By Pat Hinds
In part 1 of “It’s all in the Title” we talked about the importance of goal setting for call volumes, connection rate and number of leads prior to starting your prospecting. You also need to make the commitment to call multiple contacts within an account (“3×3”) and use your existing contacts and titles in your database to help identify target contacts and use your CRM for detailed reporting.
The next step of the process is sourcing contacts to achieve your call volumes and using the data to build a customer finger print to help improve your conversion rates.
The ability to achieve call volumes is easier now with all the web based sales 2.0 tools available. Sales people will often shy away from these tools because they do not want to pay the monthly subscription cost; my recommendation is pay the money. The 5 tools that I have open and use on the majority of my first calls are SalesForce.com, InsideView, Jigsaw, Linkedin and Google.
Step 1 – Target company is loaded into SFDC, copy the name of the company and run a query within InsideView. You are able to mash-up InsideView within SFDC, but many of the clients I have do not have a subscription; as a result, I use my instance of InsideView to run a query.
Step 2 – If you get a company match within InsideView I move some of the data back (company description, employees, revenue, parent account) to SFDC because you have a 10% chance of connecting with the target prospect; as a result you will want to do your follow-up call directly from SFDC to save time. Select the people button within InsideView and start your search for titles that are relevant to your target market.
Step 3 – If you identify a contact, prior to moving the data into SFDC you want to qualify that person is still with the company. I do a quick person search within Linkedin to see if I can make a match; I will also do a quick search in Google. If you get a positive match I will make the call and move the data to SFDC; if I get a negative match I will still make a call, but I am prepared for a false positive and focus my efforts on working with the receptionist using the title of the false positve contact to help explain to the receptionist who or what department I am looking to contact.
Step 4 – Repeat the process in step 3, but with Jigsaw. If you want to download the contact prior to validating they still work with the company and you find out the contact does not work at the location, make sure you tag the contact as not working with the company within Jigsaw and they will credit your points back.
Improving Conversion Rates
When I first started selling computer networks, customers would provide an overview of their existing network and I did not have to draw a picture or take notes because I could create an image of what the network looked liked in my mind. The reason I could do this is most LAN networks were designed using the same blueprint; as a result you get pretty good at understanding how they are designed.
This is the same case with company organizational structures when they are in the same industry. The titles may vary from organization to organization, but the functionality they are trying to achieve from business units are similar. When you collect the contact data from your sources like Jigsaw, InsideView and Linkedin you need to be putting the pieces together from the titles of the people you are calling to create an image of how you think the company is organized.
When you figure out the organizational structure of a particular vertical you can use that information to help speed up the customer acquisition process. When you call reception you can ask for departments and often you will be transferred to an admin within a department and that can can be a good thing. You can source contacts within Jigsaw and other tools faster because you know who you are looking for and you can do different search combinations within Linkedin to improve results.
This is the essence of sales 2.0, higher call volumes to a more targeted audience.
Topics: Business Intelligence