Why Invest in Social Media As A Sales Tool
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ì Why invest in social media? Jane Frankland Agency, 20013
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Objective
ì Introduce you to social selling.
ì Add value by giving some insight into social media as a tool to modernize your sales approach and increase sales.
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Introduction
ì “Social” is being touted as a strategy that all businesses should use but ….
ì THE ques3on is …should you? ì Is it right for your business? ì Will it deliver REAL results? ì Is it worth your TIME?
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How I got into this “fine mess”
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Recognized authority
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ì Help forward thinking brands sell more in the digital era. I do this through consulNng, training and coaching.
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Agenda
ì How to use social media to: ì Enable sales ì Shorten your sales cycle ì Support your business ì Get a compeNNve advantage
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1. MARKETING
2. SALES
3. RECRUITMENT
4. NEW SERVICES/IP
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ì Using Social for Sales & Marketing
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What makes a good sales person?
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Buyers are different
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Buyers now seek you out
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Fact
ì 50-‐70% of the buying process happens before sales execuNves get involved (Source: Forrester)
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Fact
ì 74% of B2B decision-‐makers use LinkedIn to help them with their B2B purchase decisions.
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Fact
ì 90% of CEO’s and IT Directors say they NEVER respond to cold emails or calls (Source: InsideView)
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Fact
ì 89% of consumers begin searching for products and services using a search engine (Source: InsideView)
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Savvy entrepreneurs
ì Shifing their spend away from ‘interrup3on adver3sing.’ i.e. trade shows and direct mail and ‘outbound marke3ng’ i.e. cold-‐calling.
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Better returns through social media
ì 57% acquire clients through blogging
ì 44% from Twiher
ì 43% of B2B companies from Facebook
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They’re listening
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SOCIAL
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Where to focus
ì To win in business now, you’ve got to be focusing on engagement, interaction and conversations.
ì Recent figures suggest that 90% of us buy on recommendation – even from people we’ve never met.
ì The reason – we’re programmed this way. We follow the herd, keep up with the crowd and so on.
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Social media works in the same way
ì Studies show that the average conversion rate on a website shoots from 7% buying up to 71% when we’re recommended via social networks.
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Social media shortens the sales cycle
ì When you ask for help or search for something through those you’re connected to, you’ll find that you’ll end up on the recommended site knowing a lot more.
ì AND you’ll be more focused and more ready to buy!
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Key thing to note
ì Understand this and you’ll take traffic away from your compeNtors who may out rank you now in terms of SEO.
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To succeed with social selling
ì You need to be taught how to use it effecNvely – as a process.
ì You need to know your objecNve and your market. Then plan, focus and take consistent acNon.
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Let’s hear it from the frontline
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What do you think they said?
ì 1,007 sales professionals from USA, UK, China and Brazil were interviewed to get their thoughts.
ì 3 YEARS AGO here’s what they said…
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Salespeople are desperate for help
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Selling is getting harder
More Insight Less Info
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More work for less return
More Calls Poor Results
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Lead generation
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Meeting volumes have plummeted
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Targets are not being met
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Old techniques aren’t working
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Change is needed
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YOU KNOW THIS & SO DO FORWARD THINKING BRANDS
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Technology is the enabler
ì SOCIAL that’s changed everything.
ì We FOLLOW, LIKE, LINK and SUBSCRIBE and make friends. We network, we connect, we share, we contribute and we support.
ì Business is more transparent, agile and AUTHENTIC than EVER.
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It’s your choice
You have a choice – whether to:
ì LEAD the change.
ì FOLLOW someone’s change.
ì GET LEFT BEHIND.
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Consider this…
ì If you choose not to, one thing’s certain – your prospects, clients and compeNtors are going to.
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SO ASK YOURSELF, CAN YOU AFFORD NOT
TO UNDERSTAND HOW TO DO THIS?
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Clients access information
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Decisions are made
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Overwhelmed by sales messages
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BUT … THEY STILL NEED SOLUTIONS
(& NOW)
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Outwit the competition
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Out maneuver the competition
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Stealth sell
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CONNECT MORE DO MORE SELL MORE
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EMBRACE SOCIAL SELLING
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Those who get it win
31% greater team quota with social selling techniques
(Aberdeen Group)
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3 Levels of social selling
LEVEL 1 -‐ Individuals
LEVEL 2 -‐ Strategy & Formal Training
LEVEL 3 – Managed Systems
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To stop using outdated methods
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Empower your team
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ì Selling Through Social Media EssenNal Steps to Take to Conquer Social Selling
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Prospecting
ì ProspecNng can be one of the less glamorous aspects of sales but it’s also the most important. If you don’t have leads, you don’t have sales!
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Creating success
ì Using social media for sales has been on the radar for many companies but few achieve success. It’s usually because: ì Their content is focused on sales, not the
customer ì Using “old school” sales mentality with new
tools ì They provide no value
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A replacement for cold calling
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This is key…
ì … because when you cold call normally, there’s no prior relaNonship established and your prospect has no sense of obligaNon, or interest to give you the Nme of day because they’ve got no idea who you are.
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Good listening
ì An integral part of the sales process is gerng to know your prospects and establishing relaNonships—and social media can help you accomplish this quickly and easily.
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Get good at conversations
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Think great customer service
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“Price is what you pay. Value is what you get”
Warren Buffet
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VALUE-‐ADD
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ì Recruitment
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Recruitment
ì Ernst & Young are notorious for their grad recruitment via social media. When they wanted to increase their brand presence across UK unis they had 1 person registering every 2.58 minutes.
ì Recruitment agencies charge 20%.
ì How much money are you losing?
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Walk in your buyer’s digital footsteps
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Create digital bait (content)
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A joined up approach =
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BECOME SOCIAL SELLING CONSCIOUS
INCORPORATE IT INTO YOUR SELLING METHODOLOGIES
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IBM
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The problem
ì Finding B2B clients — telemarkeNng and email—were not working for cloud compuNng and data security.
ì Commissioned a buyer preference and it revealed that 1/3 of its B2B buyers were already using social media of various kinds (Twiher, blogs, online forums) to engage with vendors and learn about products.
ì 75% of respondents said they were likely to use social media in the future as part of their buying decision.
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The solution
ì Cloud CompuNng -‐ 7 inside sales reps with Twiher and LinkedIn accounts and collateral.
ì "intelligent listening” to learn what conversaNons were going on about cloud compuNng, what trends and issues were being discussed, and what the hot-‐buhon topics in the field were for users or considerers.
ì Tested an offer of 60 days' free trial of the product via the 7 reps and published only in their social channels; it was released on the web a week later.
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400% INCREASE IN SALES
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Innovation
ì An innovaNon jam in 2006 brought together employees—and friends, family and clients—to discuss more than 50 research projects within the company.
ì From there, they voted on the 10 best, which became incubator businesses that IBM funded with $100 million, all based on “crowd” discussion.
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What was the ROI?
ì They generated $100 billion in total revenue for a 100-‐to-‐1 ROI with a 44.1% gross profit margin
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SAP
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6. Dell
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Perform at a higher level
ì This is your choice.
ì By applying a proven system, you can predictably: ì Increase your reach so you
get more leads, meeNngs and sales
ì Increase your revenue ì Save on markeNng and
recruitment costs ì Improve innovaNon
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Embrace change
“The rate of internal change must be greater than the rate of external change or
the company will fall behind.”
-‐ Jack Welch
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Got this far?
ì Contact me now to discuss how I can help you & your team perform at a higher level:
hello@jane-‐frankland.com