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The insight selling era - live webcast with LinkedIn & CEB
Organizations must adapt to the empowered B2B buyers of today, who rely heavily on social media for vendor information and involve more decision-makers in their purchasing processes. Traditional sales methods, such as cold outreach, are becoming less effective, necessitating a shift toward building relationships and understanding customer needs. Successful sales teams should evolve their strategies to include insight selling, focus on relevant stakeholders, and leverage tools like LinkedIn to facilitate connections.
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Similar to The insight selling era - live webcast with LinkedIn & CEB
The insight selling era - live webcast with LinkedIn & CEB
- 1. How Organizations MustEvolve to Counter Today’s Highly Empowered Customers The Social & Insight Selling Era ©2014 LinkedIn Corporation. All Rights Reserved. Matthew Kiel Senior Director, CEB Kevin Ryan Marketing Manager, LinkedIn September 23, 2014
- 2. Agenda for today • Introduction and Housekeeping • The Social Selling Era • The Insight Selling Era • Q&A
- 3. Relationships are foundationalfor sales success Kevin Company A Company B Company C
- 4. Decisions involve morepeople than ever before 5.4 people are now involved in the average B2B buying decision Boss Peer Direct report Cross-functional Business leader partner Your target buyer Corporate Executive Board 2013 – Winning The Consensus Purchase
- 5. Decision makers relyon social media to choose between potential vendors 75% of B2B buyers now use social media to be more informed on vendors Network referrals target buyers IDC 2014 – Social Buying Meets Social Selling Your Blog posts Company pages White papers websites Social relationships
- 6. Decision makers nowignore cold outreach Your competitor 90% of decision makers say they never respond to cold outreach Harvard Business Review 2012 – Tweet Me, Friend Me, Make Me Buy. Decision makers are C-level You Your competitor X X X Your target buyers
- 7. The buyer’s processhas changed 5.4 75 % 90 of B2B buyers now use social media to be more informed on vendors % of decision makers say they never respond to cold outreach people are now involved in the average B2B buying decision Corporate Executive Board 2013 – Winning The Consensus Purchase Corporate Executive Board 2012 – New Decision Timeline Harvard Business Review 2012 – Tweet Me, Friend Me, Make Me Buy. Decision makers are C-level
- 8. How well hasyour team adapted to this new normal? Are you still: 75% of B2B buyers now use social media to be more informed on vendors Relying on the buyer to inform you on key updates 5.4 Looking for one all-powerful decision maker people are now involved in the average B2B buying decision 90% of decision makers say they never respond to cold outreach Cold-calling prospects like they’re just a name in a database I found out a month later the Director of Marketing left my account and joined another top prospect of mine The VP of Marketing went dark and now I’m back at square one I keep pounding – email, phone, voicemail – but can’t get a response “ ” “ ” “ ”
- 9. Building relationships withprospects and customers is different in this new normal. You need to: Focus on the right people and companies Stay informed on key updates at your target accounts Build trust with your prospects and customers
- 10. LinkedIn has awealth of information on the people & companies with whom you want to build relationships Billions of professional relationships 313M+ members 2B+ member updates per week
- 11. Sales Navigator makesit simple to establish and grow relationships with your prospects and customers Relevant news LinkedIn’s network data Your accounts, leads & preferences Sales Navigator
- 12. The Insight SellingEra How Organizations Must Evolve to Counter Today’s Highly Empowered Customers
- 13. THE TRIED ANDTRUE SALES APPROACH 13
- 14. CHANGING CUSTOMER BUYINGBEHAVIOR n = 1,460 14
- 15. MAKE ME SMARTER n = 4,960 15
- 16. THE 5 PROFILESOF SALES PROFESSIONALS Hard Worker Challenger Relationship Builder • Always goes the extra mile • Doesn’t give up easily • Self-motivated • Interested in feedback and development • Always has a different view of the world • Understands the customer’s business • Loves to debate • Pushes the customer • Reliably responds • Ensures that all problems are solved • Detail oriented • Follows own instincts • Self-assured • Independent • Builds strong customer advocates • Generous in giving time to help others • Gets along with everyone Lone Wolf Problem Solver n = 10,000 © 2012 The Corporate Executive Board Company. All Rights Reserved.
- 17. CHALLENGER REPS MOSTLIKELY TO WIN Percentage of Population % of Core Performers % of High Performers Challenger Lone Wolf Hard Worker Problem Solver Relationship Builder 23% 39% 15% 25% 22% 17% 14% 12% 26% 7% n = 10,000+ 17
- 18. THE CHALLENGER BLUEPRINT Challenger •Offers unique perspective •Two-way communication skills •Knows customer value drivers •Can ID economic drivers •Comfortable discussing money •Can pressure the customer’s thinking Relationship Builder •Forms good relationships •Builds internal advocates •Builds cross-functional relationships •Can work with anyone •Is genuine •Accessible to customers •Gives time to help others •Respects customer’s time Teach Gets Tailor Take Control along with Others Likeable Generou s with Time Build Constructive Tension Reduce Customer Tension 18
- 19. CHALLENGERS EXCEL INCOMPLEX SALES 11% 7% 20% 54% 25% 25% 26% 10% 18% 4% Low Complexity Sale High Complexity Sale Relationship Builder Problem Solver Hard Worker Lone Wolf Challenger Percentage of High Performers © 2013 The Corporate Executive Board Company. All Rights Reserved.
- 20. THE NEW HIGHPERFORMING SALES REP Teach for Differentiation Take Control Tailor for Resonance The Challenger Rep 20
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- 22. • Customer buyingbehavior and expectations have changed • New buying behaviors necessitate new selling behaviors • HOW YOU SELL > WHAT YOU SELL • Relationships are still vitally important, but they are a means to an end • Customers want to be challenged, but generally want to avoid change • Challenger is ORGANIZATIONAL CAPABILITY FIRST, INDIVIDUAL CAPABILITY LAST • The question should not be “How can I make all my reps Challengers?” but rather “How can we can enable better Teach, Tailor, and Take Control behaviors across the org?” 22 KEY TAKEAWAYS
- 23. 23 BECOMING ACHALLENGER ORGANIZATION Four Pillars of the Challenger Journey
- 24. • Do weknow how our customers buy? • Do we know how many stakeholders participate in that process? • Why should our customers buy from us over everyone else? Does it matter? Can we prove it? • How can we enable our sellers to have different-in-kind conversations with customers? What are the implications for training and development? • How do we evolve our hiring/interviewing process to screen for these skills? • What about first-line managers? Are we arming them with the differentiated skills they need to lead in this environment? • How do our process and metrics need to evolve? 24 QUESTIONS TO CONSIDER
- 25. CHALLENGER IS THETIP OF THE ICEBERG 25 Since Challenger, CEB has continued to analyze customer and rep behavior in an effort to gain a very tactical, data drive understanding of how the best reps go to market differently than most. Data shows that high performers have very different approaches to: • Opportunity Qualification • Sales process • Stakeholder targeting • Stakeholder engagement ceburl.com/SolutionSales
- 26. 26 DISMANTLING THESALES MACHINE As customers grow more educated and empowered, how we need to engage them grows in complexity and in variability. There are massive implications to: • Sales Process • CRM • Dashboards, metrics, and comp plans • How and where we source talent • Emerging skillsets for sales reps (IQ over EQ) • Emerging skillsets for sales managers (judgment and network performance) ceburl.com/Dismantling
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- 28. Visit sales.linkedin.com formore information