Successful organisations understand the importance of embracing innovative strategies, such as social selling, also known as virtual selling or digital selling. In fact, studies have shown that businesses that adopt social selling techniques outperform those that do not by a staggering 78%.
In this blog, we will take a closer look at social selling, uncovering its potential and demonstrating how it can revolutionise your sales efforts. Further exploring digital engagement, strategies, tools, and techniques that will propel your organisation's efforts.
What is social selling?
Imagine a sales approach where connecting with potential customers and building solid relationships happens seamlessly through social networks. That's the essence of social selling—a strategic method that gives sales teams the power to engage with prospects on a whole new level. But social selling has undergone a transformation in recent years, expanding beyond social media alone. Now, virtual selling has entered the scene, leveraging advanced sales technology to connect sellers with buyers in innovative ways.
Social selling is building trusted relationships through meaningful social interactions, positioning your brand as a reliable solution to customers' problems. It focuses on lead generation and maintaining relationships throughout the sales pipeline and funnel, rather than pursuing quick, one-time deals.
Why Is Social Selling Important?
In our increasingly digital world, social selling has emerged as a transformative alternative to impersonal sales methods. By actively engaging with customers through actions like commenting, liking, and sharing their posts, while utilising sales technology like LinkedIn Sales Navigator, companies can naturally enhance their social credibility and unlock the potential of "free" advertising to convert prospects into buyers.
There are benefits of social selling, from sales data, quality leads and the opportunity to see directly to a larger network of decision makers. We explore these further below.
Social Selling Supports Sales Teams
Social selling produces more selling opportunities for sales reps to take advantage of while improving the quality of leads. It doesn't just generate more leads, it focuses on developing the correct type of leads. 
In addition to driving sales, social selling has the potential to decrease operational and processing expenses, particularly when integrated with a CRM system. By utilising a CRM platform, the laborious tasks of research and data consolidation are replaced by social listening and measurement dashboards. Leveraging technology to engage with potential buyers on social media and professional networking platforms simplifies the process of building relationships. Once you have established credibility through your profile and initial introduction, the convenience of online communication allows for efficient and prompt interactions, potentially shortening the sales cycle.
These automated processes save the sales team time, allowing them to get back to their day to focus on tasks more meaningful to the organisation.
Social Selling Helps Sales Teams Form Real Connections
The landscape of networking and relationship-building has undergone a significant transformation due to the COVID-19 pandemic. Rather than relying on traditional methods like industry events, trade shows, and conferences to connect with potential prospects, businesses have embraced digital channels to establish these vital relationships. This widespread transition towards online relationship building has made social selling an indispensable requirement.
Your prospects are engaged in social buying
More people are currently active on social media, which has led to a massive increase in e-commerce sales. Many businesses are offering their products and services in the online space versus just in person, so the potential for brands to make social sales is huge! Consumers are also utilizing social media platforms for brand and product research, so they’re already getting ready to buy.
Your main competitors are already social selling
Finding prospects doesn’t always lead to immediate sales, but as you reach out to more and see how they respond, you’ll start noticing patterns in their behaviours. Conducting market research can be a useful way to determine why customers enter the market to buy certain products and how to best sell them. These insights can help sales reps target and contact specific prospects while enhancing their long-term strategies.
Social Selling Best Practices
No matter which platform you intend to use to reach your target audience, make sure you’re following social selling best practices.
Here are 4 key pillars of social selling:
Create a professional brand with value
When interacting with potential customers and existing clients on social media platforms, it is essential to avoid being overly focused on sales. If your brand is new to a particular social network, it's advisable not to immediately dive into aggressive selling tactics. Instead, prioritize the establishment of trust and the delivery of genuine value by positioning yourself as an expert in your industry.
A valuable approach to accomplish this is by sharing intriguing content. If your brand operates in the B2B sector or is regarded as an industry tastemaker, LinkedIn can be a valuable platform for sharing relevant content created by others that aligns with your brand's values. Alternatively, you can create and distribute your own insightful content that others may find useful, thereby positioning your brand as a thought leader in the industry. The primary objective is to demonstrate to prospects that you are offering something valuable to them, rather than solely focusing on your business's interests.
Select the Appropriate Social Media Platforms
To effectively reach your target audience, carefully choose the social media platforms that align with your company and product. Once you have identified the most suitable platforms for your business, take the time to understand the tools and etiquette specific to each platform. This will enable you to optimize the advantages offered by each platform. Consistency in your social interactions enhances client engagement and opens doors for future conversations regarding potential collaboration with your organization.
Build relationships with the right prospects
The essence of social selling lies in cultivating meaningful connections with the right prospects for your brand, rather than simply expanding your contact list. It is crucial to avoid reaching out to prospects who do not align with your solutions, as this can result in appearing inauthentic and hinder your sales representatives' ability to establish genuine connections.
Employ social selling tools and techniques (which will be discussed in the following section) to identify prospects who meet your specific criteria, such as their function, role, or industry. By doing so, you will be able to forge more profound connections and increase your chances of successfully converting prospects into paying customers.
Be Authentic
By sharing your expertise and offering valuable information that directly addresses the challenges faced by your prospects, you can establish trust. It's crucial to communicate with authenticity and prioritize the needs of the prospect over making a sale.
Similar to the significance of crafting personalized cover letters when applying for multiple jobs, it's essential to avoid sending generic messages to numerous potential buyers in social selling. Take the time to personalize your outreach by acknowledging shared professional contacts, referencing a piece of content that you both found interesting, or highlighting a commonality between you and the prospect. This personalized approach demonstrates your genuine interest and enhances the chances of building a meaningful connection.
Stay informed and consistent with insights
Patience is key in social selling; instant results should not be expected. Even if some of the prospects you reach out to are not yet prepared to make a purchase, it is important to stay connected. By nurturing these relationships, you will remain at the forefront of your prospects' minds when they are ready to make a decision.
Furthermore, numerous social media platforms provide built-in tools to assess the effectiveness of your social selling endeavours (more details on this will be discussed below). These tools enable you to determine what strategies are yielding positive results and when adjustments to your tactics may be necessary.
Maintain consistency
Ensure consistency in the frequency of your social selling efforts. Collaborate with your marketing and sales team to determine how often you will engage on social media platforms. It may be beneficial for each sales team member to agree upon a dedicated amount of time each week specifically allocated to activities such as sending messages, sharing relevant content, prospecting for leads, and scheduling appointments with potential clients. By incorporating this scheduled time into their routine, it is more likely to become a habit, resulting in heightened engagement and increased sales leads.
Conclusion
In conclusion, social selling has emerged as a powerful approach to connect with prospects, building meaningful relationships, and drive sales in today's digital age. By leveraging the vast reach and interactive nature of social media platforms, businesses can effectively position themselves as industry thought leaders, provide valuable insights and address the pain points of their target audience. However, it is essential to approach social selling with authenticity, focusing on the needs of the prospects rather than being overly sales-oriented.
