Stay in the latest updates. Get the latest tips and advice delivered straight to your inbox. Email Guy Nirpaz | November 16, 2011 | Top 5 Trends in Sales 2.0 It was a jam packed day at Sales 2.0 in Santa Monica today. It was a great opportunity to meet with and learn from some of the brightest in the Sales 2.0 community. I have summarized my key takeaways for Sales 2.0 leaders below: #1 – Attract many, then focus on filtering If your prospects do research online, will they find your company, or your competitor? Mark Roberge, VP Sales from HubSpot argued that you should keep the top of your sales funnel as broad as possible. Attract as many people as possible to your website through good content. HubSpot itself is attracting 50,000 leads a month, of which 40% get passed to the inside sales team and about 400 (or less than 1%) convert into new customers. The leads that don’t convert still help to reinforce the HubSpot brand and trust. With so many leads, strong filtering and lead scoring algorithms are keys to sales success. #2 – Give all sales people a social media address Scott Holden, Senior Director at Salesforce.com argued that not just companies need to be discoverable, but also individual sales representatives. Social pages are often the first ones to come up in search results. Darren Suomi, VP Sales from HootSuite called it “giving all sales reps a social media address”. He said it is no different from issuing a rep a cell phone and e-mail. IBM indeed has done just that, said Douglas Hannan, BU Executive at IBM: all 1,000 IBM sales reps have a web page with built in 2-way video and chat. They are also asked to get on Twitter and LinkedIn. IBM marketing maintains a social messaging calendar to make it easy for reps to find content to post. #3 – Deliver value first, sell later Jim Cathcart, the well-known author of “Relationship Selling”, defined what customer relationships are all about: in a relationship people know each other and have an exchange of value. Ask yourself: who is truly glad to know me? In a sales relationship, provide value first, sell later. Don’t talk about up selling customers, but rather up serving them. If you do a good job others will vouch for you and recommend your services. Scott Holden summarized this as moving from self-promotion to social referrals: “trust me, he is a great lover” and not “I am a great lover”. I expressed a similar sentiment in my blog earlier this week on Genuine Customer Engagement. #4 – Use online demos to drive sales Salesforce.com recently did a survey of 1 million influencers in the buying process and found that 50%-70% of sales processes start long before a sales person ever gets involved. The most important deciding factor in the sales process was “online demos”, not sales person interaction. HubSpot data points in the same direction: the most reliable indicator that a lead will convert into a customer is a request for a demo (46%) as compared to download a white paper for example (22%). As we discussed in many blogs including Trial Conversion is Top Priority in SaaS, I would add that interaction with a free trial version of your product has an even higher correlation with conversion to customer. #5 – Consider a territory model based on social proximity A somewhat radical idea was presented by Michael Lodato from Network Hardware Resale. He argued that in a commodity business (he sells network hardware) buyers are deciding based on personal relationships and customer service. Therefore he moved to an open territory model, where leads are assigned based on the personal relationship of a rep to the lead, rather than geography. On paper this social proximity model sounds great, but in reality it is still difficult to implement. Michael admitted to have a team of marketers manually assigning leads based on social parameters. #6 – Move towards a lower touch model Gerhard Gschwandtner pushed speakers to learn from B2C selling models: Amazon has $30 billion in sales with ZERO sales reps. B2B companies need to learn from this and move to lower touch selling models, wherever possible. One of the speakers, Rini Das from PAKRA, has achieved just that. She is closing 95% of her business based on social media leads. She has hardly met any of her clients in person, but is still doing $30,000 to $150,000 in revenues per customer each year. Gerhard and gang; thank you so much for a great conference! Tomorrow: Enterprise 2.0! Popular Posts A day in the life of a Customer Success Manager: What do they do? 15,902 views The difference between Customer Success Managers and Account Managers 12,963 views Your 90 day plan as a new VP of Customer Success 5,518 views Guy Nirpaz Guy Nirpaz is a Silicon Valley-based Israeli entrepreneur and CEO of Totango, a Customer Success software platform. A pioneer in the Customer Success field, Guy established the Customer Success Summit and is a well-regarded industry speaker and community contributor. Guy loves people and technology and has dedicated his career to improving the way in which business is done through innovation. Fun Facts: Guy moonlights as the lead guitarist in a rock band based out of his garage in Palo Alto and used to command a tank battalion...as well as having grown oranges. Pingback: Fins new ways to cut overhead | Mark O'Brien Writing Services() Pingback: Top 5 Trends In Sales 2.0 – WollyTech() DL Great tipps, I’ll think about it. DL Great tipps, I’ll think about it. DL Great tipps, I’ll think about it. Pingback: 4 Tips For Better "Socializing" | Marketing Technology Blog() Sheeraz1983 Nice Article i like it http://techneetech.blogspot.com Sheeraz1983 Nice Article i like it http://techneetech.blogspot.com Sheeraz1983 Nice Article i like it http://techneetech.blogspot.com AJ Perisho These are great recommendations! It’s the combining of marketing and sales, which seems to be new for many:-) AJ Perisho These are great recommendations! It’s the combining of marketing and sales, which seems to be new for many:-) AJ Perisho These are great recommendations! It’s the combining of marketing and sales, which seems to be new for many:-) Ilias Chelidonis Number 3 is key to long term sales leads generation, however, few people get it. Ilias Chelidonis Number 3 is key to long term sales leads generation, however, few people get it. Ilias Chelidonis Number 3 is key to long term sales leads generation, however, few people get it. Pingback: 6 Social Selling Tips to Implement Today (from Sales 2.0 San Francisco)() Pingback: Best of 2011: SaaS Sales Models Tips() You might also like You might also likeGrowth Hacking with User BehaviorTotango Named a Finalist in Three Categories for 2016 CODiE AwardsEasy-to-miss customer success blunders that can cost you customers BACK TO BLOG | NEXT ARTICLE Let's stay in touch! We’re passionate about customer success. Sign up to get the latest in thought leadership and to follow our adventures.