Case Study PTC
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PTC needed a way to reach buyers earlier in their decision making process as many decisions were being made online without sales reps. They implemented LinkedIn Sales Navigator to allow sales reps to research accounts, build relationships through content and insights, and influence buyers before key decisions were made. After deploying licenses across global sales, PTC saw major gains including over $4.5 million in closed deals, $44 million more in open pipeline, and reaching over 2,000 prospects.
Case Study PTC
- 1. Sales Solutions What was the sales challenge? “Thanks to the internet, buyers don’t need sales reps at all until they are ready to contract – and that’s very dangerous,” says Mark Tefakis, VP Global Sales Enablement and Programs. “A lot of buying decisions are made far out in the process when buyers are self-sourcing the information they need to decide how they are going to solve a problem. We needed to get to them in advance of the key decisions already being made; a way to influence them before they are ready to pick up the phone.” As Sales Enablement Director EMEA Julian Lee explains, many of PTC’s sales reps were already making use of personal LinkedIn accounts on an ad-hoc basis, but the business needed a platform that could establish social selling standards across markets. “Within sales enablement, we’re always looking for technologies that can drive effectiveness and efficiency in the field,” he says. “We needed a best-in-class platform to support the sales force in penetrating accounts, finding the right buyers and building relationships through content and insights. Rolling out Sales Navigator was the natural starting point for our social selling initiative.” About PTC PTC helps more than 28,000 customers worldwide achieve sustained product and service advantage. PTC’s technology solutions transform the way products are created, operated and serviced across the entire product lifecycle - from conception and design to sourcing and service. Founded in 1985, it employs over 6,000 professionals serving businesses in rapidly evolving, globally distributed manufacturing industries worldwide. Who are the target audience? PTC sales teams must reach and influence a range of target audiences: strategic sales reps need access to new decision-makers that control cross-selling opportunities. Hunter reps for the emerging sector known as the “Internet of Things” (enabling smart, connected devices to share data securely) must reach, nurture and convert leads amongst businesses that may have no prior dealings with PTC. PTC Case Study Mark Tefakis VP Global Sales Enablement & Programs, PTC
- 2. Copyright © 2015 LinkedIn Corporation. LinkedIn, the LinkedIn logo, and InMail, are registered trademarks of LinkedIn Corporation in the United States and/or other countries. All other brands and names are the property of their respective owners. All rights reserved. Check out lnkd.in/sales-navigator to learn more about Sales Navigator What about the results? Mark, Julian and the sales enablement team deployed 501 licenses across PTC’s global sales operations, using a regional sales enablement structure to support reps in getting the most from Sales Navigator. They enlisted high-profile sales executives such as regional VPs to help champion social selling and leverage their own LinkedIn network to facilitate warm introductions to new and existing customers. PTC distributed content on internal platforms for sales reps to share, and used LinkedIn’s Social Selling Index (SSI) to highlight best practice, share success stories and tailor training to the point that different regions and reps had reached in the journey. “On a day-to-day basis, we’re using social selling and Sales Navigator to get our marketing messages out there and build relationships,” says Julian Lee. “We’re getting valuable company and contact intelligence: who the right contacts are, and who they’re connecting with. And we’re able to engage people through InMail leveraging the insights we have to share.” In their own words: The key features of LinkedIn Sales Navigator for PTC: “Sales Navigator enables me to do a lot more account research in a lot less time and build rapport with prospects faster and more naturally.” Joey Rodems IoT Business Development Manager Mapping new opportunities “The ‘saved leads’ list is my constant go-to for prospecting. It makes it easy to stay on top of what’s happening with my most important leads.” Deb Williams Strategic Account Executive Prospecting existing accounts “Identifying the key champions on a new project enabled us to stave off a threat and land a big transaction. I believe LinkedIn is the most beneficial tool that we have rolled out to sales in years.” Scott McCarthy Regional Sales Director Securing strategic accounts “It’s all about sharing those insights and proving we have domain knowledge and thought leadership in key areas. We’ve established great support channels to share content and build professional brands for our reps.” Julian Lee, Sales Enablement Director EMEA Leveraging insights for influence “LinkedIn is my sniper: it’s about quality of leads as much as quantity, and gives me a shortlist of very qualified C-level leads to target for my calls.” Giancarlo Rocco Area Manager Zeroing in on C-level leads After just one year, this approach had already resulted in major gains: More than $4.5 millionin closed deals influenced or supported by LinkedIn $44 millionof additional, LinkedIn-supported deals in open pipeline Over 2,000prospects reached and more than 260 meetings booked through Sales Navigator ROI to date of 20X Net Promoter Score of 48for LinkedIn Sales Navigator amongst the PTC sales team, with over90% recommending continued Sales Navigator investment