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Social Selling

Social Selling

Selling through social channels is the closest thing to being a fly on the wall in your customer’s world.

  Companies with formalized social selling processes are 40% more likely to hit revenue goals.

What is Social Selling

To make it simpler, let’s start with what it is not. It is not the same as social media marketing and it is not the same as social media advertising. It is the art of using social media to identify, connect with, understand and nurture prospective customers. Businesses use social selling to build meaningful relationships with potential customers, and listen for the right moment to join the conversation so that either you are the first person or brand that they think of when they are ready to buy or you present yourself at the right time as a solution to their problem. Your salespeople need no longer cold call when they can laser-target their prospects. Industry experts believe that social selling is critical to sales success and you are already losing business if you have not incorporated it into your funnel.

Why should my business care about social selling?

The main reason that you should care about social selling is –  it works!

78% of salespeople engaged in social selling are outperforming their peers who are not. One of the reasons that it works so well is because social selling lets your team build real relationships.

Nobody likes cold calling, but if you use social tools to listen in on conversations relevant to your product or service, it will allow your sales team to identify new leads that are already interested in your products, your competitors, or your industry. With this information, you can reach out to them when the time is right. These tools increase your number of leads and reduce the time spent researching accounts and contacts.

Social Selling Stats

For every $1 invested in social selling, the ROI is $5.

Quota attainment, renewal rate and forecast accuracy are all better when sales reps use social selling tools.

71% of all sales professionals and 90% of top salespeople are already using social selling tools.

Networks for Social selling

Each social network has its own advantages. Focus on those platforms where your customers are.

If you are a B2B company, go to LinkedIn, especially because it is the source for 80% of B2B social leads. Twitter is also popular for social selling. Identify prospects and leads based on their bio information which will include company roles, location, and personal details. You can then determine who to reach out to and how to approach them. Facebook and Instagram are better suited for connecting with current customers or those on the cusp of becoming customers due to Facebook’s algorithm changes and Instagram’s limited search functions. However, Facebook communities and groups are a great place to find customers. Youtube is also a great platform to mine for potential customers. Directly responding to comments on Quora can help nurture leads and prospects. There is no perfect network for social selling, rather a combination based on your target audience.

SOCIAL SELLING

The world’s leading sales experts say:

The two biggest wins in social selling this year ($70 million and $47 million) came directly from LinkedIn groups. Think about it. Where else can you find your customers, prospects, partners, suppliers, competitors, and thought leaders talking about key topics and trends in your industry? If you’re not using LinkedIn groups, you’re missing out.

—Jeff Simmons

“Sellers who’ve embraced social media are creating new opportunities that totally bypass traditional sales channels…. It’s about good selling—using all the tools that are available to you today.”

—Jill Konrath

“Sellers who’ve embraced social media are creating new opportunities that totally bypass traditional sales channels…. It’s about good selling—using all the tools that are available to you today.”

—Jill Konrath

Smart sellers understand that social channels are ideal outlets for building credibility in their industries. They can share articles relevant to their solution, join special interest groups, and attract followers and connections through that process. In the old days, sellers would bring their Rolodex from company to company—now they bring their LinkedIn network.

—Rob Bois

FAQs on Search Engine Optimization

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How is social selling different from traditional selling?
Traditional selling focuses on closing, social selling focuses on connecting. Social selling helps you to build a warm relationship before getting on the phone or setting a meeting. Also on social, you can connect with many leads at the same time efficiently.
What are the biggest barriers to Social Selling?

The biggest hurdle is starting off and getting used to the interactions. It's a little scary at first because everything is public. Don't wait until you have crafted the perfect message. After the first few conversations, you will be a pro.

How do I get started?

Start by identifying and engaging 10 people who would be good customers. Participate in group discussions or blog threads. Use tools to make the process easier.

How do I prepare for social selling?
Before you reach out to prospects, make sure you have a credible and knowledgeable profile. Make the right connections and join the right groups, follow influential people in your field and find out what relevant hashtags are being used in your industry.
How do I approach someone?
Begin by responding to a question they had in a comment, or reach out and ask them questions about the problems that they are interested in solving.
What is Social listening?
It is the process of monitoring social media channels for mentions of your brand, competitors, and products in order to track, analyze and respond to them.
 
How do I engage with prospects?
Share content that resonates with your prospects. Be helpful and provide valuable advice and information. Send a personalized message to show that you are concerned about them.

Social Selling

A quick guide to social listening

Cut through the clutter

In order to be successful at social selling, you must develop a targeted social listening strategy. This will help with increasing sales, refining products and shape your messages more succinctly. Use social listening metrics to empower your social selling strategy.

Volume of Conversation

The volume of conversation measures how many people are talking about your brand or how many times your product is mentioned in the social media sphere. Volume is key to understanding the impact you are making on social media and should increase when you are running campaigns.

 

Rate of engagement

Your rate of engagement will measure the number of replies, mentions, retweets, and shares that your business receives on social media platforms. It is important to keep track of this metric because it will allow you to determine if your post is going viral. It will also reflect if your messaging and brand is relatable. If you see a sudden and dramatic spike in numbers look out for potential social media crises.

Share of Voice

Share of voice reflects your piece of the pie and is a measure of the market your brand owns in comparison to your competitors, of industry-related social media messages. It allows you to gauge your brand’s visibility and how prominent your brand awareness campaigns may seem to potential customers. It will also inform you about how much you dominate the conversation in your industry.

 

Sentiment Analysis

This metric determines how people are talking about your product, service or brand. Whether it is in a positive, negative or neutral way. To find out algorithms apply natural language processing (NLP) to social mentions from various social media posts. Even if your rate of engagement, the volume of conversation and share of voice are very high, it will all mean nothing if the conversations about your brand are all negative. So make sure that it doesn’t!

 

Competitor Metrics

It’s important to gauge the ways in which your competitors are performing better than you. You can judge your own success by comparing your brand’s social media presence with that of its competitors. Check the important metrics, the share of voice, engagement, frequency of messages and brand mentions or chatter. This will inform you how to adjust your own messaging and techniques to your targeted audience.

The ngX Framework

Based on our deep design and technical experience across industries we’ve developed a proprietary digital framework, the ngX framework, which is leveraged across all our projects.

The ngX framework consists of the following steps:

Assess

Assess your current customer experience and digital posture across all digital properties

Define

Define a digital experience transformation roadmap to capture digital moments

Develop

Develop the front-end and back-end systems and technologies to bring the digital next strategy to life

Deploy

Deploy all the technologies and design elements together after thorough QA and user testing

Support

Support the deployed components to ensure digital experience ecosystem meets its stated business objectives

Market

Digital marketing to promote the reimagined brand, acquire new customers and retain existing customers for continued business impact

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