If you’ve implemented Social Selling into your organization, I applaud you. But you may have neglected to include one of the most important components of developing a Social Selling program: measurement. You need to build accountability into your key performance indicators (KPI). But how do you measure the effectiveness of your Social Selling efforts? The answer may be in a tool you probably already use: your CRM software.
Every sales organization uses a CRM software. You may use Salesforce, Microsoft Dynamics, or something similar. But no matter which CRM software you use, every organization needs to implement a way to track Social Selling within their CRM.
However, tracking your Social Selling through your CRM is only one part of measuring a Social Selling strategy. There are actually three indicators you need to be looking at.
Learning and the desire to learn have a direct correlation to success. In other words, those who do the work to become engaged in learning ultimately become more successful and generate more revenue. The way to measure learning behaviour is through a learning indicator. At Sales for Life, we’ve created a Learning Behaviour Index, which measures student engagement. It measures such factors as: Are students engaged in learning? Are they participating in the learning calls, attending class, completing assignments, and absorbing the curriculum?
A Learning Behaviour Index will help to predict which of your sales reps are going to be most successful in the future.
Current Indicators measure your day-to-day social media activities. Tools such as the LinkedIn Social Selling Index Score, PeopleLinx, HubSpot, and others, will help to create accountability for sales reps sharing content, starting conversations, and identifying prospects using Social Selling. In short, current indicators allow you to measure if your sales reps are implementing what they’ve learned.
This is where your CRM platform comes in. A CRM is an important tool to help you measure lagging indicators, such as new leads, generating new accounts, or creating new opportunities based on social activity. Because a CRM is a lagging indicator, it won’t show you how to close a deal immediately. But it will show you past data so you can see what will most likely help you to close deals and increase revenue in the near future.