Elevate the Sales Process: B2B sales intelligence with LinkedIn Social Selling Data
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The use of big data intelligence for sales development is still in its infancy stages. At LinkedIn, we use big data to push the envelope in the sales development process. Traditional methods of sales development are less data driven and little has been done to quantitatively understand an accounts propensity to purchase. We develop a set of full funnel b2b sales models that incorporates both company and individuals information and synthesize such information to dynamically inform our sales team on how to best manage their sales development. We are able to produce an information machine that decides which firms to target, who to target within each firm, understand each individual's propensity change in real time during the sales process so that the sales team is better equipped to win business deals. - See more at: https://ieondemand.com/divisions/analytics/presentations/elevate-the-sales-process-b2b-sales-intelligence-with-linkedin-social-selling-data#sthash.yILVhWId.dpuf
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Elevate the Sales Process: B2B sales intelligence with LinkedIn Social Selling Data
- 1. Elevate the Sales Process: B2B Sales Intelligence with LinkedIn Social Selling Data Derek Koh Business Analytics Sr. Associate LinkedIn Sales Solutions John Chao Business Analytics Manager LinkedIn Sales Solutions
- 2. 2 Agenda Introduction • Business Analytics • LinkedIn Sales Solution Intelligence • IPS • APS • 1-2 Punch
- 3. Introduction • Business Analytics • LinkedIn Sales Solution 3 Agenda Intelligence • IPS • APS • 1-2 Punch
- 4. Critical mass of data Relevant and valuable products and services Technology platform Member growth and engagement LinkedIn’s business model & why analytics is important
- 5. “Provide the best-in-class end-to-end scalable analytic solutions to power internal LinkedIn teams to be more productive and successful!” Business Analytics Team Mission
- 6. Biz Analytics Team $ Engineering Global Sales Organization Operations Sales Ops, Ad Ops, Biz Ops Team $ Product Global Customer Organization Marketing Talent Solutions Marketing Solutions 70+ team members support 6000+ internal employees Sales Solutions Premium Subscriptions Consumer Marketing
- 7. Insights What is the best that could happen? Intelligence What will happen? Information/Knowledge Why did it happen? Data What happened? Business ROI Business analytics evolution: from data to insights
- 8. The only thing that matters
- 9. Results!
- 10. Introduction • Business Analytics • LinkedIn Sales Solution 10 Agenda Intelligence • IPS • APS • 1-2 Punch
- 12. 12 LinkedIn Sales Solutions Mission Connect the world’s buyers and sellers to build relationships.
- 13. LinkedIn Sales Navigator 13 Focus on the right people Stay informed Build trust
- 14. 14 Social selling defined Create a Professional brand Find the right people Engage with insights Build strong relationships
- 15. 15 Sales professionals who are social selling More likely to reach quota 51% Exceed quota More likely to go to club 3x Go to club Average decrease in promotion to VP 17 months Get promoted faster
- 16. 16 • Public SSI dashboard shows your SSI and the pillars for each score • Made available via the link https://www.linkedin.com/sales/ssi Get your SSI
- 17. Intelligence • IPS • APS • 1-2 Punch 17 Agenda LinkedIn Business Analytics
- 18. Account Propensity Score (B2B) Business Analytics deliver results in three progressive ways Individual Propensity Score (B2C) 1. Empower Identify the right segment and offer the right product at right timing Optimize online acquisition and marketing campaigns through analysis and propensity models Project One-Two Punch Integrate online and field intelligence to deliver financial impact Elevate sales strategies by innovation on analytics 3. Innovate Account-based targeting instead of member-based, capturing/summarizing signals intelligently Prioritize sales efforts by focusing on accounts that matters now 2. Optimize
- 19. 0% 10% 20% 30% 40% 50% 90-99 80-89 70-79 60-69 50-59 40-49 30-39 20-29 10-19 0-9 %oftotalorders Individual Propensity Score (IPS) 19 Individual Propensity Model predicts member’s likelihood of signing up for Sales Navigator With IPS Without IPS Normalized Orders for Email & Inmail Campaign 66% • 0 to 99 scale - higher the score, the higher the propensity to convert • Performance on outbound marketing campaigns showed a 66% increase in orders 0% 10% 20% 30% 40% 50% 90-99 80-89 70-79 60-69 50-59 40-49 30-39 20-29 10-19 0-9 %oftotalorders Individual Propensity Score (IPS) 0% 10% 20% 30% 40% 50% 90-99 80-89 70-79 60-69 50-59 40-49 30-39 20-29 10-19 0-9 %oftotalorders Individual Propensity Score (IPS) 45% of all orders
- 20. 20 High IPS seats churn less 0% 10% 20% 30% 40% 50% 60% 70% 80% Survival by channel High Propensity Low Propensity • High IPS seats have 16% higher survival and 10% higher renewal rates • Survival rates are higher for high IPS seats regardless of channel Free Paid 1st month survival and renewals High IPS Low IPS High IPS Low IPS
- 21. 21 High propensity seats are 2-5x higher on key Sales Navigator engagement metrics • High IPS seats saved 3x more leads and 2x more accounts • High IPS adds an average of 3x more accounts and 4x more leads monthly Leads saved Accounts saved Profile view Search Account view Accounts added Leads added Seathholders Engagement by IPS Score High Low
- 22. 22 IPS is based on members demographic, profile and activity information • Profile views, People and company search are actions attributed to high propensity • Tenure, job search, and education are attributed to lower propensity
- 23. 23 Increase member IPS by nurturing engagement on linkedin.com • High IPS conduct 3.5x weekly searches • High IPS conduct 2x weekly profile views • High IPS have 1.7x weekly company PV High Low Company page views by IPS High Low Profile views by IPS High Low # of Search by IPS
- 24. 24 Learnings on Individual Targeting • IPS identifies members who are more likely to purchase SN • High IPS seats churn less and are more engaged on SN • Recommendation • Nurture members to high IPS before acquisition • Educate members on the value proposition of linkedin.com as a sales tool before introducing SN • Focus on improving key metrics (searches, profile PV, company PV) to improve IPS
- 25. Intelligence • IPS • APS • 1-2 Punch 25 Agenda LinkedIn Business Analytics
- 26. Account Propensity Score (B2B) Business Analytics deliver results in three progressive ways Individual Propensity Score (B2C) 1. Empower Identify the right segment and offer the right product at right timing Optimize online acquisition and marketing campaigns through analysis and propensity models Project One-Two Punch Integrate online and field intelligence to deliver financial impact Elevate sales strategies by innovation on analytics 3. Innovate Account-based targeting instead of member-based, capturing/summarizing signals intelligently Prioritize sales efforts by focusing on accounts that matters now 2. Optimize
- 27. How can we leverage LinkedIn firmographics data for B2B targeting? 27
- 28. How to tell the following companies apart? 28 SSI Sales Rep Company A 30.8 640 Company B 30.9 637 APS Closed Wons Top 1 % 3 Low 0
- 29. Statistical Model Company Graph Account Propensity Score Account Propensity Score (APS) based on account level engagement and company graph data Model Input Marketing activities Linkedin Usage Social Selling Company Growth
- 30. Higher account interest score leads to higher deal win rate and more revenue Without APS High APS 2.5x Deal Win Rate by APS bucket
- 31. Intelligence • IPS • APS • 1-2 Punch 31 Agenda LinkedIn Business Analytics
- 32. Account Propensity Score (B2B) Business Analytics deliver results in three progressive ways Individual Propensity Score (B2C) 1. Empower Identify the right segment and offer the right product at right timing Optimize online acquisition and marketing campaigns through analysis and propensity models Project One-Two Punch Integrate online and field intelligence to deliver financial impact Elevate sales strategies by innovation on analytics 3. Innovate Account-based targeting instead of member-based, capturing/summarizing signals intelligently Prioritize sales efforts by focusing on accounts that matters now 2. Optimize
- 33. LinkedIn has a Unique Mix of B2C and B2B Business B2C Business to Consumer B2B Business to Business Analytics is the key to bridge the gap
- 34. 34 One Two Punch – combining APS and IPS • Field uses APS to decide which accounts to target • IPS decides which members to target • Combine both models (One Two Punch) Punch 1 – Identify account to target Punch 2 – Identify who within the account to target
- 35. 35 Using IPS in field - Opportunities are 1.3x more likely to hit contract stage if saved leads have high IPS Contract No Contract % of high IPS leads per opportunity
- 36. 36 One-Two Punch – Accounts with high APS and high IPS contacts are 1.4x more likely to enter into contracts High IPS Low IPS High APS opportunity win rate by contact’s IPS
- 37. Combining Online and Field Intelligence to elevate the Sales Process Without Score High APS + High IPS High APS Average 3.6x Deal Win Rate by Account Interest Score bucket
- 38. 38 Summary of One Two Punch • Finding high APS accounts to target, and then reaching out to high IPS members on those accounts (who will likely be a champion for Sales Navigator) can increase win rates significantly • Next Steps • Surface APS within Salesforce where sales reps can focus on prioritized information right where they work • Unlock online behavioral analytics through IPS for optimized prospecting efforts Work • Top to bottom account allocation based on Project One-Two Punch recommendation
- 39. We’re Hiring! 39
- 40. ©2015 LinkedIn Corporation. All Rights Reserved. Thank You!
Hinweis der Redaktion
- The power of LinkedIn’s platform grows exponentially as we continue to Add more members Get them to come back more often, and Give them more reasons to engage on the site These three actions drive network effects that form a virtuous cycle on LinkedIn. As membership grows, and activity on the platform increases, it improves the quantity and quality of data propagated throughout the network, which we then use to create better and more relevant products and services for our members and customers.
- Many people use iceburg to describe big data and big analytics. But most of the people only see the portion above the ocean.
- SSI is a great predictor of social selling behavior and IPS is for individual propensity to buy? What’s missing from the picture is account level targeting metric, and here is where APS comes in
- Here we show two companies that are highly similar in terms of SSI and SOP/ Sales Rep count, anyone what to guess which account has higher APS?