Prospecting is vital to businesses, especially the small ones, because it’s how sales teams find new customers and opportunities to boost revenue. It involves cultivating relationships with potential leads, guiding them from initial interest ("desire" phase) to active engagement ("action" phase), where they consider or directly inquire about your products or services.
Today we’ll go through the tips, tricks, and insights along with sales prospecting strategies for small businesses. We will also recommend a few tools you can use to get the job done and done well. Don’t let the words “prospecting” and “lead generation” intimidate you. Armed with the knowledge you can get from this article, you’re bound to be a great success in your ventures. Here we go.
For small businesses, effective prospecting requires careful research since resources like tools, sales staff, and time are often limited. It's crucial to ensure your efforts lead to success most of the time. Building on this, assembling a small, research-focused sales team, even with just three members, can significantly enhance your results.
Once you have your team in place and after they’re briefed on the mission, train them to calibrate the knowledge and SOPs you have in place. Retrain them every now and then as well to keep their methods and approaches fresh. They may also have gathered valuable information while prospecting, so brainstorm as a group from time to time, too. Keep the knowledge and information flowing in a circular motion so no one is left behind. With your team assembled and armed with prospecting know-how, let’s move on to the rest of the article…
Before you get started with anything, take a close look at your products and/or services. List out what you can offer, capabilities, and other benefits customers and clients may enjoy should they engage with your brand. Next on our list of sales prospecting strategies is identifying your target market. Doing this narrows down your field of focus, allowing you to better understand the people you’re in contact with and giving you all the time you may need to address their pain points more effectively.
Your target lists, being one of the best sales prospecting strategies out there, should include the following prospect types or segments:
Existing customers
Past buyers
Old leads and prospects
Social and community networks
Decision-makers (Best for B2B sales prospecting approaches)
Once you have your profiles or lists built, take a look at your team. Divide your lists among your prospectors, assigning them to the leads they’ve had or are likely to have great results in. You have to pair up your team members’ skills with the challenge for maximum success.
Lastly, it’s important to conduct regular reviews on your prospects to see if they are still hot or if anything in your reference materials needs to be updated or adjusted. Customers’ needs change and your products and/or services evolve in the same way. That’s why it’s important to meet on those two things with your sales prospecting team periodically.
Research, research, research – this is the magic word and may be one of the best sales prospecting strategies for small businesses. Each shot counts; that’s why every contact attempt needs to pay off. Every bit of information that you gather at this stage is crucial.
When researching your prospects, you may want to find out the following:
Industry you service
Buying trends (search engine trends and social media engagement in your area)
Business size you wish to engage with
Main pain points and common needs
Social media activity (follows, likes, comments, reposts, etc.)
Community groups
Networks (industry and social)
Strive to connect with decision-makers early on in the conversation. Build rapport and position your products and/or services to meet their needs and alleviate their frustrations.
Keep your prospects separate by batching them in groups depending on the industry they belong to, location, organization size, etc. Batching is one of the prospecting strategies in sales that makes it easier for businesses to assign a prospecting specialist or sales and marketing manager for the best outcomes.
Remember to import all of your new research into your existing CRM data pools as part of your sales prospecting strategies. Prospecting is not a one-time event. It should be a priority, a regular activity conducted with your team. This keeps all your information fresh, which, in turn, ensures that all your efforts are rewarded.
Prospecting campaigns or display prospecting, as they are sometimes called, is a coordinated campaign that entails multiple contacts with the prospective buyer using various channels. Sales prospecting strategies to secure a meeting usually take an average of 8 contacts. Teams should be prepared to do more to secure a meeting, and it all depends on the industry and the actual company you’re looking to tap into.
Campaigns include a variety of communication methods – emails, phone calls, video conferencing, in-person meetings, and many others. Designing your campaigns means scheduling which communiqué comes out at which time and who’s in charge of that along the follow-up. Keep in mind that your campaign needs to be carefully coordinated, with each message tailored to capture the attention of the particular recipient. Every message needs to be unique and carefully crafted to convey your meaning without being pushy, insistent, or rushed.
Store all of these campaigns along with your notes and every piece of pertinent document in your team drive, making resources and reference materials available for access to everyone on the team. Be as graphic and demonstrative in your instructions as you can be. The more extensive your citations and sources are, the less room you have for unnecessary questions as well as misinformation and misunderstanding.
Understand that each client is distinctive with their own needs and pain points. These, teamed with current trends and other drivers should be factored in when analyzing how to go about your B2B sales prospecting approaches.
Here are a few discussion points that might help you in planning your sales prospecting strategy. Ask your prospects why should they:
Act to fill their needs with your products and/or services.
Do anything now of all times?
Come to you with their needs and frustrations?
Trust your company?
Included in sales prospecting tactics for small companies is asking open-ended questions and leading the prospects and clients to come up with the information on their own. Your job is slotting your company and everything that you are capable of doing into the position of being the answer to these needs and pain points.
Part of sales prospecting strategies for small companies is planning for and overcoming objections. The best first step to handling objections is identifying and understanding where they are coming from and the motivations and reasons behind every “no”. How you respond and how you counter these objections depends on how well you comprehend the “why”.
Go back to your CRM and look for the common prospecting objections you and your team usually receive. After you’ve compiled a list, take a look at your products and/or services and enumerate the many ways you can respond and contradict these objections. Once you’re all set with your lists, you can employ the five-step process for responding to objections:
Practice active listening after asking for their reasons
Repeat what you heard and ask clarifying questions
Stop and think. This is important. The instinct might be to respond right away but doing this can be detrimental. Take the time to consider the reasons for the objection and formulate your answer. Sometimes all you get is one shot
Handle the objection
Check to see if it paid off by asking if you were able to answer their questions and if they have any concerns.
Should there be any, and sometimes there are, continue to handle any succeeding and outstanding objections from your prospects. Ask pertinent questions and choose an answer from your prepared solutions. Or you can always make something up on your own – a good practice for thinking on your feet.
How you respond to objections can be the make-or-break part of your sales prospecting strategies. Since buying reasons are ever-changing, you can expect objections to evolve in the same manner. For this reason, you need your responses to objections are constantly updated. Create a special section in your company knowledge base, including all the methods for how to improve sales prospecting in small businesses. This way, your team will have something to come back to time and time for guidance, insight, and knowledge.
In everything, we all like to know what we’re getting ourselves into. This is essential when investment money, revenue, and brand reputation are at stake. You can’t expect to just walk up to a prospect and have them melt in your hands like putty without a few discussions. They have to know what you and your products and/or services can do for them.
Here are some of the key strategies for successful sales prospecting by offering what you’re capable of:
Offer something that adds value to your approach that your buyer can easily accept (a webinar, presentation deck, or marketing material, to name a few)
Drive value further by offering ideas on how they can achieve success in their field with your help
Share insights on how others are using your products and/or services that are contributing to their increased revenue
Give prospects tangible and accurate numbers to illustrate the results (ROI) that other businesses have enjoyed thanks to your products and/or services
Provide them with a list of your capabilities. Make sure that the same list can also be found everywhere else: your website, social media platforms, ads, and the like
Give demonstrations
Think back to the days of TV shopping with all the cliché catchphrases, corny taglines, and exaggerated video dramatizations. Have you ever wondered why your mother, grandmother, or aunties are always so hooked? It’s because they can see how things work and how these clever little gizmos can make their lives a little easier.
In sales prospecting strategies, nothing much can be deemed more effective than giving buyers irrefutable proof of what your products and/or services can do for them. This can be done by hosting a webinar by yourself or tapping someone else in the team for the honors. You don’t have to include actors or over-the-top demonstrations. However, your webinars have to be engaging, instructive and persuasive.
Here are some of the things that you need to touch on in your webinar:
Introduction to your product and/or service:
What motivated you to come up with your product and/or service?
What inspired you to build a company around it?
What are your brand values?
What do you stand for as a company?
A rundown of your product components
A list of services that you offer
Capabilities and limitations (if there are any)
Solutions that address your audience’s pain points, interests, or challenges (the webinar should be customized for each buyer group or segment in your prospecting or target list)
Testimonials from existing clients
Keep your webinar engaging, memorable, and interactive so you can keep your audience’s attention. Use stories, visual examples, and personal anecdotes to keep things light and fun. Save some of your time for a Q&A session before wrapping things up.
Let’s be honest. We need all the help we can get when it comes to business. This includes using technology to our advantage. Thanks to advancements and developments in recent years, there are small business prospecting tools that can be used in several industries. A sales prospecting tool is software that can help you and your team with the following:
Streamlining prospecting and lead generation tasks
Finding emails and identifying decision-makers and top buyers
Automating workflows and sales processes
Generating and qualifying leads
Verifying email addresses
Analyzing sales data and trends
To maximize your sales prospecting strategies, look into possibly acquiring sales prospecting, communication, and collaboration software from the same provider. Doing so also minimizes the point of contact should you need assistance or run into issues while using their product.
The top tip to add to your sales prospecting strategies is to follow up regularly or, at least, consistently. If your initial meeting ended on a cliffhanger or somewhat of a stalemate, check in on them occasionally. Each time you come back, ask questions to determine where the hesitation comes from and offer a solution.
The key to customer acquisition strategies is never leaving a meeting without a solid answer or a scheduled follow-up, at least. Let them know that you will be in touch and when. This shows your prospects that you are committed and that you believe so much in your products and/or services that you want to prove to them that they are the best. Regular check-ins create a sense of trust and build rapport. This is useful when you perceive that a buyer needs more of a personal, emotional connection to a brand before actually purchasing. You’re able to build a relationship with them, a partnership, before the actual acquisition.
Do you want to make your clients your partners as well? Do you want to build a community with the people you provide service to? Be sure to add asking for referrals to your sales prospecting strategies. You can be as creative as you like when asking so as not to seem too forward, eager, or pushy. If this is not something you’re comfortable doing, maybe asking your clients and customers for testimonials instead would be a better route.
Keep in mind that one of the best marketing tools you can use is word of mouth or a customer singing your praises. Ask them if they can write something for your brand that touches on how your product and/or services have helped them. Whether it’s in their business or personal life, give them the platform to talk about your brand and shed a positive light on what you’re capable of. You can turn their words into an infographic that you can post on your social media accounts for the public to see. You’ll find that you won’t even have to do much of anything else.
You can strategize to your heart’s content, but your best effort can only be as effective without the necessary tools to complete the endeavor. The good news – especially for small businesses – is that you can enjoy an arsenal of effective prospecting tools for affordable prices. Also, all you need can be provided to you by one reliable and efficient company. This way, you not only save on money. You save time as well!
Bitrix24 has just about every tool you may need for prospecting and lead generation. Partnering with Bitrix24 is not only cost-effective and time-saving for your small business prospecting needs; it also offers convenience, enhancing your team's efficiency and productivity. If you want to have a strong start at prospecting, sign up today and enjoy the benefits of Bitrix24!The most effective sales prospecting strategies for small businesses are:
Create prospecting profiles or target lists
Research on prospects extensively
Innovative sales prospecting ideas: Design your campaigns
Create a master plan for your approach
Draw up a plan for overcoming objections
Provide data and facts about your products and/or services
Include hosting a webinar in your list of effective sales prospecting methods
Get your hands on small business prospecting tools
Be consistent with follow-ups
Ask for referrals and offer rewards in return
Small businesses can implement sales prospecting with limited resources by:
Conducting extensive research when building your prospecting profiles
Getting resource tools such as software and apps from one provider
Leveraging social media and local communities
Pairing prospectors with target lists they’re likely to have success with
Using both online and offline prospecting tools
The common challenges in sales prospecting for small businesses and how to overcome them are:
Lack of trust = Build rapport and a relationship
Objections = Listen actively and address one by one
Lack of faith = Host a webinar or a presentation to show what your product and/or services can do
Lost interest = Follow up consistently
Long sales cycle = Automate when you can and remove redundancies in the cycle