Tynan FischerChief Operating OfficerNew Horizons

Alex WolinHead of Enterprise East – Sales SolutionsLinkedIn

How Top Sales Teams Win in Today’s Social Buying Environment

John MayhallHead of SMB East – Sales SolutionsLinkedIn

Ateet DaveSales Product ConsultantLinkedIn

Agenda: Introducing Social Selling

ImplementationPurpose Measurement

Earliest Adopter

Kimberly Niehaus

Most Popular

Debbie Ingram

Most Connected

Josepf Haslam

LinkedIn Enterprise Value Proposition

HireWe have transformed

the world of recruitment.

SellLeverage the

power of relationships.

MarketThe best place on the

web to reach professionals

4

Purpose of Social Selling

Social selling is simply the process of helping social buyers become customers.

- Forbes

Pricing + discounting

Consideration list formulated

Individual buyer

Buyers have come a long way

Traditional buying process

Social buying process

First contact with vendor

Pricing + discounting

Online due diligence

Social recommendations

Consideration list formulated

First contact with vendor

Buying team

5.4 people involved in B2B decision

90% of decision makers never respond to cold outreach

60% of the decision process is complete before engaging

The Buying Process has Fundamentally Changed

Corporate Executive Board 2013 – Winning The Consensus PurchaseCorporate Executive Board 2012 – New Decision Timeline

Harvard Business Review 2012 – The End of Solution Selling

By 2015, the 20% of enterprises employing social media beyond marketing will lead

their industries in revenue growth.- Gartner, Social Is Here – Where’s the ROI?

Each of the four categories is scored from 0 – 25 making up a maximum total score of 100; LinkedIn’s Social Selling Index

Create a professional brand1

Find the right people2

Engage with insights3

Build strong relationships4

Introducing the Social Selling Index (SSI)

Implementationof Social Selling

 Tynan Fischer, COO, New Horizons

A Social Selling Story

Cold calling was becoming less effective; reps were finding that their leads were already halfway through the buying process.

Implementation of social selling practices to build team’s social media presence, find leads and engage insightfully.

Challenge

Solution

First, re-imagined reps’ profiles as branding opportunities

Complete profile – including picture

Multimedia & blog posts

Buyer-centric language

Reps spend from 4pm to 5pm every

day identifying 10 leads on LinkedIn,

spending 3 minutes on each profile to learn about the person and then

reaching out.

Next, implemented ‘Social Hour’ for prospecting

Then, engaged in social listening & content distribution

Social Listening Content Distribution

Finally, reps grew relationships with prospects & customersAvg. # of connections per New Horizon rep on Sales Navigator

Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14

338

585+ 73%

 Tynan Fischer, COO, New Horizons

A Social Selling Story

• 1.7M in opportunities in 6 months• 57% close rate; ~1M in revenue attributable to social selling • $25k deal within 5 days after approaching a prospect via InMail

Challenge

Solution

Results

Cold calling was becoming less effective; reps were finding that their leads were already halfway through the buying process.

Implementation of social selling practices to build team’s social media presence, find leads and engage insightfully.

Measurementof Social Selling

Effort x Effectiveness

Effort

Effectiveness

Work Hard,Work Smart

Tynan measured many metrics to help his team transition to social selling

Blog readership on

LinkedIn

# of individual connections

Daily / monthly searches

Lead click throughs

# of opportunities

added to CMS

# of contacts added to CMS

Change in organic search

ranking

# of testimonials

per week

% increase in direct traffic

Social Selling Index

Matching the increase in pipeline, Tynan’s team saw a dramatic increase in their Social Selling Index

Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14

39

60+ 54%

Laggards

1000

Leaders

The Social Selling Index (SSI) measures how well your team has embraced social selling

Brainstormed & calculated ~ 50 activities that good social sellers

might do on LinkedIn

Conducted survey of ~5000 sales reps to identify sample of

“top performing” reps

Built formula based on what top performing reps do on LinkedIn.com – keeping variables correlated with

sales success

We created SSI based on a combination of survey research and behavioral analytics

We identified activities that are predictive of rep success…

More predictive activities

Connection requests

Engagements (rec.)

Internal connections

VP + connections

Connections

People searches

Inbound profile views

Endorsements (rec.)

Engagements (given)

Advanced searches

Profile length

Shares

Groups followed

Profile completeness

PV

Rich content on profile

Prospecting PV

InMails sent

Companies followed

SSI leaders create 45% more opportunities per quarter

than SSI laggards.

SSI leaders are 51% more likely to hit quota

than SSI laggards.

45%more opportunities

51%more likely to hit quota

So that SSI is predictive of sales success

Create a professional brand

Find the right people

Engage with insights

Build strong relationships

17.2

15.1

9.7

18.3

Social Selling Index 60.2Social Selling Index measures adoption of LinkedIn social selling practices on a 0-100 scale

Performance on four key dimensions, each worth 25 points

New HorizonsSales Navigator Users

SSI measures your performance across the four pillars of social selling

7/1/2014 7/1/2013

+80%

+90%

For New Horizons, the largest increases in SSI were in engaging with insights and building relationships

Create a professional brand

Find the right people

Engage with insights

Build strong relationships

+24%

+51%

It’s hard to transform an entire organization - Tynan’s team had some laggards Distribution of SSI of Tynan’s team

0 3 6 9 12 15 18 21 24 27 30 33 36 39 42 45 48 51 54 57 60 63 66 69 72 75 78 81 84 87 90 93 96 99

SSI Tynan’s team

But Tynan’s team is far ahead of most sales professionalsDistribution of SSI of sales professionals

0 3 6 9 12 15 18 21 24 27 30 33 36 39 42 45 48 51 54 57 60 63 66 69 72 75 78 81 84 87 90 93 96 99

SSIWorld avg Tynan’s team

What elements of SSI are attendees great at – and which could be improved?

Strengths Opportunities

• Expanding your networks• 89% of possible points captured

• Being endorsed for skills• 86% of possible points captured

• Completing your profiles• 84% of possible points captured

• Prospecting with advanced search• 12% of possible points captured

• Showcasing content on your profile• 13% of possible points captured

• Interacting with your network• 16% of possible points captured

If you can’t measure it,you can’t manage it.

- Peter Drucker

What’s next? Get Your Relationship Report!

ContactyourAccountExecutiveorSimoneVanCleveatsvancleve@linkedin.com