We wanted to let you know about a recent article that Umberto Milletti, InsideView CEO, wrote about ‘the ROI from the Socialprise.’ The article offers insights into how and why the sales industry is increasingly shifting to employ socialprise techniques and provides specific examples of the benefits that companies have experienced from utilizing socialprise technology.

The piece, which was published by Sales 2.0 and CRM Today, can be found here and here. And for those of you who can’t bear to leave the InsideView blog, not to worry, we’ve copied the full text below.

The ROI from the Socialprise
By Umberto Milletti, CEO InsideView

The amount of rich, unstructured data living on social Web sites continues to expand everyday due to the popularity of the Facebooks and Twitters of the world. This has the potential to offer salespeople a more updated, personalized view of leads than standard CRM applications alone can grant. Salespeople can leverage the social Web to unearth rich insights that result in getting better leads, faster; but it’s not easy and depends on the salesperson to be his or her own filter for what information and what networks deliver the right information at the right time.

For businesses, the problem has been applying a salesperson’s intuition across a lot of data and “making sense” of the constantly changing, unstructured information living on social Web sites. But fresh strategies and tools are making it possible for companies to mash up data with business search and intelligence applications, allowing them to collect, scan and sort social data to their advantage. My company, InsideView, has coined this new development “Socialprise” – the mash-up of social tools with the enterprise. Socialprise applications are making it easier for companies to leverage the social Web to help grow their business and increase ROI from applications that exist only within the enterprise walls.

Be efficient with your time
A key element to a successful salesforce is their use of time: how much they spend researching potential clients and updating customer databases, as well as understanding when to contact a lead. It shouldn’t take a significant amount of time to identify the right contact within an organization or to prepare for a call – the window for making a successful sales call can be very short. While pre-call research is essential, it’s the actual conversation that brings in the business. By strategically making use of the abundance of constantly updated, personalized customer data across the social Web on sites like LinkedIn, Facebook, ZoomInfo, etc. – salespeople can improve their timing and time saved.

The data should come to you
CRM applications are filled with a wealth of sales management information, but that data is rarely utilized to stimulate more business. We’ve all seen the power of RSS feeds and systems, such as Google Alerts. Today, there are far more detailed, sophisticated systems that can be integrated with CRM applications and then deliver highly targeted, automated information alerts for salespeople. Imagine how many more leads you could generate if you received a notification every time a previous client took a new job or a company you’ve been chasing for months just announced record earnings. Getting that critical information to be sent directly to your salespeople as it’s announced guarantees they can make a sales call faster and with the most current information about their target.

ROI from the Socialprise
We have worked with a number of companies who have reported a significant ROI from integrating Socialprise technology with their CRM applications. Two of the key categories in which clients have benefited are productivity (time/cost savings) and close rate (opportunity quality.) Below are a few examples:

1) Productivity (Time / cost savings)

• Fortune 500 computer security provider saw a 33% decrease in named account research across a pilot group of 20 inside sales reps over 12 months.
• An online personal assistant company saw a 200% decrease in pre-call research time over 12 months.

2) Close rate (Opportunity quality)
• Closed More – Overall close rate increased 200%

• Sold Higher – Deals involving VP/SVP increased 80%
• Sold Faster – Average sales cycle decreased 10%

It’s time
Intelligently aggregating information about sales targets from the social Web should be a standard activity for all sales forces. There is just too much valuable data out there to ignore or stay wedded to an every man for himself approach. Companies that are merging relevant data from the social Web with their sales management systems and automatically receiving relevant updates about their sales targets have a significant competitive advantage over others. That advantage will only increase as these companies continue to mash up new Socialprise tools with existing CRM applications, while others around them are left waiting to get into the party.

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