Prospecting is a numbers game, but it doesn\u2019t have to be a slog. Here are a few ways to spice things up and improve your metrics in the process. <\/p>\n\n\n\n
What is B2B Sales Prospecting? <\/h2>\n\n\n\n
Sales prospecting is the first stage of the sales process. Before sales reps start talking to potential customers, they first need to source these leads. Sales prospecting is the process of searching for and making contact with decision makers that fit an ideal customer profile (ICP).
<\/p>\n\n\n\n
- Leads: <\/strong>Decision makers from a target market that fit your ICP. Initially the targets of cold calling and cold emails. <\/li><\/ul>\n\n\n\n
- Prospects: <\/strong>Decision makers who have expressed interest in your product or service, ready for a demo or discovery call. <\/li><\/ul>\n\n\n\n
Sales prospecting is not the only way to get prospects <\/em>for your company \u2014 inbound sales and marketing efforts play a big role in demand generation these days. But sales prospecting expands demand gen by using cold outreach to turn leads into prospects.
<\/p>\n\n\n\nThe goal of sales prospecting is to turn leads (decision makers that fit your definition of an ideal customer profile) into prospects (engaged with initial sales outreach and ready for further conversation). <\/em><\/p>\n\n\n\n
Sales prospecting is usually the responsibility of Sales Development Reps (SDRs) or Business Development Reps (BDRs) to fill the pipeline for the rest of the sales organization.
<\/p>\n\n\n\nThe sales prospecting process is typically split into specific stages:
<\/p>\n\n\n\n- Lead generation<\/strong><\/a>: <\/strong>Sourcing leads from LinkedIn Sales Navigator<\/a> or a database, tracking down contact information for outreach. <\/li>
- Lead Qualification: <\/strong>With an initial cold call or email, xDRs qualify leads by interest, budget, authority and other factors. <\/li>
- Opportunity: <\/strong>If a lead matches a company\u2019s ICP expresses interest, the xDR will pass them on as a Sales Qualified Lead (SQL). As the conversation continues, the lead becomes a prospect. <\/li><\/ol>\n\n\n\n
4 Sales Prospecting Stats to Set the Scene<\/h3>\n\n\n\n
Sales prospecting is straightforward in principle but hard and creative work in practice. These statistics show just how challenging sales prospecting is in B2B.
<\/p>\n\n\n\n- Nearly <\/strong>40 percent<\/strong><\/a> of sales leaders say that lead generation optimization is a top priority for revenue goals. <\/strong>Clearly effective sales prospecting is a work in progress at many organizations. <\/li>
- Two thirds of salespeople<\/strong><\/a> reached out to fewer than 250 leads in the past year.<\/strong> Just 15 percent reached out to over 1000 prospects. <\/li>
- Just <\/strong>13 percent<\/strong><\/a> of customers think a sales person understands their needs. <\/strong>Showing a personalized understanding of a prospect\u2019s needs from the first cold email is difficult. <\/li>
- Sales reps <\/strong>have less than 10 minutes<\/strong><\/a> to prove they have something valuable to offer prospects. <\/strong>And that\u2019s after <\/em>you get them to answer your call or respond to your email. <\/li><\/ul>\n\n\n\n
5 Common Sales Prospecting Techniques <\/h3>\n\n\n\n
Most salespeople utilize a combination of these five sales prospecting techniques.
<\/p>\n\n\n\n- Cold calls: <\/strong>Still the most popular sales prospecting technique, some xDRs will make 100+ cold calls each day. <\/li>
- Cold email<\/strong><\/a>: <\/strong>Not as direct as a phone call, but easier to scale. Sales teams create personalized email templates sent to thousands of leads at once. <\/li>
- Referrals: <\/strong>Plenty of customers are willing to give referrals, but only around 10 percent of sales reps ask for them. <\/li>
- Event Prospecting: <\/strong>Organic (but new) sales conversations from in-person and digital events and networking groups. <\/li>
- Social selling: <\/strong>Using a personal brand on Twitter or LinkedIn to connect with decision makers on industry topics. <\/li><\/ol>\n\n\n\n
Other techniques include direct mail, warm calling and follow up with marketing qualified leads.
<\/p>\n\n\n\nBecause they\u2019re the most common and <\/em>the most scalable, we focus on cold calls and cold email here. But having these sales prospecting techniques in place doesn\u2019t mean your lead generation is the most effective it can be. Why should you revisit your sales prospecting process? <\/p>\n\n\n\n
Sales Prospecting Needs Your Attention Now <\/em><\/h2>\n\n\n\n
Remember that foundation analogy? Let\u2019s switch it up a bit.
<\/p>\n\n\n\nThe quality of your sales prospecting efforts will affect everything downstream:
<\/p>\n\n\n\n- If you don\u2019t match your leads to your ICP, you\u2019ll lose more opportunities.<\/li>
- If you don\u2019t make sales prospecting consistent, you\u2019ll end up with an empty pipeline. <\/li>
- If your messaging isn\u2019t crystal clear, you risk wasting time<\/a> in follow up conversations. <\/li><\/ul>\n\n\n\n
All of these hiccups in the sales process will affect your company\u2019s revenue numbers \u2014 sometimes in small ways and sometimes in big ways. It\u2019s why the Gong team says<\/a> bad quarters start with five words: I\u2019ll coast for a while<\/em>. If you coast with prospecting when your pipeline is full, you\u2019ll end up with an empty pipeline in no time at all.
<\/p>\n\n\n\nThey call it a sales funnel for a reason; you\u2019re always going to end up with fewer leads than you had in the previous stage. But starting out with 5,000 high quality leads can give you the same results as starting out with 10,000 low quality leads. The only difference is the work you put in before your AE or sales director ever jumps on a Zoom call.
<\/p>\n\n\n\nBetter sales prospecting now means more opportunities down the line. <\/p>\n\n\n\n
7 Sales Prospecting Techniques That Will Improve Your Process \u2014 And <\/em>Your Numbers <\/h2>\n\n\n\n
You know the phrase work smarter, not harder<\/em>?
<\/p>\n\n\n\nSales prospecting takes an incredible amount of work.
<\/p>\n\n\n\nSales Development Reps put in long hours of cold calls, CRM notes and emails. That time can either be productive or unproductive. Unfortunately, it\u2019s often unproductive sales activity that eats up the most time. Nearly two thirds of sales reps\u2019 time<\/a> is spent on \u201cnon-revenue generating activities\u201d, with only 35 percent of working hours dedicated to actual selling.
<\/p>\n\n\n\nHow can we reverse those numbers?
<\/p>\n\n\n\nWe don\u2019t have a silver bullet, but we do <\/em>have a handful of prospecting tips that have worked well for our team. Who says lightning doesn\u2019t strike twice? Hard work combined with smart strategies and processes will improve your sales prospecting efforts in no time. <\/p>\n\n\n\n
#1: Make a Consistent Process That Works for You<\/em><\/h3>\n\n\n\n
Prospecting doesn\u2019t usually come easy to anyone.
<\/p>\n\n\n\nIt\u2019s repetitive, somewhat awkward (at least at first) and benefits from the law of large numbers. If you expect to survive (let alone succeed) in sales prospecting, you should set up a sustainable prospecting process.
<\/p>\n\n\n\nAcross the board, sales prospecting should always<\/em> be:
<\/p>\n\n\n\n- Consistent: <\/strong>You can\u2019t expect to send a handful of emails and be done with it. Set aside time every single day for sales prospecting and stick to it. Choose a handful of activity metrics (calls made, emails sent) to hold yourself to and build up from there. <\/li>
- Strategic: <\/strong>Gone are the days of \u2018spray and pray\u2019 prospecting. An up-to-date sales stack will let you segment your target audience, send cold emails at scale, track responses and integrate with your CRM. <\/li>
- Personal: <\/strong>Don\u2019t sacrifice quality for quantity. <\/li><\/ul>\n\n\n\n
Other than these elements, you can get creative with sales prospecting. It\u2019s a flexible process. If you want to dedicate mornings to email and afternoons to calls, go for it. If you batch your work by setting up all of your email campaigns at the same time every week, more power to you.
<\/p>\n\n\n\nThe key to keeping the pipeline full is to make sales prospecting consistent, work strategically and maintain a personal touch. <\/p>\n\n\n\n
#2: Keep Your Ideal Customer Profile Crystal Clear<\/h3>\n\n\n\n
This isn\u2019t exactly a sales prospecting technique. But it is 100% part of the prospecting process.
<\/p>\n\n\n\nOne of the most important factors for sales momentum is to make sure you\u2019re targeting \u2014 and reaching \u2014 the right people. Start with your ideal customer profile (ICP): what your ideal customer looks like, why they need your product and how they make tech decisions.
<\/p>\n\n\n\nYes, sales prospecting is a numbers game. But that doesn\u2019t mean you should target anyone and everyone in the industry you\u2019re selling into. After volume, effective prospecting is about generating the right <\/em>leads. <\/p>\n\n\n\n
The majority of salespeople report that 50% of the leads they contact<\/a> are not a good fit for the business. Is it any surprise that just 25% of salespeople meet their quota? <\/h4>\n\n\n\n
Generating thousands of leads won\u2019t earn you brownie points. Sending leads that convert <\/em>will stand out. Instead of casting the net wide, work a handful of steps into your sales prospecting workflow to match your outreach to your ICP:
<\/p>\n\n\n\n- Use filters on LinkedIn Sales Navigator to narrow down your lists. <\/strong>You shouldn\u2019t try to reach out to all the Director of Marketing roles in California. Instead, narrow your lists down by industry, company size, experience and other factors relevant to your solution. <\/li>
- Look at the entire account, not just the lead. <\/strong>Even outside account-based marketing, taking a step back to look at the whole company is beneficial. You\u2019ll get insight into their growth and the best person you should get in contact with (it may vary account to account). <\/li>
- Adapt your messaging to qualify leads. <\/strong>Templates have a place in sales prospecting. But if you\u2019re sacrificing a personalized value prop if favor of sending at scale you\u2019re likely missing out on opportunities. More on messaging below. <\/li><\/ul>\n\n\n\n
If your company doesn\u2019t have a written ICP, create an ad hoc <\/em>version for yourself. Look at your most active users or highest value customers \u2014 the top 10% should suffice. Dive into what they have in common: industry, seniority, business challenges, location and how they use your product. Distill these commonalities into a working ICP for your sales prospecting process. <\/p>\n\n\n\n
#3: Automate Your Process Whenever Possible <\/h3>\n\n\n\n
Sending an email or leaving a voicemail doesn\u2019t take long, right?
<\/p>\n\n\n\nNot exactly. The seconds that you spend confirming a meeting or sending a follow up email add up when you\u2019re sending thousands of emails every single week. Sales process automation directly reduces the amount of time spend on repetitive or administrative tasks
<\/p>\n\n\n\nThese days, CRM integration, mail merge and activity reports should be a given. But here are a few other ways you can introduce automation into your sales prospecting:
<\/p>\n\n\n\n- New lead alerts.<\/strong> With LinkedIn Sales Navigator, quickly set up custom searches (i.e. \u201cDirector of Marketing in California at an IT company with 200+ employees\u201d). Then set up alerts for that search \u2014 daily, weekly or monthly. Sales Nav will send you an update with all the leads added to that search, and you\u2019ll have a fresh list of leads without having to lift a finger. <\/li><\/ul>\n\n\n\n
- Hands-off follow up. <\/strong>Start by streamlining how leads respond to you. At the very least, include a link to your calendar to save time on both ends. Better yet, extend your follow up automatically by scheduling out emails a few days, a few weeks and a few months into the future. Most sales reps will set up their cold emails with a single follow up. In contrast, most sales take 5 or more follow ups<\/a> after the initial contact. As you progress through the sequence, remove the pitch and focus instead on being helpful (\u201cHere\u2019s an article I thought you\u2019d find valuable\u201d). <\/li><\/ul>\n\n\n\n
#4: Focus on the Message \u2014 It Matters<\/h3>\n\n\n\n
Sure, you have your playbook and sales process. But neither should limit you to only <\/em>using the script every single time. Your playbook should define your value prop, how to handle objections and how to talk about pricing. The personal touch is up to you.
<\/p>\n\n\n\nIf you\u2019re making cold calls, change up the way you greet leads and the way you introduce yourself. Take a mental note on which is received better. If you\u2019re sending cold emails instead of making cold calls, get creative with your copy to improve your cold email response rate<\/a>.
<\/p>\n\n\n\n- Mention something personal to their role. <\/strong>If they\u2019re new to the job, congratulate them. If they have a technical role, ask them their biggest challenge. If their company is in the news, mention it. <\/li>
- Go crazy with your <\/strong>subject lines<\/strong><\/a>.<\/strong> At least until you test out what works (see below). \u201cQuick question\u201d, \u201cSales Nav?\u201d and \u201cWhat do you think?\u201d have all worked for us. <\/li>
- Edit yourself. <\/strong>Sales isn\u2019t marketing, but good copy still matters. Instead of sending off your first email draft, sit on it for a day and ask yourself how you can make it snappier. <\/li><\/ul>\n\n\n\n
#5: Test, Test and Test Again<\/h3>\n\n\n\n
Using the same, tired old template just isn\u2019t going to work anymore.
<\/p>\n\n\n\nAs you get creative with your messaging (see above), start testing out what works. You don\u2019t even have to limit it to version 1 <\/em>and version 2<\/em>. Test your CTAs, your subject lines, which variables you include, when you drop your value prop, even the way you sign off. (Yes, we\u2019ve had leads respond to cold emails just to compliment the way we sign off.)
<\/p>\n\n\n\nSome questions to consider:
<\/p>\n\n\n\n- Which subject lines get you the highest open rate? Are they descriptive, succinct, personalized or direct? Should you include the company name? <\/li>
- Does an more demanding, action-oriented CTA (\u201cCan we set up a quick 15-minute call?\u201d) work better than an open-ended, interest-oriented CTA (\u201cInterested in hearing more?\u201d)? <\/li>
- Which elements of your value prop lead to the most favorable responses? <\/li>
- For 2020 and beyond, do emails that mention COVID-19 get higher or lower engagement? <\/li><\/ul>\n\n\n\n
#6: Put a Face \u2014 or Voice \u2014 to Your Outbound Efforts<\/h3>\n\n\n\n
If you typically run with cold emails, you don\u2019t have to limit yourself to the written word. If you call dozens of leads every day, you don\u2019t have to stop there.
<\/p>\n\n\n\nOnly in very rare cases is a sales org best served by only <\/em>sending out cold emails or only <\/em>making cold calls. Mix it up instead. Even at its lowest <\/em>tier of leads, Outreach recommends<\/a> 6 emails and an additional call over the course of 20 days. For marquee accounts, they recommend 20 emails, 12 calls and 10 LinkedIn touches <\/strong>over the course of 90 days. While the volume is nothing to sneeze at, it\u2019s the alternative forms of contact that will likely make the biggest difference.
<\/p>\n\n\n\nEven better, start sending videos within your follow up emails and LinkedIn Connection requests. If your supervisor OKs it, try out a sales video tool like Vidyard<\/a> or Biteable<\/a> to create short, personalized videos to insert directly into your outbound messages. The personal touch will almost always get you more responses. <\/p>\n\n\n\n
`#7: Build Your Social Presence <\/h3>\n\n\n\n
![\"sales](\"https:\/\/wiza-edge.b-cdn.net\/blog\/wp-content\/uploads\/2020\/06\/sales-prospecting-meme.jpg\")
<\/figure>\n\n\n\nEmail and phone calls are not the only two channels for effective sales prospecting. Using LinkedIn directly \u2014 especially when targeting high value accounts \u2014 is a great way to amplify your prospecting efforts.
<\/p>\n\n\n\nEven if you\u2019re not actively \u2018social selling\u2019, it always helps to be a friendly, helpful presence on LinkedIn or Twitter. It builds a foundation of trust for when a lead becomes a prospect and starts talking to you.\u00a0
<\/p>\n\n\n\nTo actively work social selling into your sales prospecting process, consider these ideas:
<\/p>\n\n\n\n
- Go crazy with your <\/strong>subject lines<\/strong><\/a>.<\/strong> At least until you test out what works (see below). \u201cQuick question\u201d, \u201cSales Nav?\u201d and \u201cWhat do you think?\u201d have all worked for us. <\/li>
- Mention something personal to their role. <\/strong>If they\u2019re new to the job, congratulate them. If they have a technical role, ask them their biggest challenge. If their company is in the news, mention it. <\/li>
- Hands-off follow up. <\/strong>Start by streamlining how leads respond to you. At the very least, include a link to your calendar to save time on both ends. Better yet, extend your follow up automatically by scheduling out emails a few days, a few weeks and a few months into the future. Most sales reps will set up their cold emails with a single follow up. In contrast, most sales take 5 or more follow ups<\/a> after the initial contact. As you progress through the sequence, remove the pitch and focus instead on being helpful (\u201cHere\u2019s an article I thought you\u2019d find valuable\u201d). <\/li><\/ul>\n\n\n\n
- Look at the entire account, not just the lead. <\/strong>Even outside account-based marketing, taking a step back to look at the whole company is beneficial. You\u2019ll get insight into their growth and the best person you should get in contact with (it may vary account to account). <\/li>
- Strategic: <\/strong>Gone are the days of \u2018spray and pray\u2019 prospecting. An up-to-date sales stack will let you segment your target audience, send cold emails at scale, track responses and integrate with your CRM. <\/li>
- Consistent: <\/strong>You can\u2019t expect to send a handful of emails and be done with it. Set aside time every single day for sales prospecting and stick to it. Choose a handful of activity metrics (calls made, emails sent) to hold yourself to and build up from there. <\/li>
- Cold email<\/strong><\/a>: <\/strong>Not as direct as a phone call, but easier to scale. Sales teams create personalized email templates sent to thousands of leads at once. <\/li>
- Two thirds of salespeople<\/strong><\/a> reached out to fewer than 250 leads in the past year.<\/strong> Just 15 percent reached out to over 1000 prospects. <\/li>
- Lead Qualification: <\/strong>With an initial cold call or email, xDRs qualify leads by interest, budget, authority and other factors. <\/li>
- Lead generation<\/strong><\/a>: <\/strong>Sourcing leads from LinkedIn Sales Navigator<\/a> or a database, tracking down contact information for outreach. <\/li>
- Prospects: <\/strong>Decision makers who have expressed interest in your product or service, ready for a demo or discovery call. <\/li><\/ul>\n\n\n\n