How do you target prospects with precision?

The trick lies in identifying the right account (using STP) and identifying prospective buyers (using BANT): 1. Getting to the right accounts using STP (Segmentation, Targeting, and Positioning): You first segment by understanding and categorising the market), then you target specific segments with common needs, and finally position your products/services to meet those needs effectively. 2. BANT (Budget, Authority, Need, and Timeline): BANT focuses on qualification of leads in the sales process. Of all the people you can get to within an account, you need to chase those that have budget, decision-making authority, a need, and a definitive timeline for making a decision. Disclaimer: Used ChatGPT for definitions and brevity.

Although the solutions I sell cover a wide range of industries, I've found that narrowing my search to specific roles at specific levels has proven beneficial. For example, the solutions I sell are in the telephony space, so one of the specific roles I pursue are call center directors. From experience talking with several call center directors, I know their pain points, KPIs, and how I can help them. Briefly addressing these points in cold outreach tends to spark more conversations, ultimately leading to more wins.

As a seasoned sales executive, I've learned that identifying your ICP is like finding the perfect key for a complex lock. It's about understanding the intricate details, not just the surface. I've honed my skills to see beyond industry norms, diving deep into data, and recognizing patterns that others might miss. This allows me to connect with clients on a level that transcends a simple transaction. Remember, it's not just about selling; it's about forging lasting partnerships that benefit both sides.

The best and fastest way to get th insight customers is to go to market a lot. We can recognize many things that we will not learn in school.

6 Sales Targeting Strategies to Reach the Right Prospects Define Your Ideal Customer. ... Build a Prospect “Grading” Strategy. ... Aim for Prospect Quality Over Quantity. ... Invest in Sales Technology. ... Use the Power of Social Selling. ... Don't Forget About Customer Experience.

Segmentation is indeed the key starting point. Especially when starting out on a sales growth journey, focus on at most 2 segments (such that each hedges risks of the other) is a good idea. Segments can be formally thought of as a group of customers with similar needs, similar willingness to pay and similar cost to serve. Not necessarily customers within a given geography or in a given broad industry sector. As an example, if I am offering a consulting service in ESG, my ICP could be (a) Large profitable pesticide companies who have had recent regulatory issues and (b) startup unicorns in the Agritech space who appear cash-strapped and are seeing high employee churn. The two groups are likely to be counter-cyclical to each other.

Here are a few recommendations and strategic approaches for building prospect lists: - Competitor Analysis: Look at your competitors' customer base. Identify businesses that are currently using your competitors' products or services, as they might be open to considering alternatives. - LinkedIn Groups: Join and participate in LinkedIn groups that are relevant to your industry. Engaging in discussions can help you identify prospects who are actively interested in related topics. - Customer Referrals: Leverage your existing satisfied customers to refer you to others who may benefit from your services. Incentivize referrals if possible. The key is to continually refine your prospecting strategies based on data and results.

-You should verify all the data with the expertise from the market network. Data can mislead your judgment without verification.

The best source of Data is Sales Navigator, the most updated database since we are the ones updating our own info and it doesn't depend on companies doing it for you

In the world of sales, I've found that treating all prospects equally is like trying to fit a square peg in a round hole. It just doesn't work. Instead, I've honed the art of segmenting and prioritizing. It's like sculpting a masterpiece; you start with a block of stone and carefully chip away to reveal the true form. By categorizing prospects based on their needs, readiness, and fit, I ensure that I invest my time where it matters most. It's not just about closing deals; it's about delivering tailored solutions that make a real impact. That's the essence of strategic selling.

-You should project all customer sales potential -Then establish a simple diagram for the decision-making system -Then measure your prospect's influence power in the decision-making process. -While a full authority owner has a co-efficient 1, a normal executive's co-efficient is 0.25. Let's make an example: 1 million USD with buying power with a buying executive with 0.25 co-efficient. 1 million USD X 0.25 = 250.000 USD potential. 275k USD with an SME company owner who has a 1 co-efficient. 275k USD X 1 = 275.000 USD potential. An SME would have more potential than a big corporate firm.

Divide and conquer! Piece by piece what can this part of the product do to whom? Who and What Different parts of your solution may please different departments so always understand what their pain is so you can diversify your pitch

Remember that every customer has a different contact point, and your messaging should evolve as your relationship with them deepens. Continuously refine your approach based on feedback and engagement metrics to ensure your messages remain personalized, relevant, and effective. Building strong relationships with prospects takes time and effort, but it can lead to long-term customer loyalty and business growth.

It is very important when you have connected with someone new for a face to face or video that you always ask open ended question to get them to talk. People love to talk about themselves and their business. Try and dive into some pain points and hopefully offer a solution that your products will provide. Always ask for next steps together, never leave the meeting unsure of what to do next.

In my journey as a sales leader, I've discovered that a one-size-fits-all message is like a blunt tool in a craftsman's hand. To truly connect with prospects, salespeople need to master the art of crafting personalized and relevant messages. It's akin to tailoring a bespoke suit; it fits perfectly because it's made just for your prospect. By delving into a prospect's pain points, goals, and preferences, salespeople can ensure that every message resonates. It's not just about communication; it's about building meaningful relationships that lead to successful partnerships. That's the secret to impactful sales.

One of my top learnings vis-a-vis B2B sales over almost a decade in the software industry... B2B Software and B2B SaaS sales is very similar to acquiring consulting assignments. Clients do not ever buy the solution for its price or features, they buy it for how experienced the person (and sometime, the team) selling the solution is. This is what makes the sales process inherently relationships-driven. It takes time to gain (meaningful) experience around people, processes and products (or solutions). It also takes time to build (meaningful and sustainable) client relationships!

The best way to crush this is to be very present on LinkedIn and always be on top of your prospect's profile, not to talk about their alma mater, but to understand how they speak and what they care about

In my sales journey, I've always been driven by the mantra 'what gets measured, gets managed.' It's like navigating with a GPS; you need to know where you are to reach your destination. By meticulously tracking and measuring results, I gain invaluable insights. I analyze what's working and what isn't, allowing me to adapt and optimize my strategies. It's not just about hitting targets; it's about continuous improvement. That's the compass that guides me towards sales excellence.

The sales funnel with numbers should be checked regularly. After GMV target is realized, you can put extra target for each KPI.

Measure your activities! The best KPI is about what you can control! Have at least 20 steps on that sequence (cadence) Focus on a minimum of 60 activities per day 30 calls - 20 emails - 10 linked in messages And you will see your pipeline increase

Know the influencers in your pipeline. Example: In the world of building materials, many reps make the mistake of attempting to sell their products to architects. This is the wrong approach. Yes, architects influence the decision of whether your products end up in the project or not, but they do not purchase anything. Instead, with this segment, one should focus on the solution your product offers to a problem they face. Similarly, building owners do not typically purchase the material a building material company sells, but they do hold a lot of influence over the decision. In summary, know thy influencers and solve the problem that keeps them up at night.

"In today's competitive B2B world, gaining an unfair advantage is crucial for sales teams. By amplifying relationships, understanding intent, and personalizing your approach, you can set yourself apart. Monitoring key accounts and contacts for relationship triggers and buying signals is a strategic tactic to not only generate valuable leads but also alleviate pipeline anxiety. Stay ahead by leveraging these additional layers of insights to drive your B2B sales success!"

Personalize the manner in which you contact individuals. As Dale Carnegie famously said, we all love talking about ourselves. So, get the person to talk about themself, and remember to use that person's name as well. One's name is their favourite word.

I absolutely agree with the above comments, couple of more things to consider could be checking out the competition of you existing customers, focus on FOMO messaging while reaching out to them. Another aspect is asking for references from your existing customers