How To Research A Prospect In Sales (Before You Call Them)

If you work in sales, chances are you've winged it before. 

Yes, it can work sometimes, and yes it's good to take initiative and not overplan at times - but too many salespeople make the mistake of downplaying the value of research. When a prospect picks up the phone, they're thinking:

• "Can I trust you?"

• "Can you impress me?"

• "Are you going to add value?"

• "Do you know if what you're selling me is relevant?"

• “Can they handle my objections?”

... And a large part of easing these concerns is through doing your homework.

Too many salespeople assume that as long as they know their product inside and out, they can sell to whoever. Product knowledge is crucial, but so is knowing who will buy your product. Knowing your ideal client will help you know who to target, and when you do target them, you know how to persuade them that the product is of benefit. 

No prospect is the same and you could have a well-crafted, engaging pitch but if that pitch doesn't include personable aspects about the stuff you know about the prospect, their pain points, and how your service can solve them, it may not go as well as you originally anticipate.

However, you don't want to spend hours researching one prospect, nor do you want to get to the end of it still not knowing enough about them. Here are some practical tips to quickly and effectively research your prospects before making the first cold call.

Research the Company

Before you do anything, get a feel of who the company is. 

Start by delving into what products or services the company offers. This will give you valuable insights into their business model and how your offering can be relevant to them. Also, take note of:

• Size of the company

• Structure

• The industry and its current market

• Goals and vision

This will allow you to position your offering in a way that addresses challenges, making you sound knowledgeable and trustworthy, and helping your pitch be more compelling.

Identify the Decision Maker

It's all well and good researching the company but when you reach out to them, will you be reaching out to the right person? 

Reaching out to the right person in the organisation can make all the difference. Use LinkedIn to identify relevant decision-makers within the company. By ensuring that you're speaking to the right person from the outset, you can streamline the sales process and increase your chances of success. 

Of course, if you're unable to connect with the ideal contact initially, make it clear in your call who you'd like to get introduced to during your call so you're not going around in circles (or having someone hang up on you).

Identify Pain Points

Once you've got an idea of the company, find out what problems they may be facing that are relevant to your product or service. 

This means that instead of rambling on about what you're selling, you're able to ask questions that will help you start the problem-solving process. By framing your conversation around addressing their pain points, you can position yourself as a trusted advisor who is genuinely invested in their success.

And of course, each person's pain points will be different and you can demonstrate genuine interest, building trust in the long run.

- Written by Arun Sutton

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