Colleen McKenna, Principal at Intero Advisory joins us in this National Advisor Showcase segment where she imparts valuable LinkedIn wisdom.
Please excuse any typos in this hasty transcript.
Matt Register: Welcome back to the show, Texas Business Radio, texasbusinessradio.com is the website if you want to see the whole thing in beautiful high definition video. If you want to contact us there’s a couple ways to do that 844-814-8144 is our 24-hour answering line, it’s probably the easiest way to do, just go ahead and get your calls in anytime of day. We’re going to get the experts in here to get those questions answered. I’m your host Matt Register. Jay Curry’s the guy sitting over there in the co-host chair. We’re at the point in the show we’re going to bring you a national advisor showcase. These are guys that come into Texas, talk to CEOs, they have a wealth of information to share with you on how to grow your business, how to expand your business, how to make it better, and we love having them on here and we have a repeat customer this time, Colleen McKenna is the LinkedIn guru behind Intero Advisory out of Baltimore, Maryland is in town imparting some of her LinkedIn wisdom to some CEO’s here and we wanted the opportunity to pick her brain a little bit.
Colleen, welcome back to the show.
Colleen Mckenna: It’s great to be here, wouldn’t be a trip to Houston without coming by and having a conversation with you guys.
Matt Register: Well we’re certainly glad you did because I’ll tell you what guys, LinkedIn is one thing that has never existed before in the history of the world. It is a self-correcting business database that if you learn how to mine that database for information it has a wealth of information that can help you in your sales, in your lead gen and that’s exactly what we’re gonna talk about. What do you think about this Jay?
Jay Curry: This is one case where I can speak with some certainty because since we met Colleen over a year ago and she came and spoke to the symposium for innovative growth one of my coaching clients started using her and lead generation is huge, this tool is just huge and you hit it right on the head, it’s a self perfecting database and the potential on this, folks if you’re not using this, you’re missing the boat and I think that’s what we’re gonna hear. We’re gonna talk about using it as lead generation, it’s powerful.
Matt Register: SO Colleen, knowing that the problem that a lot of business owners are trying to solve is how do they fill up the top of that sales funnel? How are people screwing this up?
Colleen Mckenna: They don’t have a process, they don’t put a plan together, they have no accountability and so they fall off the wagon real quick. And I think it’s so much about understanding who you wanna find, cause they’re there on LinkedIn so we do these straight up searches, right? It’s not rocket science, at that point. But then we have a plan, we use the right tools on LinkedIn and it’s really not LinkedIn.com we’re using. We’re using LinkedIn sales navigator.
Matt Register: We’re gonna back up for just a second, because LinkedIn is something we all know, right, that’s where you go put in your profile and everything else. That same database, Microsoft has bought LinkedIn.
Colleen Mckenna: Correct.
Matt Register: Microsoft knows how to make money and Microsoft has developed some tools that allow other uses of that information besides just purely LinkedIn, one of then is called Sales Navigator, that is a paid portion of LinkedIn. We’re really not talking about that much money when we’re talking about a sales funnel like we are. Correct?
Colleen Mckenna: Correct, so LinkedIn sales navigator came out probably two, three years ago, and it was not premium, so premium was premium, and then there was sales navigator. Sales navigator is a different view into LinkedIn. In the last year LinkedIn has removed some of the features from premium because they really want people to migrate to sales navigator. So the difference in cost between premium and Sales Navigator is pretty negligible but the value is so much greater in Sales Navigator product. So we don’t have any clients who are not using Sales Navigator.
Matt Register: So now you are a business trying to fill up your sales funnel, it’s very hard to get sales out of the bottom of your funnel if you’re not filling up the top of your funnel, right, so this is what we’re talking about here. They get Sales Navigator, now what you guys bring to the party is teaching them how to use Sales Navigator to benefit their business and it starts with a well thought out plan. How detailed do you guys end up getting? How many people come to you with a plan, how many people come to you needing a plan?
Colleen Mckenna: Pretty much everybody needs a plan because they haven’t been successful. They started, they do a little bit, they forget to do it two days, then they forget to do it a week and then they’ve forgot what they were doing to begin with. So it’s really about being very conscientious and having not only a plan but that plan has to have some metrics. What are we trying to achieve? And how are we gonna measure it? So we look at things like connection acceptance rates. And how many people have expressed interest and how many people are moving through the funnel to get them to the bottom of the funnel.
But we can generate a lot of top of the funnel pretty quickly and we get as specific as what you’re gonna say. So we even work with clients on the messaging because we know certain kinds of messages get much better results than others.
Matt Register: Well and sometimes you have to AB test it, right, there’s a little bit of trial and error involved in this as well.
Colleen Mckenna: And we can see it all in real time, right, so if we know what our averages are, for a particular client or for a particular industry then we can say, “You’re kind of falling below the average here, let’s do some tweaking on your content and your messaging scripts.” And then the follow up messages and the series, remember it’s eight to 12 touches in any sales situation. And that is not different if it is a digital sales situation, right, through LinkedIn.
Matt Register: It certainly makes the touches easier to achieve and cheaper to achieve right?
Colleen Mckenna: Absolutely and we try to be creative and we take some content that that person might be creating or curating and we weave that in and we use all of our clients who are really pretty particular these days about having a calendar scheduling software tool that they’re using.
Matt Register: Okay, all tell you what, I’m gonna go ahead and call an audible, we were gonna do one segment on this, we’re gonna go ahead and do two. Cause this is important stuff and I wanna dig into this a little bit deeper. Talk to me about, I’m a brand new client that comes to you saying, “I need help filling up my funnel.” Walk me through the process of this. There’s one coming up with a plan , what are some of the components of a typical plan you would do for a business?
Colleen Mckenna: First we look at person’s LinkedIn profile, we need to make sure that profile is updated and it is a marketing oriented, client oriented profile.
Matt Register: Because that profile’s going to be found, it needs to be shined up and make sure that it looks presentable whenever people do find it, right?
Colleen Mckenna: Right. And we don’t want it to look like an online resume. We’re looking at their first level connections and who are they connected to? Who should they be talking to? Who should they be reaching back out to? Who are their centers of influence? My favorite group of people on LinkedIn, centers of influence, the people you know like and trust, they know like and trust you, they’ll help create introductions for you.
Matt Register: You know, interestingly enough I have found myself looking … you know if you have a meeting scheduled you look them up on LinkedIn and if you have an empty profile, you have something that, boy their credibility takes a hit before you even walk into the meeting. I mean this is, you have helped me with my profile, this is something that we’ve done ourself. And this is something you gotta do, if you’re listening to this and your profile is poor, you are not doing yourself a good service by doing that.
Colleen Mckenna: Right, imagine taking a business card which we all hand out so proudly, right, imagine ripping it up and giving people one piece of a business card. Nobody would ever do that. That’s like a bad LinkedIn profile, it’s like giving somebody a piece of a business card. Right? So once we look at that we look at their first level network, then we start to say, “Okay let’s set you up in Sales Navigator to find your ideal client.” We can get really granular in Sales Navigator, we can get down to within ten miles of a zip code, we can go global, head count for companies so we can really find the right target.
Matt Register: Well here’s the good news, LinkedIn knows a lot of about their user, they know a tremendous amount about their user, about the company that the user works in so you can get incredibly detailed on what you’re searching for.
Colleen Mckenna: Right, we can do it by industry, how many years of experience that CEO’s had, how long they’ve been in that company, we get all those results, we start to look at those people. Now in Sales Navigator we can save those people as leads, right, we can save companies as accounts. In a lot of B2B buying situations there’s 5.4 people involved in a buying decision. So suddenly now LinkedIn Sales Navigator says, “Okay, you’re the CEO, here’s the COO, here’s the CMO, right?” And we can start to build up buying communities.
Matt Register: And you can start identifying what the structure of the target company might be and what their decision making process might be. There’s a tremendous amount of information in there.
Colleen Mckenna: Yep, absolutely.
Jay Curry: So this can be very very big and when we get on the other side of our break I’m gonna give a story that I think emphasizes the power that you can bring and have brought to this particular client. It’s amazing and people need to stick around and hear the second segment.
Matt Register: That’s right, we’re talking to Colleen Mckenna, Intero Advisor out of Baltimore, Internadvisory.com, we’re gonna have that link from Texasbusinessradio.com. We’re gonna continue the conversation right on the other side of the break. This is important stuff guys, you wanna make sales this is one technique for how to do it, we’ll be back right on the other side of the break.
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In addition to hosting "Texas Business Radio," Matt is an investment banker and serial entrepreneur from Montgomery, Texas. He is the owner of RREA Media and Register Real Estate Advisors and a Managing Director and Principal at Corporate Finance Associates. He has a BS from the United States Military Academy at West Point and an MBA from Rice University in Houston. You can read more about Matt HERE.