Social media was often overlooked as a professional sales tool for B2B, with businesses considering it a distraction and something to engage with outside the office. But gone are the days when sales teams relied on cold-calling and other traditional marketing methods to generate new business. While these tactics still have their place in the sales cycle, the advancement of social media has paved the way for new selling opportunities...

Social selling is the process of developing relationships with prospects, generating leads, and nurturing client partnerships, using platforms like LinkedIn, Twitter, or Facebook. For B2B firms in particular, LinkedIn is considered the primary channel due to the volume of decision makers active on the platform, and its wealth of lead generation features.

Tactics ‘social sellers’ use on these platforms include content marketing, such as sharing industry-related articles and own content (i.e. blogs and videos); engaging with the social posts of existing clients and prospects; and using platform-specific messaging features, like LinkedIn InMail, in order to reach out to new leads and nurture existing clients. Additionally, active social sellers typically undertake a degree of social listening, helping them spot new sales opportunities.

It ‘humanises’ lead generation

Social selling is arguably the most effective way to attract new business because it allows salespeople to develop a rapport with prospects, which can be difficult for corporate brands. We place greater trust in a human voice, which is why the likes of Word of Mouth (WOM) and influencer marketing are so effective in generating leads. In fact, according to AdWeek, 76% of individuals surveyed say that they’re more likely to trust content shared by “normal” people than content shared by brands. And sellers themselves report benefiting from this personal approach, with 31% saying that social selling has allowed them to build deeper relationships with clients.

It’s cost effective

LinkedIn reported that it costs 75% less to generate leads on social media than any other medium. According to figures released in the Q2 2020 IPA Bellwether report, UK marketing budgets were slashed to their lowest levels in 20 years, largely driven by the Coronavirus crisis. And with 64% of respondents registering a decrease in spending in Q2 2020 compared to Q1, firms will be looking to attract new business in the most cost-effective way.  

It facilitates the sales cycle

Social media platforms are ripe with selling opportunities. According to LinkedIn, over 76% of buyers are ready to have sales conversations on social media, while IDC found that 75% of B2B buyers and 84% of C-level executives consult social media before making purchase decisions. So salespeople can target a vast pool of prospects that are already engaged, and perhaps actively looking for new products and services.

With customers primed to engage and convert, there’s no need for a “cold” approach.

Source: IDC Social Buying Meets Social Selling: How Trusted Networks Improve the Purchase Experiience, April 2014 

It’s more effective than other lead generation techniques

According to LinkedIn, Social selling generates a staggering half of all revenue for 14 major industries, including computer and network security, healthcare, and financial services.

While a company’s central marketing tactics – such as email and paid social – can be effective ways to convert mid-funnel buyers, attracting and nurturing top of the funnel audiences is trickier through these methods. Many have traditionally relied on cold-calling or direct mail to attract leads at the top of the funnel which is often seen as a nuisance. According to Harvard Business Review, 90% of B2B decision-makers never respond to a cold outreach, while experts have long argued that unsolicited cold-calling is ‘dead’.

But a direct approach still has its place when it complements a wider social selling strategy.

Source: LinkedIn Sales Solutions, What is Social Selling?