Cross the Chasm HOW TO CAPITALIZE ON THE SOCIAL SELLING TREND

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A MESSAGE TO THE It seems every few years new sales methodologies are developed to help. sales teams keep pace with changes in how buyers make purchases And. PROGRESSIVE SALES more are bound to come No matter what methodology your organization. has adopted it s clear that your process is incomplete without the addition. PROFESSIONAL of social selling tactics, In a relatively short time selling via social media has dramatically changed. and improved how sales reps find connect with and engage prospective. buyers along their path to purchase Simply put sales reps that excel at. social selling are helping their organizations drive significantly higher. revenues Those organizations that bet big on this winning approach sooner. than later will outpace their competitors and significantly impact the top line. Rather than start from scratch you and your team can learn from the sales. organizations succeeding with social selling While every organization. adopts the approach that best suits its needs the leading ones all embed. the following practices, Executive alignment Build support for social selling by leading from the top. Education Maximize adoption of social selling with best practices. Measurement Motivate the sales team and drive the ROI of social selling. Read on to understand how effective social selling translates into a. competitive advantage best practices employed by leading companies. and ways that your organization can transform its sales approach now to. drive better results,Alex Hisaka,Content Marketing Manager. LinkedIn Sales Solutions,TABLE OF CONTENTS, 1 Social Selling Unlock 4 Blueprint for Success Transforming. Competitive Advantage 1 Your Sales Organization 17. 2 The Linkedin Social 5 The Future of Sales,Selling Journey 9 on Linkedin 22.
3 The Science of Social Selling 6 It s Time to Leave the Era of. Measuring Adoption and Results 13 Cold Calling Behind 25. SOCIAL SELLING,UNLOCK COMPETITIVE,We are in the early majority stage of. crossing the chasm How are you going,to take advantage of this moment in. Mike Derezin VP of Sales,LinkedIn Sales Solutions,Capitalize on the Social Selling Trend 1. SOCIAL SELLING,UNLOCK COMPETITIVE, To understand the shift in focus that companies need to. make today how do we think about the advantages that. come to those who move first, Not long ago the concept of sustainable Enter the wisdom of Columbia Business.
competitive advantage reigned supreme School Professor Rita McGrath In her seminal. The idea was fairly simple companies built book The End of Competitive Advantage. a fortress so to speak around what they How to Keep Your Strategy Moving as Fast as. felt was a defensible offering or capability Your Business she upends the fundamental. They dedicated most or all of their notion of sustainable competitive advantage. resources to maintaining and capitalizing Instead she suggests a strategy based on the. on their set position for as long as possible idea of transient competitive advantage As. Unfortunately this led to complacency as she explains to win in volatile and uncertain. these companies enjoyed the spoils of their environments executives need to learn how. conquests they felt little urgency to pursue to exploit short lived opportunities with. new opportunities and innovations speed and decisiveness. Skip forward to today and we see that this,approach has fallen by the wayside With so. many innovations being launched quickly,and frequently companies that stay static. find themselves left behind,Capitalize on the Social Selling Trend 2. SOCIAL SELLING UNLOCK,1 COMPETITIVE ADVANTAGE, In a nutshell the idea is to seize mass market Those willing to try new. opportunities exploit them and then technologies are risk takers while the. move on quickly once the opportunity has rest of the population is much more. been exhausted But keep in mind that conservative And though early adopters. transient opportunities aren t fads that and innovators take on high risk if their. come and go the transient opportunity investment pays off and their chosen. refers to the window when a company is path proves popular enough they are. gaining advantage and its competitors rewarded with high returns Put another. are not The question for organizations way those who jump on an opportunity. becomes How do you take advantage early stand to win big while those who. of these transient moments when they wait to see whether or not it will pay off. come And how can we apply this to the enjoy fewer rewards. social selling opportunity To answer,With that in mind what is your.
this question let s take inspiration from,organization s strategy when it comes to. another seminal work Crossing the,jumping on the opportunity presented by. Chasm by Geoffrey A Moore,the social selling journey How can you. In his book Moore argues there is a take advantage of this early phase of the. gap between the early adopters and social selling trend and reap the high. innovators of any technology and the rewards being enjoyed by early adopters. High risk No risk,high reward no reward, INNOVATORS AND EARLY MAJORITY LATE MAJORITY LAGGARDS. EARLY ADOPTERS, Those who jump on the social selling opportunity early stand to win big while those who wait.
to see whether or not it will pay off enjoy fewer rewards. Capitalize on the Social Selling Trend 3,SOCIAL SELLING UNLOCK. 1 COMPETITIVE ADVANTAGE, Before you devise your social selling strategy market at some point in the future In fact it Today the company is recognized as an. it s important to learn from other early invented the first digital camera in 1975 But industry innovator and is rewarded in the. adopters and innovators Namely you need it fundamentally misjudged this trend s pace form of over 14 million weekly visits to its. to understand what to do with this trend and Kodak didn t sell digital cameras to the masses digital properties across web mobile and. when to jump on it until 2001 Unfortunately by sitting too long tablet platforms Walgreens mobile app. on what was once its sustainable competitive drives about 40 percent of the retailer s digital. First you must realize that each trend moves at, advantage analog film cameras Kodak was traffic while features like Refill by Scan and. its own pace Consider the rise of the internet, unable to capitalize on this industry changing QuickPrints demonstrated how digital can. When this global network of networks and the, trend The story of Kodak s demise ended in transform an underlying business Walgreens.
first web browsers entered the commercial, 2012 when it filed for bankruptcy 2 crossed the chasm because it spotted the. world in the 1990s many businesses stood,trends early had the courage to act on them. back and watched because they couldn t Spotting a trend isn t enough you have to. and continues to innovate, grasp the full impact of this emerging trend know the pace of a trend to act in the window. In 1991 a mere one million people worldwide of opportunity Let s see what a winner looks. used the internet Five years later the internet like when it comes to the digital trend. was no longer a trend but the norm and over,Walgreens the largest drug retailing chain. 77 million people were online 1,in the United States disrupted its own.
When a trend emerges and starts to build business model because it recognized how. momentum you can capitalize on the the healthcare industry was changing In 2008. opportunity by being proactive But if you Walgreens differentiated itself by adopting a. miss the wave you can get caught in an digital intensive strategy and growing its digital. endless catch up cycle which can prove fatal division from a small team to one consisting. for some companies of hundreds of employees across four offices. worldwide To cross the chasm Walgreens,Take Kodak Kodak s competitive advantage. had to balance two things 1 becoming a,was around its analog cameras and film In the. leader in emerging arenas like mobile and 2,1970s Kodak controlled almost 70 of the US. modernizing its existing properties 3,film market This market leader believed digital. photography would become a mass consumer, 1Wikipedia Global Internet Usage 2015 2The Wall Street Journal The Demise of Kodak Five Reasons 2012 3EY Walgreens.
Strategic Transformation 2012,Capitalize on the Social Selling Trend 4. SOCIAL SELLING UNLOCK,1 COMPETITIVE ADVANTAGE, We re seeing a similar transformation is repeatable and scalable And you ve Buyers are more likely to engage with a. in sales Sales is undergoing a universal achieved success with this approach salesperson if. and fundamental shift in order to meet for some time But as the previous. the demands of a more informed and examples demonstrate resistance Their company is well known and. increasingly digital world of buyers to change can prove the downfall of has a strong professional brand. The sales rep is no longer in charge in even market leaders And resistance to. fact it s quite the opposite the buyer change is what stops many companies. now holds the power Buyers prefer to from fully adopting social selling But Mentions specific information. access information at their own pace and considering that today s buyers complete 71 relevant to their current job. convenience This change in the buyer 70 of their purchase before contacting. seller power structure demands a large a salesperson 4 this resistance seems. scale shift in mindset and an openness counterproductive. to embrace new methods in order to 59 Mentions a common colleague. There s no denying that it takes some,succeed Many are finding success by. work to restructure an entire business,adopting social selling in other words. around social selling And it s certainly,driving sales using social media This trend.
easier to keep doing what you ve always,and approach is changing the face of sales. done But take note digital disruption Buyers don t engage with a salesperson because. for the better by improving the entire,means that it s no longer an option to. process for both the buyer and the seller, maintain the status quo and companies The product service is not. Even with all the significant and will see a significant drop off in sales 89 relevant to their company. measurable results countless reps have if they don t embrace and incorporate. achieved through social selling many social selling into their sales processes. sales leaders are resistant to change, Perhaps you re one of them We get it 71 It s not the right time in the buy cycle. you ve established processes tools and,methodologies to ensure your approach.
They aren t the right person,50 to connect with about new. product services,LinkedIn Insights Survey 2014,Capitalize on the Social Selling Trend 5. SOCIAL SELLING UNLOCK,1 COMPETITIVE ADVANTAGE, Assuming you re convinced that social selling is a trend you can t afford to sit back and watch the next question is how do you move forward with it. With any business initiative you need to measure the results of your efforts to determine whether or not your investment is paying off And with the. Social Selling Index SSI from LinkedIn you can gauge the success of your social media efforts and make sure you re on the right track SSI helps you. measure how individual sales reps and entire teams are performing when it comes to social selling. SSI measures how well sales reps perform across four key areas to generate a score. CREATE A PROFESSIONAL BRAND BUILDING RELATIONSHIPS. In today s world 77 of B2B buyers are going on social networks Many companies still rely on outdated methods such as cold calls to. for information about the products and services they are build relationships But this tactic is less and less effective and can. considering 5 It s imperative that your company and its army of even damage your brand In fact 90 of decisions makers don t. salespeople are presenting themselves in the best light respond to cold outreach 7 The good news is that social selling. enables an alternative approach warm introductions that is when. an established connection facilitates an introduction. FIND THE RIGHT PEOPLE ENGAGE WITH INSIGHTS, According to CEB over 5 people are involved in the purchase Today s buyers aren t just looking for information they want to gain. decision making process 6 While the concept of purchase by knowledge that will inform their purchase decision Your sales reps. committee isn t new to sales today more people are on that can answer this call by publishing and sharing content Let s be clear. committee and we see more consensus buying then ever before we don t mean your reps have to produce content but it s important. Unfortunately most sales reps use a single threaded sales that they like and share content This allows them to demonstrate. approach nurturing and depending heavily on one relationship that they are aware of the issues that matter to their prospects and. within a company as they try to make a sale Instead they should are focused on helping and not just selling It also makes it possible. map out each target account and the key influencers in the for them to scale their reach in a way that simply isn t possible with. decision so they can build consensus for a purchase face to face interactions. LinkedIn Insights Survey 2014 6CEB Sales Why You Should Teach Customers How to Buy 2014 7 LinkedIn Insights Survey 2014. Capitalize on the Social Selling Trend 5 We re seeing a similar transformation in sales Sales is undergoing a universal and fundamental shift in order to meet the demands of a more informed and increasingly digital world of buyers The sales rep is no longer in charge in fact it s quite the opposite the buyer now holds the power

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