How Aligning Your Social Strategies Drives Adoption and Win Rates
Feb 07 2019
Over the past few weeks, I shared some of our latest research on social selling. First, I shared about the growing social selling adoption and how this trend correlates with sales performance. Then, we discussed the current state of social strategies and their alignment across marketing and sales.
Today, let’s discuss how this alignment of social selling strategies impacts your adoption rates.
To get all of you on the same page, let’s quickly recap what we learned so far: We learned that the adoption rates of social selling tools and techniques are increasing. For instance, the group of organizations that reported social selling adoption rates between 51% and 75% almost doubled within one year. And the group with very low adoption rates decreased. That’s all good news, because we saw again in the 2018 data that higher social selling adoption rates correlate with higher win rates.
That’s why we looked at critical success factors to drive this adoption rate and discussed, among other things, the alignment of your social strategies across marketing and sales.
We learned that social strategies formally aligned between marketing and sales correlate to win rate increases of 9.3%. And the costs of doing nothing are worse, as win rates decreased by 10.7% in the case of social strategies that were not aligned at all.
Today, we learn that aligning your social strategies is the key prerequisite to driving social selling adoption, which correlates to increasing win rates.
Let’s look at some highly interesting findings:
We have already seen that adoption rates have to be at least higher than 25% to achieve some performance gains. And we also saw that to achieve significantly better results, adoption rates have to be in the range between 76% and 90%.
If we add the success criteria of aligned social strategies to the equation, we see how important this alignment is to actually making higher adoption rates possible and to achieving better performance.
- Formally aligning social strategies drives social selling adoption rates and performance. Two-thirds of organizations (64.3%) with formally aligned social strategies achieved adoption rates greater than 51%, versus the study’s average, where only 38.2% of organizations achieved those levels of social selling adoption. So, aligning your social strategies is a key prerequisite and a critical success factor at the same time when it comes to driving social selling adoption and sales performance.
- Not aligning social strategies at all leads to low social selling adoption rates and performance way below average. It’s as simple as that. Almost one-third of organizations (30.4%) have no aligned social strategies. And 75% of those organizations reported a social selling adoption rate below 25%. These organizations also ended up with win rates of 44.2%, as we discussed last time (for details, click here), which is -5.3 points below average and an actual decrease of minus 10.7%.
Effective sales enablement leaders know that there is no way NOT to align social strategies across marketing and sales if you want to leverage the potential of a successful social selling initiative—simply because this alignment is a prerequisite and a success factor at the same time.
Effective sales enablement leaders also know that social is just one communication channel out of many that modern sellers are required to master based on their customers’ preferences. Therefore, it’s not an “either, or”; instead, it’s a matter of successful integration.
Questions for you:
- What’s the state of your social strategy alignment process between marketing and sales?
- What did you learn so far from implementing social selling?
- How do you prevent your sales force from applying bad social practices?
Related blog posts:
- Social selling adoption is growing. What about results?
- For social selling, aligning sales and marketing is key
And, as always, we invite you to participate in our most recent survey – The World-Class Sales Practices Study.