When sales and marketing work well together, social media marketing and social selling are powerful strategies for driving revenue. In fact, as recent social media statistics state, 64% of Twitter users and 51% of Facebook users are more likely to buy the products of brands they follow online.
You may think that they are one in the same. However, there are some important distinctions.
What is Social Selling?
Social selling is a vital tool that can be broken down into four main approaches:
- Creating a strong brand
- Building relationships
- Engaging with your customers
- Focusing on your prospects
Social selling can show your audience that your company is active, aware and approachable, and provides you with the data to turn those connections into potential sales. No doubt LinkedIn, Twitter, Facebook, and Instagram are integral parts of social selling but the bigger picture involves sharing the value-added content with the intended audience.
LinkedIn reported that companies using consistent social selling processes attract 45% more opportunities than their rivals, and are 51% more likely to achieve quotas.
What is Social Media Marketing?
Social media marketing is the process of marketing online by implementing different strategies that enable you achieve marketing communication and branding goals. Content sharing, images, and videos are big contributors to social media marketing. Businesses across the world increase their ‘word of mouth’ advertising through Facebook, Twitter, Instagram, LinkedIn and other channels, which is a powerful method of promoting products and services.
Social selling is simply sales with a sole objective of revenue generation. On the other hand, social media marketing is any social media activity that does not have revenue generation as its primary goal.
The only differentiator between social selling and social media marketing is ‘Revenue Creation’. Social selling drives revenue, while social media marketing drives awareness.
Combining Social Selling and Social Media Marketing
Social media marketing is a dynamic powerhouse that can deliver the right content at the right time, but the potential buyers require an established relationship. Both sales and marketing go side by side and without each other, the selling process is considered incomplete. And together, social selling and social media marketing have the potential to positively impact your businesses’ bottom line.