Before we hit the panic button here, let me allay your fears. I’m not recommending or advocating that you abandon your traditional sales training, cold calling, marketing seminars, etc. I’m merely recommending that you augment this and include Social Selling.
If you’re going through any one of the below issues, you may want to consider a closer look at Social Selling.
- Quotas are not being met by sales reps. (As a side note, the Aberdeen Group’s data reveals that 60% of sales reps hit quota in most B2B sales departments. With Social Selling, this number becomes 80%.)
- Your sales reps can’t get people on the phone. Contact rates for e-mail and phone have lowered significantly. Are your sales reps complaining about this?
- Marketing is complaining that customers and prospects are opting out of your e-mail newsletters.
- All sales reps have concerns about quota, but lately the majority of them are extremely worried. Have you asked them what’s up?
- You’re wondering how your customer knows so much about your company’s products and services.
- Your customers are increasingly driving the conversation towards price and fulfillment, with no chance for you to demonstrate value.
- Your customers are actively being engaged by your competitors with timely, relevant, and tailored information that helps them.
These are just some of the leading indicators that you should monitor to determine whether your company needs Social Selling.
What Will You Do About This?
If you’re like most companies we’ve talked to, your team has come up with some very obvious solutions:
- Increase the required number of appointments every month for sales reps.
- Have marketing conduct more trade shows, marketing seminars, etc.
- Ensure sales managers are urged to enforce a minimum cold calling quota every day.
And although these solutions may have a small uplift in results, it doesn’t solve the inherent problem.
Playing On an Uneven Playing Field
Significant metric outcomes require a 180 degree shift in thinking. If your plan is to “pound the phones” even more, you may want to consider that data is now increasingly showing the diminishing return on these efforts.
As your buyer is fundamentally changing, your inability (or willingness) to change with them will ultimately affect you detrimentally.
Your buyer today is a mobile connected, digitally driven information gatherer. They will buy into you without you even talking to them. Yes, your brand has a lot to do with this, but really the biggest challenge you’ll face is that 65% of buyers will choose the first vendor that helps them. Buyers can easily go online and research everything about you, your sales reps, past client engagements, etc.
The Need for Social Selling
Your organization can affect the way these buyers come into your funnel and engage with your team. How? By you adding value to the sales process with your ability to teach and guide your buyer, you significantly increase your chance of success. There is now hard data from some of the largest research houses in the world that demonstrates this as fact.
The Bottom Line
If your organization is experiencing any of the pain points described above, you owe it to yourself to have a look at what Social Selling is and how you can implement it today. Some of the largest companies in the world are now adopting these philosophies because they realize that the playing field is getting very uneven.
Social Selling isn’t difficult. It’s different. You owe it to yourself to start today. You have nothing to lose and everything to gain. Feel free to contact me to learn how it can be applied to your organization today. You can also download for free our 42 LinkedIn Sales Tips or 10 Steps to Building a Social Selling Machine.