Prospecting for new business leads involves discovering and contacting prospective clients. Salespeople who wish to build their company and income need it. If done well, prospecting may be exciting and lucrative.
Based on my expertise and studies, I will provide some prospecting ideas in this blog article. I hope you employ them in your sales approach.
Tip #1: Define your ICP.
Know your ideal consumer before prospecting for new business leads. This will help you target the best candidates. Based on their traits, wants, goals, difficulties, and behaviours, an ideal customer profile (ICP) describes the business or individual most likely to purchase from you.
Use customer data, market research, industry studies, competitive analysis, and intuition to design your ICP. Use LinkedIn Sales Navigator or ZoomInfo to discover and segment leads.
When determining your ICP, consider:
Geographics, industry, size, revenue, etc.
Psychographics—values, attitudes, interests, motives, etc.
- Pain points: what issues may your product or service address?
What are their business and personal goals?
How do they buy? Who decides? How do they communicate?
Tip #2: Make a prospecting list
After defining your ICP, create a list of prospects that meet it. Manually or using automation tools. To have a list of good leads to contact and nurture.
Prospects may be found in several ways.
- Your network: recommendations from customers, partners, colleagues, friends, family, etc.
- Social media: LinkedIn, Twitter, Facebook, Instagram, etc., where you may search for prospects by keywords, hashtags, groups, etc.
- Online directories: Yelp, Yellow Pages, Crunchbase, etc., where you may search by category, location, rating, etc.
- Events: trade exhibitions, conferences, webinars, seminars, etc.
- Content marketing: blogs, podcasts, videos, ebooks, whitepapers, etc., to attract prospects with useful content and generate leads through opt-in forms.
- Email marketing—newsletters, campaigns, cold emails, etc.—lets you directly contact prospects and give them something of value in return for their contact information.
- Cold calling: phoning uninterested prospects.
Tip #3: Qualify prospects
Prospects vary. Some may purchase immediately, while others may require more time and nurture. Therefore, before devoting time and effort – qualify your prospects.
Qualifying involves determining a prospect’s likelihood of becoming a customer based on their ICP fit and product or service interest. Methods and criteria for qualifying prospects include:
BANT: Budget, Authority, Need, and Timing.
CHAMP: Challenges, Authority, Money, and Prioritisation.
GPCTBA/C&I: Goals, Plans, Challenges, Timeline, Budget, Authority, Consequences, and Implications.
Qualifying identifies the prospects most likely to purchase from you and eliminates or delays the others. This optimises time and resources and boosts conversions.
Tip #4: Nurture Prospects
After qualifying prospects, nurture them until they purchase. Nurturing involves creating trust, educating prospects, resolving their problems, and progressing them along the sales funnel.
Some ways to nurture include:
- Email: giving prospects personalised, relevant emails with value, information, and offers.
- Phone: following up, answering inquiries, scheduling appointments, or offering.
- Social media: like, commenting, sharing, and texting prospects.
- information marketing: generating and distributing information that educates, entertains, or inspires prospects and demonstrates your knowledge and reputation.
- Webinars: offering free consultations, product demos, or customer testimonials.
- Case studies: showing how your product or service helped clients solve issues or accomplish objectives.
Nurturing keeps prospects engaged until they buy. HubSpot and Mailchimp can automate, monitor, and evaluate nurturing programmes. See Sales Prospecting.
Tip #5: Sell
Asking for the sale concludes prospecting for new business leads. This involves providing a compelling offer and urging prospects to act. In person, via phone, email, or on a landing page.
Salespeople must ask for the sale to clinch the transaction. Tips for confidently asking for the sale:
- Know your product or service, anticipate queries, and have a clear value proposition and call-to-action.
- Be confident: believe in yourself and your product or service, adopt a positive, aggressive tone, and avoid phrases like “maybe,” “hopefully,” and “if.”
- Explain what you’re giving, how much it costs, what it does, and what you want people to do.
- Persuade them through social evidence, testimonials, promises, discounts, scarcity, urgency, or reciprocity.
- Respect their needs, empathise, calmly address their complaints, and don’t push them.
Follow these methods to ask for the sale in a natural and comfortable manner. Congratulations if they agree! New business lead closed. Don’t give up. Follow up later or try another candidate.
New Business Leads – Conclusion
Salespeople who wish to improve their company and income must prospect for fresh leads. If done well, it may be tough, time-consuming, and infuriating, but rewarding and entertaining.
Summary: New Business Leads
Prospecting involves finding and contacting prospective clients.
Business growth requires prospecting.
Prospecting strategies include cold phoning, email marketing, social media, referrals, networking events, trade exhibits, and more.
Prospecting includes knowing your target market, value offering, and sales objectives.
Prospecting involves regular follow-up to nurture prospects and progress them through the sales funnel.
Prospecting is difficult and time-consuming, but done well, it may be lucrative.