Today, LinkedIn is making social business even easier with the launch of their new LinkedIn Sales Navigator, and we here at Hearsay Social are excited to enable financial services customers of both LinkedIn Sales Navigator and Hearsay Social with enhanced compliance and content publishing capabilities to support this new product.
Financial services professionals using the expanded features of the new LinkedIn Sales Navigator can rely on the same compliance and content support they’ve always enjoyed with LinkedIn and Hearsay Social.
Designed specifically for the sales professional, the new LinkedIn Sales Navigator combines LinkedIn’s network data, relevant news sources, accounts, leads, and preferences in a customized, stand-alone experience for your day-to-day sales needs. The new LinkedIn Sales Navigator leverages the power of LinkedIn’s 300+ million professional network to help sales professionals focus on the right people, stay informed on key updates, and build trust with prospects and customers.
So what does this mean for financial services professionals and particularly Hearsay Social customers? As part of LinkedIn’s Certified Compliance Partner program, Hearsay Social is helping to ensure that the new LinkedIn Sales Navigator will be ready for the financial services industry. We’ve been working with LinkedIn’s product team to ensure that all new features and functionalities on the new LinkedIn Sales Navigator are backed with Hearsay Social’s leading compliance platform.
Drawing on our deep experience in enabling social business for financial services, Hearsay Social will provide compliance capabilities for the new Sales Navigator. Existing customers should look for more information about using the new Sales Navigator in financial services in the upcoming months. We’re incredibly excited to help bring the new LinkedIn Sales Navigator to the financial services industry. LinkedIn and Hearsay Social believe that social media represents an enormous business opportunity for our customers. By combining Hearsay Social’s advanced compliance and content delivery with LinkedIn, the largest professional network on the Web, financial services professionals will be able to better prospect, build sales relationships and grow revenue while enabling social media compliance.
By Dan Swift (Director Financial Services, LinkedIn Sales Solutions) and Ron Piovesan (Vice President, Strategic Alliances, Hearsay Social), who recently hosted a Social Media Strategies Workshop in New York.
Social selling leverages your professional brand to fill your pipeline with the right people, insights and relationships. Why has social selling seen such high adoption rates? The buyer’s process has changed:
According to the CEB (Corporate Executive Board, 2013), 5.4 people are now involved in the average B2B buying process.
The CEB also shared last year that 75% of buyers are using social media for research.
The Harvard Business Review in 2012 shared that 90% of decision makers say they never respond to cold outreach.
Sales in 2014 is the art of navigating and getting ahead of these trends. Leading to the point of sale, a revenue producer must stay in contact with the prospect to provide relevant and compelling information so as to always remain top-of-mind.
LinkedIn and Hearsay Social understand the modern sales process and have teamed up to help financial services professionals capitalize on the moment a client wants to make a purchase.
How Sales Navigator supercharges the LinkedIn experience
The LinkedIn Sales Navigator program is the premier social selling solution, allowing revenue producers to find, relate and engage with the best prospects on LinkedIn. Revenue producers can maintain contact with an ever-growing target list and move prospects along the funnel from initial interest to final sale.
The benefit is demonstrable. After using LinkedIn Sales Navigator for only 11 weeks, a major wealth management firm was able to connect with new clients, rapidly build new relationships and bring in more than $100 million in new investable assets. This is an actual benefit realized by a wealth management firm in the market today. How? By being notified by LinkedIn of life change events such as a job change and surfacing the person in their network who can provide a warm introduction. Referral selling at scale!
LinkedIn Sales Navigator is a premium subscription purchased centrally on an enterprise basis for revenue producers. The program also includes targeted training and education for the duration of the agreement.
This supercharges the LinkedIn experience.
Depending on their specific strategies, financial advisors are using Sales Navigator to identify C-Level executives, partners and business owners on LinkedIn in particular industries or at particular companies. They then see who in their networks can make referrals into that target audience.
Commercial bankers are going a step further by reaching out to business owners in their third degree to start sales conversations. The benefit is scaled exponentially in collaborative teams as Teamlink helps revenue producers share contacts and find the best way to enter and grow an account.
LinkedIn and Hearsay Social are seeing more and more traction in the insurance sectors where agents are looking for benefits managers and brokers. Revenue producers across the financial services, banking and insurance sectors are saving these prospect lists and receiving daily updates of new perfect prospects along with relevant insight gleaned from a member profile and the name of the person in their network that could make the referral. Why go in cold?
Using LinkedIn Sales Navigator and Hearsay Social to grow business
To harness the power of the LinkedIn Sales Navigator platform, insurance and financial services firms face the unique hurdle of regulatory compliance, as well as the need to access tools that make a revenue producer effective on social.
This is where Hearsay Social comes in. With over 85 leading financial services customers around the world including Raymond James, Penn Mutual, and Thrivent Financial, Hearsay Social’s 1-2 punch of its content library and compliance engine means that revenue producers always have access to compelling information to compliantly share on social.
The content can come from a third-party news source, the corporate marketing department or even be developed by the revenue producers themselves. Hearsay Social also has content partnerships so producers will always be able to engage their prospects in the most compelling way. And all these conversations can be as open or as closely monitored as compliance officers choose. Compliance sets the social media rules, and the Hearsay Social platform implements.
Hearsay Social also integrates with enterprise governance and archiving systems so access can be controlled via single sign-on, and conversations can be stored in a compliant WORM archive.
These and other topics were discussed at an exclusive recent event at the LinkedIn headquarters in the iconic Empire State Building in New York. A packed room of senior insurance, banking and financial services executives heard case studies, saw demos and learned how to use LinkedIn Sales Navigator and Hearsay Social to build new relationships.
Watch out for other such events happening soon. If you’d like to connect to get more information, please do so with LinkedIn at email@example.com or Hearsay Social at firstname.lastname@example.org.
Even after 28 years of doing B2B technology sales, I am still looking for new ways to crack old problems. Last week, LinkedIn helped me crack an old problem by allowing me to complete a key sales task more accurately than traditional methods, and at a fraction of the costs.
B2B selling has a pretty simple set of fundamentals:
Determine your target market
Make a list of the companies in that target market
Compile a database of the targeted decision makers for your product
Create a sales and marketing plan to get your value proposition in front of those decision makers
But executing step 3 has always proven extremely difficult.
I often felt forced to spend large amounts of money with list brokers or broadly-based marketing companies who promised to get my team’s message in front of decision makers. Sometimes we contracted small companies who promised detailed organization chart profiles of Fortune 500 companies, or we paid third-party calling companies to build a contact list for us.
In reality, all these strategies pretty much sucked. Any data that I have ever bought has been incomplete and outdated. Today, as the pace of career movement speeds up, those old methods produce even more outdated results.
But LinkedIn has changed all that. You don’t need to rely on third parties to update contact data because your individual, targeted decision makers keep their contact information updated themselves! It is rarely out of date and largely available to any social media savvy B2B salesperson.
As we learned at LinkedIn Sales Connect earlier this year, the world’s largest professional network is a gold mine for the modern salesperson.
At Hearsay Social, we go one step further: all our customer-facing people are licensed for LinkedIn Sales Navigator, a fee-based subscription that supplements the free LinkedIn product. Sales Navigator gives you advanced search capability and allows you to see deeper and more broadly into LinkedIn’s network data. It also gives you the ability to see if anyone at your company is already connected to your targeted decision maker. Think of it as Linkedin on sales steroids.
Using Sales Navigator, our team executed a blitz last week of sales contact research. We bought no lists and we didn’t pay for any database tools. We simply used Sales Navigator and a little elbow grease. LinkedIn Sales Navigator allowed our small company to accomplish a key go to market task at a fraction of the cost of traditional methods. More importantly, it produced results that are likely 5X-10X more accurate than traditional approaches. Better and cheaper is essential to competing today.
As a closing note, I’ll also mention that the Hearsay Social platform works well with Sales Navigator, so we always encourage our customers to use both–we’re already seeing huge successes there. If you are running a sales organization today, I can’t imagine you doing so without Sales Navigator!