Research leads is the process of locating and interacting with new customers, which is difficult for over 40% of sales representatives. Knowing a potential customer well before reaching out will help you determine whether pursuing them is in your company’s best interests.
A commercial connection can be made or broken by context, but many sales representatives still struggle in this area. So how do you investigate potential clients before a call or meeting to ensure a win-win situation? In this post, you will learn the crucial steps to leveraging the tools at your disposal and managing your time effectively to get to know your prospect well.
Why it’s crucial to investigate your sales leads
An individual who is aware of your good or service is a sales lead. They haven’t yet interacted with you or your business, though. You must be aware of their role, business interests, sector, and pain areas in order to engage them in the sales process. Having access to this information will enable you to interact with them in a way that highlights the value you can provide.
Lack of knowledge can be linked to the failure to engage a client in meaningful conversation. You ought to be well informed about your client before picking up the phone or entering the meeting.
It shouldn’t seem as though you are reaching out to a complete stranger when you are speaking with your prospect about a sale. They need to feel like someone you know well at that point. One of the most important proactive sales methods to increase the likelihood of success is this in-depth understanding of prospects.
The sales cycle includes a crucial phase called research. You can use it to qualify leads, differentiate yourself from the competition, and enhance the efficiency of your sales pipeline.
The steps required in researching a prospect before a sales meeting or call are as follows:
Investigate the business
Become as familiar as you can with your prospect’s business, learning about its sector, core principles, and more. You can decide whether the client is worthwhile pursuing using this information.
Examine recent company news for potential triggers
Learn about the most recent business developments and any news that can help you in your role as a sales representative. Do they intend to target a different market? Are they adding more products to their lineup? The best business chances might occasionally be found right in front of you.
Establish a company profile
Describe the prospect’s business in detail, emphasizing its main objective, history, core competencies, target market, and cutting-edge tools and technology. With this information, you’ll be able to assist the client in visualizing how your good or service can aid them in achieving their goals.
There are some excellent B2B sales tool that provides access to crucial company data and contacts if you’re looking for a time-saving option. You may quickly create contact lists and connect with decision-makers with the aid of these tools.
Examine their blogs, social media accounts, and website
The centre of marketing has shifted to social media. Businesses use its attraction to connect with large global audiences. Visit your client’s website, social media profiles, and blog entries to learn more about the company’s goods and services.
Recognize the possibility
Once you have compiled the main aspects of your prospect’s business. Spend some time learning more about them and their position within the firm.
Make sure you comprehend the market
You may improve both your outside and inside sales performance by tailoring your sales strategy to the prospect’s industry. Look into the prospect’s industry and identify any unique issues the company is facing. Over the past few years, has the industry undergone any significant changes? Has your business conducted business with clients who work in the same sector? Note these statistics so you can use them in your sales effort.
Review previous contacts
You can learn whether and how your prospects have previously conducted business with members of your industry by keeping track of their interactions. It may provide the background you require to formulate an appropriate value statement.
Identify their online profiles
Utilizing social media to find and evaluate prospects is known as social prospecting. You may learn more about someone’s interests, employment history, and professional network by using LinkedIn, Facebook, and Twitter.
Explain your place in the purchasing process
Is your potential customer a decision-maker, a gatekeeper, or another person? To ensure that you contact the appropriate individual to ask for the sale, find out what role they play in their organization. This will also assist you in determining whether the opportunity is worthwhile.
Describe any potential issues
Is your potential client’s business struggling to serve a significant market? Do they make little money? Ask your sales team for information on the potential pain points of your prospects; they can be an invaluable resource. You may also check out reviews and client endorsements to see what people are saying about the company.
Create a certain pitch
By this point, you’ll have gathered all the data required to offer you a complete picture of your prospect and their enterprise. To create a customized pitch, consider the company’s past, and current market conditions, and industry trends. Utilizing the information you discovered throughout the research phase can help the prospect view you as a resource rather than simply another vendor. Include market research to support your conclusions and the specifics on how to put your proposal into practice.
You could think that spending a lot of time investigating your prospect is necessary given these stages. You shouldn’t need more than five to ten minutes, in actuality. You’ll have a great feeling of what to look for after enough practice.
Start research leads in a better way
Understanding your prospect and their company inside and out can drastically improve your sales meetings. It can help you deliver a customized sales pitch and provide you with a competitive advantage.
You’re sure to save time and boost your sales performance after you understand how to thoroughly research prospects before a call or meeting.