Huthwaite Future Forum: Global Insights - Social Selling
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Huthwaite Future Forum: Global Insights - Social Selling
- 1. Future In association with Forum Melbourne | Sydney May 2013
- 2. Proudly brought to you by: Huthwaite Future Forum Welcome • Introduction • Research • Panel discussion • Wrap up – food for thought Twitter hashtag for the Forum: #HWFF
- 3. Proudly brought to you by: Huthwaite Future Forum Q2 2012 35% Q4 2012 41% Buyers now engage directly with sales people later in the sales process. Source: Huthwaite Sales Pulse Survey Buyers use social media and professional networks as part of the buying process. Q2 2012 24% Q4 2012 34% Sellers believe they need a higher level of business acumen to be able to provide business insight. Q2 2012 79% Q4 2012 85% Change
- 4. Proudly brought to you by: Huthwaite Future Forum 200,000,000 – The number of members for professional social network LinkedIn, an increase of 13 million since November 1, 2012. (Source: LinkedIn) 181,000 – The number of Twitter users with “social media” as part of their bio as of January 2013, up from just 16,000 in 2009. (Source: AdAge) 2 - The number of people that join LinkedIn every second, which equates to more than 172,000 new members per day. (Source: LinkedIn) 200,000,000 – The number of monthly active Twitter users. (Source: Twitter) 33 – The percentage of US Internet users who said they ended a connection with a brand on social media due to the brand sharing too many updates. (Source: eMarketer) Social upheaval
- 5. Proudly brought to you by: Huthwaite Future Forum The situation 2012 Sales Management Association (SMA) survey of sales managers and sales leaders: • 96% use LinkedIn at least once a week. • 80% believe sales force would be more productive. • >50% expect to increase their engagement with LinkedIn, Facebook and Twitter. • 66% of firms do not have a social media strategy for the sales organisation.
- 6. Proudly brought to you by: Huthwaite Future Forum The problem Only 11% of companies had formalised customer-facing social media efforts for sales, compared to 82% for marketing. Source: Alimeter Group Formalised customer-facing social media efforts by group
- 7. Proudly brought to you by: Huthwaite Future Forum The bigger problem 2012 Sales Management Association (SMA) survey of sales managers and sales leaders: • Sales force lacks a solid understanding of social media. • Their own firm’s social media engagement lacks that of their important customers. • Few have had sufficient social media training. Source: Sales Management Association Social media education in sales
- 8. Proudly brought to you by: Huthwaite Future Forum The implication – social media satisfaction Main areas of dissatisfaction were in generating leads and, to a lesser extent, nurturing leads. Why? Source: B2B Marketing Outlook Report 2013
- 9. Proudly brought to you by: Huthwaite Future Forum Why does it matter? Social selling remains an ambition, not reality at most B2B organisations today; however, the evidence is clear that change is underway. Source: Aberdeen Group Performance benefits of social selling
- 10. Proudly brought to you by: Huthwaite Future Forum The good news … Sellers don’t have to make a decision to adopt social media – their customers have already made it for them.
- 11. Proudly brought to you by: Huthwaite Future Forum The Panel John Golden Huthwaite President & CEO @johncgolden Matt Loop Linkedin Head of Solution Sales @mattloop Marie Sornin Fairfax Media Social Media Director @mariesornin Tom Skotidas Skotidas Director @tomskotidas Chris Collacott Deloitte Digital Marketing Manager @chriscollacott Danielle Di-Masi Business Etiquette & Digital Relationship Expert @danielledimasi Twitter hashtag for the Forum: #HWFF
- 12. Proudly brought to you by: Huthwaite Future Forum Huthwaite’s latest research • 30% post for business purposes weekly. Why • 72% to research and make connections with prospective buyers and clients. • 71% to improve personal brand. • 55% to generate value for customers. However • 37% don’t know how best to maximise the use of it. • 32% struggle to create the right messaging in a given situation.
- 13. Proudly brought to you by: Huthwaite Future Forum Emerging trends • Social media is used almost daily by the majority of salespeople, but not necessarily effectively. • Salespeople struggle most often with: – creating the right messaging in a given situation; – maximising the use of social media. • Techniques are evolving rapidly, everyone is still learning. • Discipline is required.
- 14. Proudly brought to you by: Huthwaite Future Forum Our philosophy on social selling • Create a daily routine that will fit into your existing sales process. • Inspire and educate (give your knowledge away) as you engage with prospects and customers. • Develop your personal brand and become a micro- marketer. • Find the platform and technique that works best for you. • Search / Listen / Share.
- 15. Proudly brought to you by: Huthwaite Future Forum
- 16. Proudly brought to you by: Huthwaite Future Forum Thank you • Draw for books • Feedback form • On-line blog / discussion
Hinweis der Redaktion
- Twice a year at Huthwaite we do what we call the Sales Pulse survey – some of you may even have been part of it. We normally have between 3 and 5,000 participants who are largely tenured, senior sales professionals and executives – we look at the global results as well as breaking them down by region.Interestingly we are not seeing as much regional difference as in the past – so I have used the global results in this presentation because the differences between global and say Asia or Australia are insignificant.In 2011 and 2012, people began to wake up to the fact that sellers were actually engaging later in the sales process with sales people than before. This was a recognition that B2C buyer behavior had bled over into the B2B arena. For a time B2B sellers had comforted themselves with the idea that B2C and B2B were so different that they could stay within the comfortable parameters of traditional selling, be that relationship-based or whatever.Forrester reports that 70% of the buying process in a complex sale is already complete before prospects are willing to engage with a live salesperson.A Corporate Executive Board study pegs the figure slightly lower, at nearly 60%.But remember while every consumer is not a business person, every business person is a consumer so it was very naïve to think that business people would adopt one buying strategy in their personal purchases and another in their business purchases particularly given the
- In 2012, when the Sales Management Association (SMA) surveyed sales managers and sales operations leaders at 140 firms, they found that:96% of them use LinkedIn at least once a week and spend an average of six hours per week on the site.80% of these leaders believe their sales force would be more productive with a greater social media presence, and more than half of them expect to increase their engagement with LinkedIn, Facebook and Twitter.66% of firms do not have a social media strategy for the sales organisation33% of respondents believe their firms are undertaking “significant” social media engagement. A majority of the SMA’s respondents think that their sales force lacks a solid understanding of social media, and few have had sufficient social media training.Furthermore, they believe that their own firms’ social media engagement lacks that of their important customers.
- Altimeter Group reported an alarming lack of official social media policies within sales departments. Hubspot1/3 of global b2b buyers use social media to engage with their vendors75% of global b2b buyers expect to use social media in future purchases46% of all Internet searches are for product & service information
- In 2012, when the Sales Management Association (SMA) surveyed sales managers and sales operations leaders at 140 firms, they found that:96% of them use LinkedIn at least once a week and spend an average of six hours per week on the site.80% of these leaders believe their sales force would be more productive with a greater social media presence, and more than half of them expect to increase their engagement with LinkedIn, Facebook and Twitter.66% of firms do not have a social media strategy for the sales organisation33% of respondents believe their firms are undertaking “significant” social media engagement. A majority of the SMA’s respondents think that their sales force lacks a solid understanding of social media, and few have had sufficient social media training.Furthermore, they believe that their own firms’ social media engagement lacks that of their important customers.
- The main areas of dissatisfaction are when using social media for generating leads and, to a lesser degree, nurturing leads. The underlying message here is assumed that social media appears to assist in brand building and brand management but is less effective in driving prospects into the sales funnel and progressing them through it.What do you think?Our opinion is around missuse of content and message and not understanding the buying cycle
- B2B sales are organisation-to-organisation, not just bilateral interactions between sales reps and individual customers. When partnered with solid business practices, social tools strengthen the entire web of relationships involved in sales, making the selling process as collaborative as the modern buying process. Sales representatives can collaborate to research prospects, build referrals, and discover cross-selling opportunities.In a 2012 review of sales organisations by Aberdeen Group, social sellers significantly outperformed the competition in numerous Key Performance IndicatorsSocial selling remains an ambition, not reality at most B2B sales organizations today; however, the evidence is clear that change is underway.
- SearchFind meaningful connections to build a social networkListenMonitor social media to gain business and buyer insights and accelerate the sales cycle ShareKnow when and how to engage with buyers via social mediaUse social selling to add value throughout the decision making process