Let me tell you if this is the first time you hear the term “B2B prospecting”, it is the most important skill you can have if you want your business to grow.
Your company will soon go out of business if you don’t have a sales funnel that generates new sales. This is where B2B Prospecting comes in.
This is a sales process that recognizes potential prospects and then outreaches to them. Eventually, you can use this to get meetings with your dream clients and close more business!
This guide will help you make prospecting more enjoyable, with tips and tricks to increase your chances of getting results.
Continue reading to learn more!
What is B2B Prospects?
A B2B prospect is any person or organization that fits the Ideal Customer Profile (ICP) but has not shown an interest in your company. Sales and marketing are responsible for educating prospects about your product and guiding them to purchase your product.
There’s 2 types of prospects for B2B:
Sales prospects are individuals and organizations that fit your Ideal Customer Profile. They are eligible for further outreach.
This group may include
Prospects that can be reached by cold calling, outbound email or social selling.
Combining these methods to contact prospects is called a “sales cadence”.
- Marketing prospects
A marketing prospect is any person or organization that expresses interest in your company through entertaining or engaging with the content created by your B2B marketing department.
They could have signed up for any demo via CTA, filled in a form on your company’s site, downloaded content, or clicked on an ad from your company.
Who conducts B2B Prospecting?
B2B prospecting is primarily the responsibility of sales and marketing professionals. They may work solo, but they often work in groups.
B2B prospecting is most effective when the sales and marketing teams work closely together. Combining them can create a stronger revenue team and lead to greater success.
The team is often divided into two groups. Each group is responsible for a different task as part of the overall sales strategy.
The two groups:
Sales Development Reps (SDRs) – This group is responsible for identifying ideal prospects, engaging them and booking meetings.
Business development managers (BDMs) This group performs sales demos, closes deals and generates revenue for your company.
B2B prospecting is typically managed by three types of marketers.
Performance marketers – They are responsible for acquisition channels in paid search and social media. They optimize and test new channels to increase growth.
Content marketers – They plan and create authoritative content that drives conversation and generates ROI.
Campaign managers They implement campaigns and execute multi-channel marketing to drive customer acquisition.
These groups are linked by the belief that data should be central to decision-making. These groups have been linked to show the ability to employ creative strategies to drive engagement and transition.
What are the various methods of B2B prospecting.
B2B prospecting can be done through a variety of sales and marketing activities.
This section will give you an idea of the most popular.
B2B prospecting in sales is done via outbound prospecting. This process includes:
Cold calling – SDRs calling prospects in B2B, explaining the benefits of the product, and qualifying them to engage with future projects.
Outbound mail– In an effort to establish a dialogue with prospects, SDRs reach out via email to B2B prospects. It is generally done through email automation platforms.
Social selling – SDRs follow prospects on social media and develop relationships with them. LinkedIn is the best social network to do this.
Marketing- Inbound marketing
B2B prospecting for marketers is done through inbound marketing.
These are the main channels of inbound marketing for B2B prospecting
Paid aka pay-per click (PPC), is an online advertising strategy used by performance marketers. Companies pay a fee if prospects click on their ads. This is done to increase conversions and drive traffic to websites/content.
Content Marketing – This strategy involves publishing valuable content (such as blogs, videos and webinars), and then promoting it to prospects. Content marketers are marketers who focus on this particular sector.
Email Marketing – This involves planning and executing marketing campaigns, and delivering them to prospects via emails with the goal of converting prospects into customers.
No matter what method you use to generate the meeting you need to realize that all approaches will be cold. If I say “cold” it means the prospect doesn’t know you and your company. It doesn’t matter if you call or email, most prospects will be contacting you because it is their first contact with your brand. Prospecting cold means that you will get many ‘No’s, and people who don’t know you well.
You’ll also get some “YES”es. Keep in mind that you only need a few yeses to make this process worthwhile. Let’s take, for example, 100 yoga studios are contacted and only 5% actually respond to your invitation and set up a meeting. Let’s say that two of the five people you reach out to buy your product, which could translate into thousands of dollars in revenue. The entire process of the Targeted Prospect List is worth it!
Do you need B2B prospecting help?