How to Research Prospects Before a Sales Call

When you go about getting prospects the wrong way, your results will be below expectations. So instead, let’s talk about the right way to go after prospects. It’s all about the warm calls over the cold calls. Here are the best tips to help you research your prospects:

Online Research

Research will allow you to have a better understanding of the company you’re calling on, which will lead to a successful conversation with your prospect. This information will let you personalize your pitch to create a unique connection and build rapport with each prospect. Not only will you grab the prospect’s attention by “due diligence” demonstrated, but they will be more likely to listen to what you have to say! Perhaps even more important- research (i.e. qualifying) will offer insight into whether a prospect remains pursuable.

There is plenty of publicly available information online. Researching a company on LinkedIn is one effective way to acquire valuable information. For example, the company page typically showcases their services and industry-related articles, as well as a list of their awards and achievements. Browse the company website to explore their mission statement, published blog content, or a staff list. This list may identify their name and title, which will help in determining who the right contact is.

Research Through Engagement

Now, not every piece of information is going to be readily available on your prospect’s website or online. Your company’s CRM or prospect spreadsheet should contain a record of previous phone or email interactions. This can effectively help you set up a personalized talk track, which will lead to a warmer call. To qualify a target, search through your notes for qualification data points, such as staff size, whether they buy the services you are selling, and satisfaction with their current services.   No prior notes? Start building them by making some phone calls.

Helpful Tips for Setting Up Your Call

Tip #1: Time is precious. Allow yourself time to research information that will be most crucial for the call. You may find yourself losing track of time during this process, so try to avoid spending too much time on one company. Just like the Law of Diminishing Returns, there will come a point where you’ve exhausted all research tactics and no new information is being found. To maintain a solid level of productivity and efficiency, limit your research to a set interval of time — typically a few minutes per company, especially if you’re working from a large list. Spend more time on the top 20% of your targets.

Tip #2: Ask or confirm. While contacting your prospect, ask or confirm the key points necessary to qualify a target, starting with the Gatekeeper. Note that not everything online is accurate, so you will have to validate the information you found. For the information you don’t have yet, create a talk track that will allow you to acquire those details. It’s better to disqualify them early on than to waste hours prospecting incorrect targets.

Tip#3: Listing out information. Once you gather your data for the company, organize your findings. Outlining your information in easy-to-follow bullet points will help your conversation flow smoothly. Highlight certain keywords that may jog the prospect’s memory on previous interactions. Mark the information that has been confirmed. Since you most likely have many different prospects, adding this research to your CRM is a good way to stay organized. At the very least, work from an excel spreadsheet, with a Notes column and “last result” column to add your data to.

In conclusion, in this new age of Sales, research is king!  The more you know about a prospect and their company, the easier it is to create an engaging call that will, in time, lead to success. Gather pertinent information from the company’s website and social media platforms to gain an overall understanding of their organization and the decision maker(s). Utilize internal information found in your CRM for insight on previous interactions to give you an idea of what to expect on your next call. A well-timed call coupled with valuable information to show you’re well-researched, will yield more opportunities, stronger relationships, more sales appointments, and finally, more sales!

Schedule a consultation today!