metallica was going to be playing at the event. We searched all over and found the most awesome giveaway possible. An autographed Metallica guitar. Then we spun up a Twitter profile for the @metallica_axe and started building the buzz. The Metallica guitar giveaway was so successful that we had people coming to our booth wondering how we worked out a deal with Dreamforce to have this as the giveaway. There was no deal, we just wanted to give away the most amazing prize during the event.
We wanted to focus on the people around Dreamforce so we identified some of the top influencers and built a presentation to showcase them.
The autographed Metallica guitar was such a hit that Marc Benioff sent us a message when there were problems getting into the concert.
The Winner of the Guitar
The winner was pulled from about 1000 names. Rebecca D. or SFDC_Nerd as she is known on Twitter was the lucky lady who walked away with the prize. After a bit of back and forth with Jetblue, Rebecca and the guitar were given VIP passes back to Boston where the axe will be cherished.
Conclusion
Dreamforce 2011 was a great event. One of the largest events we attend every year. Getting to meet so many customers and talk to people wanting help with sales enablement is a wonderful experience. Now we just have to start thinking abut how we are going to out-do ourselves next year.
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?
This is the first mentions of Salesforce having Metallica as their featured performer at their annual Dreamforce 2011. Metallica known for songs like The Unforgiven, Master of Puppets, Fade to Black. I was skeptical about the news but the profile is owned by a Salesforce.com sales rep. Sure it could just be a rumor but coming from someone within the company adds some credibility to the update I would think.
There has been no official statement from the Salesforce or Dreamforce team on this news but I would suspect that will happen soon. They need to get on that before the entire world knows Metallica will be attending their massive conference before they say anything. It’s also really nice that Shakeel is willing to give out some passes. I’m sure he’s going to be the popular guy within the #DF11 group if that’s the case.
Twitter has been spreading the news about Metallica fairly quickly and most people are excited at the news. Are you more or less excited about Dreamforce now?
Update: Marcus Nelson the head of social media for the company passed along this reply to my request. hmmm…. I didn’t hear a “NOT True” in there. I bet we hear something by the end of the day.
Salesforce has officially responded which makes me think Metallica IS going to be the performer. Why else would they @metallica (hence getting their attention) if they were not planning on signing them or already have. Again. Still all rumor but this is all adding up to a Heavy Metal Dreamforce.
Thank you Marc for confirming the news!
Salesforce.com shakes the SaaS world again with this morning’s announcement that they have acquired social monitoring company Radian6 for $326 Million. This is the first example of a CRM company making a definitive move into the Social Monitoring space.
Radian6 works with clients like Dell, GE, Kodak and UPS to help monitor, analyze and engage in ‘hundreds of millions’ of social media conversations. Salesforce argues that the acquisition of the company will enable it to enhance all of its products, including Sales Cloud, Service Cloud, Chatter and Force.com.
This is a proof point to the changing business environment we live in and why Social Selling is going to be the next evolution of a sales environment. I think that we are still a little ways off from a sales team being able to leverage a social monitoring tool like Radian6 but it will happen and leveraging social media and having a sales intelligence tool combined would make most sales teams light years ahead of their competition.
With Radian6, salesforce.com is gaining the technology and market leader in social media monitoring. We see this as a huge opportunity. Not only will this acquisition accelerate our growth, it will extend the value of all of our offerings. – Marc Benioff
It’s encouraging to see a major CRM vendor like Salesforce investing in this. The immediate impact will be seen in support and marketing departments but getting sales people configured to use an application like this and building a social selling methodology around it could be a long while out. If you are interested in knowing about how to leverage social media for sales, sign up for the Social Selling University and get a free license of InsideView for Sales.
Finding people that you can bring into the sales funnel is easier when you can tap into their social media streams. Prospects are online everyday asking questions and looking for solutions to solve their business issues. The problem facing most sales teams is a lack of understanding on the impact social selling can have on their efforts.
Social Selling University is continuing to build a foundation of content for sales people and sales executives to explain the results that can be achieved by incorporating basic social selling strategies. The first set of webinars focus on the use of social media and how sales teams can leverage social networks to increase lead generation.
Social Selling Webinars
Your Customer Has Moved. Do You Know Where? <~~ WebEx Link
Sales and marketing approaches have been flipped upside down with the explosion of social media. What worked 3 years ago, doesn’t work now. Social media has brought with it a profound global shift in communications that favors relationships over contacts, eliminates cold calling, and puts the buyer in control of the sales process. Capitalize on some simple, but practical “how to” ideas for engaging buyers and customers in a digital economy. During this session we will discuss:
• Why bother? A look at the numbers
• Evolution of sales and how social media applies
• Benefits of social selling
• Creating value in advance of the sales opportunity
• What executives want you to know
• Building loyalty and retention
• How to use social media for lead generation
• Lead generation from current networks
Social Selling with LinkedIn and Twitter <~~ WebEx Link
When sales organizations try to leverage social media into their sales processes, they are often overwhelmed by too much information and underwhelmed by its impact on productivity.
• A quick primer on social media
• Why you need to use social media for your B2B sales organization
• How you can get started
• Tools and Techniques that you need to know
Selling to Crazy Busy People <~~ WebEx Link
Having a tough time capturing and keeping the attention of today’s stressed-out decision makers? In this webinar, you’ll learn:
•How being crazy-busy impacts your prospects’ thinking, decision making and expectations.
•Three critical mistakes that will kill your chances of setting up a meeting with a potential customer.
•The four key factors your prospects use to determine if they’ll continue the conversation with you — or not.
•Why leveraging social media is absolutely critical to your sales success today.
For a complete list of Social Selling University Webinars go here.
InsideView Launches Social Selling University to Provide Comprehensive Education for Sales Professionals, Driving Sales Productivity Through Social MediaWorld’s Top Sales Experts, Social Media Pundits Unite for Launch of First-of-Its-Kind Education Initiative
Today Social Selling University officially launches as the first program to educate sales professionals on how to leverage social media technologies and methodologies to increase sales productivity and drive revenue throughout the entire sales cycle. The first-of-its-kind program instructs sales organizations, consultants and in-house teams about selling to the modern and socially-connected customer — Customer 2.0 — and offers both an on-demand curriculum and live workshops. The program is open to all sales professionals starting today.
Social Selling University’s (SSU) actionable content and interactive learning modules have been developed by expert instructors, including experienced thought leaders, authors and analysts. Classes are designed for all levels of sales professionals, covering a broad range of topics including entry-level social media instruction on LinkedIn, Twitter and Facebook, best practices for managing personal online brands and how to accelerate the sales cycle by leveraging recent business events, social conversations and social relationships (aka “social intelligence”). The program’s instructors will provide expert advice to sales management on how to best incorporate social selling into their organizations, and educate sales professionals on how to utilize social media platforms to drive greater sales productivity.
“Social media is fundamentally changing the way sales professionals navigate the sales cycle — what worked two years ago, doesn’t work anymore because socially savvy buyers know far more about products and companies than ever before,” said Barbara Giamanco, Talent Builders CEO. “Fortunately, SSU levels the playing field by teaching sales executives, managers and reps how to interact with and sell to the modern consumer. These social sales practices breed relationships and eliminate the need for cold calling.”
Who should attend SSU?
Any sales professional — from account rep to sales team leader, director or executive — who CANNOT answer the question: “What is social selling and why does it matter to my sales organization?”
Isn’t social media for marketers? Why does social media matter to sales people?
- Social media marketing grew 50% in 2010 to $1.2 billion, and analysts predict that 2011 is the “year of social integration” for businesses. Social CRM has crested as the new and understood platform for sales and customer service.
“Salespeople who fail to leverage social media do so at their own peril. The problem is, many don’t know how,” said Jill Konrath, best-selling author of SNAP Selling and Selling to Big Companies. “Thankfully, technologies exist to allow any sales professional to gather and share relevant buyer information and achieve greater sales success. Social Selling University is a great place to start and continue learning what’s possible in the new world of social selling.”
As part of the initiative, SSU will host a Webinar series, featuring a panel of industry thought leaders to answer questions about how to use social media for sales, including:
March 3: Barbara Giamanco, founder and CEO of Talent Builders, Inc
March 8: Koka Sexton, director of Social Selling University
March 10: Jill Konrath, author of SNAP Selling and Selling to Big Companies
March 15: Patrick O’Malley, social media trainer and consultant
March 17: Nigel Edelshain, CEO of Sales 2.0
March 22: Pelin Thorogood, principal, Schulman + Thorogood Group.
March 24: Anneke Seley, CEO and founder of Phone Works and coauthor of Sales 2.0
March 29: Dan Schawbel, managing partner of Millennial Branding, LLC
March 31: Tibor Shanto, principal, Renbor Sales Solutions
On March 8, SSU will host a live, complimentary workshop following the Sales 2.0 Conference in San Francisco, where industry thought leaders will discuss the best practices for leveraging social media to increase sales team performance. Visit SSU’s registration page for more information about the agenda, speakers or sign-up information.
“Social media has completely changed the world of selling, and if you and your organization want to stay relevant, then you need to learn how to use these tools before your competitors,” said Dan Schawbel, the author of the number one international bestselling book, Me 2.0: 4 Steps to Building Your Future. ”Social Selling University is the first program to teach salespeople how to use Facebook, Twitter and other social tools to generate ready-to-buy leads and build relationships with customers that result in long-term business growth.”
About Social Selling University
Social Selling University is the world’s first initiative dedicated to teaching the sales profession how to put social media to work within their sales processes and organizations for greater productivity and revenue, through online instruction and in-person workshops. SSU staff includes dozens of the leading experts in social media, sales and Social CRM, and provides courses made specifically for executives, managers and representatives. Founded in 2011 by InsideView, SSU is the leading source of education about using the social Web to increase sales productivity through social intelligence. For more information, visit www.socialsellingu.com.
If you are an Inside Sales professional or a sales leader, you should already know about the AA-ISP Inside Sales Leadership Summit 2011. This event will feature over 30 of the nation’s leading Inside Sales experts who will deliver presentations and discussions focused on the issues most critical to today’s Inside Sales Leaders and Managers.
As the only conference dedicated exclusively to the “front lines” of Inside Sales, this event will bring together Inside Sales Professionals to learn, share, and network. Inside Sales 2011 will deliver informative, thought-provoking presentations designed to help Inside Sales individuals, teams, and organizations.
This one day conference will include a variety of general sessions, interactive break-out sessions, and lively panel discussions featuring some of the nation’s leading Inside Sales experts. Focus will be on addressing issues critical to the success of today’s Inside Sales Professionals while providing key sales tactics and techniques. In addition, the Solution Provider Exhibit will offer attendees the opportunity to meet with leading inside sales vendors.
The conference will be packed full of innovative, practical ideas and best practices. Inside Sales Professionals will leave exhilarated, enthused, and armed with new knowledge, techniques, and tools designed to improve and enhance sales performance.
Umberto Milletti will be a Featured Speaker at the event along with some other great speakers like Tom Scontras of Glance Networks, Steve Richards of Vorsight Sales Training and many, many more.
Increase Inside Sales Productivity with Social Intelligence
Cold calling is changing to warm calling, as prospects are demanding more relevance from sales reps. Find out how to harness social intelligence to increase your sales productivity and accelerate sales cycles. Learn how to bring social selling into your sales organization to improve prospecting effectiveness and close rates.Time: Thursday, February 10 from 4;15 p.m – 4:45 p.m
The AA-ISP Inside Sales Leadership Summit 2011 is less than two weeks away and it’s not too late to register. InsideView will also have a booth at the event and we look forward to talking with you about our product or ways that we have maximized our sales productivity internally to double our revenue in a record breaking year.
Social media has become a defacto marketing tool for any organization, but it’s incredible how scared sales managers and teams still are of letting their sales reps join the sales 2.0 party. But the reality is, the only thing you have to fear is fear itself…oh, and not closing more and larger deals faster than ever before.
Social networks like Twitter and LinkedIn (as well as the entire blogosophere) are target-rich environments to find new opportunities and leads, and engage with prospects in a powerful and effectively intelligent new way. So what is holding companies back? Of the dozen or so objections I have heard, my conclusion is: FEAR. Fear that their sales team will not produce results, fear that the sales team will waste their time online and fear that their sales teams will do or say something online that will tarnish their brand and kill sales. The fact of the matter is, NOT letting sales professionals engage on social media is detrimental to the bottom line for the reasons below.
In addition, it always surprises me when a company pushes off any new technology based on such fear, and masks it with an excuse. Businesses that embrace innovation and new tools have a great track record of becoming leaders in their spaces. Social media is no different as it applies to sales professionals. There are very simple reasons that all of these excuses should be thrown away and sales people given a green light to social media engagement with leads and prospects.
Fact: Social selling produces results
Sirius Decisions Inc. recently said in a webinar that in most sales cycles, customers are now in control. Customers are doing 70 percent of the research online that drives the buying decisions, and then contacting a specific vendor for the purchase. The old concept of customers calling into a company to be ‘sold’ something is quickly vanishing. Since more of the buying process is happening online in discussion groups and social networks, sales people that are paying attention and, in most cases, are already a member of these networks like Twitter, will capitalize on these conversations and identify new opportunities much earlier than those without such social involvement.
Myth: Social Selling is not a time-suck
If your sales team is wasting their time online or talking to friends on the phone most of the day, stop now and reevaluate your employees. If you have talented and hard working people on your sales team, then you shouldn’t expect them to behave any different with using social media throughout the sales cycle. If your sales team is already using Twitter or other networks for personal use, they will be able to adopt a sales methodology around the same tools to produce revenue.
Myth: ‘Social Selling’ is too risky
This is an objection that comes up more often than any other, and it’s a common misunderstanding that a business can be destroyed in the matter of one status update or blog post. But, I don’t agree with this any more than I would with the idea that a poorly sent email to a customer can do the same. There was a point in time where sales people didn’t have access to email for that exact reason, but can you imagine not having email as a tool? The same will be said about social media tools in 10 years – those who embrace it will be in the drivers seat, and ultimately win out.
It all comes down to “letting go” and enabling your sales teams to be more effective. Social Selling is not fit for every sales person, but I’d bet you have a strong percentage of your sales team that would welcome the opportunity to drive opportunities through social tools in addition to traditional phone and email tactics.
This post originally appeared on Sales2.com where InsideView has regular contributions. Sales 2.0 is a site dedicated to the improvement of sales results.
