Understanding your buyers and competitors in the modern sales process in times of social selling

Understanding your buyers and competitors in the modern sales process in times of social selling

By Ready For Social | Mar 4, 2024

ReadyForSocial™ is the only all-in-one program that can power your entire sales team on social media. Contact us to get started!

We all know too well that the landscape of B2B buying behavior has undergone a significant transformation in recent years. As discussed in our previous blog articles, statistics reveal that a considerable portion of the decision-making process now occurs before a vendor conversation even takes place. This shift has added layers of complexity to the modern buying journey, as highlighted by Gartner’s insightful illustration of B2B buying behavior.

Amid this evolving landscape, social selling has emerged as a crucial strategy for sales professionals looking to adapt and thrive in the digital age. At the forefront of this paradigm are social selling tools. While many tools deliver selected advantages for sales teams, ReadyForSocial stands out thanks to its comprehensive feature design to empower sales teams, streamline their efforts in connecting with buyers and outpacing competitors.

In today’s article, you will learn

  • what social media offers modern sales teams.
  • the limitations of social selling monitoring.
  • how to track data effectively to drive results.
  • what a ReadyForSocial Heat Map is.
  • why ReadyForSocial features allow you to stay ahead of the curve.

What social media has to offer your sales team

Social media platforms like LinkedIn offer a vital window into potential buyers and customers, providing sellers with a rich intelligence source if harnessed effectively. With 1 billion users worldwide, LinkedIn alone presents an immense opportunity for sellers to establish meaningful connections and engage with prospects at the onset of their decision-making journey. By leveraging these platforms, sellers can secure a coveted “seat at the table,” positioning themselves as trusted advisors and influencers early in the sales cycle. According to LinkedIn‘s data, 76% of buyers are more likely to engage with sales professionals who are known industry thought leaders, emphasizing the significance of social media engagement in the modern sales process.

Despite considerable investments in training and social selling enablement, many B2B companies have yet to fully capitalize on LinkedIn’s potential. Despite its vast user base and extensive networking opportunities, there remains untapped potential for sales success on the platform. According to the platform, 80% of B2B leads sourced through social media come from LinkedIn, underscoring its significance as a pivotal platform for B2B sales. Despite this, only 51% of B2B companies currently use LinkedIn for marketing purposes.

How to overcome the limitations of social selling monitoring

Marketers and sales teams encounter a significant challenge in monitoring and measuring the activity and success of competitors on LinkedIn. This lack of visibility creates a sense of fear, uncertainty, and doubt within marketing departments, hindering organizational progress and strategic decision-making. Marketers struggle to benchmark competitors’ performance, identify industry trends, and capitalize on emerging opportunities without insights into competitors’ LinkedIn strategies.

The inability to track competitor activity additionally deprives organizations of valuable intelligence that could inform content creation, audience targeting, and overall sales and marketing strategies. As a result, businesses are left at a disadvantage, unable to effectively navigate the dynamic landscape of social selling and capitalize on potential growth opportunities.

ReadyForSocial serves as a one-stop solution, offering many benefits tailored to modern sales professionals’ needs. From prospecting to engagement and beyond, our powerful tool equips your sales teams with the resources and insights needed to navigate the complexities of the modern sales process with confidence and efficiency.

How the ReadyForSocial Heat Map can help you excel on social

One of the standout features of ReadyForSocial is its innovative heat map, a dynamic tool that helps you better understand your target audience on LinkedIn. The heat map can be created for the entire organization or individual business units.

This handy feature shows you the addressable potential of decision-makers in your target market. It reveals, for instance, which vertical or geography is the most ready to be approached on social media. The heat map determines this data by considering criteria such as selected geography (metro region, state, or country), decision-making units (organizational unit, seniority, or tenure), target accounts, or markets.

Thanks to this detail-based calculation, the heat map reveals the number of people on LinkedIn that fit your target audience exactly. It also illustrates the split between active contributors and passive content consumers, giving you pointers on who might be most receptive to your salespeople’s outreach.

Must-have analyses for your social selling success

Additionally, RFS facilitates Account-Based Marketing (ABM) analysis by identifying individuals who engage with the company’s content, whether posted on the corporate channel or by social sellers. Marketers can refine their ABM strategies and enhance their sales approach by analyzing the engagement patterns of prospects, including their position and company affiliation. This data-driven approach empowers organizations to prioritize high-value accounts and tailor their outreach efforts accordingly, maximizing the impact of their marketing initiatives.

The Power Audit feature enables marketers to benchmark their performance against competitors on LinkedIn. This analysis provides insights into the level of engagement and activity exhibited by the sales team, allowing organizations to gauge their competitive position within the industry. Marketers can refine their LinkedIn strategies and capitalize on opportunities to outperform competitors by identifying strengths and areas for improvement.

In addition to competitive benchmarking, ReadyForSocial facilitates competitor monitoring, allowing marketers to track rival companies’ positioning and content strategies on LinkedIn. This approach includes analyzing the topics and themes emphasized by competitors and the frequency and type of content posted. Marketers can glean valuable insights into market trends and customer preferences by monitoring engagement metrics and identifying key stakeholders who interact with competitor content.

ReadyForSocial is a one-stop social selling solution.

ReadyForSocial goes beyond traditional social selling tools by offering a holistic approach that combines cutting-edge technology with intuitive design. With its user-friendly interface and robust features, our platform revolutionizes how sales professionals engage with prospects, enabling them to build meaningful relationships, drive revenue growth, and stay ahead of the competition.

Do you know what your competitors do on LinkedIn or other social media platforms? Once you have the necessary knowledge, your sales professionals can adapt their strategies to stay ahead of the competition and drive success.