When things get better, change is easy. Nobody with a smartphone longs for the days of desk phones. You don’t hear people complaining that they can’t find low-definition TVs anymore.
A widely dispersed yet seemingly instantaneous transformation is known as a sea change. If you’re still out to sea about adopting Social Selling techniques or think it’s merely a temporary shift, (remember when people said that the Internet was only a fad?), these stats will prove it’s time to lower the boom and change tack before some other ship sails off with your leads.
1. Large network of leads
Globally, there are now 2.078 billion active social media users, and that number grows daily. Almost everyone you want to talk to is online and on social media. For CEOs and many of the most successful people on the planet, social media is the only way you’ll ever get through to them.
2. LinkedIn’s untapped source of prospects
On LinkedIn alone there are over 364 million potential connections. That’s a lifetime of leads with everything you need to secure a warm contact or even a personal introduction.
3. Quota crushers
Salespeople who aren’t studying how to capitalize on this new world are being left in the dust. Total sales by social sellers blow past their peers by 23 percent on average. More than half of these sales achievement stars spend under 10 percent of their time on social channels. Just imagine what would it feel like to have more time for yourself.
4. Social sellers vs non-believers
Around two out of three sales teams (64 percent) that deploy Social Selling techniques hit quota, compared to less than half (49 percent) of anti-social sellers. Training and daily practice are the keys to going beyond quota and moving into star performer territory.
5. Accurate forecasts
Companies that support Social Selling techniques can reach 83 percent accuracy in current sales forecasts, compared to 44 percent accuracy for those that don’t. You can’t make good decisions without reliable data. Social sales teams were also able to post a 9.1 percent increase in revenue per sales rep year over year.
6. Not just for the millennials
Older business owners and execs are doing more and more business over social networks because they see how efficient it is. While 42 percent of social sellers are between the ages of 18 to 29, the surprising fact is that the fastest-growing demographic on Google+ and Facebook is in the 45-54 age group. If you think social media is only for younger people, your notions are old-fashioned. Market leaders have embraced social networks like Facebook to create new opportunities and strengthen relationships. Social media helps salespeople learn about their prospects and be prepared for upcoming meetings.
7. Traditional tactics are ineffective
Seventy-eight percent of salespeople using social media perform better than peers who don’t. That’s really the only stat you need to know. Cold calling can only generate a 2.5 percent success rate and that’s only when a salesperson is really persuasive. The average salesperson is just wasting everyone’s time without a social strategy.
8. A new sales paradigm
On average, 7 out of 10 sales are completed on the 4th to 10th interaction. The old sales playbook doesn’t fool anyone anymore. Sales professionals need to be social to sell. Otherwise, your prospect will choose someone they trust over you every time.
That’s just a sample of the Social Selling stats that have convinced so many salespeople to get on board with Social Selling — more leads, better referrals, faster closes, less work, higher revenues, and less pressure to hit quota. Nobody wants to return to the ancient days of cold calling. Get the training your sales team needs to go full steam ahead and leave competitors in your wake.