LINKEDIN’S DEFINITIVE GUIDE TO SELLING TO MULTIPLE DECISION-MAKERS I’ve had the opportunity to talk to a number of business leaders — ranging from small businesses to global enterprise companies to subject matter experts — using INTRODUCTION social media to effectively grow their businesses. Throughout my conversations with them, one worrying theme has emerged: They vastly overestimate how well- connected their sales teams are with their client organizations. Not just by a little, but by a lot — and this puts them at risk of revenue loss.
This gap between perception and reality should worry sales leaders deeply. Think about what would happen if your most successful salesperson left your organization, or your most vocal sponsor at your biggest client changed roles or left the company. How would that change your relationship with that client, and how would it affect your business?
How well-connected you are with your clients will have a direct impact on your ability to hit your targets. Relying on one connection puts your business at risk of losing revenue if anything happens to that connection.
There’s good news: This risk can be avoided if you take a new approach to making connections, one focused on forming multiple relationships at each client company to create a strong network of ties to the organization.
In this guide, you’ll learn everything you need to know about selling into multiple lines of businesses. After reading it, you’ll have a much deeper understanding of what it is, why your business needs it, and how to develop your own matrixed sales approach for driving real results.
Let’s get started, shall we?
Alex Hisaka Head of Global Content LinkedIn Sales Solutions
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 2 TABLE OF CONTENTS
INTRODUCTION 2
CHAPTER 1: MORE COMPLEXITY, MORE CHURN 4
ASK THE EXPERT 8 Kae Kronthaler-Williams, Qvidian Fady Daher , American Express Morgan Jones, Televerde Europe
CHAPTER 2: BREAKING FREE OF THE ONE-RELATIONSHIP HABIT 11
ASK THE EXPERT 15 Robert Knop, Assist You Today Fabian Au, IBM Digital Group Paul Lewis, Pitney Bowes
CHAPTER 3: USING LINKEDIN TO CONNECT WITH MULTIPLE DECISION-MAKERS 18
ASK THE EXPERT 22 Gabe Villamizar, Lucid Software Inc. Wendy (McEwan) Hogan, Oracle Xavier Monty, Talentsoft
CASE STUDIES 25 HCL Technologies NewVoiceMedia PGi
CONCLUSION 29
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 3 MORE COMPLEXITY, MORE CHURN
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 4 MORE COMPLEXITY, B2B purchase influencers MORE CHURN are distributed across divisions and functions: It’s natural for a salesperson to gravitate toward a single contact person at a client company as the sales process progresses. You’ve spent a great deal of time together, and the conversations have probably included a few anecdotes about the people you know and where you say the role of went to school. Over time, you discover that you have several things in executives in common and develop a personal relationship. 39% purchasing decisions has grown
However, there are several people of influence Purchasing Decisions Are Cross-Functional involved in a typical B2B purchase. In fact, Not only are there more decision-makers there is an average of 6.8 people involved say the role of than ever before; they’re also more diverse. in each B2B purchase decision, according operations in to CEB — up from 5.4 in its previous research. Driven by a decentralization of organizational 36.5% purchasing decisions That growth trend is reinforced by the 2016 structures, the people who influence a has grown B2B Buyer’s Survey Report from Demand Gen purchase are likely to be distributed across Report, which found that more than one-third divisions, functional areas and even regions of (39%) of B2B buyers say the number of team the world. For example, C-level executives, line members involved in the purchase process of business owners and business managers increased in the past year; 6% say it increased all often play a role. In Demand Gen Report’s say the role of significantly. In addition, the bigger the sale, 2016 B2B Buyer’s Survey Report, nearly 40% 32.7% financein purchasing the more people have input. Purchases of of buyers say the role of executives in decisions has grown more $500,000 and up typically involve five purchasing decisions has increased, than one-third (37%) say the role of operations or more buying centers and six to 10 — sometimes more, according to has increased, and nearly one-third (33%) say colleagues Source: Demand Gen Report SiriusDecisions’ 2015 B-to-B Buying Study. the role of finance has increased.
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 5 MORE COMPLEXITY, MORE CHURN
Don’t Underestimate the Role of Influencers B2B Sales Cycles Are Expanding
In addition to the actual decision-makers, At the same time that individual tenure is there are hidden “influencers” on purchasing shrinking, the B2B sales cycle is lengthening as whose interests and goals may be less than companies spend more time debating purchasing transparent to sales reps — that is, if reps decisions. Smaller budgets, increased scrutiny to even know who they are. “There is a shadow by senior-level executives and the need to justify 6 10: of decision influencers behind the decision- spending make proving ROI more important than The number of people maker. Those in the shadows always impact ever. According to Demand Gen Report’s 2016 involved in purchases of whether a large deal will be awarded to you or B2B Buyer’s Survey, more than 6 in 10 B2B a competitor — or whether the status quo will buyers say they have started conducting $500,000 or more be kept in place. They are not decision-makers. more detailed ROI analyses before making a They can’t say ‘Yes.’ [But they] have the power purchase. Eighty percent say they spend more Source: SiriusDecisions to resist or delay your proposal,” writes TOPO time researching purchases than they did the analyst Tom Searcy in Sales Management previous year, and 73% say they use more sources Digest. Failing to build strong ties to even one to conduct research and evaluate their options. of these decision-makers or influencers could result in the collapse of important deals and, Client Churn Threatens ultimately, in revenue loss for your organization. Business Relationships
Turnover Is Accelerating for Even after the sale is closed, what happens if Decision-Makers your key contact in the client company leaves or moves to another position in the organization? 1 in 5: Turnover is another factor in the growing His or her replacement may have relationships The number of complexity and urgency of the sales process. with your competitors, or seek change for its The length of time an individual typically own sake. In SiriusDecision’s research, more decision-makers spends in a role is shrinking across industries. than 4 in 10 (42%) of B2B customers say (director-level-and-above roles) According to LinkedIn data, 1 in 5 decision- they’re unsure about renewing with current makers (defined as those in “director-level- vendors. No matter how long-standing your who turn over every year relationship, if you no longer have a contact at and-above” roles) turns over every year, Source: LinkedIn and average tenure for the executive-level team the client company willing to advocate for your members is two-and-a-half years. When your business, the account could be in jeopardy — organization is selling multiyear relationships and you could find yourself rapidly writing down and the sales cycle is 12 months, 18 months or your next forecast amid risk of revenue loss. longer, the risk that a crucial contact will move on before you can close the sale is very real. And that’s just the churn on the client side.
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 6 MORE COMPLEXITY, MORE CHURN
Turnover for sales reps is nearly 1 in 4 per account, runs the risk of being generic with year, according to CSO Insights’ 2015 Sales your message,” writes Carlos Hidalgos, CEO Productivity Optimization Study, and turnover of Annuitas in his “Shiny Objects, Demand rates are on a growth trajectory, rising by 35% Generation and ABM” blog post. Connecting since 2014. In the Inside Sales for SaaS report with more than one person allows you to tailor by Bridge Group, 12% of B2B companies your approach not just to the account, but also report that sales rep turnover is an to each individual. astounding 55% annually. The smaller your organization’s sales team, the greater impact Yet the vast majority of sales teams are this type of turnover has on your ability to close lagging behind when it comes to developing sales. For a small company, with a modest- multiple relationships with customers. For sized or even one-person sales team, your full instance, in North America, just 9% of In North America, sales function could turn over in the course sales reps’ relationships are matrixed, of 12 months. If losing a sales rep costs you and 65% of customer relationships rely just 9% of sales reps’ his or her contacts at client companies, your solely on one contact, according to organization could face major revenue loss. LinkedIn data. relationships are matrixed, Current Sales Strategies Demand Added together, these factors could lead to Matrixed Relationships revenue loss of up to 40% for your company. and 65% of customer As B2B sales become increasingly complex, As account-based marketing takes hold at and churn among both sales and client teams relationships rely solely on many organizations — 80% currently have grows, companies who might have once a strategy or plan to develop one in the relied on the one-to-one relationship between one contact. next 18 months, according to Demand their salesperson and a specific contact at a Gen Report’s 2016 ABM Benchmark Survey client organization are rapidly discovering that Source: LinkedIn Report — forming multiple relationships at their strategy is no longer viable. It’s time for a client company becomes more valuable. organizations of all sizes to adopt a new way of “Simply focusing on accounts, rather than the thinking about their client relationships. people and the roles they serve as part of the
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 7 ASK THE EXPERT: KAE KRONTHALER-WILLIAMS Vice President, Marketing | Qvidian
LI: With more people involved in the buying LI: How do changes in internal and client roles LI: Are there any other trends that have process than ever before, what challenges have impact the way Qvidian finds and engages with influenced your strategies? emerged for Qvidian’s sales teams with this target buyers and influencers? KK-W: increased complexity? Account-based marketing and advocacy KK-W: Turnover within a client organization can be a marketing have really been around for a long time. KK-W: As more departments are now involved in the major obstacle. To combat this, it’s important to be The change is in the automation of marketing buying process, keeping track of relevant contacts proactive and identify a group of key decision-makers and what data insights it offers. Now, sales and and proactively finding new ones to engage with early on in the buying process. Building a strong marketing organizations have greater information has become more complex. By opening the lines relationship with one decision-maker is important, but on the buying behavior of their clients and of communication and knowing the right questions knowing additional staff that contribute to the process prospects. Sales and marketing teams work to ask, the Qvidian team is able to cope and thrive is important should the original contact leave. together to build very targeted account plans that despite this added complexity. result in deeper relationships with the customers LI: How have your processes changed as a and expansion opportunities within the account. Qvidian uses the “challenger methodology” to result of these trends? engage with prospects during the buying process — meaning Qvidian sales representatives are KK-W: In the past, the Qvidian team would be extremely knowledgeable about the prospect’s in touch with one or two contacts at the client business and industry. It’s important to have organization throughout the buying process. Now it the right information at hand when dealing with is vital to communicate with multiple individuals at prospective new clients to understand their pain the organization. points and how Qvidian is best able to assist. Qvidian attended the LinkedIn Sales Connect Social media channels, specifically LinkedIn, are also [conference] in NY … which reinforced the benefits important in locating the right people within departments of “multithreading” within a prospect account. that might not necessarily be present during initial The LinkedIn Sales Navigator tool enables the conversations. With the use of LinkedIn’s Sales Qvidian team to find the right contacts at an Navigator tool, it is easy to search for potential new organization, while also staying informed about contacts and take initial discussions to the next level. company and organizational changes.
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 8 ASK THE EXPERT: FADY DAHER Vice President, Global Commercial Payments | American Express
LI: What are the business trends you have LI: How have new marketing strategies LI: Which tools and processes have seen surface in Australia that have created a contributed to the complexity in your you implemented? more complex selling process? business as it relates to the sales team? FD: We have one consistent CRM that’s used FD: There is definitely an increasing amount FD: We’re leveraging data to better understand our across all teams: Salesforce. We’re capturing the of cross-border trade and international trade clients, and to better understand the patterns that customer-related data consistently, and we’re very transactions occurring. In the B2B space, we’re are occurring, so that when we feed information specific about what fields need to be updated. seeing an increasing requirement for lending and through to the customer, it is increasingly relevant, LinkedIn Sales Navigator is our primary preference. cash flow, and opportunities to improve cash and not just customers, but also prospects. If we’re We’ve made an effort to ensure not only do each flow, which is different to the traditional corporate feeding information to a prospect, it’s not just this of the functions within our business in Australia payment environment. standard mail that goes out to everybody, hoping have it, but also globally. You’ve got cross-border that we get a 1% response rate. It is now a lot relationships, and so, if we know that in You now have to deal with the traditional and the more specific and targeted and relevant, so that Singapore or in Hong Kong or in London we emerging trends, which also means different our response rates go from 1% to 10%. contacts within an organization. Historically, we have a relationship with someone who’s quite may have dealt only with procurement. Now important to making a decision, we know that we deal with procurement, treasury and finance we can go through our…colleague internally to teams, so you’re dealing with various aspects of help open a door and start a conversation. an organization. The importance of building relationships, the As the needs multiply, it means you can’t have a importance of building trust is evident and will one standard or one-size-fits-all approach. You always be there. When you build multiple need to start to improve your customization. relationships…it allows you to build trust quicker and ensures that everyone’s on the same page.
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 9 ASK THE EXPERT: MORGAN JONES General Manager | Televerde Europe
LI: How has the implementation of new marketing inbound and outbound outreach. We utilize social LI: Are there any other trends specific to your strategies heightened the need to engage beyond channels and events to reach targeted prospects region that pose risks and impact revenue results? a single relationship? Have you embraced these in countries with highly regulated email and phone MJ: tactics within your company and, if so, how has it restrictions. Securing opt-ins across all touch Brexit remains an unknown. Its greatest risk is impacted engagement and relationships? points is a key strategy. stalling growth plans in the UK because of economic uncertainties. Political changes in the US and how MJ: We have been using a strategic account-based LI: How have shifts in the economy in certain Europe will work with the new administration creates marketing approach with some of our clients. EMEA geographies impacted business and your more uncertainty. Attracting multinationals and We’ve recently implemented ABM globally, sales approach? How have these shifts influenced multilingual talent is very important to Televerde, leveraging our account reps across time zones or guided the way you and your team build and so we are watching Brexit closely. and adjusting to the unique needs and positioning manage relationships with prospects and clients? LI: What processes have you implemented to of the European marketplace. MJ: Digging into the nuances of each country assure your direct and inside sales teams adapt Social selling is another strategy we’ve been using to and understanding each market and their to these changes in their day-to-day activities? engage with prospects globally. By utilizing a platform economies is the key. We use segmentation MJ: We train our teams using our proprietary like LinkedIn, we’re able to quickly identify target tactics to focus on the industries specific to Global Campaign Excellence model and our accounts in specific industries with specific titles and each country to help home in on potential Call Performance Mastery program. The Global functions, and establish a common connection to [prospects]. The largest economies in Europe Campaign Excellence model combines 20 years foster conversations. (Germany, UK and France) are forecast to grow at a rate of 1% to 2%. Ireland, Poland, Romania of knowledge and experience generating demand LI: Are there any implications of stricter data and Slovakia are forecast to grow at a rate above and accelerating sales for our clients, along with privacy regulations in Europe, such as a 3%, and the others are in the middle. We use this industry best practices. Our Call Performance greater need for building relationships type of data to help understand how we should Mastery program ensures every agent receives beyond email, or retaining multiple and staff our team appropriately, as well as prioritize weeks of training and development, along with deeper account relationships? our market opportunities. certification levels — unprecedented for the industry. We are continually modifying campaign MJ: The stricter data privacy regulations have and data intelligence-gathering processes to had the biggest impact on our go-to-market plans ensure we are in compliance. and campaigns, which are dependent upon both
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 10 BREAKING FREE OF THE ONE- RELATIONSHIP HABIT
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 11 BREAKING FREE OF THE ONE-RELATIONSHIP HABIT
Today’s salespeople must develop strategies to ensure that they are interacting with everyone in the client organization who has a stake in the purchase. So how can you go from point-to-point to more matrixed relationships?
Start by instilling in your sales team the connections at a company gives you a fuller mindset that for each and every relationship picture of the client’s needs and makes it easier managed by sales, you must establish to deliver personalized, targeted content. multiple connections at a target company. This approach is critical to ensure that the deal The more connections you make at a progresses even if one contact leaves the client company, and the more you interact with organization or changes roles. them on social media, the more fully you’ll understand how the various decision-makers Then, take these four steps: and influencers work together. “[Sellers] need to go beyond just understanding how Step 1: Use social media to identify customers interact with them, to gaining decision-makers and influencers a thorough understanding of how they According to the 2016 ABM Benchmark Survey work, what is important to them and how they interact with each other,” notes Brent Report, 94% of companies using account- Adamson of CEB. Building relationships based marketing would like to identify through social media helps you learn who the target roles and titles at client companies, 89% want to add richer information on existing managers are within an organization, who contacts, and 87% seek to add intelligence and can say “yes” and who can say “no.” You’ll insights on key contacts. Social media can help also discover who can help make the deal you deepen connections in order to accomplish bigger by advocating for your business within many of these goals. Developing a web of the organization.
LinkedIn’s Definitive GuideDriving to Selling Social Mediato Multiple Adoption Decision-Makers and Revenue | 12 BREAKING FREE OF THE ONE-RELATIONSHIP HABIT
Step 2: Help customers cut through the noise By keeping you abreast of multiple contacts’ interests, concerns or questions, social media As buyers turn to social networks to exchange can alert you when the time is right to reach information, seek counsel and provide advice, out to prospects with useful content, jump on social media has become a major influence a call to answer questions or suggest a face- on B2B sales. In a 2015 Blanc & Otus and to-face meeting. G2 Crowd survey of B2B technology buyers, social networks, blogs and text messaging Step 3: Help buying teams build consensus accounted for 75% of how those buyers Social networks, blogs share information. Even when B2B buyers want to buy from you, it’s not always easy for them to do so. With and text messaging However, the sheer volume of content available a growing number of stakeholders involved online can overwhelm buyers and paralyze in purchasing, internal disconnects between 75% decision-making. Sorting through all the data individuals, departments and functions often account for of takes time: In a survey conducted by CEB, delay the purchasing process or derail it entirely. 84% of respondents said their buying Don’t count on one contact to make it work: how buyers share cycle was longer than projected in their initial CEB reports that 51% of customers who estimates. In fact, the average purchase took might be willing to buy from a supplier information. almost twice as long as originally expected. aren’t willing to advocate for the supplier internally to help get the deal done. Source: Blanc & Otus and G2 Crowd Speed the sale along by helping buyers cut through the noise. Go beyond the value your If they can’t reach consensus, frustrated buyers product or service offers; add value during the may choose the path of least resistance — research stage by providing information tailored either sticking with their current vendor or to the needs of your matrixed connections. buying the lowest-cost (read: lowest-risk) Getting the right information to the right person solution available — not necessarily the best at the right time is critical to moving the sale one. Even if they purchase from you, buying along the pipeline. A recent Demand Gen a less-than-ideal solution could backfire: Report survey found that nearly two-thirds Customers who end up regretting a purchase (65%) of buyers say the winning vendor’s are 53% more likely to advocate against that choices about how and when to contact supplier in the future, CEB research shows. them influence the buying decision.
LinkedIn’s Definitive GuideDriving to Selling Social Mediato Multiple Adoption Decision-Makers and Revenue | 13 BREAKING FREE OF THE ONE-RELATIONSHIP HABIT
By developing relationships with multiple As you cross-sell and upsell that customer, decision-makers, you can provide the you exponentially increase the customer information each person needs to help lifetime value. It’s a cost-effective, resource-lite the group reach an agreement. “The most approach to boosting sales. successful sales organizations work to identify and overcome the points of disconnect What about when your contact leaves a among those stakeholders, connecting these company and moves to a new role at a new stakeholders to one another and driving them company? If you’ve successfully cultivated a toward consensus,” according to CEB. When web of relationships at the client company, you you help buying teams reach consensus, you don’t have to worry about losing contact with make it easier for customers to buy from you the organization. Instead, you gain a potential — and CEB data shows organizations that new client as you and your colleagues reach make buying easier are 62% more likely to out to find additional connections at your convert high-quality sales. contact’s new organization and build on the original relationship. Step 4: Add value — for the customer and for your business For a company with 50 clients and five key Building matrixed relationships isn’t just a way relationships within each of those organizations, to defend against risk of revenue loss. It can using a matrixed approach could result in up to also be a hugely powerful tool for business another 50 new prospect targets each year, just growth and revenue enhancements. The more by mapping existing and potential connections, contacts you have at a company, the more and establishing the right relationships. chances you have to spot new ways you can add value to the organization. When any of your contacts move to new roles, departments or regions within the organization, seize the opportunity to explore additional ways your business can serve them.
LinkedIn’s DefinitiveThe Definitive GuideDriving to Guide Selling Social to MediatoManaging Multiple Adoption ComplexityDecision-Makers and Revenue in Sales | | 14 ASK THE EXPERT: ROBERT KNOP CEO | Assist You Today
LI: What are the risks of relying on relationships The day of the meeting, we started our pitch. Fifteen If you have multiple relationships at each company, it with one executive within target accounts? minutes in, the CMO stopped us and said, “I apolo- dramatically increases your network, which will allow gize, but I didn’t know what this meeting was about. you to request more warm introductions. The more RK: I’ve seen risks on both sides. From the corpo- We can’t do any of what you are saying. We don’t stakeholders you have a strong relationship with, the rate perspective, say you have a great relationship have budget.” lower the chance of you being supplanted if one of with one sales rep at a vendor. He/she gives you them leaves. a steep discount because [of your relationship]. It [We] wasted time and money that could have been comes time to sign a new deal, and if that contact is [better] spent on another potential client. We would no longer [there], your chances of getting that same have known better if we had done more research discount decrease. Let that vendor take you out to and had more contacts [there]. lunch once in a while, and make sure he/she brings their boss or another colleague. Connect with them LI: What steps do you advise people to take in on LinkedIn as well. order to assure they continually forge relationships with multiple stakeholders? From the vendor side, the risks … are even greater. If that executive is your only point of contact, and RK: LinkedIn is the main way I connect with addi- he/she leaves, you are in danger of losing a client. tional team members at an organization. Building the You can also lose a lot of time [by] only talking to relationship is all about adding value by … providing one person. Early in my career, I ran an [ad] agency. helpful information, sharing smart content and ping- I had been talking with a marketing director about ing them once in a while with an article that touches outsourcing certain roles and responsibilities to my on something you have spoken about previously. company. After six months of conversations and You can also stay top-of-mind by congratulating lunches, she set up time to meet with her CMO. I them on a promotion or a new role, and engaging spent hours with my team prepping. with their content.
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 15 ASK THE EXPERT: FABIAN AU Sales Specialist, Watson Analytics & Social Media Analytics | IBM Digital Group
LI: What trends or disruptions encouraged IBM to LI: Have any specific trends changed the way you LI: What tools and tactics have you transition from relying on single relationships to see and build these relationships? implemented to encourage executives to larger networks of target buyers and influencers? expand their networks and establish more FA: Yes, definitely. IT buyers think very differently profitable relationships? FA: The change in persona from traditional IT buyers from LOB buyers. Their purchasing behavior, such to line of business (LOB) buyers has disrupted how as how they like to be engaged and what value FA: The first thing to do is build up your own IBM used to work. LOB buyers now have more means to them, is very different from traditional professional profile on your social network, so decision-making and purchasing power as the buyers. The shift of buying power from IT to that people will know who you are and what you budget comes from them. Other demand includes business also means that there are more people do at a glance. Next, I’ve also started posting SMEs and new start-ups increasingly adopting to engage within a sales cycle, and each of and sharing content for two reasons: first, for technology. These are the people that IBM usually these people are looking for their own value. This people to notice me, and next, to know who are did not have relationships and contact with. complicates the sales cycle and thus affects the way the people interested in my content. Dropping a we need to build relationships. The good news is note to potential prospects is another good way LI: How did relying on single relationships impact that with prior information about your prospect, such of creating new relationships. I’ve shared [with my acquisition, retention and revenue growth? as what matters to him or what he does, you can team] the ways I structure my InMails, short-list help reduce some of the complexity. prospects, and tools such as HootSuite that I use FA: Limiting our relationship to just a single in managing content. relationship jeopardized us from selling into different lines of business within the same organization. This means that we might be losing a lot of opportunities for acquisition and growth as buyers from different LOBs perceive value differently. LOBs are the end users and are people we need to work with.
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 16 ASK THE EXPERT: PAUL LEWIS Global Social Marketing Manager & Social Selling Lead, Software Solutions | Pitney Bowes
LI: What challenges did Pitney Bowes face LI: Have any specific trends, such as account- Additional tactics: when sales reps primarily relied on single based marketing and customer lifecycle customer relationships? marketing, changed the way you build • After meeting a new business contact, always these relationships? follow up on LinkedIn. PL: In 2014, the average tenure of an employee was • Connect with people who comment and like your 4.7 years. That number today has fallen to 4.3 years, PL: From an ABM perspective, adopting a multi- LinkedIn posts. according to the Bureau of Labor Statistics. There was threaded approach has opened up cross-selling a time when you’d form a professional relationship opportunities. We may have an opportunity for our • Connect with those who view your profile. with one individual at an organization and liaise directly Personalized Interactive Video solution within the with them. With people changing roles and companies marketing organization of an insurance company. • Publish articles to help raise your profile. more frequently, sales opportunities are now at risk. Identifying and engaging with the right individuals • Check out the “people you may know” box for whose roles span across business units could lead possible connections. At Pitney Bowes we’ve seen just that. It’s to an additional opportunity to market the same fundamental to form relationships with multiple solution within [another] area of the business. • Engage with members of a LinkedIn Group. stakeholders in a variety of different functions, [including] marketing, operations, IT, finance and customer service. LI: What tactics and best practices have you • Attending a conference? Connect … with One stakeholder may be focused specifically on price; implemented internally to encourage sales to attendees, and try to set up an informal another may be the end user of a solution. A one- expand networks? on-site meeting. size-fits-all sales approach doesn’t work. PL: Research individuals and companies in detail. LI: What developments encouraged Pitney We also check to see if there is anyone within Bowes to make a change? Pitney Bowes that is connected to the individual. Spend a few minutes each morning looking at PL: It’s now a case of ensuring we adopt a Sales Navigator to see what’s happening within multithreaded approach to all our sales activities. the organizations (or people) you’re targeting. We want to be sure that we’re having the right Create a Google Alert on a particular subject, conversations with the right people across the roles topic or company. and disciplines that matter. We need to ensure we engage with [these individuals] from the very beginning.
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 17 USING LINKEDIN TO CONNECT WITH MULTIPLE DECISION-MAKERS
LinkedIn’s Definitive GuideDriving to Selling Social Mediato Multiple Adoption Decision-Makers and Revenue | 18 USING LINKEDIN TO CONNECT WITH MULTIPLE DECISION-MAKERS
At LinkedIn, we have access to unique data on the relationships between professionals and organizations. One of the areas in which we’re increasingly supporting clients is helping them identify the most relevant companies to do business with, and map out the appropriate Find the right people decision-makers within those organizations. using LinkedIn:
This makes LinkedIn a valuable tool for going active you are in Sales Navigator, the more beyond one-on-one relationships within your relevant your results will be: The tool learns from • Find out who the customer organization and developing matrixed your past searches and automatically combs decision-makers are relationships that support your sales goals. LinkedIn for lead recommendations that are relevant to your search criteria. • Automate the process Take advantage of LinkedIn’s capabilities in these three ways: View Data by Account to identify hidden of finding relevant influencers. Examine a new prospect’s profile, connections Step 1: Find the right people using LinkedIn connections, posts and groups to glean key information about priorities and pain points. Find out who the decision-makers are. You • View Data by Account to can use LinkedIn’s Advanced Search to Encourage salespeople to connect with each identify hidden influencers discover people with specific job titles within the other and other co-workers to expand your organization. Sales Navigator’s advanced search network. Then use the TeamLink feature in Sales • Encourage salespeople filter lets you search by seniority, function, Navigator to see how team members in your to connect with relationships to your connections and more. organization are connected with the client company and what areas they’re focused on. co-workers to expand Automate the process of finding relevant Identify colleagues in your organization who have your network connections by using Sales Navigator to save worked with the decision-makers you find, and ask the account, then save leads within the account. them to provide insight into the decision-makers’ Once the platform knows the types of connection interests and needs. Sales Navigator is especially you’re looking for, Sales Navigator will make useful for uncovering links with C-level stakeholders relevant lead recommendations, showing you who might otherwise be difficult to connect with, decision-makers and influencers at the account and determining how best to reach out to them. that you might have missed, and flagging buyers The more connections you have, the easier it is to who are sending out buying signals. The more expand your network within a company.
LinkedIn’s Definitive GuideDriving to Selling Social Mediato Multiple Adoption Decision-Makers and Revenue | 19 USING LINKEDIN TO CONNECT WITH MULTIPLE DECISION-MAKERS
Step 2: Determine your best path and experiences. Or establish a common bond for connecting through your activity on LinkedIn Groups. Join groups that your prospects belong to so you Once you find the right people to contact, be can see what their concerns are. strategic about making a connection. According to a LinkedIn survey, over half of buyers will To home in on the connections with the most reject a cold connection outright. If you can potential, look at Endorsements in the Skills & leverage your network to broker an introduction, Experience section to get co-workers’ opinions your communication is more likely to be on the prospect. Identify colleagues who have welcomed. In fact, buyers are five times more worked with the buyer and reach out to them too. likely to engage with salespeople who come through LinkedIn warm introductions. Create your profile with the customer in mind. Before reaching out to make the Start with your first-degree connections. connection, complete your LinkedIn profile by If someone at the account is already in your adding a professional picture. Optimize your Determine your best path network, see if your contact is willing to introduce profile with buyers, not employers, in mind. for connecting: you. If not, use LinkedIn’s “How You’re Consider upgrading to a Premium Profile — it Connected” feature to see who else in your offers even more options for personalization. network can provide that introduction. Sales • Start with your first-degree Navigator’s TeamLink feature can show you if Use InMail to get your prospect’s attention. connections anyone in your company is connected with a When you’re trying to connect with someone prospect. TeamLink is a powerful tool for getting who gets hundreds of emails a day, InMail • Evaluate your prospect’s warm introductions beyond your personal network. can give you a real advantage. The average You can also use Sales Navigator’s CRM Widget click-through rate for email campaigns is profile for shared interests to integrate with your CRM system so you can build 2.69%, while the average click-through rate relationships using pre-existing CRM contacts. of InMails is 14.69%, according to MailChimp. • Create your profile with InMail messages are optimized for viewing on all the customer in mind Evaluate your prospect’s profile for shared devices, so your message comes through loud interests. Scan the prospect’s profile for shared and clear whether the prospect is at their desk or interests, hobbies or any other commonalities on a smartphone. Send a personalized InMail to • Use InMail to get your you can use in your outreach. You can see break the ice — and be sure to mention a shared prospect’s attention what you have in common with a prospect by contact, interest or experience. According to using the In Common panel of the Profile and LinkedIn data, sales professionals who have viewing their Following, Groups and Volunteer at least one commonality with the prospect Experience & Causes. Use this information to enjoy a 46% lift in InMail acceptance rates build rapport by identifying shared interests compared to those with no commonalities.
LinkedIn’s Definitive GuideDriving to Selling Social Mediato Multiple Adoption Decision-Makers and Revenue | 20 USING LINKEDIN TO CONNECT WITH MULTIPLE DECISION-MAKERS
Step 3: Cater to individual needs Engage in discussions where your be ready to add value with information that and motivations connections are. Establish trust with your complements and extends the pre-purchase new contacts by regularly engaging with their research they’re already doing. Each member of the executive staff has their LinkedIn feeds. Like, share and comment own stakes, goals and priorities to address. on their content. You’ll make them look Share helpful resources. You can use InMail You stand a better chance of proving your good and, as a result, they’ll remember you. campaigns or Sponsored Updates to send your relevance if you can tailor your approach to LinkedIn Pulse curates content based on your prospects industry insights. Sales Navigator can each person’s job title and duties. LinkedIn can interests and the companies and people you help tailor your interactions by providing targeted help you cater to both groups of buyers and follow. Demonstrate your insights by sharing content for each individual buyer’s needs, questions individual decision-makers. and commenting on these articles. and interests.
Monitor your prospect’s social media activity. Position yourself as a valuable resource. Getting to know the entire buying committee — Start by listening. Pay attention to the content not just one person in the group — ensures you your contacts like, share or create, as well as Participate in LinkedIn Groups that your new contacts belong to, especially Groups have a relationship with the key decision-makers their interactions with others on LinkedIn. You’ll who will ultimately move the sale forward. It also get a wealth of insights into what they’re thinking that include multiple contacts at the client organization. Start conversations and allows for a multipronged sales approach, so if about, what they’re interested in and what their one contact leaves the firm or takes on a new role, pain points are. Ask yourself: What’s happening offer thoughtful responses to questions. This helps establish credibility among your you won’t have to start the sales process back at at the contact’s company? What are their square one. biggest concerns and problems? Who else are contacts’ networks. they interacting with, both inside and outside of With a little time and effort, you can find the their organization? Use relevant information to make a customer-specific value proposition. right people to connect with, broker warm introductions and customize your approach Monitor your new connections for “trigger Once you’ve established relationships with to prove your value to each member of the events” that give you a reason to connect, your new contacts, reach out with information based on their interests. According to the committee. A good relationship with the buying such as: committee is a great start to winning the sale. • Company expansion Demand Gen Report’s 2016 B2B Buyer’s Survey Report, 64% of B2B buyers say • New product launch the fact that a vendor “demonstrated a • New job or promotion strong knowledge of [our] company and • Getting married, having a baby, buying a house its needs” is a very important reason they chose that vendor. Thanks to your inside knowledge of each contact’s needs, you’ll
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 21 ASK THE EXPERT: GABE VILLAMIZAR Head of B2B Marketing | Lucid Software Inc.
LI: What encouraged Lucid Software to transition LI: What tools and processes are you using to LI: How do you measure whether your team from relying on single relationships to larger establish multiple relationships between your has succeeded in establishing and maintaining networks of targets? company and your customer organization? multiple relationships within accounts?
GV: One of my sales mottos is that “Data Will GV: One of my favorite sales cadences that our GV: One of the best ways to measure this is by Always Trump Intuition.” The buyer’s journey in the business development reps or account executives tracking certain data points from both LinkedIn B2B space has changed and will continue to do do when prospecting an account goes as follows: Sales Navigator and our CRM, which is Salesforce. so. We’ve taken this B2B buyer data and applied it These data points include how many leads were • Find seven decision-makers or people that to the way our sales reps identify and connect with saved per account in LinkedIn Sales Navigator, and influence those decision-makers. multiple buyers across the B2B enterprise level. then measuring in Salesforce how many online and As I train and coach our sales teams on social • Save the decision-makers as “Leads” in LinkedIn offline touch points were done. You’ll be able to selling on LinkedIn and Twitter, I emphasize the Sales Navigator. measure on an account-by-account basis whether advantage and power that comes from connecting the deal was won or lost, how many touch points in a personalized manner with four to seven • Find and follow those buyers/influencers on Twitter were involved and what was the outcome. Once you decision-makers per company to increase contact and their company handle. coach and train your sales reps on updating each and account penetration. activity they do within each of the leads they work • On Twitter and LinkedIn, listen and learn everything with (manually or semi-automatically), you’ll be able that there is to know about your buyer’s pains, to create a unique sales benchmark for your team/ problems and motivations. company and a predictive social selling model. • Begin engaging with your buyers via LinkedIn and Twitter.
• Identify two to three articles that will add value to your buyers and share [them].
• Build a relationship of trust and determine if you should work the account or move on.
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 22 ASK THE EXPERT: WENDY (MCEWAN) HOGAN Marketing Transformation & Strategy Director | Oracle
LI: What trends or disruptions encouraged important in this region, so we engage through customers and prospects, as well as their company you to transition from relying on single a mix of peer-to-peer insights sessions and announcements. Given the size of Oracle, it’s also relationships to larger networks of target ongoing content distribution of thought a great tool for us to identify connections between buyers and influencers? leadership and educational materials. We use a our own broader internal network and leverage mix of our own marketing automation tools, as their relationships with prospects. WMH: Asia is a diverse mix of markets in well as content marketing through social platforms LI: Have there been any key lessons learned or different stages of economic development such as LinkedIn. and digital sophistication. Add to that, our best practices you’ve acquired during this pro- customers’ teams are typically located across LI: How do social tools such as LinkedIn Sales cess that you can share? disparate geographies and time zones. It’s Navigator help your sales teams maintain and WMH: It’s not natural for non-digital natives to use imperative then that we develop relationships deepen prospect and customer relationships? social and digital tools to canvas their customers and communications with people who influence WMH: A lot of the markets in this region are in and understand their prospects’ businesses, buying decisions, as well as the budget holders high-growth mode, which makes finding and so we host training sessions … on the tools. themselves. This has meant mapping the retaining talent an incredible challenge. Using a We also share best practices internally and organization charts of our customers and professional social network as comprehensive celebrate successes with metrics and outcomes prospects across multiple countries and languages. as LinkedIn enables us to keep tabs on how our that demonstrate the value to folks who are still LI: What tools and processes are you and customer teams are changing and growing (such learning how to best utilize [social] platforms. your teams using to establish multiple as adding a Head of Digital or Head of Customer relationships between Oracle and your Experience), and who works where (for example, prospect and client organizations? when a CMO moves from one company to another or a digital strategist changes media agencies). It WMH: Education is key in markets where modern also allows us to retain IP and continuity around business is still evolving and access to the Internet, our customer base when our own team members on average, still sits below 50% of the population. change. We also keep tabs on news about our Face-to-face communications are still very
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 23 ASK THE EXPERT: XAVIER MONTY Corporate Communications Senior Manager | Talentsoft
LI: What trends or disruptions encouraged you to LI: What tools and processes are you and your LI: How do you measure whether your team transition from relying on single relationships to team using to establish multiple relationships has succeeded in establishing and maintaining larger networks of target buyers and influencers? between your company and your prospect or multiple relationships within an account? customer organizations? XM: In Europe, most organizations are decentralized XM: The first level of measurement is the number models spread over several regions and countries. XM: LinkedIn Sales Navigator is the No. 1 tool and frequency of interactions between the team The capacity to serve decentralized organizations to create and maintain meaningful relationships. and the customers’ accounts. The second level starts with establishing strong relationships, The amount of real-time insights in the platform of measurement is about the relationship quality. understanding decentralized business challenges allows [it] to behave in a much more accurate way Frequent interactions that create value for both and making it clear that you are a partner of trust. that translates more often into business. A social people can result in deeper connections and advocacy platform is a key enabler to push great enhance a contact’s professional credibility. The third The second trend ... is all about the digital and differentiated content to customers. Mixed with level of measurement is the business generated out transformation. Thanks to the great amount of insights coming from LinkedIn Sales Navigator, the of the relationships. information available on social media, B2B buyers positive amplification effect is multiplied. LinkedIn have all the capacity to search for information online. Sales Navigator coupled with CRM and social This creates a new paradigm in the decision-making advocacy is the perfect mix. process that is now spread across more influencers with various backgrounds. LI: How do social tools, such as LinkedIn Sales Navigator, help your team maintain and deepen prospect and customer relationships?
XM: At Talentsoft, we strive to be different by putting relationships with our team first. LinkedIn Sales Navigator is at the heart of our meaningful sales approach. Not only does it give us the opportunity to get real-time insights on our commercial relationships, but it allows us to be perfectly tuned to our customers’ needs.
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 24 CASE STUDIES
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 25 Case Study: HCL Technologies USING MATRIXED CONNECTIONS TO FORM ENDURING RELATIONSHIPS
HCL Technologies, a global technology consulting and IT outsourcing company with more than 100,000 employees across dozens of countries, has built its brand on a philosophy of championing the “Relationship Beyond the Contract.”
But how can a huge, multinational company “No one wants to build a strong bond with The HCL marketing team uses Sales Navigator achieve that kind of authentic connection with each someone who’s only trying to sell to them. You to research targeted accounts and create customer? Sales reps at HCL start by getting to want to be heard and understood. That’s why we relevant content, giving the sales team effective know each decision-maker involved in a purchase put an emphasis on listening to their challenges tools to generate meaningful rapport with before the first engagement. LinkedIn’s Sales first,” Sivasubramaniam explains. Sales reps multiple people at the client company. With Navigator makes this a simple task. “When you then engage by sharing content relevant to the Sales Navigator, HCL Technologies drove more first meet a customer, it can be difficult to earn their concerns of each individual decision-maker than 7,000 new connections with decision- trust,” Sivasubramaniam notes. Using TeamLink, or influencer. makers in six months. however, sales professionals are able to reveal To ensure sales reps get the most value from existing connections with prospects and begin to Using Sales Navigator to discover and nurture LinkedIn, HCL provides detailed on-boarding forge strong relationships at a customer company. multiple contacts has helped HCL reach more training. They also track and encourage sales “Once you’re linked by a personal connection, prospects, share ideas and create added value. teams using LinkedIn’s Social Selling Index (SSI) there’s instantly a greater sense of trust,” he says. The lasting relationships forged from multiple as one of their primary KPIs. LinkedIn connections help HCL live its brand Sales reps save leads and accounts in Sales An in-house monthly newsletter focused on Sales promise to uphold the “relationship beyond Navigator so they can follow prospects, get Navigator includes success stories and an the contract.” relevant alerts and gain insights into contacts’ internal leaderboard, so everyone can see where concerns, priorities and work environments. This they stand. “That allows us to inspire each other knowledge helps reps expand their networks of and learn from our collective experiences,” connections at a client company so they don’t says Sivasubramaniam, who notes that Sales have to rely on just one contact. Navigator helps build relationships internally as well as externally.
LinkedIn’s Definitive GuideDriving to Selling Social Mediato Multiple Adoption Decision-Makers and Revenue | 26 Case Study: NewVoiceMedia DRIVING BOTTOM-LINE RETURN THROUGH MATRIXED RELATIONSHIPS
In October 2014, Doug Ruth, then Account Executive at NewVoiceMedia, a global provider of cloud call center and inside sales solutions, had just opened a sales opportunity with a medium-sized Internet company.
Two months later, Ruth’s key contact at the Next, Ruth started following those decision-makers NewVoiceMedia has since integrated Sales account left the company, and the account went on LinkedIn to receive updates on their activities, Navigator with its CRM so that sales reps can view dark. With 1 in 5 decision-makers leaving their such as any job changes they made. Building on LinkedIn information and Sales Navigator insights positions within a year, according to LinkedIn these new contacts, he engaged with the relevant from within the CRM. By helping to personalize data, this situation is all too familiar to sales people at the client company, using LinkedIn to NewVoiceMedia’s value proposition for each professionals. At best, the loss of a key contact better understand their needs. By developing contact’s needs and concerns, Sales Navigator forces a sales rep to start all over again; at worst, relationships with all of the decision-makers, he makes it easy for reps to reach out to multiple it can sabotage a sale altogether. was able to work with the group to gain internal contacts with relevant information. The result: consensus. Within a month, he had closed the sale. lasting relationships with multiple decision-makers, Ruth wasn’t going to let that happen. Instead, bigger sales and more revenue. he began using LinkedIn Sales Navigator to track Connecting with multiple decision-makers down relevant decision-makers at the prospect on the buying team reduced the risk that Since NewVoiceMedia implemented its matrixed company and build a bigger network. Using the NewVoiceMedia could lose a sale if one contact approach using Sales Navigator, win rates are up Advanced Search filter, he was able to search left the organization. But the benefits of matrixed 80% and deals are 30% larger. Reps who use by seniority, function and years at the company. relationships don’t end there. After Ruth made the Sales Navigator see a 1.3x higher win rate and Leveraging both his personal and professional initial deal in 2015, seven of his contacts at that close 1.7x more revenue than reps who don’t use LinkedIn network, he arranged warm introductions account left the company. Using SalesNavigator, it. Overall, 73% of NewVoiceMedia’s won revenue to all of the decision-makers he’d discovered and Ruth was alerted when they changed jobs from new business was closed using added them to his network. so he could keep following them in their new Sales Navigator. roles. As a result of maintaining these contacts, NewVoiceMedia was able to land a new account almost immediately.
LinkedIn’s Definitive GuideDriving to Selling Social Mediato Multiple Adoption Decision-Makers and Revenue | 27 Case Study: PGi UNLOCKING THE VALUE OF MATRIXED SELLING
In 2012, PGi EMEA was faced with a dilemma familiar to many companies: how to drive better and warmer leads to its sales team. Traditional lead routes had proved outdated, and salespeople were spending too much time researching leads.
Sales teams were also working harder but closing sharing relevant content, joining groups strategically, This facilitated multidimensional selling, so that smaller deals. Making matters even more complex, following their prospects and listening to their social reps had more than one contact within an account PGi was entering new markets with new products, activity. This enabled very warm introductions, which — especially helpful for selling PGi’s new products prompting salespeople to research and profile allowed sales reps to secure meetings with more to existing accounts. The PGi team uses Lead customers they weren’t previously familiar with. targeted decision-makers — and close deals far Builder and alerts to see when key contacts leave more quickly. their roles, and whether contacts within their After two PGi sales managers successfully used networks know and can connect them with LinkedIn to build leads, research contacts and But while many PGi sales team members target prospects. enter new market segments, PGi expanded its approached LinkedIn as a tool for acquisition, number of licenses, and it didn’t take long to feel several key account managers used it to find After building LinkedIn into its daily sales activities the impact. After adding even more licenses, ROI additional departments and locations where and integrating it with Salesforce and Outlook, increased tenfold. Sales reps using LinkedIn were accounts had a presence, which helped them PGi’s SSI scores increased 28%, with a 22:1 ROI. winning bigger deals and closing deals quickly by penetrate deeper and wider into their accounts.
LinkedIn’s Definitive GuideDriving to Selling Social Mediato Multiple Adoption Decision-Makers and Revenue | 28 CONCLUSION
Today, success in B2B sales demands a new approach — not one-to-one, but a web of interwoven connections. By uncovering and nurturing multiple contacts at client organizations, your sales team can build trust, gain deeper knowledge of the organization’s needs and accelerate the sales process. Just as a web is stronger than a single filament, building multiple connections at client and prospect companies creates a more stable relationship — one that can withstand change.
With connections in different departments, functions and regions at a client company, you’ll find it easier to uncover new opportunities, add value, foster customer advocates and grow your business. With in-depth knowledge of the entire buying team’s individual needs, you can find the perfect solution for the customer, enhancing customer satisfaction and retention.
Savvy sales professionals tap in to the power of LinkedIn to help them expand their web of connections, close the sale and drive revenue.
LinkedIn’s Definitive Guide to Selling to Multiple Decision-Makers | 29