16 Numbers you need to know for Social Selling in 2023
What are the top opportunities for social selling in 2023?
Based on the survey results of corporate, leaders, and social sellers globally we’ve drawn out the top trends shaping the future of social selling.
- Onboarding 💫 - Measuring impact and creating experiences
- Happiness 🌻 - Tracking and improving
- Field Retention 😎 - Top reasons for churn and how to reduce churn
Happiness? Not the first thing you think about when planning for 2023 and beyond? (Especially not when you’re navigating an economic downturn).
This year, more than ever, people are choosing social selling because they’re looking for a way to make money. But, they’ll end up staying because of the community that makes them feel like they belong.
In the face of an economic downturn, after the stresses of the unprecedented covid-19 pandemic, the pursuit of happiness is more important than ever.
Having a thriving business is about way more than money. Freedom, flexibility, authenticity, self-improvement and community are all fundamental to living a balanced fulfilling life. They’re now non-negotiable for social sellers.
Outdated onboarding programs
- 58% of field responders recommend new sellers don’t start with corporate onboarding
- Corporate Agrees
- 46% of corporate think the field is unsatisfied with current onboarding programs
Who is happy?
- 85% of sellers are happy
- 23% of corporate have metrics to track seller’s happiness
- Those who have churned and are not happy are not accounted for.
- Corporate can’t track who is likely to churn.
- 83% of millennials say work-life balance is the most important factor when considering a potential job.*
- Happy salespeople produce 37% greater sales.*
- Employers who increase their employees’ engagement by 10% can boost profits by $2,400 per employee a year.*
- Actively disengaged workers cost the U.S. upwards of $550 billion in lost productivity per year.*
Lorman Statistics on Employee Engagement & Happiness
Reason Sellers Quit in the first 30 days
- #1 Not knowing what to do
- #2 Haven’t made a sale
- 72% of sellers say converting connections into customers is their biggest challenge
Most Important Skill
- 46% of sellers say Consistency is the most important skill
- 44% of sellers say Relationship Building is the most important skill
Top Priority for 2023
- 36% of corporate say Field Retention is their top priority for 2023
- 34% of corporate say Revenue Growth is their top priority for 2023
- Only of corporate 50% have High visibility on sales, high visibility on wellbeing