Is your selling strategy social-centered?
By nature, we humans are social beings. It seems we are hardwired to seek the approval and advice from those who surround us, and this is no different to when it comes to our buying and selling behavior.
And in today’s digital world, we are more equipped than ever to capitalize on the help of others on our buyer journey. In fact, around 67 percent of the buyer journey is digital, with people using platforms such as search engines, blog posts, websites webinars, and social media to self-educate before shortlisting product choices.
Because of this, businesses must adapt their selling techniques to keep up with this evolving consumer behavior. According to Koka Sexton, the global industry principal of social selling at Hootsuite, the term social selling refers to “leveraging your personal brand to fill your pipeline with the right people, insights, and relationships”.
For brands wanting to stay relevant, it is vital they understand the value of social in leading the way in which buyers, especially millennials, are making purchasing decisions.
The facts are in the figures. Research has found that 78 percent of salespeople who embrace social selling are outselling their peers and have 45 percent more sales opportunities.
Social selling builds real relationships with customers
Social selling is about building relationships with customers. According to a blog by Hootsuite, social selling involves “strategically listening for the right moment to join the conversation” and presenting yourself as a solution to a current problem, rather than becoming just another annoying salesperson. This strategy is referred to as “social listening”.
Today, individuals openly share information on their public profiles concerning their needs and wants, as well as pain points. This abundance of information gives a salesperson the perfect opportunity to curate a first point of contact that is personalized and relevant, rather than intrusive and cold.
This more personalized approach to sales, leads to a more meaningful ongoing prospect and client engagement. Research from eMarketer revealed 31 percent of B2B professionals regard social selling as a way in which to build deeper relationships with clients.
By building a strong network through an array of social media channels, you can seek out potential sales prospects via existing mutual connections. In one particular study, 87 percent of B2B buyers reported having a favorable impression of someone introduced through their professional network.
Tim Hughes, co-founder, and CEO of Digital Leadership Associates, told Tech HQ “People will always turn to their family, friends and network – people they trust – to buy from first. Social media allows you to build such friendships, at scale and for free. Social selling is the only way to build deeper customer relationships.”
Clients and social buying
Just as salespeople are “social listening” in order to best discover their client’s needs, these clients are also using this same skill to discover potential vendors.
In fact, research by Gartner revealed that on average, customers are 57 percent of the way through the purchase process before even engaging with a sales professional. On top of this, research from the International Data Corporation found 75 percent of B2B buyers and 84 percent of executives utilize contacts and content from social networks to inform purchasing decisions.
With this in mind, it is fair to say that if your business is not engaging with social selling, you are not showing up as part of the clients’ social buying research. The result of this can be a whole lot of missed sales.
And with 71 percent of all sales professionals already using social selling tools, the likelihood is that your competitors are already one step ahead of you.
“Companies are starting to understand that social is the go-to channel if they want to stay relevant with buyers, especially with the younger demographics. This is because buyers are constantly using social to make their purchasing decisions. It is in the interest of companies to empower their salesperson to engage on social media,” said Sexton