Utilizing your social network to locate the right prospects, create trusting relationships, and accomplish your sales goals is what social selling is all about. The use of this sales method allows for greater lead generation and sales prospecting, eliminating the necessity for cold calling. Your customer's faith in your network makes building and sustaining relationships easier.
Reasons why social selling is important for your business
More and better-quality leads are generated
Leads and the quality of those leads rise in tandem with enhanced brand visibility. An advantage of employing an in-house team of social sellers is providing them with content to share with their networks.
LinkedIn users, in particular, are interested in this kind of information. In addition, people are more likely to believe the recommendations of their friends, coworkers, and family members than any other sort of advertising (ads, corporate handles).
Interacting to an audience in a sincere way
It's more authentic if you interact with your audience through social selling. Ninety-four percent of salespeople, according to LinkedIn, believe that social networks provide them with data such as trigger points and job changes to develop a natural connection. Online reviewers may provide a wealth of information to a health product manufacturer, who can then use that data to better their products and the health of their customers in general.
Increase the number of customers you can reach
Instead of going through a lengthy qualification process, social selling allows you to connect with prospects at critical stages in their buying cycle. It is possible, for example, to locate forums or organizations of people who are dealing with similar issues.
It can take weeks of cold contacting and lead qualification before you get a response from a decision-maker. With social selling, you can sell more quickly and reach more new leads than traditional sales tactics since you can connect with buyers who want to hear from you.
Retention of customers
Social selling is all about developing relationships, as we have already stated. Loyalty and repeat customers are the product of these relationships. According to research, sales professionals that rely on social sharing have a 55% customer retention rate.
Their accuracy in predicting sales is outstanding, coming in around 54%. Social selling experts are 79 percent more likely to meet their sales quotas than those who rely on traditional marketing and selling approaches.
Content sharing, direct communication, and an emphasis on addressing the unique challenges or worries that prospects have are all effective methods of retaining customers. These factors contribute to long-term customer retention, which is essential for a company's ability to grow sustainably. Predictability and the ability to formulate business strategies based on actual data result from increased client retention.
Social selling and its effects on sales
Social selling was a valuable tool for salespeople even before relying more heavily on the internet to market. According to LinkedIn polls, for the most successful salespeople, social networking sites like LinkedIn are critical to closing deals, and 70% of sales professionals actively use LinkedIn for business purposes.
Salespeople who invested in social media were 64 percent more likely to fulfill their team quota than those who didn't, compared to 49 percent of those who didn't. Leaders in social selling generate sales possibilities at a rate of 45 percent higher than their peers.
Social selling is proven to work, and you can expect to see a lot more of it in the upcoming years.
Personal Note:
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