Inside Sales and Social Selling for Extreme Results - By Ken Krogue, Founder & President, InsideSales.com
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Inside Sales and Social Selling for Extreme Results. This presentation has been updated specifically for The American Association of Inside Sales Professionals and was given in Minneapolis, Minnesota. 1- Background: I started the original inside sales department at Franklin Quest (now Franklin Covey), and went to the United States Naval Academy. My hobby is military strategy. 2- Recently ranked #2 in the world of Social Selling 3- My social media experience began when I read this article about 31 days to a better blog. 4- 5- 6- 7- 8- 9- 10- 11- 12- 13- 14- 15- 16- 17- 18- 19- 20- 21- 22- 23- 24- 25- 26- 27- 28- 29- 30- 31- 32- 33- 34- 35- 36- 37-
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Inside Sales and Social Selling for Extreme Results - By Ken Krogue, Founder & President, InsideSales.com
- 1. INSIDE SALES AND SOCIAL SELLING FOR EXTREME RESULTS KEN KROGUE PRESIDENT AND FOUNDER INSIDESALES.COM
- 2. BACKGROUND
- 3. IS SOCIAL SELLING WORKING? http://bit.ly/ForbesSocialSellers
- 6. DEFINITION OF INSIDE SALES Inside Sales is Professional Sales Done Remotely
- 8. ORIGINAL 2009 MARKET SIZE STUDY Inside Sales Industry Growth Copyright © InsideSales.com Inc. All Rights Reserved 15x Source: 2009 infoUSA/MIT Study
- 9. INSIDE SALES GROWTH 2013 Outside Sales Inside Sales 3x 2,700,996 2,806,335 2,915,782 3,389,052 14 12 10 8 6 4 2 0 2011 2012 2013 2020 Millions Copyright © InsideSales.com Inc. All Rights Reserved Source: BLS.gov & 2013 Market Size Study
- 10. US TOTAL GROWTH OF INSIDE SALES 1,974 1,968 2,202 2,339 2,381 2,424 2,466 2,509 2,551 2,594 2,636 3000 2000 1000 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Non-Retail Inside Sales Reps (thousands) Copyright © InsideSales.com Inc. All Rights Reserved 42,400 New Inside Sales Reps Per Year
- 11. InInclue IMMEDIATE RESPONSE http://bit.ly/lrmstudy
- 12. RESPONSE REPORTS Companies Response Time % Responded Response Attempts Cloudforce 2010 472 30.7% 49:49 1.32 Avg 39:22 Avg 1.50 LeadsCon East 2010 57 35.1% 56:05 2.00 Dreamforce 2011 3,051 51.4% 57:28 1.20 AA-ISP 2011 159 54.7% 40:24 2.60 AA-ISP 2012 696 64.2% 39:20 2.05 Dreamforce 2012 2,148 55.0% 38:30 1.57 Distance Education 69 73.0% 24:18 3.48 LeadsCon 2013 311 49.8% 17:17 1.63 AA-ISP 2013 760 58.6% 31:08 1.65 only 27% Copyright © InsideSales.com Inc. All Rights Reserved 2007-2013 ResponseAudit Research Studies
- 13. MOST EFFECTIVE LEAD GENERATION 1 Company Website 15 Public Relations 2 Email 16 Twitter 3 Tradeshows, Conferences 17 Online Display Ads 4 Inside Sales++ 18 Online Video 5 Webinars, Webcasts 19 Google+ 6 Linkedin 20 Rich media 7 Search Marketing 21 Radio 8 Sponsorships 22 TV Advertising 9 Direct Mail 23 Virtual, On-Demand Events 10 Seminars 24 Other Web 2.0 Tools 11 Telemarketing 25 Other 12 Blogs 26 Pinterest 13 Facebook 27 Outdoor Media 14 Print Advertising
- 14. CONVERSION RATES BY SOURCE New . Attempting Contact Contacted / Appt Set Qualified Closed Tradeshow Lists 100.0% 76.4% 10.2% 2.3% 0.2% Copyright © InsideSales.com Inc. All Rights Reserved Referrals 100.0% 50.3% 40.7% 38.1% 7.3% Paid Search 100.0% 51.5% 23.1% 18.7% 1.8% 100.0% 38.4% 10.8% 3.3% 0.6% Vendor 100.0% 40.6% 34.0% 16.8% 0.4% Inbound Leads 100.0% 22.7% 21.9% 16.1% 0.5% New . Attempting Contact Contacted / Appt Set Qualified Closed
- 15. SPECIALIZATION
- 16. TOOLS - $2,280 PER REP PER YEAR
- 17. 72% 39% 67% 83% 28% 31% 100% 80% 60% 40% 20% 8% 10% 0% 12% Preferred Contact Method 98% 25% PREFERRED CONTACT METHOD http://bit.ly/is-resources
- 18. 84% 79% 81% 86% 17% 49% 18% 15% 17% 100% 80% 60% 40% 20% 0% Likely to Respond 93% 25% LIKELY TO RESPOND http://bit.ly/is-resources
- 19. 84% 79% 81% 86% 17% 49% 18% 15% 17% 72% 39% 67% 83% 28% 31% 100% 80% 60% 40% 20% 8% 10% 0% 12% Likely to Respond Preferred Contact Method 98% 93% 25% COMMUNICATION AT WORK http://bit.ly/is-resources
- 20. HARD TO REACH: PREFERRED METHOD
- 21. THINGS ARE CHANGING 2012 2013
- 22. 15X
- 23. PLATFORMS What is working for B2B?
- 24. HOW DO BUYERS RESEARCH YOU?
- 25. PLATFORM Companies Using Social? • 43% No strategy in place • 33% Unclear of value • 25% Not applicable • 18% Don’t have tools Which Platforms for Demand? • 80% Facebook • 78% Twitter • 51% LinkedIn* • *LinkedIn is 3X more effective for lead Eloqua research study generation
- 26. THE 6 CORE SKILLS The 6 Core Skills 1. Complete 2. Content 3. Community 4. Connect 5. Comment 6. Call to Action
- 27. SKILL #1 COMPLETE The 6 P’s of Completion •Purpose •Platform •Plan •Prepare •Profile •Persist Complete profiles are 40x more likely to receive opportunities: Completed profile? • Industry • Location • Current position • 2 past positions • Your education • Skills (3) • Photo • 50 connections
- 28. CONTENT STRATEGIES Content Levels 1. Influencer 2. Industry 3. Company 4. Product 5. Proof 6. Sales 7. Client Social Nurturing A = Aware C = Curiosity Q = Qualify U = Understand I = Interest R = Relevancy E = Engage
- 29. ASK THE QUESTION A = Aware……….. C = Curiosity……. Q = Qualify……… U = Understand… I = Interest……… R = Relevancy….. E = Engage……... Have you heard? Did you know? What do you do? What do we do? Is it cool? Do we need it? Shall we talk?
- 30. THE RIGHT TOOLS
- 31. SOCIAL CONNECTION TOOLS LinkedIn • Basic • Connections App • Premium • Sales Navigator Twitter • Tweepi • Tweetadder • Socedo • Insightpool
- 33. STRATEGY #1 JOB POSTINGS LINKEDIN MONSTER CAREERBUILDER CLASSIFIEDS
- 34. STRATEGY #2 CUSTOMER REFERRALS #1 SAE
- 35. STRATEGY #3 JOB CHANGE ALERTS WITH LINKEDIN & IFTTT
- 36. forbes.com/sites/kenkrogue kenkrogue.com linkedin.com/in/kenkrogue @kenkrogue kk@insidesales.com Let’s Connect! Q&A Look for my next Forbes Article coming out on Social Media this Week!
Editor's Notes
- Trish Bertuzzi at The BridgeGroup has been surveying inside sales groups for years In 2007 she found her average inside sales group was 5 reps, in 2009 it was 12 reps! That’s 140% growth
- Regarding at work communication, this graph helps us understand which methods have the greatest likelihood of getting a response, compared to the preference for each method. In this slide, the percent of respondents who indicate their preference for each contact method is overlaid with the percent of respondents who say they are likely to respond to each contact method. For example, we notice that 39% of people prefer texting as a communication method while at work, while 79% of people say they are likely to respond to texting while at work. This means that people have a low preference to use texting for at work communication, but actually have a quite high likelihood of responding when they do receive text messages. As an interesting inverse example, we notice that 28% of people prefer communicating via LinkedIn while at work, but only 17% of people are likely to respond. This means that people prefer to use LinkedIn more than they respond for at work communication. This finding is interesting because it shows a type of “directioning” where people project a preference for work-related communication to LinkedIn.
- Regarding at work communication, this graph helps us understand which methods have the greatest likelihood of getting a response, compared to the preference for each method. In this slide, the percent of respondents who indicate their preference for each contact method is overlaid with the percent of respondents who say they are likely to respond to each contact method. For example, we notice that 39% of people prefer texting as a communication method while at work, while 79% of people say they are likely to respond to texting while at work. This means that people have a low preference to use texting for at work communication, but actually have a quite high likelihood of responding when they do receive text messages. As an interesting inverse example, we notice that 28% of people prefer communicating via LinkedIn while at work, but only 17% of people are likely to respond. This means that people prefer to use LinkedIn more than they respond for at work communication. This finding is interesting because it shows a type of “directioning” where people project a preference for work-related communication to LinkedIn.
- Regarding at work communication, this graph helps us understand which methods have the greatest likelihood of getting a response, compared to the preference for each method. In this slide, the percent of respondents who indicate their preference for each contact method is overlaid with the percent of respondents who say they are likely to respond to each contact method. For example, we notice that 39% of people prefer texting as a communication method while at work, while 79% of people say they are likely to respond to texting while at work. This means that people have a low preference to use texting for at work communication, but actually have a quite high likelihood of responding when they do receive text messages. As an interesting inverse example, we notice that 28% of people prefer communicating via LinkedIn while at work, but only 17% of people are likely to respond. This means that people prefer to use LinkedIn more than they respond for at work communication. This finding is interesting because it shows a type of “directioning” where people project a preference for work-related communication to LinkedIn.
- For contacting the hard to reach while at work, email is still highly preferred, with office and mobile phone methods next.