What is Social Selling?

What does this red-hot buzz term really mean?

The concept is simple.  The execution is more of an art.  People have always bought from people.  So, why has it gotten so difficult for business people to get together?  The reason is simple: we got busy.  The space in which we all operate got very crowded and noisy.  Business people spend a lot of effort shutting out that noise.  Unfortunately, some very useful information and connections get shut out along with the unwanted.

Social selling is simply using the social networks in which people operate to make connections and gain warm introductions.  The old alternatives of “smile-and-dial” cold calling and spam emails simply don’t work anymore because they are unwelcome interruptions.  C-level executives have the luxury of a layer or two of gatekeepers that insulate them from unsolicited phone calls.  Accurate email information is almost never given on websites and marketing data services frequently have outdated and inaccurate information.

The American Association of Inside Sales Professionals released study data that reveals how ineffective these outdated techniques are.  The open rate for unsolicited emails is only 4 percent.  That’s just 4 percent that even opened it!  The appointment rate from cold calling is only 1 -3 percent.  So, if you need 10 appointments per week, you might have to make 500 to 1000 calls in order to achieve your goal.  Most importantly, 84 percent of all buying processes start with some kind of referral.  In other words, the vast majority of successful engagements start with the business development executive having some help from the buyer’s friends, colleagues, or industry connections.

The list of tools available grows each year, but include battle tested platforms like LinkedIn, Facebook, Google+ and Twitter.  The first step, if you aren’t there already, is to begin building a substantial professional network of people that have done the same.  Your connections will be the key to finding and getting introductions to the people and companies that are of interest to you.

While social media is a valuable tool, old-school networking, like trade organizations and civic groups are still a great way to meet valuable connections.  Simply use social media, like LinkedIn, as a means of memorializing your connection and staying in touch with your new acquaintances.  Once you’ve built your professional network, you can begin to search businesses and identify individuals that are connections to you or your connections.

Remember, social selling relies on help from the people with whom you are connected.  If you expect help from others, be willing and enthusiastic about helping others in your network.

Happy prospecting!