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50 Social Selling Statistics You Need To Know In 2024

January 21, 2024 (3mo ago)

Social selling has become crucial for sales professionals, with 78% of salespeople engaged in social selling outselling their peers who do not use social media, and companies that have adopted social selling practices seeing a 16% growth in revenue. The article provides 50 social selling statistics that sales professionals need to know in 2024.

50 Social Selling Statistics You Need to Know in 2024

Social selling, the process of leveraging social networks to find and engage with prospects, has become an integral part of the modern sales strategy. As we delve into 2024, understanding the landscape of social selling is crucial for sales professionals looking to maximize their effectiveness. Here are 50 social selling statistics that you need to know this year.

The Growing Importance of Social Selling

  1. 78% of salespeople engaged in social selling are outselling their peers who are not using social media. (Sales Benchmark Index)
  2. Companies that have adopted social selling practices have seen a 16% growth in revenue compared to those that haven't. (SuperOffice)
  3. 31% of B2B professionals say that social selling has allowed them to build deeper relationships with their clients. (LinkedIn)
  4. 62% of sales professionals report that social selling has become more important than direct sales methods. (OptinMonster)

Social Selling and Sales Performance

  1. Sales reps who use social selling are 50% more likely to meet or exceed their sales quota. (LinkedIn)
  2. 45% of top salespeople say they consistently share content with their network, contributing to their social selling success. (Forbes)
  3. Sales professionals who excel at social selling have 45% more sales opportunities than those who do not. (LinkedIn)
  4. 39% of B2B professionals have closed between two to five deals as a result of social selling. (LinkedIn)

Social Media Platforms and Social Selling

  1. LinkedIn is the most preferred platform for social selling, with 84% of B2B salespeople utilizing it to engage with prospects. (LinkedIn)
  2. 55% of B2B buyers search for information on social media. (IBM)
  3. Twitter is used by 40% of salespeople for social selling activities. (Sales Benchmark Index)
  4. Facebook is leveraged by 74% of salespeople to sell products and services. (HubSpot)
  5. Instagram has seen a 70% increase in use by sales professionals for social selling in the past year. (Social Media Today)

The Impact of Content on Social Selling

  1. 65% of buyers feel that the vendor's content has a significant impact on their final purchase decision. (DemandGen Report)
  2. Sales reps who share content with their prospects and customers report a 10% higher win rate. (LinkedIn)
  3. 82% of prospects value content tailored to their specific industry needs. (LinkedIn)
  4. 71% of sales professionals believe that having a strategic approach to content distribution is key for successful social selling. (CSO Insights)

Social Selling and Lead Generation

  1. 90% of top-performing salespeople use social selling tools for lead development. (LinkedIn)
  2. Social selling generates 45% more sales opportunities than traditional prospecting. (LinkedIn)
  3. 53% of salespeople have used social selling to generate leads in the past year. (OptinMonster)
  4. 72% of sales professionals feel that they can build stronger relationships with their leads through social selling. (LinkedIn)

Social Selling and Decision Makers

  1. 92% of B2B buyers are willing to engage with a sales professional who is a known industry thought leader. (LinkedIn)
  2. 84% of C-level executives use social media to make purchasing decisions. (IDC)
  3. 75% of B2B buyers and 84% of C-suite executives use contacts and information from social networks as part of their purchase process. (LinkedIn)
  4. Decision-makers in B2B companies are 5 times more likely to engage with a sales professional who provides new insights about their business or industry. (LinkedIn)

Social Selling Training and Adoption

  1. 61% of organizations engaged in social selling report a positive impact on revenue growth. (CSO Insights)
  2. Only 31% of sales organizations have a formal social selling program. (CSO Insights)
  3. Sales professionals who receive formal social selling training improve their sales performance by 38%. (Salesforce)
  4. 70% of sales professionals are self-taught in social selling techniques. (LinkedIn)
  5. Companies with consistent social selling processes are 40% more likely to hit revenue goals than non-social sellers. (Sales Benchmark Index)

Social Selling and Customer Retention

  1. 63% of salespeople who use social selling report an increase in customer retention and loyalty. (LinkedIn)
  2. 53% of customer loyalty is driven by a salesperson's ability to deliver unique insight, often through social selling. (The Brevet Group)
  3. Customers acquired through social selling have a 25% higher lifetime value than those acquired through traditional means. (KISSmetrics)

The Role of Mobile in Social Selling

  1. 91% of social media users access their social channels via mobile devices. (Pew Research Center)
  2. Sales professionals who integrate mobile social selling into their routine have a 70% higher likelihood of achieving their sales quota. (Innoppl Technologies)
  3. 80% of top salespeople describe mobile as "critical" to their sales success. (Salesforce)

Social Selling Across Industries

  1. The technology industry has the highest adoption of social selling, with 96% of sales professionals using it. (LinkedIn)
  2. In the financial services industry, 61% of salespeople engage in social selling. (LinkedIn)
  3. The pharmaceutical industry has seen a 45% increase in social selling adoption over the last two years. (LinkedIn)
  4. 77% of B2B salespeople in the retail industry use social selling to surpass competitors. (LinkedIn)

Social Selling and the Sales Cycle

  1. Social selling can lead to a shorter sales cycle, with deals closing 20% faster on average. (Aberdeen Group)
  2. B2B sales cycles that incorporate social selling are 30% shorter than those that do not. (LinkedIn)
  3. 31% of B2B salespeople have noticed a decrease in the length of their sales cycle since adopting social selling. (LinkedIn)

Social Selling and ROI

  1. For every $1 invested in social selling, the ROI is $5.20, making it one of the most cost-effective sales strategies. (MarketingProfs)
  2. 54% of salespeople who use social selling can track their social selling efforts back to at least one closed deal. (OptinMonster)
  3. 24% of companies that use social selling report a significant impact on their deal sizes. (LinkedIn)

Social Selling and the Future

  1. 89% of sales professionals believe that social selling will become the predominant way to engage with prospects within the next few years. (LinkedIn)
  2. Artificial Intelligence (AI) in social selling is expected to rise by 139% in the next three years, allowing for more personalized and efficient engagement. (Salesforce)
  3. 73% of millennials involved in B2B purchasing decisions are looking for a sales professional who understands their needs via social media. (Mercuri International)
  4. The use of video content in social selling is projected to grow by 180% in the next two years. (Cisco)

As these statistics show, social selling is not only here to stay but is also evolving rapidly. Sales professionals must adapt to the changing landscape, leveraging new platforms, tools, and techniques to stay competitive. With the right approach, social selling can help build stronger relationships, generate leads, shorten sales cycles, and ultimately drive revenue growth.