Sales Navigator Users Net 11x More Revenue Growth
April 9, 2015
As the number of B2B buyers willing to respond to cold outreach dwindles and most conduct their business online, today’s top sales professionals are shifting their sales doctrine by embracing social selling through LinkedIn. To meet buyers’ demands, the savviest sales pros are supercharging their social selling strategies with LinkedIn Sales Navigator. And according to the newest joint LinkedIn - C9 Inc. study, they’re seeing 11x more revenue growth than those who only use LinkedIn.com. Previous LinkedIn¹ and third-party² surveys reported that top social sellers achieve or exceed quota more often by leveraging their existing connections and those of their colleagues. Fresh analysis of CRM data collected by LinkedIn and C9 Inc. now proves it.
Social Selling via Sales Navigator Boosts Pipeline and Revenue
LinkedIn and C9 Inc. data analysts joined forces and combined two years of sales performance and selling behavior data from more than 9,000 sales pros in 36 companies for the most rigorous statistical analysis to date of social selling with Sales Navigator and its impact on sales performance.
While social selling by itself is positively associated with sales performance (both pipeline size and revenue growth), the study found that Sales Navigator users achieve 7x more pipeline growth and 11x more revenue growth than if they used LinkedIn.com only.
An average Sales Navigator user increases their SSI (social selling index) by 3% a month, so will usually see a 20% SSI increase in approximately half a year. In essence, within 6 months of adopting social selling best practices, Sales Navigator users (who increased their SSI say from 40 to 48) grew their pipeline by 6.8% and boosted revenue by 20.4%, far outpacing non-Sales Navigator sellers with the same social selling behavior, who only increased pipeline by 0.99% and revenue by 1.73%.
First launched as an additional set of sales-centric features on the main LinkedIn website in 2012 and re-introduced as a stand-alone product in 2014, Sales Navigator has streamlined the social selling process to help sales pros go social more quickly and efficiently. Even more crucially, it unlocks access to LinkedIn’s entire 347 million-member network, and opens up even more sales opportunities when deployed on a team level through TeamLink.
Sales Navigator accelerates connections between sellers and buyers by providing a toolkit of social sales essentials designed to spotlight the best prospects, monitor key accounts and facilitate solid, trust-based relationships. Among other features, Sales Navigator recommends and enables saved leads that salespeople should be connecting with based on their history and interests, lets sales pros track updates and news involving their most important accounts, and points out colleagues and other common connections who can provide a warm introduction to prospects.
As more and more B2B selling goes social, the most successful sales professionals have evolved their sales strategy by leveraging the myriad opportunities available to them via LinkedIn. Social selling has unlocked a world of possibilities to sales teams facing B2B buyers who are closing the door on cold calls and relying on social media to steer their buying decisions. While social selling has become indispensable on its own, the latest numbers prove what Sales Navigator subscribers already know—the product’s return on investment is undeniable. Sales Navigator has made it easier than ever to crush sales goals and close more business, and sales professionals who use it reap greater rewards than those who don’t.
1. LinkedIn Global Survey of 5,000 Sales Professionals, October 2013. Sales reps that exceeded quota were those that BOTH exceeded their number in Q3 and felt their quarter was “Extremely Successful” and “Very Successful” quarter. SSI leaders have a SSI greater than 70 while SSI laggards have a SSI lower than 30.
2. Keenan, Jim and Barbara Giamanco. “Social Media and Sales Quota” Social Centered Selling site. 2014 http://barbgiamanco.podbean.com/e/the-roi-of-social-selling/