Ecommerce
Is a D2C Commerce Model Right for Your Legacy Brand?
D2C, a commerce model where the manufacturer of a product is also the retailer, is not a fad, but a ...
Mar 27, 2023
7 min read
Social selling has emerged as a powerful strategy for businesses across all sectors, including B2C, D2C, and B2B.
Consider the growing role of social media in eCommerce, and its effects on consumer behavior and purchasing decisions:
So it's crucial for companies to harness the power of social selling to stay ahead of the curve and establish themselves as industry experts.
What exactly is social selling? According to LinkedIn, it's a strategic method for sellers to connect and build relationships with prospects through social networks:
"Social selling encompasses the entire digital ecosystem ranging from social media to the internet to the sales tech stack".
In this comprehensive guide, we'll cover everything you need to know about social selling, from understanding its definition and context to differentiating it from social media marketing and social commerce.
You'll find a step-by-step guide to developing a go-to-market social media strategy, identify those that should be involved in your social selling efforts, and discuss best practices for success. By the end of this article, you'll be well-equipped to launch an effective social selling strategy for your business, whether you're operating in a B2C, D2C, or B2B context.
Social selling is the process of identifying, engaging, and nurturing potential customers through social media platforms, ultimately leading to increased sales and customer satisfaction.
It involves creating meaningful relationships with your prospects by providing valuable content, answering questions, and addressing concerns in a non-intrusive manner. In short: selling with a personality.
Social selling allows salespeople and brands to establish themselves as industry experts and thought leaders – basically becoming the go-to resource for potential buyers in their industry.
While social selling may seem similar to social media marketing and social commerce, there are differences you need to be aware of.
Social media marketing focuses on promoting brand awareness, sharing content, and engaging with the audience through various social media channels.
In contrast, social selling targets specific prospects and involves more personalized, one-on-one interactions with the aim of building trust and fostering relationships that lead to sales.
What is social commerce, then? This refers to the process of selling products or services directly through social media platforms, such as Facebook Marketplace or Instagram's shoppable posts.
It involves the integration of eCommerce functionalities into social media networks, so users can make their purchases without leaving the platform. It relies on technical integration between social platforms and payment gateways.
Global social commerce revenue is predicted to grow from $1.3 trillion in 2023 to $2.9 trillion in 2026.
Although social selling and social commerce both involve leveraging social media for sales, social selling is more focused on relationship-building and nurturing leads, while social commerce emphasizes the actual transaction process.
Social selling has become a vital strategy for businesses across all sectors, including B2C, D2C, and B2B. With the strong influence of social media on consumer behavior and purchasing decisions, companies need to harness the power of social selling to stay ahead of the curve.
For D2C companies, social media content seems to be welcomed by customers, with more than one-third (36%) looking to social media for D2C content. US D2C ecommerce sales have more than tripled in the past six years, growing from $36 billion in 2016 to $128 billion in 2021. And it's expected to grow a lot more from there.
In short, here's why social selling is essential for modern businesses:
To harness the power of social selling and maximize its benefits, your business needs a well-crafted strategy.
You've probably worked on some of these already; if you're marketing online in any way, they'll be familiar. But social selling does have some nuance to it. Here's a step-by-step guide to implementing an effective social selling approach:
While these are easy to lay out in a short list like this, they're obviously not easy to implement, especially in the short term. Social selling is a collaborative effort, and you'll have to manage your resources wisely to make sure everyone plays their part without getting overloaded. Let's take a look at who should get involved.
Successful social selling takes a certain amount of collaboration and alignment between various departments in your company. Here are the key parties that should be involved, and their respective responsibilities:
To maximize the benefits of social selling, these departments have to work together seamlessly. If you're serious about making this work, you'll have to let everyone know it's their responsibility to contribute, and give them the time to collaborate.
To make sure your social selling strategy is actually working, you have to track and measure its success. Monitoring key performance indicators (KPIs) can help you identify areas for improvement and adjust your tactics as needed. Let's define some of the best KPIs and metrics to keep an eye on:
Regularly reviewing these KPIs and metrics will help you fine-tune your social selling strategy and keep it on track. You'll have to figure out whether or not it's providing a good enough ROI through both tangible (conversions) and intangible (brand sentiment) metrics.
Don't be afraid to make changes and test new approaches. Social selling is an ongoing process, and you'll need a good deal of adaptability to make it work over time.
To make the most out of your social selling efforts, it's a good idea to follow some basic best practices. Some points to remember are:
Social selling has become an indispensable part of the digital marketing strategy for businesses of all types, including B2C, D2C, and B2B. By leveraging the power of social media, you can build trust, credibility, and strong relationships with your target audience.
Consumers increasingly turn to social media for recommendations and information. And that includes the business world: 75% of B2B buyers are said to be influenced by social media when making purchase decisions. (Review sites like G2 are likely to play a big part of that.)
Thankfully, the burden of content creation isn't as big as it once was: with plenty of AI digital marketing tools out there, it's much easier to draft and post social content at scale. And there are plenty of social listening tools (like Hootsuite) to make your customer interactions much easier.
In summary: companies can't afford not to be social sellers.
Ready to take your team's social selling game to the next level? Explore Circus Street's eCommerce lessons and unlock even more valuable insights for succeeding in the world of social selling.
D2C, a commerce model where the manufacturer of a product is also the retailer, is not a fad, but a ...
Martech - short for marketing technology, encompasses all of the software, technology, tools and pla...
Artificial Intelligence (AI) is becoming an essential tool for digital marketing in enterprises. It ...
Get in touch and we can start helping with your digital learning journey.