Hello internet since I’ll be coming back to work from paternity leave soon I thought this would be THE PERFECT OPPORTUNITY to share with you my Sales methodology for when you need to start from scratch and get your Sales pipeline moving quickly. I’ve been away from the office for about 30 days and need to start building pipeline fast $$$. While the following is my personal Sales methodology, it’s also perfect for new hires, as well as for any Account Executive who may have recently changed territories. This even applies to Sales Development Reps who want to ramp up their numbers. All I ask is if you find value in what you’re about to read, please share it and let me know your thoughts in the comments section below.
So without further adieu, here are my Top 3 Ways to Ensure Sales Success
Step 1. Assess your Total Addressable Market.
Take a look at the leads and contacts currently in your CRM and begin prioritizing where to spend your initial outreach efforts. Who do you have in your system now that you can reach out to immediately? Knowing this is vital to quickly building pipeline. One way to get up and running quickly to make sure you know how to build lead/contact reports in your CRM. Doing so will allow you to easily segment those individuals effectively. This process should reflect your sales process so be sure to do this on a regular basis. Bonus points if you come back to this on a monthly basis.
Here are 5 groups of leads you need to be reaching out to:
- Past prospects who reached out online or over the phone and requested to be contacted
- Past prospects who had downloaded content from your company’s website – This also applies to individuals currently subscribed to a newsletter
- Previous customers
- Closed lost opportunities you may have encountered
- All remaining leads based on last outreach activity date
Keep in mind B2B markets with high employee turnover (like Silicon Valley technology) often will see contact data decay rates as high as 70% per year. This means the majority of leads in your system may already be obsolete. In fact a Prospectify data study found that out of 1,000 random contacts, 4.5 percent of them were no longer valid after 28 days. This annual decay rate of 54 percent could lead to millions of lost revenue. As a result you have to have a process for adding net-new leads into your Sales outreach regularly.
Step 2. Prospect, Prospect, Prospect
Don’t let this step overwhelm you since there is an infinite number of ways to do this. To be effective and to help hold yourself accountable, my recommendation is that you block off time on your calendar for this activity to occur every day. Another benefit to blocking off time for specific tasks is that it helps to ensure you are not spending too much time and energy on any one thing. When it comes to prospecting here are 8 triggers you can utilize to ensure prospecting success. Utilizing these will help you to target the right accounts at the right time. I can’t stress enough how much of a factor timing is when it comes to Sales.
- Discover.org Scoops* Utilize intent data and buying signals to trigger your outreach
- New technology adoption This lets you know whether the timing is right to talk about either competing or complimentary products
- Regulatory requirements A change in regulatory requirements often require organizations make unplanned investments. Use these trigger events to your advantage by referencing them in your outreach
- Personnel change New hires or changes in senior management are all lagging indicators about the priorities of any organization
- Open positions Check your target account’s careers page. Job openings are leading indicators of corporate priorities and growth challenges
- Headcount This is as simple as keeping track of a company’s headcount, using – as a company’s headcount grows to your sweet spot number, reach out to them. For example when an organization grows from 50 employees to 100. Here are a few ways you can track this (LinkedIn, Company websites, Annual reports, Form 5500 for their retirement plan to see the number of eligible employees)
- Funding If an organization recently received a round of funding this can be an indicator of aggressive growth targets and potential to invest in new technologies or services – all of which you can use to your advantage
- Event / Conferences Events your prospects attend provide valuable insights into what issues they are facing. You can find a list of local events in your territory by running a quick search here in Google for upcoming events
- Vendor Dissatisfaction Monitor your competitors hashtags and social media handles by setting up alerts on Google and across social media, monitor these alerts closely. If your prospects are complaining or are dissatisfied with your competitors this is the perfect opportunity to reach out and address the reason they are dis-satisfied.
Forrester Research shows the odds of winning the sale are 74% when you reach your prospects at the right time and help set their buying vision. You can read about it here. Utilizing all of the above can help you win more deals.
Step 3. Execute
Once you know who you are going to reach out to and why, your next step is to craft your outreach strategy. To be effective contextually relevant messaging is a must, taking into account the most appropriate outreach channel. For example if your prospect is active on social media use that to your advantage. If you are not sure which method of outreach is most appropriate it is up to you to experiment and find out. Do your leads require personalized handwritten letters? Are they more open to engaging with you over a phone call or email? Do they require you to connect in person or will only entertain connecting via referral? These are all realities you need to take into account when conducting Sales outreach. You may find that they require many different methods of outreach before they even respond. BE WARNED It’s critical that you do not put all of your eggs in any one basket as it relates to outreach. While email automation technologies can be leveraged to great success, they can just as easily turn off massive amounts of prospects at scale if your outreach is not relevant. In fact, 43% of email recipients will mark emails as spam based only on the email address. — Convince and Convert. So, if email is not the most appropriate way to reach out to your prospects you may want to rethink how you plan to leverage automation technologies.
Truth be told there are no magic bullets when it comes to generating Sales pipeline fast. All potential customers are different. However if you use the methodologies listed above I guarantee you will generate client meetings at a faster rate and more meetings relative to the number of prospects you are reaching out to. Just remember relevancy always wins when it comes to Sales, utilize the above approaches and set yourself up for success both in how you reach out to your prospects and why you are reaching out to them.
Thank you for taking the time to read this. If you liked it please share it. Your feedback would also mean the world to me.