Social selling, by now you’ve certainly heard of it, but you may not be entirely sure what it means.
Is it the same as social media marketing? (No.) What about social media advertising? (Nope, that’s something else altogether.) So just what is social selling and how can it help you Maximise Revenue?.
Social selling is the process of developing relationships through social media to build relationships as part of the sales process. For most businesses this is primarily done using professional social networks such as LinkedIn to find, connect with, understand and nurture sales prospects. Click to read Fullscope’s Guide to Social Selling - How to Use Social Selling to Build Relationships and Increase Revenue
The key benefits of social selling?
- Increased lead generation
The old practices of cold calling when you would pick up the phone, possibly annoy the prospect by interrupting their daily lives with cold calls and hard sales is being replaced by social selling. Today’s modern buyer is changing and starting to rely on social media for input and information on products and services and is the way to increase volume and quality of leads.
- Increased brand recognition
Your buyers are on professional networks frequently, many daily using them in various ways, this is your golden opportunity to talk to and network with your prospects and build brand recognition for yourself and your brand/product.
- Competitor differentiation
Social selling is an investment in time as sales professionals get to know their buyers, it’s about building relationships and not transactional selling, this will be a differentiator for you as a sales professional and your business.
- Increased personal recognition
If you are selling a high value product and or service, it makes sense for you to invest time in getting to know your buyers. Be recognized as thoughtful and knowledgeable to buyers.
To increase revenue from social selling, sales professionals needs to understand, use and generate leads from these sites. Did you know that according to a survey from HubSpot, 40% of salespeople close two to five deals per year as a result of social selling? Or that companies that invest in social selling have seen their revenue growth double?
The way to maximise revenues is with social relationship selling