Social Selling Statistics You Need to Know in 2023

Social selling presents a unique opportunity to organically engage potential buyers through various social media platforms. In this comprehensive post, we’ll delve into 50 enlightening social selling statistics to guide your approach. Whether you’re assessing the investment value of social selling or pondering the most effective platforms for maximum ROI, this compilation offers actionable insights for your business.

Social Selling Statistics

Revenue Growth and Social Selling

Organizational Growth: 61% of organizations practicing social selling report substantial revenue growth.
Closing Rates: Sales professionals employing social selling close 40-50% more new business.
Sales Channel Effectiveness: Social media ranks third among the most effective sales channels.
LinkedIn’s Impact: 78% of businesses using social selling outperform those that don’t.
Sales Quota Achievement: Businesses prioritizing social selling are 51% more likely to reach their sales quota.
LinkedIn Opportunities: Sales professionals with a strong LinkedIn social selling index have 45% more sales opportunities.

LinkedIn’s Impact on Business

Audience Conversion: Audiences exposed to brand messages on LinkedIn are six times more likely to convert.
High-Value Deals: 31% of sales reps using social selling on LinkedIn reported closing deals worth over $500,000 without in-person meetings.
Global Social Media Users: As of April 2023, social media users globally numbered 4.8 billion.
B2B Buyer Engagement: 75% of B2B buyers use social media to make buying decisions.
LinkedIn Profile Research: 42% of buyers in the U.S. and Canada research sellers by looking at their LinkedIn profiles.
Social Media vs. Search Engines: Social media surpasses search engines for brand searches, especially among Gen Z and Millennials.
APAC Buyer Preferences: In Asia Pacific, 34% of buyers prefer sellers to get in touch via social networking sites.
Social Commerce Impact: 68% of consumers made at least one purchase directly from social media in 2021.

Customer Engagement Insights

Social Shopping Trends: 98% of surveyed shoppers plan to make purchases through social shopping or influencer commerce in 2022.
Gen Z Influence: 97% of Gen Z consumers use social media as their top shopping inspiration source.
Cross-Generational Impact: 46% of Gen Xers discovered new products via social media in the last three months.
TikTok’s Influence: 55% of TikTok users research new brands and products on the platform.
Video Marketing Projections: Social media is projected to generate $1.2 trillion in transactions by 2025.

Social Selling Adoption Statistics

Leveraging Social Media for Leads

Lead Discovery: 56% of sales professionals leverage social media to discover new prospects.
Sales Enablement Content: 31% of salespeople use social media content as sales enablement content.
Lead Quality: 47% of salespeople find social media offers the highest quality leads after customer referrals.
Prospect Research: 55% of sales professionals use social media to research prospects, with LinkedIn being the most effective platform.
Preferred Outreach Methods: Buyers in the U.S. and Canada identify social networking sites as one of their top three preferred outreach methods.
B2B Marketers on LinkedIn: 89% of B2B marketers use LinkedIn to generate leads.
Social Listening Adoption: Nearly 61% of organizations have a social listening system.

Social Selling Best Practice Statistics

Effective Social Media Platforms

Top Platforms for Prospect Discovery: Facebook (75%), Instagram (51%), LinkedIn (43%), YouTube (41%), Twitter (38%), TikTok (27%).
Demographic Considerations: TikTok, Instagram, and Snapchat are ideal for reaching a younger demographic.
High Spenders on TikTok: Buyers visiting TikTok during their purchase journey claim to spend 1.6x more than those who don’t.
B2B Sales Platforms: For B2B sales, LinkedIn and Facebook are the most effective social media platforms.
LinkedIn for Business Decision-Makers: LinkedIn is crucial for B2B sales targeting business decision-makers.
B2C Sales Platforms: Facebook, Instagram, LinkedIn, YouTube, and TikTok are the top platforms for B2C sales professionals.
TikTok for U.S. and Asia: TikTok is effective for targeting customers in the U.S. and Asia.
LinkedIn for Millennials: LinkedIn is a key platform for selling to millennial professionals.
Video Marketing ROI: Instagram and YouTube present the highest ROI for video marketing.

Leveraging Features for Maximum ROI

Top Social Selling Features: Instagram Shops (22%), Facebook Shops (22%), Instagram Live Shopping (19%), Facebook Marketplace (17%), Facebook Live Shopping (14%), TikTok Shop (11%).

How to Leverage Social Media Platforms for Maximum ROI

LinkedIn Best Practices

LinkedIn Network Growth: Sellers in the U.K. exceeding their quotas by over 50% are 2.8 times more likely to expand their network on LinkedIn.
InMail Effectiveness: 65% of InMail responses arrive within 24 hours, with 90% within one week.
Optimal InMail Timing: Avoid sending InMails over the weekend for optimal response rates.
Message Length: Keep LinkedIn messages concise, with 400 words or less yielding a 22% higher response rate.

Choosing the Right Video Format

Short-Form Video Dominance: Short-form videos (TikToks, Instagram Reels, YouTube Shorts) have the biggest ROI and are more likely to go viral.
Optimal Length for Long-Form Video: 36% of video marketers suggest 3-6 minutes as the optimal length for long-form marketing videos.
Video Influence: 89% of people have been convinced to buy a product or service by watching a video.

Integration of Generative AI Tools

AI Tools in Prospect Outreach: 16% of sales professionals use generative AI tools for prospect outreach, including writing emails, social media messages, and call scripts.

Optimal Timing for Social Media Posts

Best Posting Times (U.S.):

Facebook: 9 a.m. to 12 p.m.
TikTok: 3 p.m. to 9 p.m.
Instagram: 12 p.m. to 6 p.m.
LinkedIn: 9 a.m. to 3 p.m.
YouTube: 3 p.m. to 6 p.m.
Twitter: 9 a.m. to 3 p.m.

Conclusion

Did any of these statistics surprise you? As the business landscape evolves, staying updated on social selling best practices is crucial for virtual customer connections. Explore these insights to keep your strategies ahead of the curve.This comprehensive guide provides a deep dive into social selling statistics, adoption trends, best practices, and practical tips to help you navigate the dynamic world of social media for business growth.