Craig Brigg delves deep into this fascinating subject.
Businesses have dealt with more change in the past three years than in the past three decades, and there has been a massive increase in the number of channels that businesses are selling on. All of this change has altered the manner in which we shop, sell and ship goods.
Nearly half the world’s population use social media daily, and according to Hootesuite, that equates to about 3.5-billion people. Not only do consumers spend significant time on social media, but their spending habits are changing, and people now want to buy from brands that align with their social beliefs. So, build a brand online that stands for something. Global shoppers are more likely to buy from a company with shared values and a business that has focused on customer retention and lifetime value, because if you invest more in your customer’s experience, you will build a community that keeps customers coming back.
One issue however, with the move of so many customers online, is that the customer acquisition costs have risen enormously. And so it is now more important than ever to increase customer lifetime value. It is also important not to completely rule out the magic of in-person experiences in store, because ideally customers want both. Customers want to order online but return in store, or see a product in the warehouse and buy it online. What this means for the retailer is that they need to be equally competent selling in-store and digitally, where e-commerce sites link effectively to their Facebook and Instagram platforms – allowing for a smooth customer experience.
Based upon this change in consumr buying practices, it is imperative that your retail business has a clear strategy to achieve optimal sales productivity. The role social media plays is that it helps a business drive its pipeline by engaging with consumers early in the process, and maintaining relationships with current customers. Buyers are considering the legitimacy of a business based on their presence on social media, in the same way that the website was a factor in the 1990s. It is important to understand that creating an Instagram or Facebook account does not magically generate leads and sales. If your business does not employ a system of capitalising on the followers and likes, you will never see an impact on the bottom line.
The true value of social media comes when your business is able to bridge the differential between the buyer, the social platform and the sales process. It is not a quick fix, but it is extremely beneficial and represents another tool in the seller’s repertoire.
So, when your customers are spending up to three hours per day exploring their social platforms, be the business that they return to by offering a sales process that is credible, efficient, engaging and closely linked to the physical in-store interaction.
Happy Selling!
There are four ways to integrate your social selling into your sales process: