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SPECIAL

REPORT

TM

From Sales 1.0 to Sales 2.0

The Internet has changed the way customers buy. Are you still clinging to the old ways of selling? Have you tied your salespeople’s hands behind their backs, forcing them to win battles with obsolete tools? It is time to take a closer look at the latest Sales 2.0 tools that can help you run your sales operation at far greater levels of productivity and efficiency. Sales 2.0 combines customer-focused processes with Web 2.0 technologies to enhance the art and science of selling while creating customer value. On the following pages, we share the most important and most effective Sales 2.0 solutions. We also describe the potential impact of these solutions on your sales organization.

SALES 2.0 JULY/AUGUST 2009

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Dow Jones helps you breadth of relationship that protects your deal? The answer is stay on top of your existing accounts. It can provide early warning of what’s going on in their sales of management moves. Retaining. sales representatives spend their valuable More importantly. 42 JULY/AUGUST 2009 SALES 2. resulting in dead deals and no position your offering to meet that revenue coming in. and opportunities. Dow responding to their changing business needs. industry. please visit www. And if that weren’t enough. more than a quarter of all B2B sales cycles take seven months or companies. and you can click you find the companies that will the customer’s buying process. Jones is also a company that provides information about busiDow Jones provides solid business intelligence throughout ness and companies and the executives who run them. you can set up trigger events that complex.SPECIAL REPORT TM Dow Jones Turns Information into Business Intelligence Let’s face it: Selling has never been more difficult. explore. prospects based on more than 35 criteria. or off. tion. That’s 25 percent 2. the sales process is getting longer and more vices.solutions. and make connections to key executives.com/sales. make it ever harder for prospect is ready to make a decisales representatives to keep track sion. news. The tight economy keeps doors closed and budgets small. featuring more than 28 million executives and 17 right companies. targeted lists of enue and profit. Dow Jones provides the world’s most complete collection mat at the right time to the right people. Dow Jones automatically shifts in the business landscape. a sale.. sales of news and data about global companies. As a result. Prospecting. Most importantly. to extend your network and discovers up-sell opportunities so Some sales professionals may regard Dow Jones as simply a that you continually strengthen your customer relationships by way of measuring stock-market performance.ensure your leads are dynamic and reflect timely opportunities. million companies worldwide in a comprehensive database. target’s needs.0 . product territory. etc. take advantage of the social netimpacting your prospects and clients To make matters worse. including locaFor more information. and connect to people. while year-to-year revenues from existing customers are down sharply across a broad swath of industries. industries. You can discover multiple declining year over year. the numworks across your organization and ber of deals that actually close is beyond. revenue. In the sales cycle. At the same time. Industry analysis shows that more than half of all com. more to close. real-estate purchases.dowjones. This helps ensure that you It’s tough out there. find a third of all forecasted deals lost colleagues who know the prospect. target the executives. New any other event that might influence managers bring different priorities. Dow Jones helps you Easily find opportunities with news events longer than just six years ago. rapid 3. Decision makers are laid launches. In addition. It identifies new contacts Dow Jones. panies report that it takes six or more calls to close a deal! In fact. According to industry research. and representatives can flush out new opportunities. and. And that means more rev1. Projects are put on hold. Dow Jones helps you unearth. More and more sales tion and news coverage on your cycles are being completely wasttarget. you can better ed. So how do time your sales activities to match The boxes indicate the volume of news. providing the right information in the right forfact. with nearly ways to connect to your target. Dow Jones has figured out how to make that time developing the best opportunities prioritized around the information useful during all stages of the sales cycle: companies that are prepared to buy. Dow Jones lets you build rich. more than 40 percent of sales representatives are under quota. to drill down to view headlines. finds and can deliver via email or with mergers. With Dow Jones. keywords. However. invest now? How do you build the 4. Selling. layCRM key events that signal that a offs. Qualifying. and nearly a fourth ending in no plus access biographical informadecision. even during difficult times. unlike other such ser. reorganization.

what you want is a CRM system that has built-in reconfiguration. Customization. to determine which vertical market has the deepest penetration of existing customers and which new vertical may be ripe for the picking. should have “export forecast” or “export opportunities over a certain revenue value” as quick actions pinned to his or her personalized navigation bar. rendering the coded modification obsolete. drag-and-drop interface. they should see information tailored to their specific roles.com. Unfortunately. so they reflect your specific business model. If your IT staff is overburdened by other projects. more importantly. Whether that’s easy or difficult will depend greatly on whether your CRM implementation can reflect the nuances of your business without requiring expensive recoding. The solution should be intelligent enough to present only information relevant to the role or function the sales rep is currently performing. causing your CRM implementation costs to spiral out of control. suppose a sales manager wants to expand his or her foothold in the Northeast and plans to host a seminar for a vertical market in Boston. The trick. by industry. a sales professional or sales manager should be able to quickly implement and tune changes. For more information. who needs a higher understanding of the account’s overall revenue potential. geographies. The coding alone is time-consuming. rather than display a horde of irrelevant fields and screens. At the most rudimentary level. and the evant system. to transform information into action-oriented knowledge. and/or channels in your growth plan? If so. Such customization can be long and complicated. By contrast. is to use configuration to transform data into information and. Making the extra effort to scrutinize CRM configuration capabilities during your selection process will be richly rewarding when your system is up and running. with the difficult coding involved. your business requirements or the market conditions may have changed. For example. before the changes can be rolled out to users. For example. calls for a skilled programmer. then.0 JULY/AUGUST 2009 43 . By the time they’re ready. you’ll have to wait in line for your changes. The ability to transform data into action-oriented knowledge is one of the most powerful potentials of CRM but is often the most overlooked criterion in CRM selection. when a sales rep and a sales manager access the account screen.goldmine. With GoldMine’s configuration capabilities. you’ll need a CRM system that can grow and evolve as you reinvent your business. One CRM product that definitely has this capability is GoldMine from FrontRange Solutions. The CRM solution should also enable you to create a personally rel- SALES 2. The sales rep’s screen should have quick actions such as “create a contact” or “create an opportunity” pinned to his or her personalized navigation bar. very few CRM systems are easily customized in this way.SPECIAL REPORT TM GoldMine’s Configurability Transforms Data into Actionable Knowledge Competitors nipping at your heels? Planning to introduce new products or services? Including new markets. Instead. Ideally. the sales manager. a CRM solution should allow you to add or edit fields with a point-and-click. the new code must be tested. a sales professional should be able to make the change without IT assistance. For example. that sales manager can quickly generate a view of all the accounts in Boston. if customer feedback indicates that your sales process workflow needs an addition. please call 1-800-443-5457 or visit www. process becomes even lengthier because.

Even the remaining field sales teams won’t be spending as much time meeting face-to-face. email tracking.” she explains. and other measures of buying behavior.000 more companies will host inside sales teams – and they’ll be using the telephone and the Internet to nurture. rather than on analyzing and interpreting Web-activity behavior. the company’s sales manager.5 percent clip annually.com/demo. though. According to a recent study by James Oldroyd of the Kellogg School of Management. and its competitors. a prospective customer visits your Website’s product page to learn more about a new offering. By 2012. That’s no longer true. With the prospective buyer now in control of the process.marketo. ServiceSource. As research and buying have moved online.SPECIAL REPORT TM Marketo Turns a Prospect Database into a Social Network B2B selling used to mean sending a road warrior to call upon customers face-to-face. it might be a good idea to give that customer a call. views a case study. corporate hiring of outside sales reps has leveled off at 0. “Marketo Sales Insight helps us closely monitor our clients. watches a demo. Because so much of the interaction is online. make your system understand. suppose that in response to a monthly newsletter. That’s not necessarily a bad thing – certainly customers are happy about it – but it does put sales reps at a bit of a disadvantage. To learn more about Marketo Sales Insight and Marketo’s solutions for marketing and sales teams. savvy rep may end up in the dark when it comes to knowing which leads and opportunities would appreciate a follow-up call. the process of selling has grown less personal. Unlike Twitter or Facebook. It then presents the rep with Facebook-style “status updates” from the leads and contacts they follow. Because Marketo analyzes and distills behavioral data from the Web. Selling has moved online and over the phone because customers prefer it that way.5 percent annual growth.0 . sales professionals can focus on selling. 44 JULY/AUGUST 2009 SALES 2. even a seasoned. Never before have customers been better informed and more likely to understand a vendor. As such. according to Katie Efstratis. it’s hard for a sales rep to use body language and gut instinct to decide when to pursue a deal or when to back off. more mechanical. and ultimately driven by the customer’s agenda. where the user has to post status updates. It allows sales reps to define a “social network” of leads and contacts that they are interested in following. and close sales opportunities. Oldroyd’s study discovered that more than two-fifths of all activities conducted by customer-facing teams were actually handled over the phone. then visits the pricing page – all within a four-hour period of time. and receive instant notifications so we can better respond to our clients’ needs and earn their renewal business. a provider of service-performance management. highlighting the key moments and events that might indicate buying interest. please visit www. sales and marketing teams can jointly decide. With Marketo Sales Insight. while hiring of inside sales reps is growing at a lively 7. send trackable emails. Marketo Sales Insight uses the collective intelligence of marketing and sales to identify key moments from an otherwise overwhelming amount of activity data derived from Web analytics. nearly 800. That’s where Marketo Sales Insight comes in. its products. and give you a heads-up: This behavior means that the customer in question is probably looking to buy a service contract. For example. develop. is a case in point. Marketo Sales Insight helps the entire team focus its sales efforts on the right people at the right time with the right response.

and exchange knowhow. the conversation isn’t captured and made available to others who may benefit from the same information. How to meet this challenge? Sales managers might consider using a new SaaS service. And it uses and ties together traditional communication venues such as email and IM with new Web 2.” For more information. and their response is sent back to the sales rep while it is organically captured. and for the onthe-go sales rep through email and mobile devices. please visit www. If you still don’t have all the crucial information you need. SellingEdge. According to Julie Thomas. the competency. people become separated by time and distance.com. addressing this issue can boost the number of sales reps making quota by 23 percent and improve the win rates of forecasted deals by 13 percent. and communities. sending out Hail Mary emails to broad groups of people. and the opportunity to readily converse and collaborate is lost. And 40 percent of sale professionals’ time is spent finding the information and knowledge required to do their jobs. it can automatically identify and connect you to the right people to the get the expertise you need. they merely respond to an email. It’s a serious problem. Fortunately. To support wide and easy participation.com acts like the ultimate virtual watercooler: • It is accessible from anywhere and at any time. cutting sales rep turnover by nearly a third. SALES 2. The challenge begins the instant an organization grows beyond a small team and can no longer easily gather in person to collaborate. As a company expands. To that end. such as wikis. experience.SellingEdge.com. “We find the application particularly helpful for identifying experts and encouraging collaboration and are very excited to roll out the solution to all of our sales professionals. A large part of the issue is sales reps’ inability to find and access the individual(s) with the know-how. tagged and stored in Selling Edge. And it also improves morale and retention. without bothering the expert or forcing the sales rep to embark on an expedition mission. blogs. is integrated with Salesforce. the system can answer it immediately.0 JULY/AUGUST 2009 45 . knowledge. expertise is scattered. and responsiveness of each of your sales reps is a critical differentiator.com Turns Knowledge into a Sales Tool Most everybody acknowledges that people buy from people.com. study after study suggests that buyers are unhappy with sales reps’ lack of knowledge and slow response. Next time a similar situation arises. 58 percent of buyers report that sales reps are unable to answer their questions effectively.com. SellingEdge. And even if they do. • It organically remembers and shares all conversations current and past. Sales reps are left making frantic phone calls. SellingEdge. According to a recent Cahners survey. and trolling through a variety of information sources. experts don’t need to sign on to the system.0 facilities.com readily opens the lines of communication across your company connecting sales reps to ALL the expertise. president and CEO of the sales training firm ValueVision. according to CSO Insights. • It allows you to collaborate asynchronously with others who have registered. SellingEdge.SPECIAL REPORT TM SellingEdge. ideas. and ideas needed. experience.com is readily accessible via the Web. insight and creativity they need to enable them to be more effective in today’s hyper-charged selling environment. people no longer know everyone else. Unfortunately. share experiences.

The resulting insight into what’s happening in your sales funnel can help you tune and transform your sales team’s performance. The proverbial sweet spot of sales analytics – the place where you can meld pre. where.com. actionable patterns – is your compensation system. understand what’s really different about those deals. at what price. When collected and analyzed. The starting point: knowing where to look. you can track the performance of your best contributors and understand what’s driving their success. You can even highlight the highest-margin deals versus those that have been heavily discounted. and product performance. and sales management. sales teams. But there is a way to eliminate that blind spot and increase your sales organization’s performance by gathering and analyzing the valuable data created from each sales transaction. bringing together all the data necessary for ongoing visibility and analysis of your selling performance. and at what commission level. Through a set of dashboards and interactive reports. this data can be leveraged for insights into selling patterns.SPECIAL REPORT TM Xactly Creates the Perfect Lens into Sales Performance with Analytics In this age of widespread business visibility. and you’re talking about a true sales performance management (SPM) system. contacts and opportunities) needed to manage the sales pipeline. The software lets decision makers more closely examine and better understand sales performance. The why and where of how you pay your sales professionals is the perfect lens through which you can best understand the entire sales cycle. And it can be combined with pre-sales CRM data for the fullest possible picture of what is going on in the field and to drive strategic sales behaviors in real time. recently added extensive analytics capabilities. Xactly Analytics provides a unified view of your firm’s sales metrics. 46 JULY/AUGUST 2009 SALES 2. As a result. it’s ironic that sales performance remains a dangerous blind spot for most companies. It can be used to gain visibility into commissions spend and sales-plan effectiveness. where anything that can maximize the value of your sales spend should be eagerly embraced. individual and team effectiveness. consistency. custom reports.and post-sales data to find useful. and sales compensation to ensure that the incentives in place are driving the appropriate behavior in the field. You can discover how commission spending is changing as a percentage of total revenue. and prebuilt analytic content makes it easier to manage sales performance. thus allowing you to quickly spot anomalies and issues and avoid costly mistakes. The value of data is well recognized by sales. a pioneer in ondemand SPM systems. this kind of post-sales data is more accurate because it has been filtered through the strict rules and financial controls of your compensation system. visibility. and compliance throughout the sales process. The combination of an ad hoc analysis capability. Combine that with the ability to easily use compensation to modify and alter sales behaviors. please visit www. and then take specific action to avoid discounts and encourage higher-margin selling. ensuring accuracy. This is particularly alarming given today’s macroeconomic conditions. product performance.. What’s more.g. But what about “post-sales” data? There is an enormous amount of potentially useful data produced at the time of sale – information about who bought what from whom.xactlycorp. That’s why it’s not surprising that Xactly. it’s never been easier to align your firm’s sales behavior with your firm’s strategic business objectives. Xactly Analytics delivers insight into what’s going on and what to expect to those who need it most – finance departments. CRM applications have revolutionized selling by helping organize “pre-sales” data (e. with what discount. For more information.0 . For example.