10 best sales prospecting tips for business development executives
Posted by: Omar Elkholy
February 22, 2023
Here at Strategic Connection, we understand that prospecting is one of the most difficult, key stages of the sales process. For sales professionals, the prospecting process is filled with uncertainty - but it can also be an extensive opportunity to hone those skills and find ideal customers. To ensure you are ahead of the curve when seeking out prospects, here’s 10 essential tips that any active salesperson should keep in mind.
1. Define your target audience
Understanding your users is paramount to providing the best possible service. Analyze their firmographics and demographics, from sector to size of operations, in order pinpoint any pains or problems they might experience - then find ways for you remedy that symptom within the market. It may be useful to do some research within your own database and find who your top five customers are or who your most profitable customers are.
Don't get too comfortable relying solely on your existing customer base. Recent research reveals that up to half of prospects may not align with your ideal customer profile, so be sure you're doing due diligence when considering new business opportunities.
2. Tailor your prospect experience
Establishing meaningful connections with potential customers is key to engaging them in your service. Utilize the intelligence gathered on their needs and how they like to be communicated with, such as through a cold call or email, that best reflects who they are; both professionally and personally. Take time to get familiar with each customer's unique requirements - whether it’s for management training or website-building services - so you can offer tailored advice about how your business could help support theirs (in addition to commenting on relevant blogs/videos). This shows an investment of effort into understanding what makes individuals tick which further strengthens any relationships forged between businesses.
3. Provide engaging content
As businesses move towards e-commerce, an effective content marketing strategy has become essential for success. Not only does it provide a great user experience on your website, but also engages customers from the top of their sales funnel to the bottom. Crafting interesting and timely material such as videos or blog posts fosters trust with current and potential buyers, showing them you are up to date in your industry's knowledge base can be invaluable. For example, by creating video tutorials about how to choose call center software solutions providers is one way that organizations demonstrate their expertise within this space.
4. Become an expert on what you sell
To attract referrals and succeed in sales, it's important to be viewed as an expert. Research indicates that nearly 80% of prospects want their reps to serve a trusted advisor role, not just another vendor or seller. To reach this level, the top performers make sure they thoroughly understand their industry; around half are seen as experts while only 7% were regarded solely as “salespeople”.
5. Monitor the efficacy of your prospects
Proactively prospecting is a fantastic start for successful sales techniques, but don't forget to observe and analyze the efficacy of your efforts. Ensure you religiously track what’s succeeding or failing - then focus on those processes that garner consistent results. Additionally, challenge yourself with creative experimentation; through A/B testing try variable elements like follow-up time frames between communications as well as including video demonstrations in emails. This innovation can lead to increased customer engagement down the line!
6. Follow up with prospects
Putting in the effort to create meaningful long-term relationships with prospects not only gives you an edge, but it also represents your commitment and trustworthiness. In fact, a survey showed that 42% of buyers reported feeling encouraged to make a purchase following timely follow up calls from their sales rep. This demonstrates how even small gestures such as taking time for "just checking in" or sending proposals on deadline can help bring leads closer to conversion.
Staying on top of unanswered emails can be taxing; luckily, research shows that by following up after 24 hours, you increase your chances of getting a response to 21%. A trusted CRM can help alleviate the pressure and ensure timely follow-up messages are sent.
7. Be aware of your competition
Staying informed and agile is key to staying steps ahead of the competition. Evaluate your competitors’ changes - new staffing or product launches, for example as they may present an advantageous opportunity that allows you to swipe market share faster than expected! Be prepared: seize any chances presented by companies in transition swiftly and creatively. Now is the time for salespeople to seize potential openings presented through transformations within the industry.
8. Get out of your comfort zone
Salespeople can become complacent with their lifestyle, satisfied and unchallenged. But the true entrepreneur is never content; always pushing to expand markets, increase sales opportunities, and grow beyond what's comfortable. A relentless pursuit of success requires boldness that not all are ready for but those who take chances reap new rewards.
Acquiring new accounts can be hard when prospects hold firm to long standing beliefs. When objections arise, it's important to listen carefully and dig deeper into their reasoning for resistance; this will help you effectively tackle any reservations that may exist about making a change.
9. Stay consistent
Salespeople can gain a competitive edge by transforming their approach and becoming "prospect-driven." Rather than waiting for sales to drop before putting extra resources into prospecting, they should prioritize it all the time in order to add new customers and stay ahead of the competition. Investing effort into building relationships with potential buyers will lead larger opportunities throughout the pipeline. Prospecting should be an integral part of sales, not simply a reaction to declining numbers.
10. Own your territory
Prospects in your sales territory are not just opportunities; they may be the only thing standing between you and competitors seizing market share. Don't wait for competition to arrive at prospects’ doors — identifying qualified leads before someone else does is key to getting ahead, keeping long-term customers loyal and maintaining a top spot in the industry.
If you want to drive more sales, it's essential that you have a plan and know your target market. If you need help with these areas, we would be happy to chat with you and see how we can assist. Learn more about our services today.