Get over cold calling, sales scripts, and the same old advertising strategies for lead generation! Social selling could be the best thing for your business.
Social selling is a great way for brands to connect with potential customers and build trust, but it often gets overshadowed by flashier social media tactics. Don't get us wrong–social media marketing and advertising are great, but they're different beasts. A well-rounded business uses all three.
The truth is that just around 25% of companies have a clear social selling strategy in place. But by being in that 25%, you increase your revenue and deal outcomes by 48%.
In this blog, we’ll tell you everything you need to know about social selling. Read on.
What is Social Selling?
Social selling is the process of finding new leads for your business by building connections and engaging with prospects on various social media channels.
Social selling is different from all the in-your-face marketing tactics. It involves building meaningful relationships with the people who have shown interest in your business or product. It takes the inherent negative impression that traditional marketing gives off as when you put forward a sales pitch, prospects already have interest and are more receptive towards it.
In short, social selling is gently nudging your prospects towards your product or service by cultivating organic conversations.
Benefits of Social Selling
Social selling stands out among other marketing strategies for businesses because it leverages the power of social media. Marketing on social media, compared to traditional outbound marketing, has a massive 100% higher lead-to-close rate. Let’s look at the benefits social selling brings to your business:
Increases sales opportunities
As of 2024, over 5 billion people use at least one social media platform actively, and this number is expected to grow another billion by 2028. With more than half of the world’s population on social media, your business cannot afford to miss out on the exciting sales opportunities lurking around all over the corners of the internet.
And guess what, the average buyer is willing to spend 20 to 40 percent more on brands that have a social media presence and those they’ve personally interacted with. With social selling, you broaden your business’s reach and visibility and reach a bigger audience of potential leads awaiting conversion.
Builds trust and brand reputation
Social selling involves ditching the sales pitch and focusing on the value provided to the person on the other end. Plus, you naturally position yourself as a thought leader within your industry when you prioritize the value that the audience receives above everything else.
The results speak for themselves: Compared to those who don't, salespeople who use social selling have close 40 to 50% more business. A focus on value also builds trust and strengthens your brand's reputation. Your messaging resonates deeper with potential buyers, ultimately leading to higher conversion rates.
Attracts more qualified leads
Social selling attracts high-caliber leads that traditional methods simply can't reach. When you show up on their feeds with insightful and personalized content, they can’t help but be drawn to a conversation.
By combining engaging and value-driven content with the power of direct connection, you engage in conversations with decision-makers genuinely interested in your brand's solutions. It's a shift from targeting prospects based solely on demographics to attracting those drawn to your expertise.
Nurtures potential customers
Social selling nurtures prospects that have already entered your sales funnel. You subtly reinforce the value your product offers and its ability to solve their problems with content that tackles their interests and pain points.
Social selling avoids the pushy tactics of constant contact. It's a far more engaging way to nurture leads compared to repetitive email sequences that often lack genuine value. This seemingly minor change is often the tipping point between losing a potential customer and securing their business.
Social Selling Tips
Now that you know how social selling is beneficial for your brand, get a headstart with these valuable tips:
1. Choose the platforms to target early on
You cannot be everywhere at once. Gather data and identify the social platforms that house the most users who would be interested in your brand.
For instance, if your brand is targeting the younger demographic, Instagram is where you should be. But if you’re trying to engage with professional and business-oriented crowds, LinkedIn is the answer.
2. Have a content strategy in place
Coming up with topics on the fly and just ad-libbing whatever the masses are publishing don’t fare well in social selling. This is unfortunately the case for 63% of businesses on social media.
Prepare an outline for the content you plan to publish on social channels. You need to balance promotional content with a healthy dose of entertaining and informative posts. For a streamlined flow of content, use a content calendar.
3. Stick to the strategy
You cannot build fruitful relationships with your prospects overnight. One of the key elements of a successful social selling strategy is consistency.
Set weekly and monthly targets for publishing content and engaging with prospects. Be professional and don’t overwhelm potential leads with back-to-back interactions.
4. Use data to guide your actions
Tangible data and metrics bolster your social selling strategy. You need to collect and regularly dig into the data and direct your approach according to your findings.
KPIs to pay attention to include connection requests, profile visits, engagement and reach, and leads generated. Obviously, you’ll need definite goals so you have a benchmark to measure your efforts.
Social Selling Best Practices
A social selling program that brings in leads needs a well-thought-out plan, consistency, and collaborative efforts from different teams. Here are some best practices to follow:
1. Provide training on social selling
Equip your employees with the knowledge of social selling. Their training should cover the key platforms, personal branding strategies, ways to create engaging content, and cultivating meaningful interactions with prospects. The aim is to teach them how to interact with prospects naturally and helpfully, without coming off as pushy.
2. Grow a recognizable brand presence
Your social presence should make it clear who you are, what you do, and how you provide value. Optimize your social profiles according to the platform, and ensure all profiles are professional and complete. Have a recognizable logo and brand messaging that unites your brand and makes it stand apart among the crowd.
3. Use social listening
Actively monitor mentions and tags on social platforms to gain a deeper understanding of your prospects and customers. Utilize social media tools to track discussions surrounding relevant topics, brands, or keywords. Respond to mentions, comments, and direct messages swiftly–think minutes, not hours. Show your customers you're listening and engaged.
Start Growing Leads Organically With Social Selling
Social media is filled to the brim with opportunities for brands that are ready to dip their feet into social selling. Customers have the freedom to decide how and when to engage with businesses, and social selling enables you to meet potential customers where they are and at their convenience.
To capitalize on social selling opportunities, you need a tool like Highperformr. Highperformr helps you build a sales pipeline through a social presence. Highperformr’s Social AI gains context about your prospective customers and their requirements and helps you strike impactful conversations with them.
