Sales prospecting isn’t just a numbers game. It’s about focusing on quality over quantity, identifying the right prospects who are most likely to become valuable customers.
So, how exactly do you achieve this? While there’s an abundance of techniques available for sales teams, navigating through these strategies can be daunting.
As the VP of sales at Crunchbase, I have the privilege of leading a team of talented sales pros who are selling our indispensable prospecting tools to other dealmakers at B2B companies. Here are five tried-and-true prospecting techniques we’ve leveraged across our teams and frequently recommend to our customers. Each one is engineered to maximize your sales pipeline and accelerate closures.
1. Adopt an Account-Based Approach: A Personalized Strategy
An Account-Based Selling (ABS) strategy involves targeting high-value accounts with personalized messaging. A deep understanding of a prospective customer’s business is essential for an effective ABS strategy.
Key Takeaway: An ABS strategy calls for a more personalized and targeted approach, increasing the chances of conversion in your B2B sales efforts. To do this, sales teams must prioritize detailed data on revenue, buying signals, and firmographics. This will aid them in identifying top prospects who are in a position to buy and maximizing their chances of success.
2. Monitor Hiring Activities: A Financial Health Indicator
In the B2B sales world, understanding a company’s financial health is crucial. Hiring activities provide valuable insights into this aspect. Companies in a financial position to spend often expand their teams rather than downsizing. Regularly tracking hiring news, new recruits, and layoffs can provide a wealth of information about a company’s readiness for new investments.
Key Takeaway: A spike in hiring activities often signals a company’s willingness to spend and readiness to invest in new solutions, making them a ripe prospect for your B2B sales efforts. Sellers should focus on targeting a smaller group of companies that are actively hiring and haven’t had recent layoffs.
3. New Leadership Hires: A Prospecting Goldmine
The appointment of new leadership within a company often signals expansion and a readiness for change. For instance, a new CTO might suggest a potential tech stack revamp, presenting an excellent opportunity for tech sales.
Key Takeaway: New leadership hires often bring fresh perspectives and are more open to exploring new solutions, making them an ideal target for your B2B sales efforts.
4. Capitalize on Recently Funded Companies: A Strategic Move
Companies that have recently secured funding are typically on a growth trajectory, making them perfect targets for your sales efforts. By focusing on the date of their most recent funding round, you can easily identify prospects that fit your ICP.
Key Takeaway: Recently funded companies are likely to invest in new solutions to support their growth, making them an ideal target for B2B sales teams.
Read More: Seven Causes — and Fixes — for a Leaky Sales Pipeline
5. Boost Prospecting Speed with Automation: A Game Changer
Companies resembling your recent successful deals can be prime targets. Collaborating with vendors offering ‘similar companies’ features can automate the prospecting process, saving time and resources.
Key Takeaway: Automation tools can streamline and accelerate the prospecting process, allowing your B2B sales team to focus on engaging and converting high-quality prospects. Automation tools have seen major improvements in both usability and intelligence over the last few years, making prospecting more efficient and effective than ever.
In the rapidly evolving world of B2B sales, a strategic and effective prospecting approach is crucial. The techniques discussed here are all designed to supercharge your sales pipeline. We use them at Crunchbase and you should, too.
BONUS READ – Jon Miller, CMO at Demandbase chats about the evolution of ABM in this webchat with MarTechSeries:
