How banks got it wrong – now Social Selling fixes their problems

We will be the last generation to use shopfronts. 

  • The vast majority of businesses soon will be virtual and online. 
  • It’s not a matter of if, say the gurus, it’s just a matter of when. 
  • It’s also a societal problem. Church attendance has seen a 90% drop across many denominations. 
  • Confidence and trust with western world governments and many other institutions are at an all-time low. 
  • Now 92% of those surveyed actively try not to see any advertising – ever. Paid marketing is fracturing the ROI is falling. 

Banks are living within this whirlpool and found it difficult going.

Australia held a Banking Royal Commission. 

The report shattered trust and community within banks.

The findings summarised as 

  • Failures in governance, risk management, systems and processes that had turned banks into sales machines at the cost of their community and peoples trust were lost
  • The Royal Commission public hearings were horrific.
  • The bank’s profits were more important than people.
  • An ongoing sore that years later many recommendations are not yet law continues to weep.

Against this backdrop, banks have actioned 

  • branch closures,
  • staffing level reductions severing local connections
  • resulting in further loss of trust within the local community. 

They are no longer the trusted source – no longer local and community builders.

Social Selling methodology (#socialselling) provides the roadmap for how banks can succeed today. 

  • The French online-only market leading mattress retailer has never paid for any advertising. It invested the savings from advertising from day one into better products, services and community. It focused on telling a bigger story than just their products and services that builds community and word of mouth with organic posts across the top five social media platforms – all day every day. It paid off. 
  • For hundreds of thousands of years, we have barely changed. Yes, technology has changed but people have barely changed. 
  • We seek community, people to people contact – even online. 
  • That’s one of the reasons why Social Selling has such great results across the world in every industry. 
  • At its core – Social Selling is about community building – personal accountability, building trust and solutions focussed at both a granular and global level. 
  • In this world, your ideal new buyers – walk towards your business – rather than you and your team chasing them. 

Enterprise businesses like Google, SAP and others have found great results from this methodology and technology. 

It is all about engagement and local – yet operating at a global or national level. 

There are four best practice steps vital for your success. 

  • Train your team first. 
  •  WHY: Why should new buyers only buy from your business rather than any of its competitors – yes, it’s tough. 
  • Share of Voice ( quantity of posts) and Engagement, across the top five social media platforms all day and every day. 

Now it’s possible to scale at a granular(local) and national |global level with Social Selling. 

This is how;

  • With the agreement, link your employee’s social media accounts under a single dashboard. 
  • Allowing publishing centrally to all social media accounts business, branded and supporting staff accounts. 
  • It’s as simple as the right hashtags with posts – #queenstown, #cairns, #brighton and thousands of other locations. 

What works is on message content 

  • that helps people make sense of a rapidly changing world, 
  • your distinct point of view around these issues,
  • positive, yet baked in reality – vision of the world. 
  • and how your business or organisation solves their potential problems

The analytics are superb in delivering continuous improvement cycles. 

Look at the average results below. 

  • Engagement + conversations average lift is 1440x. 
  • Training your sales team for Social Selling: ‘typically drives a 30% lift in revenue + 40% reduction in the length of sales cycles. A 12-week zoom training typically sees positive financial results from week 3 Tim Hughes DLA Ignite.
  • 5x ROI: every dollar invested in social selling returns $5 on average 
  • 78% of Social Sellers outsell their peers who do not use Social Selling.
  • 2x lift in lead generation compared to Google paid advertising services. 
  • 3x lift in sales conversions from Charlies work
  • 3x shorter sales cycle.

We now live in a Social Selling Economy. 

It’s now time to join. 

Accelerate provides a subscription strategy and publishing service that schedules and strategically distributes the most engaging content across all top five social media platforms all day, every day, to achieve the right level of share of voice and engagement, maximising influence, revenue and market dominance.

All for one low monthly price – includes monthly strategy and content generation.

Our prices

We have collated a basket of competitors who provide public price lists with a similar range of services to us from across the world. Our prices are 1/2 the average price from this basket.

Our price guarantee 

If you find a professional competitor’s, lower price (including GST) for the same number of posts + services, we will beat it by 15%.

Click here to learn more and book a 1-on-1 demo 

#socialselling #digitalselling #leadgeneration