In this blog, we’ve already discussed what social selling is and how to get a program off the ground.
In fact, we even have an Ultimate Guide about it. At its essence, it’s when a salesperson uses social media as a tool to build relationships, create leads, and ultimately make sales, building their reputation all the while as a thought leader in the field. It’s an upgrade to the old “cold call” technique, one that’s more effective and in all honesty, more engaging and fun.
There are still people who sometimes wonder, however, how effective social selling can actually be. Especially those who still aren’t totally comfortable with social media, and have doubts about new digital selling techniques. Which is why we’ve prepared a few social selling stats that demonstrate the potential of a properly executed social selling program. And the numbers don’t lie.
1. Leads developed through employee social marketing convert 7x more frequently.
It’s a fact. When it comes to conversion, strong connections through social media drastically increase the odds of making a sale. Social media simply helps build a relationship of credibility and trust, and those both are at the essence of any sales pitch. If conversion is the end goal, social selling can help you reach it.
2. 78% of reps who use social selling practices outsell their peers.
Let’s face it, sales is a competitive field, and it’s better to be at the head of the pack than lagging behind. Social selling can give sales professionals that edge, to stay at the top of their field and outperform the competition. It is, quite simply, the advantage you need.
3. 84% of B2B executives use social media to research purchase decisions.
Executives are going to be using social media to learn more about services and products before making their decisions. By creating content and honing an online presence, a seller can ensure that those same decision-makers will find their content and profiles through their network of connections, or simply an online search. It’s about casting a wide net.
4. 92% of B2B buyers use social media to engage with sales industry thought leaders.
When executives are seeking out advice, they’ll look toward those who know what they’re talking about—the leaders in their field. Social selling gives sellers the chance to create that reputation, and become a thought leader by posting, creating, and commenting on useful content.
5. Content shared by employees receives 8x more engagement than content shared by brand channels.
When it comes to disseminating information, social media is extremely powerful. And it’s most effective when information is being shared by people within a network—it’s really a question of authenticity and trust. For this reason, employees can generate far more engagement than brands alone. Employees are real human beings, whereas brands are seen as corporate entities.
6. Companies with consistent social selling in place are 40% more likely to hit revenue goals.
When it comes down to it, none of this matters if companies aren’t hitting their goals. That’s the ultimate purpose of any sales program. But social selling can be a huge factor in determining success. And it’s a fact that companies that use social selling as part of their digital sales toolkit are significantly more likely to hit the numbers they’re hoping for.
7. 90% of top-performing sales professionals use social selling.
When looking for tips and techniques, it only makes sense to look to the best. And the best-performing sales professionals are already using social media to build leads and close deals. It’s not the only tool at their disposal, but it is a crucial one, and they know how to get the most out of it.
8. Over 76% of buyers feel ready to have a social media conversation.
There is a common idea that social media users are uncomfortable engaging in sales conversations. And while it is true that an intrusive or unwelcome approach can yield negative results, an authentic and helpful strategy is usually welcomed with open arms. If sellers genuinely try to be helpful, then the results are usually good.
9. Social sellers are 51% more likely to hit their quota than sellers who don’t use social media.
At the end of the day, sellers want to do better. They want to hit all their quotas, and even exceed them when possible. And social selling makes that more likely. It’s not only in the company’s best interest, but in the interest of the sales professionals themselves. It can be a huge boost to a promising career, and help turn a lagging salesperson into a true leader.
10. More than half of all revenue in 14 industries was influenced by social selling.
Yes, this includes telecommunications, computer software, marketing and advertising, information services, and financial services, to name a few. Major industries are already using social selling—it’s not some idea for the future, but a real, concrete strategy that’s already changing businesses around the world.
Conclusion: Social Selling Simply Works.
Social selling takes time to develop, just as online relationships and reputations take time to develop. But it works—these social selling stats prove it—and with the proper motivation and guidance, the results will speak for themselves. A successful social selling program is one element of a multi-faceted sales strategy that every modern company needs to put in place to stay in the game. And an effective platform can make a tremendous difference in building your digital sales toolkit.
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