The rise of social media has reinvented the landscape of marketing and advertising. Businesses now have more opportunities to connect with their target market in a more direct yet virtual manner. This is called ‘social selling’.
Social selling has become the newest way to funnel marketing and advertising strategies to potential and target markets. Businesses are starting to harness social selling to their advantage, leaving the traditional cold-calling approach in the backseat. With its huge potential to drive engagements and sales, social selling is starting to urge businesses to enter social media platforms.
Establishing rapport is the primary defining feature of social selling. It prioritizes the creation of meaningful connections between brands and their target market. Being able to present products/services as valuable solutions to existing problems remains a significant part of social selling. After all, rapport is crucial in establishing trust and reliability among brands. Once this is done, brands now start to penetrate their market with actual advertising. Along the way, potential customers pick up their social media content and become additions to their following. This is how social selling helps brands increase the population of their target market.
Social Selling Index
How many additional followers does it take to determine the success of your social selling strategies? Or is it determined by the number of engagements on your content?
Social Selling Index (SSI) is a metric utilized to evaluate the impact of social selling strategies. It is determined using four (4) criteria:
- Your brand should be linked to a well-maintained LinkedIn profile
- You are able to find and connect with the right people belonging to your target market
- You produce and share valuable content across your social media platforms; and
- You develop connections intro stronger brand-client relationships
Does social setting actually work?
If words fail to convince you of how social selling is the newest avenue for marketing and advertising your products and services, then here are statistics from LinkedIn Sales Solutions:
- Businesses at the top of the social selling game generate 45% more as compared to businesses in the lower spectrum
- Businesses driven by social selling have 51% more chances of achieving their sale quotas
- At 78%, there is a massive gap between businesses employing social selling and those that do not utilize social media.
There are currently 4.2 billion in the world who are using social media every single day. In 2020 alone, another 490 million people joined social media. From 7.2% in 2019, this new addition equates to 13.2% increase. Given the huge population currently active on social media and the steady increase of its users every year, social selling is anticipated to grow with this rate and be utilized by more businesses.
So, if your brand is still inactive in the digital landscape, you’re missing out on a lot of potential clients and customers and significant business updates.
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