Making Business Deals on Social Media – Now The Digital Culture Norm

Here’s how it all went. You just did a post on Instagram for one of your brands, like you usually do daily. Then this happens.

Follower in Your DM: Hi there I’d love for to promote my company in your feed.

You: Ok cool. What’s the product? And is it on our IG feed only or on our website as well.

Follower: Both, we are part of an event coming up in two weeks and want to start in a couple of days.

You: Cool, how long do you want to run it for and what’s your budget.

With a couple more quick exchanges- the price, start time, a quick exchange of names and a promise to send a followup email with an ad contract follows and a time to pick up the cheque.  The deal is done.

You: Did I just sell a week of online advertising for my website and Instagram channel with someone I am yet to meet.

That’s kind feel backwards doesn’t it? The deal making processes used to be, you figure out who you want to do business by doing some research, you may make a cold call, send a proposal by email, ask for a meeting to further discuss and negotiate, then, there would be some waiting before a deal is closed.

But closing deals on the platforms where you are connecting and going about doing your business, is becoming more the norm in doing business in the digital age. Before, making business deals was done primarily from on the golf course, plis over business dinner and drinks. They still do. But, since there has been a shift in how we connect, communicate and come to know about new businesses and opportunities having done Digital and Mobile – where the business deals are happening, has followed.

Now the trend seems to be that as we spend a lot of time online especially on our mobile phones, we’re “meeting”, talking with and doing deals in WhatsApp message, Twitter and Instagram Direct Message. This shift enabled by digital and mobile has indeed changed our business culture.