Build your professional network on facebook via our app Go to app
 
 1 of 5 in Topic  Next >>
Topic : Social Media & Branding
  Rate : 
Associated with other topics :
 
Created by : Ramdas Pawar, Sales/BD Manager, Flex  | 06 17 2009 08:31:57 +0000
Industry : IT ServicesFunctional Area : Consumer Sales(Sales & Marketing)
Activity:  433 views;  last activity : 07 06 2010 20:18:09 +0000

As we can see, social media and online communities have exploded a lot over the past few years, but most B2B marketers still haven't figured out how social media can be implemented and monetized as part of their overall marketing strategies. With stable revenue sources already in place, insignificant budgets for developing and building new (and untested) marketing tools, and little data on the ROI of social media,B2B marketers are sticking with traditional online models (including lead generation and banner advertising) and resisting the inclusion of social media tools on their sites and in their campaigns.

So I want to know whether social media can be used for shortening sales cycles or not?

 
 Refer 125
Share
 
 
  Rate : 
 
 
Yes Vs No
7
 
 
 
 
4
6
6
Support   Support
Top Argument
1
0

Dear Viktor,

Sales is all about creating opportunities & exploring new avenues to stay ahead, I agree with your MAN terminology (Money, Autority, Need). This is what a salesmen tries to find whether it is offline or online. Social media definitely helps bcoz people like me want to sell, not spend hours managing and tracking the sales pipeline. But the implementation of social media within sales processes is actually saving time by cutting down on data management and helping me to complete a sale. By making the process collaborative, social media is actual mirroring the social nature of sales activities from generating leads to closing a deal. Generating leads is a fairly random process, driven by luck and word of mouth. Social media can turns this process into a science, pinpointing what to sell to specific potential prospects based on the buying patterns of similar customers, and providing a mashup of knowledge within the internet.

CRM applications build on this sites can help to reduce the sales cycle. I am sure social sites will be having that which in turn can be a revenue generator for the social sites & the company who is paying them to acccess it.


By Mohit Aggarwal, Sales/BD Manager, Oracle  07 09 2009 11:26:01 +0000
 
Top Argument
2
0

Dhiraj, how would this impact the sales cycle?

The employees that you target may not have the decision making capacity.

Remember MAN (Money, Authority, Need)

It is extremely difficult, almost impossible,  to reach the MAN (person who can take a call on the purchase of the product/service in question) through social media.


By Viktor Stephen, COO, I Entrepreneur  07 08 2009 15:12:56 +0000
0
0

Viktor,

Salescult is a job career portal powered by TooStep, with that what I understand is TooStep might be providing a CRM dashboard to Salescult which will tell user preferences & their behavior to them. With that kind of Dashboard, it will be easy for Salescult to put targeted jobs or to reach particular user set which in turn will help in right conversion & reduce their sales cycle.

But still the onus of user engagement will be there on Salescult which will help them to understand the user preferences better......

I will share some dashboard images with you later.....


By Mohit Aggarwal, Sales/BD Manager, Oracle  | 07 10 2009 12:40:53 +0000
0
1

Viktor,

I don't have the Use Case as such but it should be something like the career site of this platform e.g. Salescult

I think TooStep has given this facility to some recruitment firms. I hope this should be clear..........

@Makrand - Good point, the e-form thing can also be done but it should not be cumbersome & integrated pretty well....


By Mohit Aggarwal, Sales/BD Manager, Oracle  | 07 09 2009 14:46:04 +0000
1
1

Yes, definitely. When using social we are involving the people supposedly propects to talk about your solution, however when it comes to influencing B2B we tend to forget that companies are also made of people. So if we can find out the target organizations employees internet usage patterns, we can make sure that the populace could be targeted in social media pattern as well.............


By Dhiraj Wohra, Dy. Manager, Centum Learning Ltd  | 07 01 2009 18:48:36 +0000
0
0

It can work....

Sales departments should have been taking advantage of these technologies long ago. As a matter of fact, Sales and Marketing should be sharing these internal solutions and collaborating much more.

Social media can level the playing field for businesses, however, as Mr. Makrand astutely points out, one should definitely use this tools to create buzz about your product / solution that prospective users just can't live without. I believe the key is to successfully integrating social media with conventional marketing at every stage of the buying process which in turn will help the sales process. However companies & salesmen still have a long way to go when it comes to using social media to improve knowledge management and sales in the sales department.......


By Mohit Aggarwal, Sales/BD Manager, Oracle  | 07 01 2009 10:43:48 +0000
0
0

By implementing social tools on a site, the quantity, quality, and type of user data can be collected and analyzed and we can gain access to previously unavailable information that can guide us in targeting, customizing and delivering content delivered to users right as they realize that what we have delivered is exactly what they need.


By Ramdas Pawar, Sales/BD Manager, Flex  | 06 17 2009 08:31:57 +0000
0
0

Fine, Mohit. Please do that. But the point remains that not every social media site would share data with you. And a lot would depend on the analytical CRM process followed and analytics deployed.


By Viktor Stephen, COO, I Entrepreneur  | 07 10 2009 14:22:26 +0000
1
0

Please elaborate. What has salescult got to do with CRM? How many users of Toosteps do you thing would have visited salescult?

What data is salescult capturing so as to shorten its sales cycle?


By Viktor Stephen, COO, I Entrepreneur  | 07 09 2009 21:13:52 +0000
1
0

Going a little further than what Viktor has asked, you may actually make out a eform kind of thing and you may even get your networking friends to fill it out for you. But would you completely believe in what they have experienced?? I would discount all the results by at least 50 tp 60%.

It may so happen that what your esocial network has given you by way of results, you will most definitely find a huge variance in the research that you would do with people on ground!! This is something which warns me of being more careful on social platforms! Thats the only reason why I have always maintained that you may want to support a wave for popularising your brand through social platforms is fine but where can you physically say that yes all respondents of my eform have been ACTUAL users of the brand and are narrating REAL TIME experience???? Thats the worry.


By Makrand Bhave, Marketing & MICE, WIZCRAFT International  | 07 09 2009 12:23:28 +0000
1
0

That's exactly the point I'm trying to make, Mohit. How do you impliment CRM on a social site like Facebook, LinkedIn or Toostep? 

Do you have a use case for implementing CRM over a social media site?


By Viktor Stephen, COO, I Entrepreneur  | 07 09 2009 12:13:00 +0000
2
0

Social Media is a brilliant tool to spread the word through effective WOMMA! But I do not believe that it shortens the Sales process!

What effects a sale is the product, its appeal, utility and ultimately its PRICING! Thats where the buck stops! Now in Social media you may induce, tempt people to USE the product at least once but do they actually do it? DO they simply go to a shop and LOOK the product over, and then let their intelligence take over and TALK about it??? You may depend on Social media to get FEEDBACk on products and what it needs to be to be BOUGHT! Beyond that I feel itsd not the medium to SELL!

Thanks for the referral!


By Makrand Bhave, Marketing & MICE, WIZCRAFT International  | 06 19 2009 04:19:03 +0000
JobSite for Investment Banking Professionals
  • Create a confidential Career Profile and Resume/C.V. online
  • Get advice for planning their career and for marketing of experience and skills
  • Maximize awareness of and access to the best career opportunities
Viewers also viewed
Today its all about creating customer loyalty through different mediums, and marketers are...
 
743 referals 16 arguments, 152 views
We know evryone wants to use the social media for markteting their products. We expect a lot...
 
979 referals 7 votes, 248 views
As we know, era of postal mails was engulfed by emails. In marketing perspective now the combat...
 
435 referals 9 arguments, 415 views
more...  
Recent Knowledge (87)
Selling souls and loosing once culture vs Being what we are and making employer pay for the...
 
2327 referals 47 arguments, 652 views
It is said that late on set of summer and early arrival of monsoon in most of the parts has led...
 
1761 referals 21 arguments, 178 views
Absolutely NO vs It is justified
 
140 referals 11 arguments, 131 views
more...  
More From Author
No dominating will not help you to lead the team. This will create misunderstanding among the team will will decrease the performance. So need to be a leader but not dominating....
Yes it should be but we are not strong enough either in technology or the political system. So need to build ourselves the required qualities before curbing them !!!
Yes sales is more challenging than marketing. The most critical factor is convincing the clients....
more...