Harnessing the power of Social Media in the Buy-Sell relationship today

Transcription

1 Harnessing the power of Social Media in the Buy-Sell relationship today Presentation for Decoding the Buyer Brent Walters

2 The Old Model Salespeople and Account Managers used to be Key Information Sources for B2B Buyers.

3 Transformation The Internet + Social Networks Have Changed Buyer Behaviour Forever.

4 Buyer Shift Why Should B2B Professionals Care? Source: Corporate Executive Board (

5 Sales Mindshift What Do B2B Professionals Need To Do? Sales professionals need to capture B2B buyers attention earlier Sales professionals need to be customer-centric and provide insights that go beyond the 57% that the buyer already knows How do you achieve both of the above? Sales professionals need to participate in channels that buyers use for research, discovery, and discussion

6 Channel Dilemma Issues with Traditional Marketing Channels Performance Fatigue

7 Channel Dilemma Issues with Traditional Marketing Channels Limited Access to Senior Executives

8 Channel Dilemma Issues with Traditional Marketing Channels Limited Relationship-Building

9 B2B Opportunity The Case for Social Networks Fresh Marketing Channel (first-mover advantage) Transparent + Direct Access to Senior Decision Makers Brand building, demand generation, and lead generation can be executed simultaneously Relationships can flourish between Buyer and Seller

10 Social Selling Opportunity What Is Social Selling? Social Selling is the process of Social Marketing for Sales Enablement

11 Social Selling Opportunity What Is Social Selling? Social Selling is the process of Social Marketing for Sales Enablement. 1. Connect your brand with B2B buyers on social networks 1. Use Brand Building to grow Market Trust in your brand 1. Use Demand Generation to grow Market Need in your solution 1. Convert Market Trust + Market Need into meetings, pipeline, and revenue

12 Social Selling Opportunity Key Numbers and Statistics LinkedIn has over 300 million members globally; 65,000,000+ are in Asia Pacific Asia Pacific: 6,500,000 in Australia 1,200,000 in New Zealand 1,400,000 in Singapore 3,560,000 in Indonesia 2,635,000 in the Philippines 1,900,000 in Malaysia 28,000,000 in India 5,475,000 in China 930,000 in Hong Kong 912,000 in Korea Source: LinkedIn (July 2014)

13 Social Selling Opportunity Search Volume Trends (Keyword = LinkedIn) Source: Google Trends (14 August 2014)

14 Social Selling Opportunity Age of B2B Buyers on LinkedIn Australia New Zealand Source: Quantcast.com (14 August 2014)

15 Social Selling Opportunity Login Activity of B2B Buyers on LinkedIn Between 41% - 44% of ANZ LinkedIn Users are either Regular Visitors or Addicted Visitors Source: Quantcast.com (August 2014)

16 Social Selling Opportunity Target Audience: Chief Procurement Officer / CPO / Director Procurement 469 C-level throughout ANZ; 292 of these work for organisations > 1000 staff

17 Social Selling Opportunity Target Audience: Procurement any level 8.1k anyone with Procurement in their job title throughout ANZ; 4.8k of these work for organisations > 1000 staff

18 Social Selling Opportunity Target Audience: Chief Financial Officers / CFOs 5,731 CFOs throughout ANZ; 1,179 of these work for organisations > 1000 staff

19 Social Selling Opportunity Target Audience: Chief Information Officers / CIOs 1,467 CIOs throughout ANZ; 551 of these work for organisations > 1000 staff

20 Social Selling Opportunity Target Audience: Chief Marketing Officers / CMOs 541 LinkedIn members serve as CMOs throughout ANZ; 207 of these work for organisations > 1000 staff

21 Engaging Buyers So How Do B2B Professionals Engage Through Social Selling?

22 Social Selling Models Company-to-Person Company-to-Person is the dominant engagement model today Examples of Company-to-Person Social Selling: LinkedIn Company Page Twitter Page Google+ Page Facebook Page Corporate Blog Engagement and lead generation is often limited due to amorphous brand

23 Social Selling Models Paradigm Shift: Person-to-Person Social Networks were designed from the ground up, for Person-to- Person engagement The majority of B2B relationships and deal flow are based on Personto-Person engagement People always rely on, and buy, from other people during B2B sales engagements Therefore: Social Networks are an ideal channel for B2B

24 Social Selling Models Person-to-Person in Action

25 Google Enterprise: Social Selling Case Study

26 Case Study: Google Who is Google Enterprise? Google Products & Technology for Work Packaged up for the Enterprise: Google Apps for Business Google Maps for Business Google Search for Business Cloud Platform Key Challenge: highlighting the relevance of the Google brand for work, to Senior Executives

27 Case Study: Google Why Social Selling? Pinpoint the right decision maker Overcome list fatigue Highlight the Google brand for Enterprises Build trust => Build relationships Our DNA: Innovate with cloud, social and mobile tools

28 Case Study: Google Process Overview (Snapshot) Month 1 Month 2 Month 3 Target Audience Identification Build Social Seller Profile Make Connection Requests Share Relevant Content (Brand Building + Demand Generation) Request Meeting Discovery Meetings Opportunities & Pipeline Created

29 Case Study: Google Target Audience Identification Advanced Search Parameters: Job Title + Variations Company Name Regional Locations

30 Social Selling Models Build your Social Seller s Profile

31 Case Study: Google Make Connection Requests All invitations must: Be Personalised Show Context and Relevance between the Seller and Buyer Be supported by a strong Profile Cory s connection rate with CIOs and CMOs: 66.31%

32 Case Study: Google Share Content (Brand, Demand, and Inbound Lead Generation) Brand Building (Market Trust) Amplification Demand Generation (Market Need) Inbound Lead Generation

33 Case Study: Google Request Meetings The Social Seller sent Personalised, Contextualised, and Relevant Meeting Requests to all of his connections % of his connections agreed to meet him. Cory generated dozens of meetings with senior decision makers, resulting in a large sales pipeline. Key: The Social Seller converts the Market Trust + Market Need they have developed into meetings.

34 Anecdote The Social Seller s Feedback Tone of meetings was open and friendly One-on-one meetings: Top-Down Selling vs. Traditional Bottom-up Business challenges are discussed Social Selling accelerated the buying cycle

35 What s Next for Social Selling? Tracking, Capture, Measurement, and ROI You can capture + score buyers digital language (clicks, downloads, web page visits) using Marketing Automation You can capture buyers thoughts and sentiments using Social Listening platforms You can incorporate this data into social-enabled CRM Provide greater buyer information to your sales force Disrupt your competitors

36 Summary The B2B buying process has been disrupted forever Social Networks: Provide transparent access to your target audiences Are a real-life engagement channel Enable brand building, demand generation, and lead generation Person-to-Person Social Selling differentiates you from competitors You can track and measure No. Connections, Meetings, Pipeline, and Revenue When rolled out at a large scale, Social Selling can transform your sales force, and your organisation

37 Thank You