social intelligence

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I was at the opening day of the Sales 2.0 conference in San Francisco yesterday and had a great talk with Jim Keenan, you may know him as @keenan. He sent a tweet during the keynote session with his thoughts on why sales people are not embracing social media though all of the data is showing that leveraging social media for sales intelligence increases revenue.

 

I dont think he’s far off base. Sales people are developed to look for the deals they can get now and not building a pipeline that extends after a few months. For companies looking for revenue, this isnt a bad formula, you need sales to stay in business but it should be looked at with a longer telescope for real growth and social selling can help with that. Companies of all sizes are leveraging social media for marketing communication, some are even able to track revenue from it but it hasn’t scaled correctly out to the sales teams that can really make an impact.

 

The chasm is growing for sales

Keenan mentions some of this in his blog post The growing chasm between sales person 1.0 and sales person 2.0.

This post speaks directly to the content of the conference and his tweet about the adoption of social selling. The game is changed and companies need to figure it out. The ability to leverage technology to identify prospects and retain customers is not something magical, it’s as shift in how people want to do business with others. I’m not saying that phone calls and emails are dead, I’m saying that relevant conversations that turn contacts in your CRM into people you can connect with should be the directive, not the hope of a sales organization. Besides the traditional sales methods you are following and measuring, new metrics should be placed on how engaged your sales people are with tir prospects and customers.

As the chasm grows, more adaptive sales people are moving forward at a faster pace than their competitors that have not learned how to leverage sales intelligence. Knowing that a growing number of CxO or other executives are too busy to take calls and reply to email campaigns, the smart sales people are learning how to connect and engage with people in social networks that these people are spending their time in. Even if the sales person isn’t willing to communicate with their prospects in the social space, they can listen to their conversations to get a better understanding of WHO they are and form a better plan of how and what to communicate with them.

Companies that train their sales teams to think more long term when it comes to lead generation and customer retainment will reap larger rewards. A blog that a sales person writes today can generate leads for the next few years if written well. We heard during the keynote of the Sales 2.0 conference that there are sales managers that require their sales teams to blog on a reglar basis for this exact reason. Take this down to an individual sales rep level and you can see that what they post online in an answers forum or social network today can be seen by people trying to solve simular problems for a long time. This will drive relevant people to you as a sales person and it can be acted on to generate new business and be measured.

 

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  1. Share

    Front row @ #CONV12 CRM keynote. Want to see the #insideview demo from up close :-) http://pic.twitter.com/pod47fST
    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
    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.
    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
    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. !!!
    Mon, Mar 19 2012 23:48:15
  7. Share

    Houston…we have a solution! @insideview #conv12 #venuehouston http://pic.twitter.com/BnZS5xs1
    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
    Sat, Mar 24 2012 16:10:05
  9. Share
    Microsoft #msdyncrm invests in #InsideView, links to Activity Feeds. #conv12
    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
    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.
    Mon, Mar 19 2012 11:10:46
  13. Share

    Checking out the #insideview booth #dynamics #CRM #CONV12 #SCRM http://pic.twitter.com/iMJBv1LA
    Sun, Mar 18 2012 15:29:59
  14. Share
    InsideView and LinkedIn Microsoft Dynamics CRM 2011 solutions look really good! #InsideView #Conv12 #LinkedIn #Microsoft
    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.
    Mon, Mar 19 2012 14:03:10

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The Insider Summit, the recently-announced alliance with Microsoft, the state-of-the-art features added every 3 weeks – everyone is clamoring to know: What can InsideView do for my sales team??

Recently, sales intelligence has become one of the hottest trends in technology. InsideView analyzes data from social media, news, and company sources and alerts sales professionals when opportunities for relevant engagement arise. In plain text, it empowers you and your sales team with the intelligence you need to reach out and sell to prospects.

In light of all of the questions and curiosity about sales intelligence, we have created an overview video of all of the features you need to know. Watch the video and imagine the power you could have with this tool.

If you’re wondering about the inside edge you could have with InsideView, check out our Community to ask questions and learn more about all of our features.

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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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Selling tips - sell to people not contacts

Selling to people has not changed dramatically over the past hundred years. You have a product or service, identify a pool of prospects and then discover how many of them you can help. Sure thats over simplified but when it boils down, those are some of the key components. What has changed a great idea over the past few years is not so much the overall process but the details of how to sell to people.

Most sales people do not have the opportunity to walk into the offices of their prospects, see the awards on the wall, photos on the desk and bag of golf clubs in the corner. These were the details a salesperson would use to break the ice, find some common interests and start a conversation. Without these insights, a salesperson is left to their own devices and would be left with being just another sales guy with a pitch. Get beyond the contact data of someones business card and get to know your prospect as the person and not just a contact in your CRM.

People buy from people. Business is done not necessarily with the company with the best product but more often with the salesperson who has found a connection with their prospect through a shared interest or a referral. In the post on the 8 ways to increase sales we outlined some best practices to follow.

More than 90 percent of executives never respond to cold-call sales or unsolicited emails.

Sales intelligence can identify connections between colleagues within an organization and prospects to reveal opportunities for meaningful sales contact. By arming sales professionals with actionable information from social sources, media outlets, company information and changes in business dynamics they are more likely to trigger sales. Sales professionals can quickly identify relevant connection points and build profitable, trusted relationships with prospects and customers that win more business and drive revenue.

‘It’s like watching an Ancestry.com commercial’

You’ve seen the commercial, a site that starts connecting the dots between you and your family and then builds a map of your entire family tree. It lets you see your connections to people you may never have known existed just by following the trail of connections through out history.

How can that apply to B2B sales?

  • What if you could identify connection across multiple social graphs and include people you may not be connected to through a social network?
  • How valuable would it be to have social streams from your prospects so you could see the updates, pictures and interactions they share?
  • Would it be beneficial to be able to follow these people so anytime they were mentioned in the news or online you would get an alert so you could show you are listening?

Early adopters of People Insights like Network Hardware Resale are already seeing an impact in lead generation, opportunities and revenue.

“Social media mapping is my favorite feature. It’s just so cool. It’s almost like watching that Ancestry.com commercial- it’s like ‘I got a leaf!’ It’s when you find that connection that absolutely breaks you into an account; and once you’ve done that, your energy in looking for more of those connections goes WAY up. That becomes your best lead gen strategy ever. Now you want to have and create personal relationships with people through social media so that you can leverage those relationships.” - Michael Lodato, Senior Vice President, Sales and Marketing at NHR

Leveraging people insights isn’t just a good idea, it’s the only way you will increase your lead generation and create new opportunities in 2012. As explained in the post 5 ways sales intelligence can increase revenue, research shows that:

  • 59% of the best in class companies have leveraged sales intelligence tools to identify or disqualify prospects with more accuracy
  • 53% of companies have been able to identify existing customers that have upsell/cross sell opportunities
  • 48% of companies have increased the quality of leads intheir pipelines
  • 28% use technology to capture and share sales knowledge internally.
  • 21% of companies reduce the amount of time doing sales research

For salespeople and sales leaders, understanding how to sell to people not contacts will be the difference between hitting or missing your number.

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