We provide a fair bit of training around using Social Media for selling. Most often we are asked “how do I turn friends into clients?” and we’ve seen this question posted on other blogs, by some prominent bloggers. This question has been posed by many. Given the many workshops and private consultations we’ve run, we’ve developed the Horizontal Hourglass Theory and believe that actually closing the deal within Social Media tools and services is the exception, not the rule.

Why then? It’s all about human behaviour and Video Conferencing is the prime indicator. If video phones were so desired and the market really wanted them, we’d all have them on our walls at home or office desks by now. If we really, as consumers, wanted them. We would have quickly adopted those clunky early versions and the demand would’ve driven technical innovation. But it hasn’t. Perhaps Cisco’s Telepresence has the potential. Perhaps. Today, the costs remain prohibitive even to 97% of businesses.

While Social Media is changing our society and enabling greater communication than ever before, we still crave physical contact. To clearly see facial expressions and full body language; all vital parts of building rapport and trust. This becomes obvious when even the Social Media space is filled with all kinds of events that bring people physically together in the same space. Even that Microblogging wonder Twitter has a word for Face-2-Face meetings - Tweetups. Then there’s Podcamps to record podcasts as groups, and SobCon and Unconferences along with the other Social Media events, conferences, gatherings and dinners.

So it is with the sales function. Social Media tools enable you to prospect in new ways, then connect initially, using Social Media tools to provide “evidence” of who you are and progress a deal to the point where it’s time to meet. And meeting is and will likely always be, vital. After the deal is closed and the delivery commences, Social Media comes back into play in helping work through the delivery and after delivery to stay connected with your clients increasing client loyalty. Thus the Horizontal Hourglass Theory (which is a bit cheeky, but we like it anyway.) So while Social Networking and Social Media may not actually “close” the deal, it can certainly help you find more prospects, get closer to the deal point for less cost (reducing your COGS on the balance sheet) and improve loyalty. That’s still bottom line positive impact.

(Author: Giles Crouch, Managing Partner)