The two most common sales misconceptions I hear from fellow entrepreneurs are:
- The phone is dead; and
- Social selling isn’t worth it.
While these channels may not be the best fit for your primary sales strategy, they’re far from useless —especially social selling, which is roughly the use of social activity in your sales behaviors. Today this might take place on social media, via networks such as Facebook, Instagram, LinkedIn, Pinterest and Twitter, but it can actually occur either online or offline. It’s a “softer” way to interact directly with your prospects by offering relevant content and answering questions until the prospect is ready to commit to a purchase. Here are three recommendations to keep in mind when considering using social selling.
1. Focus on true social selling
“Social Selling” should not be confused with “Social Marketing,” in which marketing is used to effect social change, or “Social Media Marketing,” by which websites and social media networks are used to promote a service or product to large segments or groups. Rather, the goal of social selling is to nurture one-on-one relationships with individual prospects (instead of transmitting the same message to many prospects at the same time), supporting the prospect through the sales phases of Awareness, Consideration and Decision. Having said that, you should definitely make sure you are doing both social selling and social media marketing really well by providing timely, appropriate marketing content, then following those who read and/or comment on the content in order to cultivate relationships.
2. Pay attention to the health of your sales pipeline
The sales pipeline begins with a lead and ends with a paying customer by following a specific sequence of actions, beginning with Prospecting. This all-important first stage of the pipeline entails finding potential clients to move through the sales funnel in order to convert them into a customer who generates revenue for your business. When social prospecting, you search or monitor social networks to find customers who have expressed interest in your product or service, seem ready to buy, or appear to be qualified leads based on a pre-determined set of target buyer profiles. With practice, social media can really shine in the prospecting phase, especially since the alternatives — such as private databases — can be quite expensive.
3. Use at least two social networks
Social media platforms constantly tweak their rules, so it’s important to not depend entirely on just one. I witnessed many social sellers panic when Facebook changed their engagement rules and LinkedIn changed their group rules, so hedging your bets and focusing on multiple social networks is a good idea.
Ultimately, social selling should at least be evaluated for your new bootstrapped venture. The data from that evaluation may allow you to either double-down on that avenue or switch to a more old-fashioned approach. Regardless of your path, definitely conduct ample research to ensure you’re doing the right thing for your business, and reach out if you have any questions. We can help fill out the roles you’d like to delegate.