Prospecting – it’s critical for a robust sales pipeline, but it can be time-consuming and cumbersome. Reps often spend at least two hours a day researching prospects, but too much time spent could actually be call reluctance in disguise. Meanwhile, according to CRM and automation platform Salesmate, 40% of reps say prospecting is the most challenging part of the sales process.

But with a checklist of information to glean, the process can be more efficient. Here are seven steps to researching each prospect to determine if they’re worth pursuing, which gives you the option to either reach out or move on to a more promising company. And that’s important, since at least half of all prospects won’t be a good fit for what you offer, according to research by Sales Insights Lab.

1

Note prospects’ company basics.

Begin at the top and determine where they’re located, number of employees, leadership names and titles, financial status, products/services and if they’ve worked with any competitors. This will not only ensure you’re informed when you reach out to them, but can also help you decide if they’re worth pursuing. If you find evidence that they’ve been in financial trouble before, for example, tread carefully.

2

Explore their social media.

Social media is a gold mine of information about prospects – their people, culture, offerings, branding and engagement with the public. Check out their platforms and see how active they are, and head to LinkedIn to do some research on the people who work there. That will help you figure out key contacts and possibly even the decision-maker down the line.

3

Look for past interactions.

Dive into your company’s CRM and see if anyone else on your team has reached out to the prospect. If so, find out how long ago, how they were received and where they fell out of the pipeline. Things may have changed since the last time someone contacted them – there may now be an opportunity to move them further through the sales process this time around.

4

Research ‘trigger events.’

Take a look at the prospect’s website and social media and do a quick Google search to find out if they’ve recently had (or will have) “trigger events” – important occasions like grand openings, product launches, rebrands, volunteer efforts and employee initiatives that you could possibly help them with. That will inform your initial reach-out to them and give you a concrete example to start from.

40%
The percentage of sales reps who say prospecting is the most challenging part of the sales process.(Salesmate)

5

Analyze prospects’ industry.

Familiarize yourself with their specific sector, using their website and even B2B resources that cater to companies in that market. Do they face specific challenges? Have there been major changes in that industry recently? Is there specific language that you should be familiar with? Having baseline knowledge of their day-to-day reality will help you make in-roads quickly when you reach out.

6

Check out reviews.

Find out what both employees and customers are saying using sites like Glassdoor and Yelp, respectively. You can quickly find feedback on how the company operates and what clients think of their products and services. If a staffer expresses disappointment in the welcoming and onboarding process, for example, it could be an opportunity for them to boost engagement early on with promo.

7

Identify similar clients.

Take a look at your firm’s portfolio of accounts and see if you or a colleague work with a comparable company – perhaps they’re in the same industry, offer a related product or service, and/or have related needs based on past and upcoming events. Analyze the success you or colleagues have had with the current client, and use that to guide your interactions with this prospect.