May 15 2019
As of 2018, about 124.5 billion business emails were sent and received each day according to The Radicati Group, Inc. And, teleprospectors often make between 100 and 500 calls for every qualified lead, according to SiriusDecisions. With so much noise in the market, how do you cut through the fray?
More importantly, how do you build the credibility required to have more meaningful conversations with prospects, keeping them engaged and persuading them to do business with you? Leverage industry research!
Here are three ways industry research helps you improve your credibility and have more meaningful conversations with prospects:
Understand Industry-relevant Buyer Pain Points
Building credibility with prospects requires that you have a deeper understanding of their industry-specific pain points and challenges prior to the call. If your approach is to call a prospect and dive straight into your product pitch, you probably get less than a minute or two before they rush you off the phone. But, if you do your research beforehand and gain a thorough understanding of their pain points and you can eloquently and knowledgeably discuss those pain points with them, you’re likely to grab their attention. This approach greatly improves your credibility as a salesperson because you’ve taken the time to understand a prospect’s challenges. The important, subtle takeaway here is that you wouldn’t be calling them if you didn’t have a solution to help.
Educate Your Prospect
The days of reeling off features of your product or service (especially on the first call) are over. Prospects can easily find this information on your website, but it does little to sway their decision to purchase. Instead, a more compelling and persuasive way of selling is to teach the prospect something about their own industry and its trends that they don’t already know. Access to industry research provides you with insight and analysis into industry trends, which you can leverage in your conversations with prospects. The aim here is to expand their understanding of a problem and teach them a new way of addressing it, which ultimately leads back to your solution.
Compare Your Prospect to Their Industry
To further support your credibility, it would be useful to benchmark the prospect’s business against the overall industry. The industry provides the baseline; whether your prospect performs at, below or above that baseline isn’t as important as your ability to discuss their performance relative to the industry. Of course, you’ll discuss their performance, but it’s having the knowledge to do so that underscores your devotion to helping them with their problems. Doing so further illustrates that you’re focused on them and not just trying to sell them on a product or service, which gives you a greater chance of having a more meaningful conversation and improving your credibility in their eyes. It provides you with the opportunity to create value around the product/service that you’re selling before you even mention it.
The moral of the story is if you want to improve your credibility and have more meaningful conversations with your prospects, then your primary focus should be on them and the problems they’re facing. This should genuinely tie-in and lead back to your solution and how it helps.
Accomplish these goals with access to industry research products, such as IBISWorld’s iExpert summaries and our Salesforce app “Call Prep Insights,” which provides you with the data and insights needed to make your first call sound like your third.