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Assessing the ROI of Social Selling MICHAEL IDINOPULOS, PEOPLELINX CMO
@thuelmadsen @Kissmetrics #KissWebinar
THUE MADSEN MICHAEL IDINOPULOS Marketing Operations Manager, Kissmetrics CMO, PeopleLinx @ThueLMadsen @michaelido Thue is the Kissmetrics Webinar Wizard and Marketing Ops Manager. Before joining forces with Kissmetrics, he was a Lyft driver in SF, which is also how he ended up as a KISSmetrics marketer. Whenever Thue is not trying to automate everything around him, you can find him hiking in the Sierras. Michael is currently CMO at PeopleLinx. He previously served as Chief Customer Officer at Socialtext, bringing the first social software inside corporate, nonprofit, and government organizations. Michael holds a Ph.D. in philosophy from U.C. Berkeley and currently lives in Philadelphia with his wife and three children.
@michaelido @peoplelinx #KissWebinar
TABLE OF CONTENTS 1 Why Social Selling? 2 Measuring the ROI Employee Advocacy Prospecting Deal Nurturing 3 Section Three – The Change Journey
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B2B BUYERS ARE CHANGING HARDER TO REACH 8 Calls required to reach a buyer (up from 3.7 in 2007). CONSENSUS-DRIVEN 5.4 Decision-makers participate in an average enterprise purchase. SELF-EDUCATING 60% Of buyers’ decision is already made before speaking with a sales rep. USING SOCIAL 84% Of B2B executives use social media to research buying decisions. Sources: Corporate Executive Board, Telenet, Ovation Sales Group
SOCIAL SELLING IS CRITICAL TO EARLY ENGAGEMENT 14 Improvement Probability of becoming a Top Performer 12 10 8 6 12.81 11.57 10 4 6.2 2 0 Conducts Non Traditional Personally Owns Lead Customer Due Dilligence Generation Leads With Insight Uses Social Media as a Critical Channel Sources: Corporate Executive Board
PUNDITS SAY IT’S AWESOME “ 78% of salespeople using social media outsell their peers. MARK FIDELMAN Forbes
Will you see similar results?
MEASURE FOR YOURSELF
SOCIAL SELLING INDEX (SSI)
SOCIAL IS JUST A CHANNEL
THE CHANNEL SUPPORTS THREE SALES ACTIONS Awareness Employee Advocacy Lead Generation Qualification Opportunity Upsell Referral Prospecting Deal Nurturing
EMPLOYEE ADVOCACY METRICS: CLICKS, FORM-FILLS
SOCIAL PROSPECTING METRICS: MEETINGS, OPPORTUNITIES
NURTURE METRICS: WIN RATES, CYCLE TIMES
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CRM CAN REPORT THIS…
WHEN SOCIAL ACTIONS ARE ASSOCIATED WITH OUTCOMES Employee Advocacy Share tracker URLs on social (More segmented = more info) Prospecting Capture “Social” as Lead Source & Opportunity Source in CRM Deal Nurturing Capture social gestures in activity history (hard to do manually)
WHICH WAY DOES THE CAUSAL ARROW POINT?
WHAT SUCCESS LOOKS LIKE $1-2 CPC 30-40% of form-fill conversions contributed by social 3-4x increase in outbound yield v. cold-calling 10-20% increase in win rate 20-30% acceleration in cycle times
THREE THINGS YOU CAN DO RIGHT NOW Give employees unique tracker URLs for social sharing Add “Social” to lead/deal source Capture success stories
REPS NEED HELP Sources: PeopleLinx The State of Social Selling – 2015
EMPLOYERS AREN’T HELPING Encourage use of social selling Train employees on social selling Measure Results of social selling
EMPLOYER SUPPORT MAKES A BIG DIFFERENCE
SOCIAL SELLING MATURITY MODEL (SSMM) Optimization Integration Training Policy Increase to 7-8% 1-2% (No Change to Lift) Random Acts of Social 1-2% Sales Lift Increase to Increase to 10-15% 15-20%
Questions? THUE MADSEN MICHAEL IDINOPULOS Marketing Operations Manager, Kissmetrics CMO, PeopleLinx @thuelmadsen @michaelido