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Social Media = Recession?

Everywhere we turn; the internet, TV, and Radio, we are bombarded with information about the global financial meltdown. The stories are all too familiar, families losing their homes, millions of lost jobs and extreme unemployment.

The real cause? FACEBOOK!

YES, I SAID IT! If companies calculate the amount of time employees spend updating the world about their latest blog post, their turkey sandwich, the funny video on Youtube, and groups dedicated to fantasy football, many companies (other than AIG and Lehman) could have avoided this terrible disaster.

Let us look at a company with 1,000 employees paying an average salary of $50,000/employee. Assume each employee spends 30 minutes a day on Facebook (a VERY conservative number).

· 1,000 Employees X ½ hour/day on FB = 500 Work Lost Work Hours/day

· 2,500 Lost Work hours/week

· average hourly rate of $26/hour

· $65,000/week lost to FB

· $260,000/month lost to FB

· $3,200,000/year in Lost Hourly Wages due to Facebook

· For a sales person this equals 96 contacts per year

· 96 connects = 20 proposals

· 20 proposals = 5-8 deals!!

This idea came up while thinking about the small distractions in the life of a sales person. These distractions drastically reduce selling time. Factoring in administrative activities, customer service, planning, travel, quotes, order processing and prospecting; it is critical for sales reps to stay focused. Eliminating 30 minutes of Facebook time everyday frees up 2.5 hours a week…all of which could be dedicated to selling.

The average yield on 30 additional minutes per day dedicated to selling? Two (2) new prospects or customers this week, 8 more this month and 96 new meetings/contacts this year, leading to 5-8 new customers for that rep.  Depending on transaction size, this is a significant number.

Would 30 minutes a day in sales productivity greatly increase your potential to meet and exceed all of your revenue targets?

More to come on this topic…

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