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Sales 2.0

Sales 2.0. " Inform me, ask me questions, but don't sell me” Sunil Maulik sma@innovationcenterdenmark.com. Leverage Social Networks. Utilize trust-based networks (LinkedIn, Twitter, Facebook, etc.) Engage in conversations (Groups, Streams, Blogs)

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Sales 2.0

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  1. Sales 2.0 "Inform me, ask me questions, but don't sell me” Sunil Maulik sma@innovationcenterdenmark.com

  2. Leverage Social Networks Utilize trust-based networks (LinkedIn, Twitter, Facebook, etc.) Engage in conversations (Groups, Streams, Blogs) Enable customers to market your product or service (Comments, Tweets, Links)

  3. Profile clients better Understand the client organization in detail (LinkedIn profiles, Crunchbase, etc.) Understand the key decision-makers’ needs and motivations (monitor their Twitter streams& online publications). Seek the appropriate resources from within the organization (Salesforce.com, Yammer)

  4. Connect with clients Use trust-based recommendations Have clients come to you (follow blogs, Twitter streams, etc.) Send out useful links, documents to targeted audiences Participate in groups and contribute meaningfully to discussions

  5. Generate “peer-to-peer” leads Participate in the same forums as clients Organize online groups and invite clients Be seen as an active contributor Have clients see you as a trusted advisor Rank leads based on the strength of your relationships with prospective accounts.

  6. Lead Prospecting If a sales rep has a connection to an account, there is a five times better chance that their call will be returned. 100 people cold-calling vs. 20 people leveraging their networksgets the same number of call-backs. If conversion rates stay the same, the additional opportunitiescreated result in a 243% increase in sales productivity.

  7. Use social media statistics • Use Kloutscore, number of tweets, etc. as metric for marketing influence • Other metrics for influence: • Retweets • Likes • Views • Web-site stats (Google Analytics), etc. • Profile both you and the customer!

  8. Remote sales calls Use webinars, virtual white-boards to replace sales calls Replace brochures with web-links, downloadable white-paper PDFs Replace contracts with clickable EULAs (End User License Agreements)

  9. Transform Internal Sales into Client Intelligence Replace cold-calls/emails with newsletters Replace inbound marketing with online monitoring Obtain and share valuable information with clients, not just internally Clients reward quantitative improvements in their success

  10. New Communication Tools • Clients respond to emotions & stories: • Prezzie or YouTube rather than PowerPoint • Online animations that tell stories • Examples of clients discussing applications • Videos and blogs are replacing graphics and web-sites

  11. Ongoing Sales Coaching Use Yammer and other chat tools to communicate with sales in real-time Use CRM tools to motivate and monitor performance Set up monthly sales “book-clubs” rather than yearly “sales meetings” Set up weekly reviews of online training videos, blogs, to keep teams motivated

  12. Coaching 2.0 Understand the “cognitive complexity” of today’s sales process Sales skills: What to teach Motivation: How to teach Cognitive coaching: How to change

  13. Cognitive Coaching Analytics • Conventional Coaching targets thepre-frontal complex (conscious, analytical decision-making): • Quotas, Performance, Results • Cognitive Coaching targets the limbic system: • Feelings, Impulses, Drives • Requires knowledge of rep & actual behavior: • utilize real-time feedback to encourage behavior-change

  14. Effective CRM Provides business insight (dashboards, analytics, trends) Spots new revenue opportunities (identify qualified leads; target opportunities for upselling) Inspires team to be productive (gamification; social; sharing etc.) Transforms enterprise into a customer-centric organization (everyone understands the customer) Enables workflows that drive revenue (contract negotiations, renewals, license agreements, etc.)

  15. CRM 2.0 Tailor CRM to include "social" information such as: Communication style (amiable, expressive, analytical, etc.) Communication preference (phone, email, Skype, Twitter, SMS, etc.) Decision-making characteristics (white-papers, comparisons, references, etc.) Sentiment analysis (frustrated with current system; needs to reduce costs; etc.)

  16. Social CRM Data Analytics • Social CRM Data: • Sentiment • Conversation • Hobbies • Groups • Engagement • Activity • Advocacy • Loyalty Traditional CRM Data: Contact Member Activities Products Financial Operations Service Competition Marketing Relationships

  17. Social CRM Tools InsightView Data.com Rypple Discover.org DocuSign Box.net Eloqua Full Circle CRM HoopLa Reachable SilverPop Genius.com

  18. Sales Gamification • Effective sales people are "happy losers" - they lose a lot but win a lot*. They are: • Resilient • Enjoy funactivities • Expect the organization to support them • Enjoy recognition, competition, and measurement • Provide them with: • Leaderboards for top performing sales reps • Pipeline and forecasts showing up in CRM daily • Team and individual incentives *Harvard Business School profile, 2009

  19. Summary Social Sales (Sales 2.0) requires: Listening:getting real-time feedback (not just surveys) Thinking:using fact-based analytics (big data) Empowering: allowing people to do the right thing for the customer Creating: innovating new ideas and offering them to the customers Delighting: surprising the customer by surpassing expectations Top performing sales organizations have Leaders who are addicted to their customers

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