Social
Media has forever, fundamentally changed how business is done. Why? Business is
run by people (customers & employees) – web 2.0 and social media platforms
have created dynamic and powerful ways to access those people (e.g., human
capital). All people facing processes or components of business have the
potential to be improved with social media (if applied correctly). Every
business is different and every business will find unique ways to use SM in
ways that might add little to no value for a different organization.
What Works?
Having a strategy and applying Social Media to the
needs of your current business model. Developing a protocol for
engagement (e.g., Corporate Social Protocol) – this will help an organization
maximize the available resources and mitigate the risks of being unprepared.
What Flops?
Not having a strategy (doing it because everyone else
is). Letting the employee with the most LinkedIn connections (or friends, or
followers) lead the initiative, etc. Trying to make Social Media fit where it
clearly does not belong. Not having executive management completely dialed in
on the risks and rewards. Not having a team in place to respond to social media
attacks (i.e. Dominos) – I call this the Social Media Disaster Response Team.
What's the Next Big Thing?
Freesourcing is the “Next Big Thing.” It is the next
iteration in business sourcing channels that have evolved overtime as the
market landscape has changed (Outsourcing, Crowdsourcing, Homesourcing, etc.).
As a concept and process, it is gaining rapid traction and it being used by
businesses both big and small. It allows organizations to create incredible
efficiencies in people facing processes where it was never possible before.
Whether it is through direct sales, vendor management, talent acquisition,
research, communications, resource allocation, etc. “Freesourcing” Social Media
and Web 2.0 technologies is not only be necessary for current businesses to
survive, but it plays an integral role in the development of the new “thin”
companies that emerge as “green shoots” in what will be a completely different
economic landscape.
How do I use Social
Media to Increase Business?
Below
are 8 Tips from on how to use social media to sell more effectively. You
can use these tips to:
·
Uncover new, qualified sales leads
·
Turn cold-calls into warm hand-shakes
·
Build competitive advantages in RFP games
·
Network to shorten sales cycles and close bigger deals
·
Create organic inbound leads
·
Deliver powerful brand messaging 24/7
1. Build a complete, strategic profile (LinkedIn
and Twitter)– Remember that ALL of your prospects are researching you (and
comparing you to your competition) before you even walk in the door.
2. Via LinkedIn and connect to your customers –
they are connected to your prospects!
3. Via LinkedIn get recommendations from your
clients. When you do, it not only updates your network but updates your
customers networks too. This is free advertising.
4.
Join LinkedIn groups relevant to your industry. This does several things
for you:
- Gives you visibility beyond your network size
- Makes it easier for people to find you
- Gives you the ability to communicate directly (for free) with other group members even if you are not in 1, 2, or 3rd degree
- Allows you to track AND follow conversations that could help you win deals – LI just added tracking features to send conversation updates directly to your email
6. Learn Boolean and set up and save searches on LinkedIn. Through this, you have up to 3 free saved searches available to you. If you are a territory manager selling software solutions responsible for a certain market, set up a search such as: (CIO OR “Chief Information Officer”) AND Philadelphia. You will be notified every week when your new prospects join LinkedIn
7. Use Twitter’s TweetDeck to monitor activity in your marketplace. Set up search alerts to watch your competitors, prospects, clients, and fellow employees. Use Twitter direct responses to quickly react to a prospect who is complaining about their current vendor.
8. Research you prospects. Never walk into a cold call or meeting without reading everything you can about the potential buyer. You maybe you went to high school together or both love yoga. It could be the data point that gets you the deal!
The Freesource Agency
The Freesource Agency is the company that introduced “freesourcing” to the world. A consulting and sales training company led by seasoned technologist and entrepreneur, Nathan Egan, the Freesource Agency helps organizations leverage free, web-based Social Media + Web 2.0 platforms. They design and deliver customized on-site and virtual workshops that specifically address each client’s unique sales model and target markets.
Nathan Egan
Nathan Egan is the Founder and Managing Partner of the Freesource Agency, LLC. Prior to starting Freesource Agency, Nathan worked at LinkedIn and has wonderful insight into the world of social media networking. Nathan earned his MBA with a focus on Business Technology Optimization from Villanova University and his Bachelor of Science from the School of Hotel Administration at Cornell University.
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