Social Selling Should Be Part of Every B2B’s Strategy
Market research companies Forrester, HBR, and Gartner advise B2Bs to develop digital strategies for all aspects of their business. These recommendations include marketing and sales which are moving into tighter alignment due to changes in customer needs.
Here are three reasons why creating a social media strategy will increase your company’s sales:
1. Buying habits have changed.
Today seventy-five percent of B2B buyers use social media to make buying decisions. A full fifty percent of them use LinkedIn as a source for making purchase decisions. Market researchers recommend that you try to connect with prospects first, perhaps before they know they need your product.
Build value early. Because by the time they contact you on the web, buyers are usually 57% through the buying cycle.
2. More Referrals
There are 1.2 million decision makers on LinkedIn. Seventy-six percent of B2B buyers prefer to work with recommendations from their professional network. Thus social media is an excellent source for these referrals. And your sales reps have a lot of connections. The average member of LinkedIn has 930 of them.
The 2017 Edelman Trust Barometer, found that 84% of B2B decision makers begin their buying process with a referral.
3. Higher closing rates
According to the 2016 Sales Benchmark Index, sales reps active on LinkedIn are 56% more likely to hit their sales goals. Social selling has the highest lead to close conversion rate of all prospecting methodologies. Social Selling sees a 15% prospecting conversion rate, at least 5 times greater than the 3% prospecting success rate from marketing activities.
Sales reps, like many of us, need time and experience with social media in order to feel comfortable with it. But once this is done, most reps will tell you they wouldn’t be without it.
Need a social media strategy for your company? Let us help! Contact us today!