This may be an impression, but the term social selling is not widely known in the digital world. Are you interested to learn about social learning? Obviously, If you are into E-commerce your answer should be Yes. Because, it is certain that this will really help you. Social selling is one of the major tactics of increasing your sales by building a relationship on social media.
Why social selling?
Rather than giving a definition, I want to clarify the context that explains the need for a social selling approach.
Some statistics to consider, selected by LinkedIn:
There are more than 8 decision makers involved for an average contract, 43% more in 3 years between the year 2013 and 2016.
3.1 to 4.6 additional departments – such as finance, IT or HR – influence decisions
70% or more of the customer journey is completed before a prospect contacts a salesperson
53% of shoppers say they spend more time in 2016 on social media to get information on sellers vs 2014
The conclusion to be drawn from these figures is that buyer behavior is changing. On the one hand, decisions are often more and more complex. Several new players come to influence the sales process. On the other hand, the buyer is more comfortable using the web to find information and answers to his questions. In some cases, this creates a significant gap with the sales professionals.
Social selling somehow allows bridging this gap by taking into account these changes and adapting to them. It involves the proper use of social media – Twitter, LinkedIn, Facebook and Company – to support potential customers in their purchase process.
The 4 Cornerstone of social selling on LinkedIn
LinkedIn has created an indicator to measure your activity: the social selling index (SSI). I already talked about it in this article, so I’ll just go over the basics.
The SSI is composed of 4 components whose values range from 0 to 25:
Build your professional brand
Find the right people
Use the information to get in touch
Build (and maintain) relationships
A total is a number that varies between 10 and 90 for the majority of people.
Did you want to know your Social Selling Index? Click here.
More information on the SSI for salespeople.
The First observations:
Only 1.4% of sales professionals have an SSI of more than 70.
1 out of 2 dealers has an SSI between 21 and 69.
To be considered:
Those who work in an SME have a larger SSI (31) than those in large firms (27).
If analyzed by continent, North America (30.05) and Oceania (30.03) outperform Europe (27.9), Asia (24.1) and South America ( 21.2).
Also, based on LinkedIn data, top sellers outperform others in all SSI components:
1,2x for the professional brand
1,2x to find the right people
1.7x to use the information
1.5x to build relationships
Still, according to LinkedIn, profile views and contacts in targeted accounts predict success:
best closing sales rate
the largest amount of transactions
Why are not more salespeople using social selling? Probably because they have not yet understood and the examples that they themselves live as targets leave something to be desired. Some people want to automate and speed up the sale … whereas we have to humanize and slow down.
What does it mean to understand all that?
The first thing I understand is that there are still a lot of opportunities in most industries. If you are one of the first, you are more likely to be recognized quickly and stand out.
It must also be understood that this is a step that takes place over time. The goal is not to make a sale in the first days, but to build a network of prospects that you can support. You are not creating the opportunity, but you will be there when it comes.
To get started on LinkedIn, your action plan can consist of:
Have a customer-centric profile that allows people to understand how you can help them.
Build a network of interesting prospects for the next few years.
Maintain the relationship with prospects by following a well-established process. (sequence and pace)
Interact according to social signals
Publish content to demonstrate your expertise and especially to help your prospects.
In conclusion, social selling on LinkedIn is what you can start today. Not only that, On Facebook, Twitter, and Instagram you can start building a relationship with more people at your reach. There is a high tendency to increase your sales.