Business Bedrock

Social selling - the jury is in!

Just as occurred some years ago with global warming, there are people both scared and dismissive of B2B social selling.

The reasons why executives are scared of social selling are well documented. That being said, there are some hugely successful global business leaders using social selling tactics incredibly well, some of which even admit they could not operate without it!

Increasingly though, there is a mounting case of statistical evidence to point to the success that social media can provide if successfully mixed into the sales process. We thought we'd share some of the most compelling statistics with you.

Consider the following:

• Some 72.6% of sales people using social media outperformed their sales peers, and exceeded quota 23% more often
• Social selling increases total team attainment of sales quota, improves customer retention rate, increases sales forecast accuracy and increases the percentage of sales reps making target
• Some 3 in 4 IT purchasing committees are ready to have a conversation with a new vendor on social media
• Some 68% of IT buyers are open to connecdting with vendors via social media and 76% are ready to have a conversation via social media

We could list countless more statistics - but the case is inarguable.

So - why aren't more sales teams getting on board?

In our view, the problem lies in the training strategy. The emphasis is usually placed on training sales teams on individual platforms ("Come on everyone - let's attend this course on how to use Facebook to sell") rather than on selling techniques that happen to include (relevant) social platforms. 

We need to constantly remind ourselves that we need to learn about selling - not about social media!

At Carpe Diem we've had great success training sales teams on sales workflows that include social media, even though these workflows might span a number of social media platforms. We concentrate on teaching about how to sell more effectively and only focus on platforms relevant to the business we're training. 

What are these workflows?

• Finding new opportunities
• Finding new prospects
• Being introduced to new prospects
• Tracking competitor activity
• Maintaining thought leadership and "top of mind" with customers
• And so on.

See how your organisation's social media adoption is faring against others in it's space by participating in our annual "social media trends in B2B organisations" survey.

If you want your sales teams to start winning more deals, we're holding a bootcamp "Leveraging social media for sales success" on October 24 in Sydney (also 21 November in Brisbane) in response to the hundreds of people who come though our doors armed with the stats that prove social selling is having traction. 

The bootcamp will introduce and build on the key new concepts and skills required to create and implement a successful social media strategy for B2B sales. You will walk away with an action plan that will be followed up by the instructor after the session to ensure you are implementing what you have learnt.

Digital Marketer of the Future – 4 trends disrupting the way we work

By Melanie McKinney, Marketing Consultant at Carpe Diem Consulting. 

Last week's blog was all about the exponential change that is effecting the Digital Marketer of the Future. This week's blog is all about the 4 trends that are disrupting the way we, as marketers, work. 

1. New customer journey

• Zero Moment of Truth (ZMOT)

Before consumers are purchasing, they use the web to talk to peers and find out information about the product or service they are thinking about buying. Find out more here: Zero Moment of Truth. 

• Consideration of Omni-channel rather than Multi-channel.

Multi-channel means different messaging comes from different channels all around the same product / company.

Omni-channel means a unified customer experience that acknowledges the different ways the product is marketed and purchased. All channels need to be fully integrated.

• Mobile landscape shifting rapidly

- In 2013 mobile internet usage will overtake desktop usage
- Australia has 2^nd largest mobile penetration in the world
- 41% use mobile as primary device for accessing social networking sites
- 36% use mobile as primary device for search
- The scariest thing about these facts are that in Australia, people spend 30% of media time on their mobile but the advertising industry is spending only 0.001% of their budget on mobile.

Impact?

• It’s never been more important to understand HOW your customers buy and how that changes your strategy. This effects B2B too – they way your customers buy has changed. You can learn more about this at our How to get on your buyer’s shortlist event, taking place all over Australia.
• It’s never been more important to understand how marketing activity translates into business objectives.

2. Social reengineering

• Social media shouldn’t be about “media” (which media platforms you use), it’s now all about the “social” part.  It is about changing the whole company’s relationship with consumers.
• Australians spend more time on social networks than anywhere else in the world. This creates a huge opportunity for marketers whether you are B2C or B2B. If your company isn’t social, you will miss out on sales.
• Read about the first crowdsourced Nissan Z

Impact?

• Collaboration is essential to make your company social. Cross-functional teams with shared decision-making.
• Marketers should stop trying to “own” social media and get everybody in the business involved. They should manage this process and facilitate this process – not get in the way.

3. Multi-screening  

Multi-tasking is standard.

 

80% use smartphones while:

• watching tv 48%
• using internet 34%
• watching film 29%
• playing video games 16%
• listening to music 46%

 Plus:

• People under 30 years old can do 5.4 things at once
• People who are 40+ can do 1.2 things at once

Impact?

• Are you just promoting your products / services on one screen or are you building multi-screen experiences for the multi-screen consumers? 

5. The Singularity

Ray Kurzweil (The transcendent man): “Technology is progressing at such a rate that it will intersect and surpass the processing power of the human brain”. He predicts this will happen 2029.

Scary stuff? It’s actually happening.

Examples:

• Connected devices - Evrythng
• Smart technology – Start Cap and Outback Steak House birthday chair 
• Wearable technology – Neurowear   

Impact?

• Are you building a culture of experimentation in your company?
• Have you found the right partners?
• Are you ready to fail sometimes?

 Panel pointers 

A few key pieces of advice from the panel experts:

• John Batistich - Director of Marketing - Westfield Group
• Matt James - Managing Director - Mi9 Media
• Niall Mckinney - CEO - The Knowledge Engineers

What skills do people now need?

• Businesses need their teams to collaborate; marketers now need deep technology skills and a large mirage of skill bases including sales, technology, and analytical skills. Matt James.
• Skills are only part of the mix. Test and learn with a sense of urgency and have the ability to take people with you. Encourage curiosity, creativity and imagination – this will allow you to adapt through this change. John Batistich.
• Digital is no longer a department. Data and data scientists are now no longer a small group of geeks – they’ve gone mainstream. John Batistich.

How to find people with this kind of talent?

• Recruit through social networks. There’s been a big change in the way we recruit from recruiting only when we need it to on-going recruitment so we create a talent pool or a talent pipeline. Create relationships now, then when / if a role comes up, you’re ready to go. John Batistich.

How to get your senior management to build this culture?

• Find out who the blockers are and who needs to be convinced – then use doses of fear (to motivate) change. John Batistich.
• Talk to them in their own language – make it highly practical and highly relevant to their business. Don’t talk blue sky and make sure you empathise with their concerns. Overusing fear can disable change too. Niall McKinney.
• Quantify it – can we afford to lose $20M if we miss out on an opportunity? Matt James.

If you work in B2B ICT and you think you / your company needs help addressing some of the issues above, download our related whitepapers on the topic. These are all specifically created for B2B ICT Sales and Marketing staff. You can also use our useful tool to evaluate the effectiveness of your content marketing program against the needs of the modern B2B buyer.

To learn more about the new customer journey, come to our How to get on your buyer’s shortlist event, taking place in Sydney, Brisbane and Melbourne which is aimed specifically at B2B ICT Sales and Marketing Directors. Spaces are limited so register today.

Digital Marketer of the Future – exponential change

By Melanie McKinney, Marketing Consultant at Carpe Diem Consulting. 

I went along to the Digital Marketing of the Future event last week - run by the IAB (Internet Advertising Bureau) and The Knowledge Engineers.  We were presented with insightful and forward-thinking content and a view we could not complain about (the venue was the top of Sydney Tower with panoramic views)! This week's blog is all about the changing digital landscape and will be followed next week with a blog identifying the 4 key trends disrupting the way we work. 

Speakers:

• Sam Yorke –  Acting CEO & Head of Regulatory Affairs - IAB
• Niall McKinney – CEO – The Knowledge Engineers 

Panellists:

• John Batistich – Director of Marketing – Westfield Group
• Matt James – Managing Director – Mi9 Media

The changing landscape

With statistics such as “Digital ad spend is about to overtake free-to-air TV” and “182% increase in mobile ad spend growth from 2012 to 2013” – it’s clear that the way marketers are interacting with their customers is changing – and this applies to B2B marketers too. This is partly due to the changing ways consumers (and businesses) purchase products. The progression and adoption of Digital – whether it’s simply Google searching or advergaming – has changed the way customers purchase forever. 

To set the scene, Niall McKinney, CEO of the Knowledge Engineers (and my brother!) shared a very thought-provoking quote from James Cameron who spoke with the Editor of one of TKE’s products (12ahead.com). He said: 

 “All the skills I have learned as a young film-maker have changed. Each tech skill I learned at the time is obsolete. But I am not obsolete. We created a brand new toolset to expand what we can do as story-tellers”.

Exponential change examples

“The computer in your cell phone today is a million times cheaper and a thousand times more powerful and about a hundred thousand times smaller” (than the one computer at MIT in 1965).

1. The average number (across all categories and all industries) of sources consumers use before making a purchase:

• 2010 it was 5.2
• 2011 it was 10.4
• For B2B businesses, the numbers are likely to be on the higher end of this spectrum. When a business is parting with a large amount of money they do their homework – and may have multiple people working on this homework at one time (as opposed to one consumer looking to buy a new teapot).

2. Volume of mobile data used by the average person (in the world) every year:

• 2010 it was 55MB
• 2011 it was 150MB
• 2012 mobile internet overtook fixed line in India (and in China this year).

3. Some 90% of the world’s consumer data was created in the last two years. The majority of this data is unstructured.  

What does this means to marketers and how we do business?

• Skills: The world has changed and our skills as marketers have to change with it. We are not obsolete – but we need new skills to keep on top of these changes.

• Speed: We need to be able to quickly change our business models and marketing / sales practice when it’s needed - rather than following fads.  

• Change: We need the ability to change - in our own roles and in our companies. Our places of work have to nurture this.

If you work in B2B ICT and you think you / your company needs help addressing some of the issues above, use one of our self-assessment tools to identify where your weaknesses are. These are all specifically created for B2B ICT Sales and Marketing staff: 

1. Evaluate the effectiveness of your content marketing program against the needs of the modern B2B buyer.
2. Assess your business to see if social media is being used to maximise your marketing & sales outcomes.  

To learn more about the new customer journey, come to our “How to get on your buyer’s shortlist event” taking place in Sydney, Brisbane and Melbourne which is aimed specifically at B2B ICT Sales and Marketing Directors. Spaces are limited so register today.

 

Helping organisations change - think of the dentist

Great to see McKinsey bringing to our attention a series of "classic" articles - the most recent being a seminal 2003 article about the need to consider psychological factors in achieving major organisational change.

How often have we seen real need for organisational change - particularly in the midst of the internet era, global financial crises etc - yet despite this obvious need the big workforces just can't seem to change to help themselves.

The McKinsey article reports that - for change to occur:

• employees have to have a purpose to believe in (so they can understand the role their new actions will have, so that their contributions make sense and they have something to believe in - failing this cognitive dissonance will set in ie "why am I doing this - really!")
• employees' rewards have to be consistent with the behaviours required once the change has happened (eg there is no point exclusively rewarding sales revenue performance if the firm's strategy is to lead in positive customer experience - if great customer experience will lead to competitive advantage and hence revenue, just reinforce giving good experiences - the revenues will come!)
• give employees the skills they need to behave differently (and don't do this just by sticking them in a classroom - checkout Kolb's work on 4 phase adult learning)
• provide consistent role models (ie walk the talk).

This is all good - but I think it ignores a powerful human foible.

We need to perceive a crisis to really move out of our comfort zone and change!

How often have we heard stories about people adopting a healthy lifestyle only AFTER they've had some life threatening illness or episode?

And think about the dentist - we rarely change our schedules to urgently rush off for a checkup - but we certainly change our schedules as soon as we have a painful toothache!

The same applies in sales - the successful Solution Selling methodology tells us that, unless we can find a problem that customers urgently need fixing, then there will be no sale.

If we turn to the gurus of change management - in particular thought leader John P. Kotter - we'll see in his Eight-Stage Process of Creating Major Change that the very first step is to create a sense or ugency - "identifying and discussing crises, potential crises, or major opportunities".

So - given all of this - how do we get the organisation to change for the better BEFORE any crisis hits?  This is one of the key skills of the leader.  An open and transparent approach to the organisation, explaining the opportunity that can be achieved - and then motivating everyone to change direction BEFORE the crisis hits.  Core leadership skills here - being able to paint a concrete picture of where the oragnisation is heading and what the pitfalls will be; again painting a picture of the opportunity that lies in the alternate direction, and importantly what it means for everyone in the organisation.

But - despite best leadership efforts - not everyone will want to "step on board".  In fact this "on board" metaphor is a core element in going from "Good to Great", as espoused by Jim Collins - although interestingly if we follow his blueprint in becoming a "great" company, we'll actually get the "right" people on the bus - and ONLY THEN we'll figure out the best path to greatness.  "First who - than what."  Jim actually disagrees with the concept of creating change via crisis: Companies that make the change from good to great have no name for their transformation—and absolutely no program. They neither rant nor rave about a crisis—and they don't manufacture one where none exists. They don't “motivate” people—their people are self-motivated.

So - what's your plan to change your organisation for the better?  Do you have the right people on the bus?  Irrespective of who's on the bus - if you're looking to instittue change, are you giving people a sense of  urgency to change their ways?

It's tough at the top......