Wednesday, October 8, 2008

Aberdeen on Sales 2.0

Aberdeen Group just released a Sales 2.0 report: Social Media for Knowledge Management and Sales Collaboration.

The crux of the study is examining how companies are and have the potential to shorten sales cycles and increase productivity by utilizing Web 2.0 tools.

The timing for data like this is impeccable. The US economy is going through tough times, and companies need to proactively sell more to survive and compete in these trying times. Cost-effective tools and technological advancements become that much more valuable during difficult economic periods.

According to the report, 45% of 210 companies surveyed that use social media within both the sales and marketing departments experience year-over-year improvement in lead qualification rates.

“The pressure to increase top-line revenue growth (63%) and improve overall sales productivity (60%) were identified by survey respondents as the top two pressures causing organizations to focus resources on the organizational capabilities and technology enablers use to improve sales performance,” it says in the executive summary.

It’s a good sign for enterprise wikis. Wikis are a cost-effective technology solution to collaboration and knowledge management challenges.

“As sales managers search for effective ways to manage their teams outside the traditional avenues of meetings and emails, wikis allow for project and team collaboration around a certain account or opportunity.”

There are a lot of interesting numbers and concepts expressed in this Aberdeen report that I plan to revisit. For example, Aberdeen’s report stresses how crucial it to the success of an enterprise social media / Sales 2.0 initiative to have the support of senior management. Download the report today.

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