Tynan Fischer  Chief Operating Officer  New Horizons

 Brian Church  Head of Sales Solutions North America  LinkedIn

How Top Teams Win in Today’s Dynamic Social Selling Environment

 Dan Lurie  Senior Insights Analyst  LinkedIn

Which sales leadership attendees have adopted social selling the most?

3 Eileen Wiens Vice President of Sales, ToutApp

2 Ronald Fuentes Vice President Global Sales, Choice Logistics

1 Jeanne Hecht Senior Vice President, Global Head of Sales, Quintiles

5 Tynan Fischer Chief Operating Officer, New Horizons Computer Learning Centers

4 Erik Stockglausner Director, Enterprise Sales, Digital Realty

86.5

88.8

90.6

85.0

86.4

Transforming into a social selling organization

 Implementation  Purpose  Measurement

 Purpose  of Social 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?

Pricing + discounting

Consideration list formulated

Individual buyer

Buyers use social media as a critical part of their process

 Traditional  buying process

 New 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

75% of B2B buyers now use Social Media

The Decision Process Has Changed

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

Harvard Business Review 2012 – The End of Solution Selling Harvard Business Review 2012 – Tweet Me, Friend Me, Make Me Buy. Decision makers are C-level

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

 - Peter Drucker

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 brand 1

Find the right people 2

Engage with insights 3

Build strong relationships 4

Social Selling Index (SSI)

 Implementation  of 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 & customers Avg. # of connections per New Horizon rep on Sales Navigator

338

585

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

+ 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.

 Measurement  of Social Selling

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

39

60

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

+ 54%

Laggards

100 0

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

Performance on four key dimensions, each worth 25 points

New Horizons Sales 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 10 20 30 40 50 60 70 80 90 100

SSI Tynan’s team

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

0 10 20 30 40 50 60 70 80 90 100

SSI World avg Tynan’s team

Sales Connect attendees have adopted social selling similarly to Tynan’s team Distribution of SSI of Sales Connect attendees

0 10 20 30 40 50 60 70 80 90 100

SSI Room avg World 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