Social media data has changed the way sales world operates favoring buyers a lot more. Buyers can now very quickly look up crowd sourced web and social media content to make decisions, even though the decisions may be based on a combination of praise, criticism, half-truth and or lies about a company’s products and services. So given all this data that is freely available to buyers, how can sellers use it to their advantage to close sales. (Image credit: Flickr)
The most effective way for sellers to use social media data is to analyze buyer behavior to help them close deals faster. The challenge lies in data management given the complexity of information and information sources as well as time. Given the way the web moves, sales people need to act on buyer behavior and data to empower themselves quickly to be able to close deals.
The following 4 steps will help mitigate the challenges being faced in terms of time and data management.
1. Organize information:
All prospect information needs to be available and accessible around one system that is continually kept up to date.
That way sales people can easily locate, update and act on real-time behavior and predict future behavior based on past experiences.
2. Capture data and social media data:
Social data needs to be incorporated into all other sales intelligence information on customers, markets and prospects in order to form a 360 degree view for each sales opportunity.
3. Collaborate and share social media data:
Collaboration between a business’s departments is crucial since contact points for prospects and customers could with just about any area in the business. Sharing prospect interaction and details between departments will allow for more data to be collated and more potential sales if acted upon.
4. Optimize messaging based on data:
While data collection is important it is also important to refine the messages and strategies based on behaviors and information learned by the sales people. Having data milestones for each prospect in place will help with a more accurate sales forecasts. Optimization will also help sales managers determine whether extra touch points are needed to help a sale along.
Social media data is only potentially useful data to help close a deal. However when a sales team or person is informed of buying behavior and leverages it to close deals it becomes profitable for the business. Being able to analyze, understand and act on buyer behavior data will serve the purpose of closing new sales and strengthening existing customer relationships. However it is essential to have the systems in place to leverage social media data.