In our recent webinar, sponsored by Act-On, Greg Cohen, Senior Manager for Social Media and Influence at UCB, Renee Ducre, Global Consumer, Digital Marketing Executive of IBM, and Gal Josefsberg, VP Product Manager and Marketing, defined social selling and how it differs from traditional sales.
Facebook has announced an expansion of their buy button beta testing, opening it up to more Shopify users. The move could provide a significant boost for Facebook's e-commerce ambitions, with the expanded Shopify user-base providing a great test case for their in-stream buying options.
A new report from BI Intelligence has found that while social media only drives a small share of total online retail sales at present, its impact is becoming “impossible to ignore”. BI’s report shows that social-driven retail sales and referral traffic are rising at a faster pace than all other online channels, with social increasing its share of e-commerce referrals by nearly 200% between the first quarters of 2014 and 2015.
One-click buying is cropping up everywhere these days. All the major social media platforms are looking to integrate in-stream purchases, with Instagram and Pinterest the latest to join the conversation. But why is there such a big focus on in-stream purchases? Will it really make that big a difference?
A webinar promotion popped into my social feed this past week asking the question, “Who owns social selling?” It went on to give the case for ‘sales’ and ‘marketing.’ Turns out that it’s neither … apparently it’s a partnership! Really? It takes a webinar to bottom that one out? But what about support, account management, professional services, finance? The list of departments that have a level of engagement with a prospect or customer is extensive. How do they fit into the ‘owning’ spectrum?
I joined LinkedIn in May of 2005 and like most people at the time it was my online resume, my online identity to headhunters and hiring managers. I had just returned from serving a tour of duty in Iraq and was working as an inside sales rep for a small software company. I connected with coworkers and some of the people I got to know in the industry. I didn’t do any “work” on LinkedIn, I was too busy being measured on number of dials and talk time. I like to refer to this as the Dark Ages of Sales. Outside of my sales numbers, weekly conversations about my dials and talk time were the norm. The problem was that even then, dialing for dollars was a colossal waste of time. My number wasn’t being made by these cold calls, it was being made because I was getting referred to new business by people I had already done business with.
Social shopping is the new frontier for retailers and businesses alike. With consumers becoming increasingly tech and shopping savvy you need to distribute your financial resources. It is not to say you need to invest and sacrifice your business model, but remain open to this untapped revenue stream.
We can learn a lot from the best basketball rebounders. So often in business development and life, it’s not the first attempt that gets us the win. If you’re in the “social selling game,” people comment on your articles, send you LinkedIn connection invitations, mention/tag you, or share your content. People care about what you’re sharing and saying!