July 2, 2013
It pays to be well-connected – at times, quite literally. Being in sales is competitive, and it takes some good strategizing to be successful at it. I mean…not that I would know personally, since once I tried to sell Do-Si-Dos to a cousin in the Girl Scouts, but many of my friends have shared the frustrations associated with cold calling (and the related dejection resulting from a terrible sales day). If you’re lucky, then you’re probably using IntroHive in your sales job to help you analyze your company’s connections and maximize your sales efficiency.
IntroHive is a software platform that helps companies uncover relationship capital that a company’s employees have stored in social media, email, calendars, contacts, and CRM platforms. For Jody Glidden, founder and CEO of IntroHive, “there was no measurement to relationships in an enterprise…and [he] saw an opportunity in measuring the relationships that people had with people.”
According to a 2012 Gartner study, sales professionals with (direct or indirect) personal connection to someone are more than five times more likely to receive a return call than with a mere cold call. Based on this, here are four reasons why IntroHive should be used in your sales division:
1. Improved conversion for RFPs and inbound leads. RFPs and inbound leads can be prioritized by the strength of any one employee’s relationship capital (how well that employee knows that particular account + how important that account is), and guides sales reps on which ones they should answer and which ones aren’t worth the resources. In referring to this relationship capital, Glidden remarks, “[IntroHive] doesn’t think that friends in common is a definitive factor in how well you know a person” – the platform analyzes interactions on top of mere connections.
2. Expanded and more refined markets. Rather than focusing on sales territories determined by nearby zipcodes or locations (essentially, anyone you can merely contact), IntroHive opens a pathway for you to contact accounts that you can actually reach (i.e., speak to).
3. Increased productivity and faster closing times. IntroHive helps salespeople and sales leaders make the most of their time. Because relationships are scored and ranked, the sales team is equipped with the intelligence regarding which people or accounts (prospects) to actually approach and to whom they should be assigned. This decreased time on prospecting allows for more time spent on helping target accounts on considerations and decisions.
4. Better hires. Glidden suggests that a company needs to be choosy in its hiring – recruiting only the most talented – in order for a company to truly make an impact. He’s adopted this strategy for IntroHive itself. However, he also thinks that IntroHive can be used to measure the relationships that potential reps have, and use that as a factor in whether or not to hire them.
Did you like this article?
Get more delivered to your inbox just like it!