Measuring revenue, performance and forecasting in no joke. It get’s people fired and promoted! That’s why so many sales leaders either love or hate the idea of having their sales team using social media as part of the sales process. Micro-managers haven’t had enough experience with social media to accurately measure it’s success on the their salespeople or their pipeline. Innovators may have tried and failed to adequately measure the impact of their salespeople, pipeline or their spend on social media tools and training. We’ve been working with companies for over 10 years on harnessing social media and it’s potential while accurately measuring its impact on the sales process at scale. Most of these suggestions can easily be implemented by adding social media as a source to your CRM reports – and SocialPort takes care of the rest by streaming real-time activity data when your salespeople engage with a prospect on social media into your CRM.
Here are FIVE different ways we use our suggest integrating your activities with CRM to help sales leaders understand the impact of digital selling.
Social Selling Impact on Sales Pipeline
With so much data available to optimize processes, getting granular with introspection of your best and worst performing activities. This means tracking social media as a whole in it’s contribution to leads, opportunities, revenue, and more – but for those of you who like to slice-n-dice – also tracking the success of LinkedIn InMail vs Twitter DMs vs Emails, etc at each stage of the sales process. Most people start with a simple Revenue/Projected Revenue From Social report.
By measuring how fast leads (from social and others) are tracking their goals and moving through the pipeline during this reporting period is vital. Ensuring social media is added as a source and tracked against other sources let’s you know how well social media SQLs are comparing to marketing leads, etc.
Social Content Effectiveness
Getting your sales team on social media and sharing content is great in theory, but you also need to know if they’re doing it right. Which pieces of content that you sales team is sharing are getting people to sign up for landing pages or are driving advancement of the sales process.
Social Activity History
Having a clear understanding of which deals/sales have been generated by social media or have been advanced at various parts of the process is paramount. Many sales leaders can’t get an accurate depiction of the activity happening with a deal where social media played a large role yet because the activity wasn’t recorded. We help automate that.
Closed Won/Lost Ratio
Wouldn’t it be nice to know whether deals that were sourced or impacted my social media were leading to more wins or losses when compared to other sources? We agree.