According to new IDC research, 84% of C-level / VP executives use social media to make purchasing decisions, but regulated organizations are challenged with governance and compliance complexity when selling and marketing via social networks.
Dan Swift of LinkedIn and David Ambrose of Smarsh discuss how regulated companies can leverage social networking to drive revenue and connect with customers more efficiently.
Learn more about social media compliance for regulated companies on our website: http://www.smarsh.com/social-media-compliance.
3. Changing buying landscape in financial services
Using LinkedIn Sales Navigator in a compliant manner
Measuring success of your LinkedIn Sales Navigator program
Agenda
5. Your
competitor
Harvard Business Review 2012 – Tweet Me, Friend Me, Make Me Buy. Decision makers are C-level
90%
of decision makers say
they never respond to
cold outreach
FACT: Decision makers now ignore cold outreach.
You
Your
competitor
X
X
X
Your
prospects
6. are now involved in the
average corporate buying decision
people
Boss
Peer
Direct
report
Business
leader
Cross-functional
partner
Corporate Executive Board 2013 – Winning The Consensus Purchase
Business Owner
5.4
FACT: Decisions involve more people than ever
before.
7. 75%
of business owners now use
social media to conduct
research
IDC 2014 – Social Buying Meets Social Selling
FACT: People rely on social media when determining
their financial needs.
Network
referrals
White
papers
Company
websites
Blog
posts
Company
pages
Your
target buyers
Social
relationships
21. “Sales Navigator has a direct impact
on sales of financial products. The ROI
on the meetings we’ve obtained by
using LinkedIn and the educational
curriculum is 400%.”
-Martin Gagnon, Senior VP of Intermediary Business Solutions, National Bank of Canada
National Bank of Canada forms one of Canada’s leading
integrated financial groups, and has been named among the 20
strongest banks in the world by Bloomberg Markets.
22. 7%
36%
other Top 25
22
LinkedIn Sales Navigator works
Sales reps using LinkedIn Sales Navigator are 5.2x more successful than
their peers
Sales reps not on
LinkedIn Sales
Navigator
Sales Navigator users:
Do 4.3x more searches for
prospects than their peers
View 2.1x more pages than
their peers
Are connected to 2.0x more
people than their peers
Sales reps w/
LinkedIn Sales
Navigator
5.2x
Data is from April 2013. Data is for 14 of 17 sales reps that were provided that could be matched. Growth in Monthly Net Sales is calculated as average sales from July 2012 to
November 2012 vs. average sales from December 2012 to April 2013
Average growth in
Monthly Net Sales after activating
LinkedIn Sales Navigator
23. “Sales Navigator has allowed
us to get in front of companies
that we weren’t able to
connect with in the past.”
-Richard Kopelman, CEO & Managing Partner, Habif, Arogeti & Wynne, LLP
Habif, Arogeti & Wynne, LLP is the largest independent accounting and
business advisory firm headquartered in Georgia, and one of the top 50
firms in the United States. The Firm provides a wide range of financial
solutions to more than 15,000 clients in a variety of industries.
24. “Sales Navigator gives us the ability to
get access to buyers who we couldn’t
previously reach, and in a way that is
more efficient than simply cold-calling
and hoping for a response.”
–Regina Spratt, US Sales Leader, Marsh
Marsh is a world leader in delivering risk and insurance services
and solutions to its clients. From its founding in 1871 to the
present day, Marsh has provided thought leadership and
innovation for clients and the insurance industry.
25. “I called on companies for 2 years
without getting a meeting, and within
3 months of using Sales Navigator, I
was able to get in the door.”
“We haven’t found a better source for
getting to the proper contact as quickly
as we can with LinkedIn Sales
Navigator.”
–Lynn Sigfred, Vice President, First Business Bank
First Business focuses exclusively on the specific needs of
businesses, key executives, and high net worth individuals
seeking a higher level of financial service and expertise.
32. “Social media, including LinkedIn, is
an essential communications channel
and business tool for our firm. With
Smarsh, we’re able to meet
our compliance requirements without
placing a burden on our IT
department, as the platform allows us
to seamlessly control, authorize and
monitor users.”
-Jesse Reinfelder, Compliance Officer, Rosenblatt Securities
Rosenblatt Securities was founded three decades ago with a
simple goal: help institutional investors prosper with trusted,
conflict-free advice and expert trade execution services.
34. Social selling leverages
your professional brand to fill your pipeline
with the right people, insights,
and relationships.
Social selling helps you adapt to the buyer’s new process
35. 35
What’s LinkedIn’s Social Selling Index?
First-of-its kind measure that measures your company’s
adoption of social selling practices on LinkedIn
• Gain visibility into your
company’s activities
• Uncover new opportunities
• Benchmark yourself against
peers and competitors
36. How can you use LinkedIn to socially sell?
Establish a professional presence on
LinkedIn with a complete profile
Create a professional brand
Prospect efficiently with powerful
search and research capabilities
Find the right people
Discover and share valuable information to
initiate or maintain a relationship
Engage with insights
Expand your network to reach prospects and
those who can introduce you to prospects
Build strong relationships
37. SSI leaders create
45% more opportunities per quarter
than SSI laggards.
SSI leaders are
51% more likely to hit quota
than SSI laggards.
45%more opportunities
51%more likely to hit quota
Based on a global study LinkedIn ran in Q4 2013 of Q3 performance for reps focused on new business and reps
focused on existing business. Respondents reported performance; they were matched to their LinkedIn profiles
to understand their SSI.SSI leaders have an SSI > 70; SSI laggards have an SSI < 30
Why is social selling important?
38. Create a professional brand
Find the right people
Engage with insights
Build strong relationships
9.4
3.9
1.1
6.7
Social Selling Index 21.1
Social Selling Index measures
adoption of LinkedIn social selling
practices on a 0-100 scale
SSI is how LinkedIn measures social selling
Performance on four key
dimensions, each worth 25 points
Company X:
Company
Based on Linked members who report working at your company who have sales titles or sales keywords in their headline.
All sales pros
39. Create a professional brand
Find the right people
Engage with insights
Build strong relationships
9.4
3.9
1.1
6.7
Social Selling Index 21.1
Company X
How do you compare to industry average?
9.0
4.1
1.2
5.5
19.9
Industry
Company X:
Based on Linked members who report working at your company who have sales titles or sales keywords in their headline.
All sales pros
40. How do you compare against your competitors?
Weaker
social selling
Stronger
social selling
118
Peers:
of
• Company A
• Company B
• Company C
• Company D
• Company E
• Company F
• Company G
• Company H
• Company I
• Company J
Company X:
Based on Linked members who report working at your company who have sales titles or sales keywords in their headline.