Measuring the ROI of Social Selling
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The document discusses the importance of social selling and its ROI, highlighting a shift in B2B buyer behavior and the need for effective social media strategies. It presents metrics and methods for measuring the success of social selling, including employee advocacy and prospecting techniques. Additionally, it emphasizes the need for employers to train and support employees in leveraging social platforms for enhanced sales performance.
Measuring the ROI of Social Selling
- 1. Assessing the ROI of Social Selling MICHAEL IDINOPULOS, PEOPLELINX CMO
- 3. Thue is the Kissmetrics Webinar Wizard and Marketing Ops Manager. Before joining forces with Kissmetrics, he was a Lyft driver in SF, which is also how he ended up as a KISSmetrics marketer. Whenever Thue is not trying to automate everything around him, you can find him hiking in the Sierras. THUE MADSEN Marketing Operations Manager, Kissmetrics @ThueLMadsen Michael is currently CMO at PeopleLinx. He previously served as Chief Customer Officer at Socialtext, bringing the first social software inside corporate, nonprofit, and government organizations. Michael holds a Ph.D. in philosophy from U.C. Berkeley and currently lives in Philadelphia with his wife and three children. MICHAEL IDINOPULOS CMO, PeopleLinx @michaelido
- 5. 1 Why Social Selling? Employee Advocacy Prospecting Deal Nurturing 2 Measuring the ROI 3 Section Three – The Change Journey TABLE OF CONTENTS
- 6. WATCH WEBINAR RECORDING NOW
- 7. B2B BUYERS ARE CHANGING Sources: Corporate Executive Board, Telenet, Ovation Sales Group Calls required to reach a buyer (up from 3.7 in 2007). HARDER TO REACH 8 Decision-makers participate in an average enterprise purchase. CONSENSUS-DRIVEN 5.4 Of buyers’ decision is already made before speaking with a sales rep. SELF-EDUCATING 60% Of B2B executives use social media to research buying decisions. USING SOCIAL 84%
- 8. 6.2 10 11.57 12.81 0 2 4 6 8 10 12 14 Conducts Non Traditional Customer Due Dilligence Personally Owns Lead Generation Leads With Insight Uses Social Media as a Critical Channel ImprovementProbabilityof becomingaTopPerformer SOCIAL SELLING IS CRITICAL TO EARLY ENGAGEMENT Sources: Corporate Executive Board
- 9. PUNDITS SAY IT’S AWESOME MARK FIDELMAN Forbes “78% of salespeople using social media outsell their peers.
- 10. Will you see similar results?
- 12. SOCIAL SELLING INDEX (SSI)
- 13. KLOUT SCORE
- 14. WHAT’S MISSING
- 15. SOCIAL IS JUST A CHANNEL
- 16. Awareness Lead Generation Qualification Opportunity Upsell Referral Employee Advocacy Prospecting Deal Nurturing THE CHANNEL SUPPORTS THREE SALES ACTIONS
- 17. EMPLOYEE ADVOCACY METRICS: CLICKS, FORM-FILLS
- 18. SOCIAL PROSPECTING METRICS: MEETINGS, OPPORTUNITIES
- 19. NURTURE METRICS: WIN RATES, CYCLE TIMES
- 20. LOG IN WITH GOOGLE Start Your Free Kissmetrics Trial
- 21. CRM CAN REPORT THIS…
- 22. WHEN SOCIAL ACTIONS ARE ASSOCIATED WITH OUTCOMES Employee Advocacy Prospecting Deal Nurturing Capture “Social” as Lead Source & Opportunity Source in CRM Capture social gestures in activity history (hard to do manually) Share tracker URLs on social (More segmented = more info)
- 23. WHICH WAY DOES THE CAUSAL ARROW POINT?
- 24. $1-2 CPC 30-40% of form-fill conversions contributed by social 3-4x increase in outbound yield v. cold-calling 10-20% increase in win rate 20-30% acceleration in cycle times WHAT SUCCESS LOOKS LIKE
- 25. THREE THINGS YOU CAN DO RIGHT NOW Give employees unique tracker URLs for social sharing Add “Social” to lead/deal source Capture success stories
- 26. Sources: PeopleLinx The State of Social Selling – 2015 REPS NEED HELP
- 27. Train employees on social selling Encourage use of social selling Measure Results of social selling EMPLOYERS AREN’T HELPING
- 28. EMPLOYER SUPPORT MAKES A BIG DIFFERENCE
- 29. SOCIAL SELLING MATURITY MODEL (SSMM) (No Change to Lift) 1-2%Policy Training Integration Optimization Increase to 7-8% Increase to 10-15% Increase to 15-20% Random Acts of Social Sales Lift 1-2%
- 30. MICHAEL IDINOPULOS CMO, PeopleLinx @michaelido THUE MADSEN Marketing Operations Manager, Kissmetrics @thuelmadsen Questions?