Should my 2022 business planning include social selling?
Timothy "Tim" Hughes 提姆·休斯 L.ISP
Should have Played Quidditch for England
As commercial leaders approach 2022 planning, there is no bigger risk impacting their ability to achieve growth goals than not making the pipeline they need.
Like it or not, social selling (some call it hybrid selling, some digital selling, some remote selling, some modern selling, some call it virtual selling) is the new normal – for both commercial teams and customers. A LinkedIn study on hybrid sales found that nearly half of sellers closed deals of $500,000 or more in the last year without ever meeting the buyer in-person – and customers are more than comfortable with this change. In fact, 50% of buyers say that remote work has made purchasing easier.
The hybrid selling problem
Currently hybrid selling is a tactic, salespeople have been left in the dark as they learn on the job, sharing tips at sales meetings isn't going to make the transformational change leadership want and certainly isn't going to meet the 2022 budget.
What you need is a strategy, a methodology on how to sell in a hybrid fashion.
What do we know about social media?
Simon Kemp has just published his quarterly round-up of the facts and figures for the internet, seach, and social media.
If you are not aware of this, it's sponsored by Hootsuite and We are social, but put together by Simon.
So what are the highlights?
Social networks are now the most important online destination, even ahead of search
95% of people online, now use social networks and social messaging, which places them ahead of search which is at 84%, online shopping which is 59.7%.
Why this presents your business with an opportunity
How about I can pick you up tomorrow from your house and drive you to a place where all your prospects and customers hang out. Wouldn't that be great?
All you have to do is walk up to them and have a conversation with them. You can stay as long as you like. This is the opportunity that social provides for your business, some call it social selling, some digital selling, some remote selling, some virtual selling.
Social selling is ..
Using your presence and behaviour on Social Media to build influence,
make connections, grow relationships and trust, which leads to
conversation and commercial interaction.
Just think all of your clients in one place, all you have to do is have a conversation with them. Now if that isn't greasing the wheels of industry and don't what is.
Where you are currently going wrong
In the past you called people up and pitched to them, you sent them emails and pitched to them. Problem is, that people take those tactics and use them on social. As I described above, social is a social network.
Using those tactics on social is the same as you walking into a networking room and pitching at people. You wouldn't do that at a networking event as people would call security.
Your prospects and clients are on social, now you need to go and have a conversation with them.
What do you need?
1. A buyer centric profile - this is your "shop window" when somebody "walks past" your shop window, are they intrigued by what they see and want to walk into your shop? Or do you look the same as everybody else and people just walk and scroll past?
2. A network - It stands to reason that if you want to influence, have conversations and sell to an account you have to be connected to them. Let's not forget, this is a social network, connecting and saying you are a salesperson or connecting and pitching won't get you far. I know that sounds all very disingenuous, as I explained this is a social network and is different from calling people up and interrupting them.
3. Insight - The final thing you need is insight. Leave the brochures back in the office, people can go online and read those. Bring to your clients insight, tell them something they don't know, explain how you can solve your clients business issues. Not as an "advert", but in a blog, like this. I'm not telling you anything about DLA Ignite, just offering you support and advice.
As a leader, it is a business imperative that you must put budget in your 2022 plans for social selling.
But your a strategic thinker, yes? Better still, why not train your team in 2021 so they hit the ground running in 2022? Let's use the back end of 2021 so we ace 2002?
So who's doing this?
In case you missed it, the Bank of America’s Merrill Lynch have banned cold calling and have moved all their people to social selling. This isn't some trendy tech company that might have decided to do this on a whim, this is a very conservative financial services company that has made a decision based on data.
But surely cold calling has a better ROI than social selling? Not according to Merrill Lynch.
"They will also be encouraged to contact prospects over LinkedIn, which has a higher hit rate than cold calling"
The CRO (chief revenue officer), Richard Eltham of Namos Solutions, of one of clients posted a comment on LinkedIn about social selling. See here.
“Social selling is not an option now it is the way of the world and you either learn and execute it or fear getting left behind”
Kevin Murray who is the Head of Sales at MacArtney Underwater Technology recently posted about his success with social selling here and wrote an article about the transformation that has happened in sales here.
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Revenue Through Reputation. I help leaders become more connected, more relevant and more influential for revenue growth.| Founder x 7 } Podcast Host x2 | Founder, Fist Bump “Revenue Through Reputation” book coming soon.
3yThe data is proving that sales can close big deals without ever meeting f2f with their buyers. It is not about the live, f2f. It is about the relationship, trust, adding value....all of which can be done efficiently in a digital and social world. Great insights as usual Timothy!
Growth Operating Partner | Maximising ROI for high growth PE and VC invested entities | Sales Transformation Specialist
3yYes. And any assessment I do, 10% of it focuses on the social selling engine and competency Timothy (Tim) Hughes 提姆·休斯 !!
Save Ferris!
3yThe most telling comment in here is "nearly half of sellers closed deals of $500,000 or more in the last year without ever meeting the buyer" and I think this proves that there has been a paradigm shift in terms of how people buy...and it would seem how successful people sell. Any business that isn't embracing these learnings is sunk!