SalesJuly 27, 2023by admin0

Social Selling: The Future Of Network Marketing

What Is Social Selling?

Social selling is a significant trend in network marketing and is often considered the industry’s future. It refers to using thoroughly social media platforms and online networks to build relationships, engage with potential customers or prospects, and promote and sell products or services. It goes beyond traditional sales methods by creating genuine connections and providing value to the audience.

You may work in financial services, real estate, law, or B2B sales. Whatever your industry, if you haven’t added social selling into your funnel, then it might be possible that you are losing business to more social media-savvy competitors.

4 Reasons To Have A Social Selling Strategy For Your Businesses

If you still need to sell (see what we did there?) on social selling, here are four reasons to try it.

1. Social selling works

Don’t just take our word for it. According to LinkedIn Sales Solutions’ internal data: Business leaders in social selling create 45% more sales opportunities approximately than brands with a low social selling index. Businesses prioritising this concept are 51% more likely to outreach their sales targets. Also, 78% of businesses that use social selling outsell companies that don’t use social selling.

2. Social selling with the help of social media helps professionals build real relationships 

Networking and relationship-building are easy nowadays with real-time meetings online, and this is the perfect time to start going social. Social selling creates ample new opportunities to build brand awareness, and connect and engage with customers on social media, where they’re already active. That means you can reach out to an audience interested in your offerings and connect with them. In this way, you can build authenticity, trust, and that, in turn, becomes a loyal customer.

3. Your customers are already engaged in social buying 

India, the UK, Australia and New Zealand saw a third of people ages 18 to 34 purchase social media in that same timeframe. Consider the sheer volume of people currently using social media to buy, and thus, the potential for businesses to make social sales is huge and growing:

4. Your top competitors are already making social media sales

Using social selling means staying competitive. Other brands interact with potential customers on social media on popular social platforms such as Instagram, facebook and even WhatsApp. 

Now, consider the numbers:

  • 200 M Instagram users visit a profile at least once a day, and out of that, 81% of Instagram users are actively researching products and visiting accounts of brands and services on the platform.
  • 18.3% of American Facebook users purchased Facebook in 2020.
  • Approximately 70% of YouTube active users have bought a  product after seeing the brand’s video in it.
  • 96% of reputable companies use LinkedIn for organic marketing. Facebook is the next most popular platform, operated by at least 82% of B2B  marketers.

Why Social Selling Is Considered The Future Of Network Marketing?

1. Expanding reach and visibility

Social media platforms have billions and billions of active users, providing network marketers an unprecedented opportunity to reach a vast global audience. By leveraging these platforms strategically, network marketers can expand their reach and increase brand visibility.

2. A targeted approach

Social selling allows network marketers to target specific demographics and audiences based on their interests, behaviours, and preferences. This targeted approach ensures that marketing efforts are directed at individuals more likely to be interested in the products or services offered.

3. Relationship-focused

Network marketing has always been about building relationships; social selling emphasises this aspect even more. By engaging in authentic conversations, providing valuable content, and addressing the needs of their audience, network marketers can foster stronger and more meaningful connections.

4. Cost-effectiveness

Social selling can be a cost-effective way to market products and services compared to traditional advertising methods. With the right content strategy and engagement tactics, network marketers can generate leads and conversions without significant advertising expenses.

Social selling allows network marketers to adapt to the changing consumer behaviour and preferences landscape. By embracing social media platforms, building genuine relationships, and providing value to their audience, network marketers can position themselves for success in the industry’s future. However, balancing online engagement and maintaining authentic human interactions is essential to achieve the best results.

Which Network Is The Best For Social Selling?

As per ONFYX, it depends. It depends on your target audience and your approach to social selling.

LinkedIn and Instagram are great platforms for interacting with customers. It offers tools for responding to customer queries, and they are very casual virtual spaces where communication becomes easy and comes naturally. Simply speaking, they’re great for building relationships. For taking your network marketing to the next level, ONFYX is the platform where you need to be. 

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