5 Tips For Researching Prospects

April 23, 2011

Having the right information is crucial when it comes to building relationships and making sales, and no where is it more important than in knowing who your prospects are. Obviously, the more research you do in advance, the better off you will be, but how do you know you’re getting useful and up-to-date information? Here are five tips to help you get the right people to pick up the phone and listen to your pitch. 1. Don’t depend on just one database or tool for your research. Use a variety of sources such as OneSource, Hoovers, LinkedIn, Jigsaw, etc. This minimizes your chances of having out of date contact information and helps you avoid those awkward phone calls to people who no longer work at the company you called. 2. LinkedIn is meant for networking. If you just make a prospect list without using LinkedIn research as a part of your process, you’re missing out on all sorts of information that could help you close a sale or make a meeting. Really research the people you want to target. Read their profiles and leverage that new knowledge to start a conversation with them. You’ll be glad you did. 3. If it’s a strategic account, take time to learn how the company operates, their processes and procedures. Look at the company’s website and make sure you have a good understanding of what they do and what’s important to them. The more informed you are as a salesperson, the easier it will be for you to build a relationship with a potential client. 4. Be open to talking to lots of people. Even if they aren’t part of the decision making team, they can still provide valuable information and help you eventually reach the decision makers. It also helps to see if you’re getting consistent information from different parties. 5. When selecting a target to prospect, make sure you can explain to them why you want to do business with them. If you’re not prepared to answer questions and demonstrate the benefits of working with your company, you’re wasting both your own and your prospect’s time. You never want to go into a call (cold or warm) unprepared. If you know any other tips, tricks, or tales about researching prospects, please send them our way in the comments!