This is an old and yet simple and powerful case study showing the impact that social selling can have on today’s businesses.
In 2013, the Aberdeen Group published research comparing the sales performance of organizations based on their social selling maturity.
‘Best-in-Class’ social selling companies saw a 16.7% year-on-year revenue increase, compared with just 4.1% for ‘Industry Average’ companies and a decrease of 8.7% for ‘Laggards’.
So everyone can understand the revenue differences between best in class and others, let’s consider 3 companies in the UAE. All things being equal, they have the same size, same industry, etc. except the way they use social selling in their sales strategy.
They all generate 10 million AED in revenue this year.
Next year’s expected revenue from each company is:
- 11,67 Million AED for the ‘Best-in-Class’ social selling company
- 10,41 Million AED for the ‘Industry average’ company
- 9,13 Million AED for the ‘Laggards’ company
12% is the minimum revenue difference between a company with a best in class social selling program and other companies in the industry.
It is 1.2 Million AED in extra revenue collected by the ‘Best in class’ social selling company.