Social proof isn’t just a B2C phenomenon. How well are you using the power of “everybody else is doing it”?
November 15, 2023
By Mike Valade
Costco on a Sunday can be a contact sport, especially if you try to swim upstream by the—well anywhere actually. Should I go against the current? This was the dilemma I faced after passing on the chicken burritos moments earlier only to see two other shoppers confidently drop them into their baskets. I’d been on the fence, but now I was sure I needed to get me some burritos.
In this week’s Mastery blog, I take a look at the concept of social proof and its role in B2B sales, as opposed to my questionable buying decisions at Costco. As faithful readers of this blog already know, being—and being perceived as—a trusted advisor is critical to your success in B2B sales. While Maestro typically focuses on how you can personally cultivate this reputation, social proof is an external means to help you achieve this goal. Trust is a fundamental element of any successful B2B relationship. Social proof helps you and your company establish that trust with prospects by demonstrating that your product or service has a proven track record with real customers.
At Maestro, we teach that sales is both a science and an art. Understanding the “why,” or the psychology behind concepts, helps us develop a process that can be repeated and adjusted based on new information. The art is often the ability to think on your feet and apply your experience and talent to a given situation in the moment.
Social proof, as coined by psychologist Robert Cialdini in his ground-breaking 1984 book Influence: Science and Practice, is a psychological phenomenon that refers to people’s tendency to adopt the behavior or opinions of others when they are uncertain about what to do. It’s the concept of “safety in numbers.” In B2B sales, this means that potential buyers are more likely to trust and engage with your product or service if they see evidence that others have had positive experiences.
The psychology behind social proof is something we’re all familiar with in our daily lives. We need to make a decision, but we have limited time and limited information. Where do we turn? Well for me, when it comes to dining out while on business travel, I turn to Yelp and apply a well-honed process to find the spot I’m looking for. Traveling to Syracuse for a conference? Pop open the app, type in my location, set my $($$$) limit, change the sort to “Reviewed” instead of “Recommended” or “Rating,” and instead of getting the places spending the most time and money on promoting themselves on Yelp, I get the advice of those who have been there—literally. Pro Tip: look for places with lots of reviews (relative to the population of the area) and high ratings to eliminate the problem of small sample sizes.
So why did I just spend a paragraph on dining-out tips in a B2B sales blog? Well, other than just wanting to share my little secret for finding that spot you’ll love, it’s an everyday example that translates to how B2B buyers use social proof to short circuit the decision-making process. Sure, your level zero and level one decks speak to how your product or service will positively impact your prospect’s business and deliver the solution to their business need, but at the end of the day, these are sophisticated buyers (and diners) who want independent confirmation that you can deliver and have delivered for others.
Cialdini’s conclusion that 95% of people are imitators and only 5% are initiators, while perhaps controversial, only highlights the importance of having positive social proof in the marketplace for your product or service.
While B2C examples of social proof, like Yelp, Amazon, or Google reviews, are everywhere, the B2B space is still less developed despite the rise of sites like Gartner and G2.com. Nevertheless, social proof remains a critical part of the buying decision. As today’s business landscape grows in complexity, savvy B2B buyers are relying on the opinions and expertise of colleagues, peers, and trusted networks when researching and making purchase decisions.
In the software and SaaS space, online customer reviews are the most commonly used content to make software purchase decisions. In Gartner’s 2023 study, 86% of buyers say reviews are important or very important to evaluate software before making a purchase.
According to data compiled by LinkedIn:
If you weren’t already on the social proof train, I’m fairly certain you just jumped on board.
Given the importance of social proof in B2B sales, how can you use it to close more deals? Here are some real-world examples:
Okta used video testimonials from high-profile existing clients such as Adobe and 20th Century Fox in a successful mimic of B2C influencer marketing. One of the testimonials created as part of this program received over 200,000 views on YouTube.
In addition to the traditional customer reviews hosted on third-party websites, you can take greater control over your own social proof by incorporating quotes from existing customers into your pitch decks, website, and other sales and marketing materials (with their knowledge and permission of course). Case studies with identified clients are another highly effective form of social proof where you have control over the content while still presenting an authentic (and happy) user experience.
The power of social proof on decision-makers is unmistakable. Unfortunately, that doesn’t mean that chicken burrito I bought at Costco, just like everyone else, is actually any good.
Instead, I should have used my own Yelp method to find that great Mexican spot in Arlington. Got recommendations for delish burritos in the DMV or, better yet, social-proof success stories? Share them with us!
Reach out at mastery@maestrogroup.co for more information on training, coaching, assessments, and more.
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