The Startup Chat with Steli and Hiten on Smash Notes

The Startup Chat with Steli and Hiten podcast.

December 31, 2019

Unfiltered insights and actionable advice straight from the trenches of startup and business life. The show hosts, Steli Efti and Hiten Shah, are both serial entrepreneurs who have founded multi-million dollar SaaS startups. Being busy CEOs of fast-growing companies, they know the value of your time and make sure you get the most out of each 22 minute episode. Tune in for new episodes every Tuesday and Friday.



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In today’s episode of The Startup Chat, Steli and Hiten talk about Social Proof. They share the top tips for using social proof to benefit your business and explain the importance of why to use it. They share a case study to show you the mistakes that can be made and the steps to take to correct them.


If you have ever purchased a product because you read a positive review or brought a service because you heard that it is one of the best. Then you have been influenced by social proof. People hate to make mistakes, the hassle of buying the wrong thing or being stuck with poor service, drives people to look for guidance before they make their buying decisions. Social proof can offer huge growth for your business, as it serves to use the need for people to align their actions with the actions of people who have already succeeded.


Tune into this week’s episode of The Startup Chat to learn to boost your marketing effectiveness with social proof. Steli and Hiten look at how social proof can increase your conversions and help you to understand the importance of social proof. Steli and Hiten’s also share their key tip for getting your startup on top, by using social proof.


Time Stamped Show Notes:


01:14 The definition of social proof.


01:32 Where should social proof be used.


03:28 What social proof is and what it is not.


04:00 How to find your credibility.


04:54 Examples of social proof.


05:36 How to power-up your social proof.


07:15 How do you get started.


07:45 Key advice of how social proof supports your startup.


08:30  How to structure your social proof.


08:50 The social face of social proof


3 Key Points:


If your product is of value there is always someone who is going to be someone singing your praises.

As soon as you have the tiniest bit of social proof you need to use it.

People will seek external reinforcement to either trust you or run away from you.


[0:00:01]


Steli Efti: This is Steli Efti.


 


[0:00:03]


Hiten Shah: And this Hiten Shah, and today on The Startup Chat, we're gonna talk about Social Proof, and specifically social proof when you communicate with prospects. Is that right, Steli?


 


[0:00:13]


Steli Efti: That is indeed correct, my friend.


 


[0:00:17]


Hiten Shah: Then teach me because I don't know how to do this very well.


 


[0:00:20]


Steli Efti: Ar light, alright. So here's why I wanted to talk to you about this. Yesterday, I had the honor and pleasure to talk virtually at a conference and what they did is basically they had a bunch of startups submit there sales emails to me and I was able to just do a cold email tear down or sales email tear down virtually through Google Hangouts. And one thing that struck me was that I looked through 10 different sales emails from 10 different startup teams, and not a single one of them ... Every single one of them, I had to give feedback about the absolute and utter lack of any type of social proof in there. And so here is what I mean by social proof. Social proof means can you point to things you have done or people, and organization, that have recognized you in a way that tells me I should trust you, or I should believe the things you say. And so when you start a relationship with prospect, it doesn't matter if it's a cold email or a sales call or even at a conference if you walk over and you say hello to somebody, you try to coney who you are and what you do or what you might be able to do for them. If I understand what you do and if I believe or think maybe this could be interesting to me, the next most important hurdle is for me to then believe that you're telling me the truth. And the best way to accomplish that is by creating and including some type of social proof. So I was baffled that nobody was doing that.

Key points in this episode

In this episode

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