CryptoCurrency : What is Social Selling?
Social selling is the art of developing relationships or using social networks to locate and interact directly with prospects. Traditionally called “direct selling”, social selling benefits over 120 million independent sellers worldwide that earn commissions from companies they represent through single or multi-level sales models. Perhaps the earliest form of social selling was in the early 1900’s, when Brands empowered independent reps (“Sellers”) to sell their wares door to door, with a focus on one-to-one demonstrations. The model has evolved over time and exponentiated in recent years with the adoption of social media and expanding gig economy. Today’s social seller can market limitlessly through online avenues, especially with the rise of social media. The industry is valued at $180 Billion, growing 10% annually, and accelerating to exceed $1 Trillion in 10 years. Social selling has been walled off from broader retail due to high barriers to entry, which has allowed giants to corner the market by creating silos to insulate sellers. The result is an industry that is highly centralized and extremely captive for sellers.
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