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Prospect Researching - What is it?

telemarketing

Telephone Prospect Marketing

Fundraisers use prospect research, or lead development research, to identify potential large donors to their cause. People use the technique in order to identify and market to anyone investing in their services.

Prospect research establishes the likelihood of other firms buying your product/ service. Sales teams can prioritise their workload, becoming more efficient with time and resources, and generate greater results.

Telemarketing agencies can clean your data and improve your prospect lists

What is Prospect Researching?

Prospect researching involves investigating any leads that you hope to be able to sell your product/ service to. You can look to the following - background, preferences, ethics, goals, financial status and interests. By doing so, you can determine whether there would be interest from that lead in your product/ service before making the call.

By using the web, blogs, social media and third party publications, you can learn about the lead you want to approach. You should look at company size, number of employees, what service/ products they offer and also their typical sale size.

Other useful pieces of information to look for are:

  • Does the company struggle in any area in which your services may help improve?
  • What they talk about on social media?
  • What, if any, events have they hosted or visited?

Having this information will highlight how likely a company will be interested in your services.

Business Benefits of Prospect Researching

Reach the Right Leads

Prospect researching highlights potential sales and prioritises leads accordingly. With vital intelligence about leads, your business can focus sales efforts on the prospects most likely to generate sales.

This will help you identify the biggest potential increases to your income. It will also help you save money and resources as you won’t be chasing dead end leads who aren't suited or interested in your offering.

Better prospect lists means better leads, which means more sales

Improve Your Sales Pitch

Prospect research can also help add relevance to your sales pitch. You are much more likely to increase lead generation and sales if you can create a good rapport with the lead you intend to do business with.

You can use the knowledge gathered through prospect marketing to identify a lead’s “pain points” and then highlight just how your service can help ease them.

Bypass the Gatekeepers

You can identify the key team and decision members within the organisation you are planning to pitch to. By going straight to the decision makers, you will be able to bypass frustrating gatekeepers, shortening the sales process and making it far more likely to gain business.

Are There Any Cons?

While prospect research certainly has its benefits, it may provoke judging a book by its cover. Sales people often interpret information differently; what one person finds important, another may dismiss.

Therefore, potential leads may be disregarded before being properly explored and a sales opportunity may be missed.

The best rule to follow is not to dismiss any lead if there is even one reason that company may purchase your services or product.

How Can Telemarketing Help Prospect Researching?

You can outsource prospect marketing to a dedicated research company within the UK. Companies that specialise in UK lead generation can use their telemarketing teams to do much of the intelligence gathering for you.

They can contact businesses, individuals and third-party publications to do this.

This can be a very cost effective way to get the information you require without having to use your own team resources in finding hoards of important information yourselves. This leaves you and your sales team free to make the final calls to pitch your services.

Next Steps

Prospect researching is an innovative and extremely useful tool for any B2B sales company who want to expand their contacts with the most promising leads.

To start generating more leads today, complete the form at the top of the page and we’ll connect you to the suppliers best suited for your business.