How to capitalise on the great resignation; to sell more and how to find and retain the best sales talent, Tim Hughes

In this article by LinkedIn, they talk about how the "great resignation" or the "great reshuffle" can impact on selling organisations.

First the impact is the lack of talent in the marketplace

According to research, "turnover is unprecedentedly high, it’s particularly acute among sales teams. Globally, job transitions among sales professionals are up an astonishing 39% over the last three months, according to insights from the LinkedIn Economic Graph."

This has a major impact on business, as sales people are on-boarded and trained only to leave, this is a massive overhead in cost in $ and effort in time.

The second is on the people you are trying to sell to

In a recent survey found 80% of salespeople have delayed or lost a deal because of a job change within an account. It’s difficult to sell into a moving target.

Where as, in the past you might have one sponsor and one economic buyer, now you need to have multiple sponsors and economic buyers.

So what can your business do to counter this?

Empower your team(s) with social media and social selling

In our social selling and influence course we teach and coach, sales people so they have a social media profile that is attractive to buyers. It sounds like witchcraft, but buyers will walk towards your sellers rather than run away.

We also teach and coach salespeople how to build a digital territory at scale, LinkedIn call it multi-threading. It's the ability for your sales team to have multiple contacts, multiple sponsors and multiple economic buyers within an account.

LinkedIn say "Multithreading – i.e. forming relationships with multiple people on the buying committee at an account – is always a best practice. For proof – insights from LinkedIn Sales Navigator show that sellers who are connected on LinkedIn to at least four people at an account are 16% more likely to close a deal with that company, compared to sellers who have less than four connections."

You actually don't need Sales Navigator, but it can help if you do, the trick always with sales nav is that you need to understand what it takes to be social, otherwise you can be the world's best spammer.

Thirdly we teach and coach salespeople how to create content that will provide insight, entertain and support buyers. The type of content buyers are looking for, rather than the brochures and brochureware that is ignored by buyers.

This will provide your business with a framework and a methodology to sell, it also provides a platform for you to find and get the best talent.

Salespeople are on social and they will be looking for the best places to work, as soon as you implement a programmatic approach to social and digital selling and they will be attracted to work at your company.

So who's social selling?

In case you missed it, the Bank of America’s Merrill Lynch have banned cold calling and have moved all their people to social selling. This isn't some trendy tech company that might have decided to do this on a whim, this is a very conservative financial services company that has made a decision based on data.

But surely cold calling has a better ROI than social selling? Not according to Merrill Lynch.

"They will also be encouraged to contact prospects over LinkedIn, which has a higher hit rate than cold calling"

The CRO (chief revenue officer), Richard Eltham of Namos Solutions, of one of clients posted a comment on LinkedIn about social selling. See here.

“Social selling is not an option now it is the way of the world and you either learn and execute it or fear getting left behind”

Kevin Murray who is the Head of Sales at MacArtney Underwater Technology recently posted about his success with social selling here and wrote an article about the transformation that has happened in sales here.

I don't believe you Tim!

If you check out this video of Chris Mason CEO at Oracle reseller Namos, fast forward to 19 minutes 55 seconds. Chris talks about a $2.6 million win from being on social, after completing the DLA Ignite social selling and influence course.

Here at DLA Ignite we don't do "hints and tips sessions" we don't want you to waste your money. Our social selling and influence methodology will provide your sales team with the stable platform for growth. It is also the only social selling program based on 70:20:10 change management principles which gives your business the mindset change and habit change they need in this digital world.

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The world is in the midst of a “Great Reshuffle” of talent, as job transitions globally are up 28% in the last three months, according to insights drawn from the LinkedIn Economic Graph. And turnover among corporate director-level-and-above – i.e. the mass of B2B buyers – is up 31% globally over the last three months.

https://www.linkedin.com/business/sales/blog/modern-selling/how-salespeople-can-adjust-to-the-great-reshuffle