The old saying goes “You Can’t Manage What You Can’t Measure.” Getting the KPIs (Key Performance Indicators) right is vital to the success of a most sales activities, but especially for LinkedIn. Without defining and communicating clear expectations of both the activity and results, you will simply get random acts of social. Before you begin establishing your team’s KPIs consider three things:
- What are the outcomes I want from the social selling efforts?
- Do I have access to data that supports those outcomes to measure success?
- Am I tracking, sharing and coaching to that data that can have a direct impact on the sales reps’ performance.
There are many KPIs in social selling that can be tracked and measured. Here are five specifically focused on LinkedIn, that if implemented correctly, will have an immediate impact on guiding your reps to focus on the right activities that converts to business:
- Growing Their LinkedIn Network with the Right Stakeholders – This KPI is very simple to measure but very powerful. This will give you insights into whether or not the activities your reps are doing target the right connections.
- In each Sales Rep’s LinkedIn account, Create an Advanced Search with all the criteria that match their ideal prospect and choose the 1st degree connections filter.
- Save the search in LinkedIn and copy the link to the search and save it somewhere you can find again.
- Record the number of connections as a baseline.
- On a set schedule (be it weekly or monthly), revisit the search and compare the number of connections with the baseline you originally recorded. Note the difference and determine how many new connections are the right stakeholders.
- Converting New Connections to Phone Calls and/or Appointment
- When a new connection takes a call or appointment that should be tracked in your CRM with LinkedIn as the lead source.
- Take a look at the ratio between new connections from their Saved Search and number of calls to determine if the right activities and/or messaging is happening.
- Getting Engagement on Shared Content that Converts to New Connections
- Sharing relevant content is a powerful way to get the attention of your target market, but it is important to identify if that information is effectively attracting and engaging your prospects.
- But even more than that, it is essential that you track how many of those folks your reps connecting with.
- Client Referrals to Appointments
- Mine your client connections, identify targeted prospects and ask for introductions through email.
- When introduction is made schedule phone calls or appointments.
- BONUS: Download 5 LinkedIn Templates
- Number of Introduction requests to a LinkedIn Connection that Convert to Phone Calls
- Similar to client connections, identify who you know who are connected to your prospects through company search, advanced search or simply visiting the connections section. Ask for introductions.
- When an introduction is made, schedule phone calls or appointments.
These are just five of the many KPIs sales leaders should measure. If you are interested in learning more about establishing these KPIs for your team, join us on Wednesday, June 15th at 1pm ET for our webinar: 5 LinkedIn KPIs Enterprise Sales Leaders Should Track.
Want to discuss your team’s goals specifically? Let’s set up a call. Whether or not we work decide to work together, I am confident our call will offer insights that will have a significant impact on your social selling initiatives. Here is a LINK to my calendar, please pick a time that works best for you.