How to Use Social Media to MakeSalesSource: http://bit.ly/10bxMmK
What is Social Media?Andreas Kaplan and Michael Haenlein define social media as:“A group of Internet-based applications thatbuild on the ideological and technologicalfoundations of Web 2.0, and allow the creationand exchange of user-generated content.”•Social media marketing- the process ofgaining traffic or attention through socialmedia sites.•Social sales-Process of helping social buyersbecome customers.
Most Used Social MediaNetworks• “Facebook makes the world open by letting people stayconnected with friends and family, discover what’s going on,and to share what matters to you.• “Twitter is a social micro-blogging network that limits 140characters to openly message and communicate with anyoneor brand.”• “Pinterest in an online pinboard. Organize and share thingsyou love.”• “LinkedIn connects professionals to make them successful.”• “YouTube offers greater reach of both popular and hard toreach audiences with solutions to engage them in authentic,meaningful video ways.”
Why Social Media NetworksAre Important1 billion+ monthly active users as of December 2012 and 618million daily active users on average.500 million total users, 200 million monthly active users, 400million monthly visitors, and 400 million tweets.48.7 million total users, average time spent on Pinterest pervisit is 14.2 minutes.200 million members worldwide available in 19 languageswith over 2.8 million LinkedIn company business pages.1 billion monthly subscribers worldwide, 1 billion views a dayon mobile, and over 4 billion hours of video are watchedeach month.*Over 200 social networking sites out there!
Join a Community and Build aPersona• An integral part of the sales process is getting to know yourprospects and establishing relationships.• Turns out that social media can help you accomplish this.• Show your network that you’re a trustworthy resource.• Create a persona that’s likeable within that community.• 3 most successful social drip marketing networks are 1:1.Trends, openarchitecture, lists,#hashtags, retweet,favorite, reply,mention, DMGroups, professionalconnections, discuss,endorse, recommend,like, business news,messages, inbox,mentionStory, personable,facebook chat,messages, targetedadvertising, like, tag,comment, groups
Determine the Best Way to Connect WithProspects• Facebook: Best business to connect with consumers andtelling personalized stories through images. Ability to useFacebook Advertising for targeted demographics with smallbudget.• LinkedIn: Is the appropriate platform for sales of business-to-business services to connect with professionals or discuss.Advertising for targeted demographics with small budget.• Twitter: can be used for all kinds of sales based on keywordresearches, topical twitter chats, following new people and“warm-up tweeting,” open architecture, and lists. Paidoptions such as Promoted Tweets, Trends, and Accounts arean effective way to draw in new followers and even targetyour competition.*Have an email signature and business card including socialmedia networks.
• Friend, Follow, or connect with profiles that match your clients.• Conduct searches on social networking sites or resources likesocialmention.com to find people who are talking about your industryor are using related keywords.• Join event groups and associations on Linkedin. For example:• IAEE-International Association of Exhibitions and Events• GSAE-Georgia Association of Association Executives• SGMP Georgia Peach-Society of Government Meeting Planners• Then comment on their posts, “retweet” them, answer a question, orshare something they say.• By contributing to their conversation you add value to their networkand in return they may engage back with you.
Build A Relationship• Salespeople must develop relationships more than developingleads, because good relationships will turn into leads.• Engage in meaningful conversations with content posted.• Once you develop a relationship, you can tell the prospecthow our service might be something they want or need.
Engage in A Conversation• Social intelligence: ability to put ourselves in somebody elses shoes and seethe world from their perspective.• The real value of social media is that it can boost our social intelligence.• “Here are some solutions to your problem, maybe our service can help.”• Contribute to a conversation they are already having with their socialnetwork and share content that they will find useful.• Make everything shareable with social media plugins.• Give thanks when necessary and reward referrals.• Engage in weekly conversation twitter chats. For example, event plannersengage in chats like #eventprofs, #speakchat, #engage365, #assnchat,#luxchat, and #weddingmarket.
Influencer Marketing• Allows you to reach yourinfluencers who igniteword-of-mouth advocacyprograms for your brand.• Concept is to focus on thoseindividuals and leaders whomay have 1,000’s of Facebookfriends, 1,000’s of Twitterfollowers, are a news figures,or are celebrities.• These people do something tocause an action or behaviorchange in a significant numberof people that favors thebrand we represent.
Deploy Social Media as a Service• Help people use social intelligence and make recommendations.• Deliver services worth recommending (general contractors, rooms).• Hear someone give a problem=SOLVE; See a question=ANSWER.• Give yourself an opportunity to send a relevant response, then youare truly engaging. Reply to people talking about events.• A happily engaged customer=a perfect lead.
Your Posts• Keep it Short under 100 characters if possible.• Be Visual: Photos get a 100% more engagement.• Ask for what you want and post daily for consistency.• Find the best time to post and then stick with that time.• Have a variety of posts: provide professionalism and personalinterests or hobbies.• Make posts that are shareable, give advice, warn, amuse, inspireand amaze… don’t be boring.• Do not focus on pitching until you have built a relationship byeducating, helping, or engaging in a conversation.• Add links to your website and shorten them usinghttps://bitly.com/.
The “Cheat Sheet” 7 Steps to SocialSalesEvery Day in 15 minutesAsk one person you talk to in a day to “Would you please like the ourFacebook page to stay connected with us? We are providing servicesto better relationships with people for our new social media program.I would greatly appreciate it!”a status, connect with someone, retweet, or follow someone.Post an intriguing piece of content for your target market.Respond to any past messages and continue the conversation.Engage with someone new in a social conversation like #eventprofs onTwitter or ask a question in a LinkedIn Group.Monitor a social conversation and filter out the “noise” to hone in onwhats relevant, take notes.Provide customer value by participating in the right conversations,right time with the right intelligence from insights and notes.
Formulas to Measure SocialMedia Benefits Per Month12) Sales Value - Social Leads (One-Time or Life-time Value):GOAL: Grow Revenue, Generate Leads, Acquire New Customers_____(#) qualified online social leads identifiedX _____% lead-to-customer conversion rateX $_____ (AOV) average order value________________________________= $ Lead Sales Value (Single Purchase)Example: Estimated 100 qualified leads routed to sales teams with atypical lead-to-conversion rate of 4% at an average order value (AOV) of$2,500 = $10,000 equivalent converted lead sales value (single-purchase)
14) Sales Value - Social-Aided Conversion:GOAL: Grow Revenue, Boost Conversion( _____% new conversion rate − _____% old conversion rate)/ _____% old conversion rateX $_____ average # monthly products soldX $_____ average product sales value__________________________________= Increased Sales ValueExample: Estimated conversion rate increase from 2% to 3.5% with anaverage 100 monthly products sold at $750 = $32,142 more in monthlyproduct sales
What is the ROI of SocialMedia?Grow Revenue Reduce Costs Improve Satisfaction• Leads• Conversion• Sales• CustomerRetention• Advertising (ad impressions,clicks, traffic)• Content (articles, reviews)• Media (videos, photos)• Resource staffing• Market Research (surveys, focusgroups)• Product Development• Public Relations• Communications• Survey FeedbackScore• PositiveSentiment/ComplaintCount• American CustomerSatisfaction Index(ACSI)• Perfect Orders• Returns
Questions?Tweet me at @BenjaminKepnerConnect with me on LinkedinCheck out my blog at http://bkstrategic.com/Like this presentation on Slideshare?Please share it across social media!