Welcome to the sales weekly roundup for November 6-12. This week we’ve got new research on the benefits of social selling in the B2B space, what leaders need to train multigenerational sales teams, hashtagging etiquette and a breakdown of lead generation spend in 2016.
How B2B Sales Can Benefit from Social Selling
Authors Laurence Minsky and Keith A. Quesenberry, both well-regarded marketing consultants, make a strong case for leveraging social networks in the B2B selling. Though sometimes they equate “social media” with “social selling,” which it is not, the authors weave together a comprehensive base of data to support how and why sales professionals must use social selling to meet the increasing demands of the buyer — and the consequences if they do not.
Outbound is becoming less effective: connecting with a prospect now takes 18 or more phone calls, callback rates are below 1% and only 24% of outbound sales emails are ever opened.
84% of B2B sales start with a referral — not a salesperson.
Skilled social networking sales professionals are six times more likely to exceed quota over peers with basic or no social skills.
What Does It Take To Successfully Train Modern Sales Professionals?
Mark Bashrum, the SVP of Marketing at Richardson Sales Training, dissects the challenges and solutions of training modern sales teams. Based on a recent whitepaper from his own sales training company, Bashrum doesn’t miss a beat in this post.
What you need to know:
Challenges of modern sales teams: 1) they’re increasingly multigenerational, and 2) buyers are coming to the table ultra-informed, thanks to the internet.
Trainers should lean on formats that millennials and other modern leaders are accustomed to: Gaming, social networks and mobile technology.
To maximize learning speed and results, while minimizing time out of the field, we must use a modular course format that delivers content in small, bite-sized units, with specific learning paths designated for core or advanced levels and by sales function. Multimedia helps make key concepts memorable.
Should Social Sellers Use Hashtags on Twitter? If So, How?
Trapit’s Director of Marketing, Mark Bajus explores hashtagging best practices for social sellers on Twitter — a strategy you may write-off as fluff. But in the Twitterverse, using hashtagging to gain exposure or as a way to join conversations, for example, can go a long way to boosting your personal brand cred in the eyes of your buyer.
The more specific you can get with a hashtag, the more targeted your conversation will be. #Business will be much broader (and noisier) than #Sales, which is much broader (and noisier) than #SocialSelling.
Research suggests tweets with one hashtag got the most engagement. So don’t over do it.
In the name of authenticity, some social critics advise against hashtagging altogether. Unless you’re Jill Rowley, you probably don’t say things like “hashtag social selling” in real life. Consider readability, Twitter etiquette and most importantly, how your buyer will perceive you.
Lead Generation Spend in 2016
Chad Nuss, Chief Revenue Officer at InsideOut, compiles the latest data from his company’s report, the 2016 CXO Benchmark Study, into this fine looking infographic.
53% of CXOs spend 0-20% of their budgets on content marketing (most amount of funds).
95% of CXOs spend less than half of their budgets on search marketing, but this lead gen tool helps generate a higher conversion rate than other inbound channels.
79% of CXOs spend 0-20% of their budgets on paid online advertising (least amount of funds, probably because of the high risk, high expense and little control).