If you're struggling to create significant reveue growth, perhaps you should take a closer look at the prospects whom you are targeting. Matching your products and/or services with the right audience is critical to achieving a high conversion rate. Attempting to sell engagement rings to married men and women, for instance, isn't going to work. Rather, you should target newly engaged couples who are looking to tie the knot. Of course, that's just one simple example of smart prospect targeting.
When well planned lead generation campaigns are coupled with precision-targeted prospects a B2B organization will begin to see real growth.
Capture More Information about Prospects
One all-too-common problem faced by B2B sales reps is a lack of information about their prospective customers. Even if you have the prospect's name and phone number, that may not suffice to create effective messaging. Ideally, you should collect and harvest as much information about sales leads as possible. This includes the prospect's name, company for whom they work, project details, budget, timeline, etc.
You should also try to think about prospect data points or insights that are unique to your business and sales process. For example, if you sell digital marketing analytics tools, it may be helpful for your sales team to know which tools your lead is currently using.
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Place Yourself in the Prospect's Shoes
Sometimes it's best to take a few steps back and place yourself in the shoes of a prospective customer. Ask yourself, what exactly is the prospect interested in buying? If the prospect's needs don't align with the products and/or services offered by your company, perhaps you should move on to a different prospect. Time management is a critical element in sales, and you don't want to waste your time with unqualified leads.
Cold vs Warm Prospects
You'll face an uphill battle when trying to sell products and/or services to cold prospects. If you've had no prior correspondence with a prospect, he or she will likely be skeptical; thus, resulting in a harder and more laborious conversion process. This doesn't necessarily mean that you should avoid selling to cold sales leads, but you should focus on warm and hot prospects to generate more sales with less effort.
Think about ways that you can use marketing automation to efficiently nurture leads so that they can be passed to your sales team after they've been exposed to your brand and solutions.
Matching Prospect's Budget with Product/Service Price
Another important step when targeting prospects is to match his or her budget with your product or service's price. If you are a salesperson for a large-scale industrial construction company, for instance, small business owners may lack the necessary needs and funds for your service. On the other hand, larger companies will be more likely to have frequent needs as well as budget. The bottom line is that you need to match your products and/or services with prospects based on pricing.
Targeting the right prospects is critical in sales. Following the tips outlined here should help you identify qualified leads who are interested in your products and/or services.