Let’s Make a (Better) Deal With Social Selling
With social selling, your sales strategy can avoid the dreaded Zonk. Discover the best traits to make better deals in this post from LinkedIn Sales Solutions.
June 5, 2014
How can you tell if your sales strategy is legitimate – or if it’s worthy of a "Zonk?” The contestants on Let's Make a Deal often do crazy things to earn cash and prizes. Thankfully, social sellers don't need to wear funny outfits or play games of chance to achieve success -- it all comes down to the right set of tools and techniques.
Deal-making on Let’s Make a Deal is fast-paced and driven by pressure. This doesn’t need to be the case with social selling.
Check out the various forms of deals from the show, and how they can translate to better social selling for you and your team:
The Quickie Deal
In the current CBS version of the show, host Wayne Brady roams through the audience to make quick deals with random contestants. These Quickie Deals are often made based on items that the contestant is carrying, or if a certain collection of numbers appears on a contestant’s driver’s license. CBS teases these deals on the show’s Twitter account, so audience members are aware of the deals before the show.
For social sellers, the Quickie Deals generally don’t result in large returns – but they are still important to building relationships with prospects. Landing a Quickie Deal requires some initial commitments and actions, which help to set the stage for larger deals later:
- Showcasing your personal brand with a professional profile
- Using TeamLink to connect with people who align with your professional objectives
- Researching companies and contacts for prospect intelligence
- Sharing thoughts and insights in groups
The Big Deal
At the end of each show, the day’s biggest winner is invited to play for the Big Deal. This is the famous “three-door” situation, where three prizes of varying value are hidden behind the doors. If contestants are willing to gamble their winnings, they are then tasked with picking a door. Once the door is opened, contestants win the prize revealed – in exchange for their previous winnings.
In social selling, the big deals rely on factors that have the most influence in closing. If sellers don’t contribute to these concepts during the selling process, their efforts will likely fall flat. Keep these points in mind as you seek to gain influence in the social sphere:
- Authenticity. Online persona should exist as open books to a seller’s thoughts and perspective. Sales and customer service are synonymous in social media – your message should be customer-focused and direct.
- Research. Look for the factors that can ensure your outreach efforts won’t be fruitless. It’s not a game of chance if you put in effort to understand the prospect’s desires, concerns, pain points and interests.
- Storytelling. You’re not just selling a product/service – you’re also telling a story. Social connections manifest themselves over time – the first connection merely serves as a prologue to the eventual story. Essential information can be woven into the story, ensuring the process stays on topic.
The Super Deal
Occurring just a handful of times through the show’s entire lifespan, this is the ultimate battle of risk verses reward. If a Big Deal contestant successfully won the large prize, they were given another choice: risk everything for a large cash payout, or walk away with their current winnings. In the current CBS version, Super Deal contestants could win $50,000 for choosing the right envelope, or far lower cash prizes in other envelopes.
In the selling world, the Super Deal presents a similar dilemma – does the seller proceed alone, or bring the whole team in to close the deal? If the larger team is brought in, you’ll need to make sure they are working seamlessly to continue the existing relationship with the prospect.
Messaging usage balance can be tracked with the Usage Reporting tool in LinkedIn Sales Navigator. Use the current balance from the individual seller to align new team members accordingly. Landing the Super Deal takes significant effort – but the results are often worthwhile.
Dealmaking on the show is usually a funny business -- but social selling is no joke. Land the Big and Super Deal with these tips, and follow @LinkedInSelling for more social selling insights.