Sales managers are looking to diversify their hiring across two dimensions: geographic and cultural. With work from home proving itself over the past year, managers are now confident that they can hire the best talent, regardless of location.
Likewise, sales professionals believe that their firms have succeeded in their efforts in opening up sales teams by gender, race, etc. 35% of sales professionals believe their sales organizations have “exceeded goals around diversity hiring initiatives,” while another 45% say their sales organization has “met” their diversity hiring goal.
On the buying side, 83% of purchasers said that all things being equal, they would give a preference to more diverse teams.
LinkedIn argues that Sales Intelligence is a crucial tool for building trust in the absence of face-to-face meetings. LinkedIn broadly uses the term to include Conversational Intelligence tools such as Gong and Chorus, which help understand the prospect’s state of mind, and sales intelligence solutions such as Sales Navigator.
“With in-person meetings limited, sales technology provides a key pathway to gaining insight and understanding into potential customers. It’s no surprise, then, that our survey indicates that both usage of and investment in sales technology are increasing,” stated LinkedIn.
73% of respondents employ a sales intelligence solution weekly, and 23% use one daily. 54% said SalesTech helps reps build stronger relationships, and an equal percent said it helps them close more deals. The top three categories for closing deals were CRM (70%), sales intelligence (69%), and sales enablement (69%).
Both usage and investment in SalesTech will increase in 2021, with CRM (49%), Sales Intelligence (43%), and Sales Planning (42%) seeing increased usage. On the investment side, the top categories are CRM (41%), sales intelligence (40%), and sales engagement (40%). Nearly seven in ten sales professionals anticipate greater SalesTech investment this year.
Data continues to be seen as critical, with 47% of sales organizations using it for account targeting, 44% for industry targeting, 43% for performance assessment, 41% for geographic targeting, and 39% for defining the buying committee.
While LinkedIn did not delve further into buying committee discovery, this is a nascent development area with multiple approaches, including conversational intelligence (meetings, emails) and machine learning.
Understanding the demand unit is critical for sales teams. 85% of reps reported that at least one opportunity was lost or delayed due to the departure of a client stakeholder.
Sales Navigator usage continues to be robust, with a 400% increase in self-bought Sales Navigator licenses over the past two years, “a surge that indicates sales professionals are investing in their own growth and have a willingness to use sales tech even if not prescribed by their company.”
59% of the Forbes Global 500 companies and 64% of the Forbes fastest-growing companies have Sales Navigator users.
Finally, message quality trumps quantity. Simply sending high volumes of email or sharing many content pieces does not move the revenue needle. The key is quality outreach that generates engagement and message acceptance. “This is a strong indication that salespersons ought to be mindful of the value to the customer before sharing content or sending an InMail.”
InMails should be “short, personalized, and conversational.” Messages with fewer than 400 characters are the most effective, with a sharp drop-off in response rates for long-in-the-tooth messages.
LinkedIn surveyed 400 sales and 400 US and Canadian purchasing professionals in January 2021. Separate surveys were conducted for other geographies but have yet to be published. [Original Report]
In its recently published State of Sales 2021 survey, LinkedIn stated that “Virtual selling is good for sellers and even better for buyers.” 50% of buyers say that “working remotely has made the purchasing process easier.” Buyers have benefited from the greater acceptance of sales intelligence and sales enablement services.
Furthermore, 70% of buyers want to retain remote work at least half of the time. 48% of buyers do not expect to be meeting face-to-face until H2 201, and 17% anticipate waiting until 2022.
“The bottom line is this situation requiring virtual selling skills won’t be changing anytime soon,” commented LinkedIn.
59% of buyers do not anticipate attending live events until H2 2021. While 90% of the surveyed buyers have previously attended events, 48% of sales reps have now closed deals above a half-million dollars without meeting the buyer in person.
“Sellers will go back to face-to-face meetings but not remotely close to pre-pandemic levels. Digital transformation was coming no matter what. COVID-19 just accelerated everything. In other words, digital transformation is here to stay.”
Gartner VP-Analyst Craig Rosenberg
Sales Managers recognize the acceleration of change and digitization, with 86% agreeing that “the ability to cope with change is more important than it was five years ago,” up 16% over the past year.
“Generally speaking, sales is slow to adapt,” opined Gartner VP-Analyst Craig Rosenberg. “If the way sellers are doing things works, then they will keep doing it. This drastic event is driving change. Also, when the buyer changes, sales is forced to change. We often think of ‘sales’ as having to move virtual as the driver, but actually our buyers moved virtual. Ultimately, sales is going to gravitate to the buyer’s preference. In other words, it is much easier to adapt to change when you have to.”
The top three sources of change cited by sales managers are measuring sales processes and outcomes in different ways (51%), adding new technologies (50%), and instituting new hiring policies (50%).
Remote sales job postings increased five-fold in Q3 2020 year-over-year, with remote positions growing 8.8X in Canada and 4.5X in the United States. The transition hasn’t been easy. 67% of sales managers said that managing remote teams is more challenging than expected, and 65% of sales reps found it more difficult than anticipated.
Sales Operations and Customer Success roles proliferated between 2018 and 2020. LinkedIn captured a 38% increase in Sales Operations roles over this period, 4.8X the growth of sales titles.
Customer Success positions trebled between 2018 and 2020.
Continue to Part II, which discusses diversity effort in sales, SalesTech, and Sales Navigator.
Five vendors covered in my newsletters and blog made LinkedIn’s Top 50 US or Top 10 UK startups list, an indicator to the economic vibrancy of SalesTech and MarTech solutions, particularly during the pandemic.
Sales Engagement vendor Outreach placed #6 in the US, its second year making the list.
“We work hard to be a great place to work and to create an environment where [the] top talent of any background feels welcome and can thrive,” said Outreach CEO Manny Medina. “We’re always looking for passionate, tenacious employees who think differently and live and breathe our core value of having each other’s backs. I’m thrilled that we continue to attract the best of the best, and LinkedIn named us one of the top startups in the US.”
Outreach focused on “emerging and resilient startups that are navigating the ever-evolving nature of work in the wake of COVID-19.” The firm also focused on delivering sales management tools during the pandemic, helping “leaders closely monitor their team’s success and keep employees motivated and productive.”
According to CEO James Isilay, “We have just made a key hire in the US and will be expanding the offering there from October.”
Following a staff survey, Cognism will be moving to a smaller office presence and emphasize WFH options.
“Despite a challenging year with the pandemic, Cognism has continued its strong growth recently passing the key $10 million ARR mark,” wrote CEO James Isilay. “We see growth accelerating next year as we bring our go-to-market intelligence and engagement platform to new markets across Europe.”
Two tactile marketing companies, Alyce (35) and Sendoso (46), made the list. Both firms positioned direct mail e-gifting as a method to connect with customers and prospects during the pandemic.
“While many companies and entire industries were dramatically impacted by the pandemic, the need to create personal bonds as the world moved almost fully digital in the age of no major trade shows, events, and public networking became ever more paramount,” wrote Alyce. “Alyce actually thrived as a company, and swiftly pivoted to deliver digital gifts for their enterprise customers looking to create personal experience moments for their audience. Despite the market shifts, Alyce has experienced a milestone year of growth, with a vast percentage of its Annual Recurring Revenue (AAR) coming from its enterprise customer base and new use-case expansion, more than 5x-ing over last year.”
Firms were based upon four criteria: employee growth; jobseeker interest; member engagement with the company and its employees; and how well these startups pulled talent from LinkedIn’s Top Companies list. Startups must be no more than seven years old and have at least 50 employees.
LinkedIn is rolling out its third-quarter Sales Navigator release. The enhancements focus on “features that help you put your buyers first through intelligent action, simplified day-to-day activities, and consistent insight into keeping relationships warm.” The release theme is “listening to the buyer.”
LinkedIn is dipping its toes into intent data with Buyer Interest Alerts that signal when employees or corporate leaders from a saved account have visited the company’s LinkedIn Page or company website. Buyer Interest Alerts are available in conjunction with LinkedIn Marketing Solutions and delivered through the Sales Navigator Enterprise edition.
Marketers install a snippet of code to their website that drive the notifications. They can then track conversion rates, retarget visitors, and analyze visitor demographics. The code also powers Buyer Interest Alerts within Sales Navigator.
“With Buyer Interest Alerts, you have buying intent insights that help you to decide when to engage, allowing you to provide a timelier and more customized buyer experience,” blogged Lindsey Edwards, the Senior Director of Product Management at LinkedIn Sales Solutions. “As we strengthen our buyer intent models with the rich buyer insight that the LinkedIn network contains, we’ll continue to enhance our Interest Alerts to include more signals that will allow you to target the right buyer at the right time.”
Buyer Interest Alerts are anonymous. LinkedIn notifies the user if there is a visitor from the company but does not disclose details beyond account name, seniority level (i.e. Leadership or Employee), and geography. Users can then search for Linkedin Members that match these criteria. Anonymity ensures GDPR compliance.
While many vendors are now offering visitor intelligence, Sales Navigator is the only service that combines LinkedIn company profile views with visitor intelligence.
Account-Level Buyer Interest is not yet supported but is on the product roadmap.
LinkedIn, which has often suffered from spam alerts that overwhelm users, is employing predictive AI to surface the critical notifications for “building and maintaining the relationship with your buyer.” Users may filter alerts by Lead, Account, shared activity, and alert type with the “most urgent and timely” alerts displayed at the top of the list.
Sales Navigator is also improving its synchronization with Salesforce and MS Dynamics. Users can now bring their book of business into Sales Navigator through the automated syncing of Leads, Contacts, Accounts, and Opportunities. The syncing improves the delivery of people and company alerts and insights within Navigator. CRM synchronization is available as a feature of the Team and Enterprise Editions.
To improve relationships, LinkedIn is now reporting on LinkedIn outreach activity across all Sales Navigator editions. Lead Lists (followed members) now track LinkedIn engagement with additional columns for actions by the Sales Navigator user and subsequent responses:
InMail and Messages sent, responses received, and attachments clicked
Connection requests sent from Sales Navigator and LinkedIn and accepted requests
Smart Links sent and opened
Lead and Account List sizes were increased from 250 to 1,000, expanding the scope of contacts and companies tracked. Users may also take bulk actions on up to 25 Lead or Account records at a time, making it easier to remove them from lists or move them from one list to another.
Sales Navigator is well-positioned to assist sales reps during the pandemic as its messaging tools are not location or time-specific. Sales professionals can reach out with InMails and Connection Requests, and prospective buyers can respond asynchronously. SDRs and AEs don’t need to obtain (or guess at emails) or place direct dials that go unanswered at empty offices. Furthermore, Smart Links, launched earlier this year, provides a tool for sharing documents and multi-media with view tracking.
“In what continues to be a unique and challenging moment in history, buyers and sellers, alike, are adjusting to a new normal. Just like you, they’re juggling the pressures of succeeding in their day-jobs, while also managing their personal lives — homeschooling, daycare, elder care, multiple people working from home, and/or reduced income. The hurdles might look different from buyer to buyer, but one thing is consistent — they need to feel confident that you understand their challenges and goals. In the end, you aren’t necessarily selling a product or service, you’re selling a trusted relationship, and the person at the center of that relationship is the buyer.”
Lindsey Edwards, Senior Director of Product Management at LinkedIn Sales Solutions
By the end of the year, the Deals functionality will be integrated directly into the Sales Navigator workflow. This enhancement will improve relationship status and pipeline visibility.
Microsoft launched a global skills initiative to provide digital training to 25 million global workers. The online courses will be delivered through Microsoft, LinkedIn, and GitHub.
A new “System of Learning” app will be released later this year on Microsoft Teams.
“Increasingly, one of the key steps needed to foster a safe and successful economic recovery is expanded access to the digital skills needed to fill new jobs. And one of the keys to a genuinely inclusive recovery are programs to provide easier access to digital skills for people hardest hit by job losses, including those with lower incomes, women, and underrepresented minorities.”
Microsoft President Brad Smith
The Microsoft Data Science team leveraged the LinkedIn Economic Graph to estimate global digital job growth over the next half-decade. Microsoft estimates that by 2025, there will be 100 million new software development positions, 20 million cloud and data roles, 20 million data analysis, machine learning, and AI jobs, and 10 million cybersecurity, privacy, and trust roles.
LinkedIn has already setup digital training tracks for ten of these key positions: Software Developer, Sales Rep, Project Manager, IT Administrator, Customer Service Specialist, Digital Marketing Specialist, IT Support / Help Desk, Data Analyst, Financial Analyst, and Graphic Designer. These roles were selected as they have “the greatest number of job openings, have had steady growth over the past four years, pay a livable wage, and require skills that can be learned online.”
Microsoft noted that investment in employee training has declined over the past few decades, leaving fewer employees with on-the-job or employer paid training benefits. Since 2008, investment has remained flat.
“Exacerbating the challenge is the fact that existing training is not reaching the populations who need it most. On-the-job training far outpaces distance learning and other alternative modes, limiting options for prospective employees. Perhaps more significantly, on-the-job training is more than two times as prevalent among workers who are already in higher-skilled roles, leaving those in more automatable positions even more vulnerable to displacement.”
Microsoft President Brad Smith
Emphasis on Virtual Training
The availability of low cost or free training tools is one of the silver linings from the pandemic. Boardroom Insiders, a profiler of C-level biographies and executive concerns, spent two weeks reviewing recent CIO interviews. They observed that technology leaders have emphasized upskilling and reskilling their teams to address skills gaps while working from home. Tech vendors have rolled out “a whole host of free training and education programs.” As these programs are virtual, CIOs are encouraging their staff to attend these sessions with zero travel costs and reduced or waived registration fees.
Likewise, CIOs are using the time at home to hone their leadership, communication, and team engagement skills. CIOs have found their teams to be more productive, collaborative, and agile, with rising morale.
I collected some ideas from those in the tech industry that I follow.
In this morning’s team meeting the EMEA SalesLoft team discussed how we can keep the culture and mental wellbeing at the forefront while we work remotely…
We are having a daily stand up for 15 minutes, virtual team lunch on a Wednesday and virtual Friday drinks. We are making sure we put time aside for exercise and doing the things we love. We are being mindful of continuing to share ‘glass half full’ stories. We are also looking into what we can do to help with the bigger issue that people are facing in regards to the Corona Virus – local charities, food banks, the elderly.
Ollie Sharpe, SalesLoft VP of Revenue, EMEA
A TOPO study of 350+ marketers indicated that only 16% of firms see a significant impact to their pipeline, 64% see a moderate impact due to coronavirus. The biggest impacts are due to canceled events (87%), corporate travel bans (64%), buyers working from home (53%), and prohibitions against face-to-face meetings. Only 27% cited buyers not booking meetings and frozen buyer budgets (22%).
Research conducted in 2018 by the Center for Exhibition Industry Research indicated that B2B marketers who participate in industry events allocated nearly 40 percent of their budgets to exhibitions and industry shows, almost five times more than the 8% spent on online marketing.
Even if only a small fraction of the events’ budgets is shifted to online marketing, it would translate into a massive growth in web marketing.
The major advantage of digital marketing, besides the fact that it does not require face-to-face interaction, is that it is measurable. Marketers can quite easily obtain a good picture of their spending return on investment (ROI), and of which activities generate the highest number of quality leads and at what expense.
Assuming that many marketers will have some extra free time, especially those who will have to go into home isolation, they are advised to use it to review their online marketing strategy and redefine their marketing messages.
Dan Gerstenfield, Interteam Content Services
It’s time to pick up the phone. No texts, no emails, no social platforms. Pick up the phone and talk to someone. You are probably dealing with some of the same issues that come with physical separation.
It’s not the time to pitch people, it’s the time to show that you care–about them. It doesn’t have to be a long conversation, but ask them how they are doing, ask how they are keeping engaged and productive, share some ideas.
All of us share in this experience. Each of us is figuring things out. We can learn from each other, at the same time feel more connected.
David Brock, Author of “Sales Manager Survival Guide”
Sirius Decisions (Forrester)
Create a task force. Except in very large companies or those with specific types of risks, most companies do not have a dedicated crisis response team, and many have never created even a bare-bones crisis communications plan. Now is the time to do so. Bring together functional leaders from across your organization to begin identifying and prioritizing issues, with all major functions and regions represented. The senior communications leader is usually at the helm, and in some smaller organizations, the effort may be led by the CEO. Other participants will likely include human resources, legal counsel, operations/facilities, sales and customer service leaders, and various marketing/communications disciplines that are either directly affected or will be involved in delivering information to audiences. Each individual should have a clear understanding of his or her specific responsibilities.
Prioritize issues of greatest urgency. Ensuring the safety of employees, customers and other stakeholders is obviously the priority, and external guidance from public health experts will be important to understand what these issues are…
Develop a protocol for emergent situations. Obviously the plan should lay out a set of actions the organization will take immediately, based on what is known today. However, the situation is fluid and it’s not possible to know with certainty what the situation will look like in a month or six months. That’s why it’s important to have a protocol for addressing new situations as they emerge…
Prepare the communications engine. Providing transparent and ongoing communication is the hallmark of good crisis communications. The communications team needs to analyze the types of communication that will be needed to support a variety of scenarios. One of the most challenging aspects of crisis management is the need to create a wide range of critical content, have it vetted by legal and pushed out through channels as quickly as possible. Create templates for common types of content and stub content that can be built-out as needed. Set up an expedited legal vetting process and work with digital teams to identify how content will be conveyed through the company’s owned channels (web site, social, communities). Also prepare spokespeople – from the CEO to the receptionist, with concise answers that can be given without additional approvals or escalation paths.
Map communications strategies to audiences. SiriusDecisions always recommends starting with an understanding of the audience, and crisis response is no different…
Maintain open communications with employees. A large percentage of the workforce will face some kind of disruption to their normal routines or even their income…One of the first priorities should be to plan for how communications will flow internally: the channels and cadence that employees can expect, as well as where to go if the normal channels (which may occur in a face-to-face environment) are not available. Also remember that employees are a channel, and if you enable them with content, they can extend the reach of your information and credibility with audiences. [Full Text]
I had four tradeshows canceled this month and next. They were opportunities for me to meet with customers and prospects (and conduct research for my industry newsletters). At this point, I’m assuming that at least two more will fall by the wayside in H1. I’m sure many of you are in a similar boat. Your marketing calendar is in a shambles, your field and inside sales reps are cloistered at home, and you are uncertain about how to manage remote workers.
Here are some ideas about how to retain momentum and deploy technology to mitigate pipeline and operational risks:
If you haven’t deployed video widely across your workforce, due so ASAP. Vendors such as Zoom, WebEx, BlueJeans, Join.Me, and GoToMeeting provide reliable video conferencing solutions for multi-party meetings, demos, and document sharing. Video Meetings are a do not pass Go, donot collect $200 requirement. Every customer-facing, development, management, and planning employee should be able to join meetings from home or the office.
Setup scheduled video meetings for the next three months so they are blocked out on team calendars. This could be a 15-minute corporate call every few weeks, weekly team calls, and one-on-ones. Standing meetings should all be web-based. Office-based employees are going to feel disconnected socially, so build in some social fun at the team level (e.g. recognizing birthdays and work anniversaries, celebrating wins and releases, etc.)
I would also build training time into video meetings. It shouldn’t be all top-down. Give your staff the opportunity to cross-train peers. A sales rep could discuss her latest victory with lessons learned or provide insights into a target vertical. Marketing can review the latest product positioning and new collateral. Product Management can train on new products, review the product roadmap, and discuss the competitive landscape. The goal is to provide training, communications, coordination, and social interaction.
Record meetings and make them available to those who miss meetings with Slack or Team links. Expect that meetings will be missed due to illness, parenting requirements, and meeting conflicts.
As event marketing is off the table, marketers will need to be flexible in how they deploy their budgets. For those that planned on hosting events, they should at least proceed with their Keynote as a webinar. For H2, a roadshow in September or October can be planned, but mitigate risk in your contracting and through joint shows (shared cost and risk).
Marketers will need to deploy or expand their use of other channels including webinars, press releases, analyst outreach, blogging, social, and video. Direct mail is problematic as prospects are likely to be working from home, but e-gifting is a viable option. Look at e-gifting vendors that are supported by your Sales Engagement platform (e.g. Sendoso, PFL, Alyce)
Here is an opportunity to test additional channels and provide your event marketing team with some cross-channel development.
Canceled shows are also a reason for re-engagement campaigns. You can restart the marketing nurture process with a message around “not being able to talk to you this season.” Keep the message short and serious. You don’t know if your prospect is worried about his or her job, family members, or personal health. Also, don’t appear to be taking advantage of the situation. Be empathetic, not opportunistic.
Also, make sure to reschedule meetings from those cancelled conferences. These are likely to be phone or video calls, but reps and executives should reconfirm calls now.
Once you have standardized meetings, make sure they are recorded and transcribed. This is particularly true for sales meetings. Conversation Intelligence vendors such as Gong, ExecVision, and Chorus record calls, transcribe them, and perform NLP/AI processing on the conversations. Conversation Intelligence allows sales reps to be more present during calls as they no longer need to focus on note-taking.
Transcriptions and analytics have multiple benefits:
Sales Reps can quickly review calls and return to key topics and issues (e.g. pricing, next steps).
Sales Managers can review calls related to accounts and opportunities at risk to provide coaching tips to reps.
Analytics identify both the strengths and weaknesses of reps versus their peers. They also flag missed actions (e.g. discussing next steps), customer concerns, and competitors. To assist with training and opportunity scoring, Conversation Intelligence vendors identify filler word frequency, monologue length, and conversational engagement.
Reps can forward snippets to peers for questions and help. If there is a question about a bug or support issue, the snippet can be forwarded to support personnel for an update. If a sales rep feels that they handled a question or issue poorly, a snippet can be forwarded to sales management or training for advice on how to better handle the issue next time. Snippets allow peers to hear the voice of the customer.
Snippets can be stored in a library for training purposes. These would include exemplars for objection handling, competitor parrying, value discussions, etc.
Product Managers can perform bulk analysis of sales calls to identify requested features, competitor discussions, and product issues. Vendors allow for keyword customization and analytics.
Sales Cadences, also called sequences, are at the core of Sales Engagement. Cadences set up a structured set of multi-channel outbound communications supported by email templates, dialers, social, and SMS text. Cadences improve sales efficiency by eliminating follow up tasks, recording activities to CRMs, and deploying A/B tested content (emails, attachments, cadences, call scripts). While most commonly used for SDR outreach, cadences can also be used for meeting reminders, setting up quarterly account reviews, and training follow up.
SEP vendors understand that authenticity is the key to sales success. Simply blasting mindless emails at prospects is futile. Cadences can be customized by target role, industry, company size, technographics, and stage in the buyer journey. Furthermore, reps are expected to personalize emails before sending them out (SalesLoft says 20% is the optimal level). Most of the vendors now support 1-1 embedded videos from Vidyard, Hippo Video, or Videolicious.
SEP Vendors also provide a deep set of analytics. Initially, these focused on communication efficacy (e.g. open and click-through rates, best time of day to call), but now analytics assess conversations, call out deal risks, prioritize accounts, and suggest next best actions.
SEPs are now commonly deployed amongst SDRs and Inside Sales, but may still be foreign to field sales reps; however, field sales reps will be operating more like inside sales reps for the next quarter, so deploying SEPs to field sales makes sense.
Beyond outbound communications, SEP vendors are beginning to support meeting management (setting up calls), conversational intelligence, and opportunity management. SalesLoft and Outreach are the farthest along in supporting these emerging feature sets. SalesLoft acquired and integrated NoteNinja (meeting management) and Costello (opportunity management) into its platform.
SEP Vendors have taken two approaches to partnering. SalesLoft, Outreach, and Xant have partner App Directories while the other vendors integrate key vendors (e.g. Vidyard, LinkedIn Sales Navigator, Zoominfo) into their offerings without a formal partner ecosystem directory.
For B2B sales, there is no social platform more trusted than LinkedIn. Sales reps can leverage their networks by sharing marketing content (they should include some comments of their own) as well as writing their own content.
LinkedIn also offers an excellent Sales Intelligence product called Sales Navigator. It is available as both a desktop and mobile solution and provides additional communications channels:
InMail: An outbound email alternative, InMail allows you to message prospects for whom you lack emails and direct dial numbers.
Chat: A quick short-message way to keep in contact with members of the buying committee. It is also useful for quick reach out after establishing a LinkedIn connection with a prospect or to send a quick, congratulatory note. Chat messages are retained archivally, providing a conversational log. I have had success providing my Calendly link with initial chats, providing a mechanism for new connections to easily schedule a call (my Calendly includes my video meeting details so there is little friction).
Smart Links: Forward one or multiple attachments to a prospect via social, InMail, or email. Viewing and forwarding are tracked by LinkedIn, helping reps know which content was viewed and when. Forward tracking helps expand their understanding of the buying committee. Smart Links maintain corporate branding.
Sales Navigator provides several other high-value features:
SNAP connectors display LinkedIn content and Navigator functionality (e.g. icebreakers, mini-profiles, InMail) within Sales Engagement Platforms, CRMs, and other enterprise software.
TeamLinks allow you to leverage co-worker relationships for reaching out to prospects.
Build a List lets reps assemble Lead (contact) and Account lists within Sales Navigator. Lead and Account lists may also be synced from the CRM, allowing reps to track news and updates about key companies and contacts. While LinkedIn does not permit upload of account and contact data, they make exceptions for notes, tags, and messages entered by the rep in Sales Navigator. They also just added a thin record upload of contacts to CRM and the ability to flag execs that have left a company.
List Sharing — After building a list, users may share them with co-workers who have Sales Navigator licenses.
Sales Navigator can be a bit pricey, so running a test amongst your inside sales and field sales reps makes sense, particularly if you are concerned about H1 pipeline delays. Given the difficulty of reaching anybody by phone (made worse by prospects working at home) or email, adding additional sales communications channels is well worth testing out.
There are other LinkedIn services worth investigating or trialing. LinkedIn Marketing supports highly targeted B2B campaigns. Unlike other platforms, LinkedIn can target by company, job function, level, industry, geography, and education. LinkedIn provides campaign metrics and allows marketers to set daily budgets. Both CPM and CPC pricing are available. Pricing is based upon second-best auctions (you pay 1 cent above the second best bid price).
For larger companies, LinkedIn Elevate should also be considered, particularly with remote workers. Elevate provides a curated feed of content to company employees for social media distribution (e.g. LinkedIn, Twitter, and Facebook). Elevate amplifies corporate messaging and reduces the level of effort for sales reps and other employees to share content through social networks.
LinkedIn Learning is offering sixteen courses at no charge covering topics related to working from home, remote management, tools, and mindset.
“In the coming days, we will make 16 LinkedIn Learning courses available for free including tips on how to: stay productive, build relationships when you’re not face-to-face, use virtual meeting tools (Microsoft Teams, Skype, BlueJeans, Cisco Webex and Zoom), and balance family and work dynamics in a healthy way.”
Ryan Roslansky, LinkedIn SVP of Product
Sales Intelligence services help sales reps build prospecting lists, quality leads, refine account messaging, expand into new departments and locations, track accounts, and target additional buying committee members.
Many sales intelligence services also offer B2B DaaS services for updating CRMs and MAPs. Salesforce data hygiene is maintained through Lightning Data connectors, a sub-category on the AppExchange. Because data is synced with CRMs and MAPs, it is continuously updated, ensuring that firmographic data is accurate and that departed contacts are removed from sales and marketing activity (BTW — contacts decay at 30% per annum, so maintaining your enterprise software contact data is a valuable investment)
Sales Intelligence vendors also provide full workflow integrations into CRMs which allow reps to build lists; view and update accounts, contacts, and leads; and perform account qualification and account planning within CRM I-frames.
Sales Intelligence vendors include
Zoominfo: Deep contacts, emails, org charts, and technographic content. They are the leader in technology sales intelligence and recently added visitor intelligence, trigger-based workflows, and webforms. Zoominfo (FKA DiscoverOrg) also supports Ideal Customer Profiling (ICP), email verification, and B2B DaaS.
D&B Hoovers: The deepest set of global company intelligence for strategic sales reps. Includes full family trees, public company financials and filings, analyst reports, industry market research, SWOTs, European private company financials, and sales triggers. Dun & Bradstreet also supports ICP, B2B DaaS, Visitor Intelligence, Programmatic Marketing, and Customer Data Platforms.
InsideView: A global database with greater depth in North America and Europe, InsideView offers strong sales triggers and integrated social media viewing. InsideView also supports B2B DaaS and ICP.
Sales Genie: The best solution for reps that sell to both companies and individuals (e.g. insurance agencies, mobile, office supplies, landscaping). Features include light sales force automation for firms that have yet to implement a CRM, new businesses, new homeowners, email templates, integrated dialer, and marketing services (SEO, site design, direct mail).
RelPro: A specialist vendor targeting financial services companies.
Artesian Solutions: A UK-based social selling vendor with deep sales triggers and mobile-based meeting prep. They also offer a US solution.
Cognism: A UK-based sales intelligence vendor with sales engagement functionality, B2B DaaS services, and ICP tools.
Vainu: A Nordic-based sales intelligence vendor that also covers the Netherlands (France, US, and the UK are in beta). They also support B2B DaaS and trigger-based workflows.
Research has shown that firms that continue to invest during recessions come out of the downturns much better prepared to grow market share and revenue than those that stop investing. Marketing is an investment in your pipeline and brand. B2B Data-as-a-Service is an investment in your data quality and ability to target prospects effectively. It also reduces sales and marketing waste in efforts directed at weak prospects and departed contacts. SalesTech and MarTech purchases are investments in your revenue generation capabilities.
This is also an opportunity for your sales and marketing teams to cross-train, develop new skills, and test out new tools and processes.
When we come out of the backside of what, hopefully, is a short-term recession, you want to be better prepared to meet latent demand for your products and services. While cutting back on investment and cash burn may be necessary for survival at some companies, don’t cut back on your ability to serve the market in 2021 unless you have to do so. Let others sacrifice the future of their revenue generation operations out of short-term concerns. Bank your savings in travel expenses and event marketing, but don’t cut back in other areas unless necessary.
We are entering a terra incognita for the next three to six months, so steady, empathetic leadership should be your objective. On 9/11, our CEO pulled us into the room and talked to us. I don’t remember his words, but I remember that he was calm and understood that we were all upset and anxious. Business was the least of his concerns that day. He wanted to show a steady hand at the tiller and sent us home to be with family.
Our raison d’être is not to work, and sometimes we are jolted back into that reality. Family, friends, and health are a higher priority. COVID 19 is not the new normal, but simply a bad storm that will pass.
Sales Navigator is rolling out its Q1 release to clients. Contact Creation (discussed yesterday) is the lead feature, but Smart Links is equally important as it delivers another communications channel for the sales intelligence service.
Smart Links, their second-generation file-sharing service, replaces PointDrive. Smart Links is available in the Team and Enterprise applications for sharing one or multiple attachments via Sales Navigator, social media, InMail, or email. Smart Links maintain company branding and rep contact information while tracking attachment opens, views, and shares. It is displayed as a top-level Sales Navigator feature.
“Users will be provided with real-time insights on how recipients are engaging with content. These insights can be used to ascertain interest, personalize follow-ups, and identify other stakeholders in the buyer’s circle.”
LinkedIn Sales Navigator Product Director Lyndsey Edwards
recipient views the document, an alert is sent to the sales rep. Smart
Links also capture when attachments are forwarded, helping the rep expand her
knowledge of the Buyer’s Circle.
“It’s getting more and more complicated in business-to-business marketing to understand the buying circle,” said product chief Lyndsey Edwards.
Smart Links will be integrated directly into users’ inboxes.
had a limited number of monthly PointDrives they could share, sales reps now
have unlimited Smart Link access.
Smart Links have fewer steps, making it significantly easier to share attachments. PointDrive usage was lower than anticipated, probably due to the number of steps required to set up and personalize a PointDrive.
LinkedIn rolled out its Q1 2020 Sales Navigator release, the first quarterly release under their new product chief Lyndsey Edwards. Expanded features include contact creation, a redesigned PointDrive service (now called Smart Links), search enhancements, job posting growth alerts, and enhancements to the home page and mobile app.
Contact Creation is the biggest enhancement in the release. Like the Data Validation flag last quarter, Contact Creation is a limited data sync solution that is bounded by their member data privacy agreements. Contact Creation allows reps to create CRM contact records from within Sales Navigator. While other Sales Intelligence vendors provide full contact records including email, direct dial, job function, job level, and social links, Sales Navigator only supports the following fields (of which only four are pre-populated):
First Name (Pre-populated from Sales Navigator)
Last Name (Pre-populated from Sales Navigator)
Job Title (Pre-populated from Sales Navigator)
Country (Pre-populated from Sales Navigator)
noted that the average CRM instance has roughly half of its records out of
date. Reducing record creation and update workflows help address this
problem. LinkedIn can be particularly helpful in identifying executive
departures and title changes, hence last quarter’s data validation flag.
However, Contact Creation only pre-populates four fields. Thus,
sales reps either need to have the other details available when creating the
contact record or upload a stump record, which is later populated by a
different vendor (e.g. Lightning Data partners on the AppExchange). While
other vendors allows lists of Account, Contact, or Lead records to be uploaded,
only a single contact record may be created at a time from Sales Navigator.
really leaning into our relationships with CRM vendors over the past couple of
quarters,” said Edwards. “It’s an age-old problem that isn’t getting
better. We think we can help in a pretty meaningful way. When
people change jobs, they update their LinkedIn profiles first.”
matching and duplicate checking are performed.
Contact Creation is available for Enterprise clients only. Admins must turn on CRM Sync for Salesforce. Microsoft Dynamics 365 for Sales contact creation is in beta.
Part II of my release coverage discusses Smart Links, their next-generation PointDrive service.
Sales Navigator added two more Saved Account Alerts: headcount growth and Senior Leadership Hires.
When sharing lists, owners may now designate them
view-only or editable.
“List collaborators with edit permissions will be able to add, remove, and comment on Leads or Accounts within a Shared List, and alerts will be sent to collaborators when Leads or Accounts have been added to or removed from a Custom List or when there are new comments on a Custom List.”
LinkedIn Sales Solutions VP of Product Management Doug Camplejohn
LinkedIn added SNAP integrations for Tableau and Power BI. They also extended SNAP integrations to Oracle Sales Cloud Lead and Account pages (Contacts were already supported).
Teams will benefit from improved TeamLink recommendations on “who to reach out to first for a warm introduction, using connection strength scores based on a members’ interactions.”
Finally, LinkedIn teased an improved PointDrive service that will be “deeply integrated” into Sales Navigator beginning in early 2020. PointDrive provides sales reps with a custom landing page for delivering multi-media content with descriptions and company branding. The multi-quarter release will streamline access to PointDrive functionality. However, PointDrive will no longer support shared content.
SalesLoft Leveraging Data Validation Flag
SalesLoft is one of the first vendors to take advantage of the Sales Navigator Data Validation process. SalesLoft uses the Data Validation flag to notify the SDR or sales rep. SalesLoft automation rules can then trigger workflows based on whether a prospect on the decision-making committee has left or whether an admin or champion at a customer has changed jobs. These insights help reps evaluate whether an opportunity may be in jeopardy, the likelihood of closing this quarter pushed out, or they need to move quickly to identify new buying committee members or champions.
“Customers leveraging LinkedIn Sales Navigator
Data Validation are now able to use real-time insights to influence critical
workflows when their prospects and customers change jobs,” said SalesLoft CMO
Sydney Sloan. “Ultimately, this saves time spent reviewing customer data
manually, and it will increase the quality of all opportunities as salespeople
progress through the buying cycle.”