Empower Your Finance Team with the Best b2b Sales Prospecting Tools for Finance

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b2b sales prospecting in this video you're going to learn exactly what it is how it works and how you can leverage this to generate meetings with your dream clients and close more deals and you want to make sure you watch this video until the end because if you are starting out in sales or you're looking to get a sales job sales prospecting is one of the most important and critical skills you need to actually succeed on the job [Music] what's going on everybody it's patricking here make sure to give this video a like subscribe and turn on notifications if you want to see more videos like this and with that said let's go ahead and dive in alright so what exactly is b2b sales prospecting and the definition we are gonna use is the process of identifying and reaching out to potential clients now to further explain exactly what b2b sales prospecting is let's go ahead and give you a real hypothetical example let's say you're starting out your career as a junior sales rep or maybe a sales development rep business development rep and it's your job to generate meetings and let's say you got a job at this company called intercom right and if you don't know intercom they're basically a startup or another actually a larger company where they sell this software that allows people to have a little chat box on their website so as you can see this is basically the product that you see on the right side so if you want to send someone a message that works on intercom you can say hey just browsing and then essentially it's a chat bot that will talk to you and try to understand who you are and what you're interested in and potentially they're trying to build a relationship and close the deal with you right and to give you an idea of what pricing is like for a product like this you know minimum it's going to be starting at 500 a month including 10 seats right so for other companies let's say if they're selling into let's say a nike or they're selling to microsoft or you know a large company like that you know if they sell if they break into these companies a deal might be thousands of dollars per month and it could be even over a hundred thousand dollars per year for a software like this so if you are starting out as a junior sales person at intercom what exactly would you need to do and what would you need to know to actually succeed when it comes to your role in b2b sales prospecting now because it's your goal as a b2b sales prospector to basically generate meetings with potential customers and get them on the phone and eventually close a deal the first thing you really have to do is you want to identify your top customers right so if you are let's say getting a sales job and you're trying to work at a company that's already somewhat established and they have paying customers what you want to do first is you want to understand who are these customers that are paying the most money right because you want to take the best customers and you want to replicate that success and you want to find more people who are just like those paying customers right so first thing on the job or let's say the first 30 days you want to ask different people at the company hey who are our best customers why are they paying us so much money what pains and challenges did they have before they started working with us and how did our product or service make those problems go away and basically you want to take notes on the answers to all these questions and then you want to say okay now once you identify the pain and solution and you understand what value you truly bring and why people should take a meeting with you and buy from you that's going to be your north star right that's going to be the guiding principle behind all of your sales prospecting understanding the pain and understanding the solution to those pains and how you provide them now the next step of the process is to actually use those pains and find more similar companies who have a similar problem to your top customers right so basically and like i said before you are replicating your success you're understanding why people bought in the past and you're finding more companies who are just like the people that bought from you and maybe they don't have a solution yet and you want to reach out to them build a relationship and potentially maybe they're going to buy from you so for example let's say you have nike as a client right well who are the companies similar to nike adidas puma new balance timberland right so essentially if nike bought for a certain reason maybe they have a certain problem other companies in the similar space who are direct competitors to that customer may also have a very similar problem that you can solve so a lot of times when you break into one customer right or one type of customer like let's say a nike it's a lot more easier to break into an adidas or a new balance or something like that because you can say hey you know we're helping nike do xyz they're getting a lot of great results just curious are you interested in doing something similar and if you know they're uh want to stay competitive in the market well they may actually take you up on your offer and take a meeting with you it doesn't mean they are going to 100 buy but they are more likely to be interested in what you have to say and you know even if you're not selling into a large company like nike it could be let's say yoga studios right if one yoga studio bought a certain software to manage let's say their administrative work well probably there are a lot of other yoga studios who have that same problem that you can reach out to and say hey you know we help this yoga studio they're very similar to you and just curious to know if you would be interested in talking more about how we might be able to help you with your admin work right very simple now the next step of b2b sales prospecting is how do you actually get a meeting what are your methods or tools you can use to book a meeting with your dream clients and potentially close them well the three big ones that are working right now are going to be cold email linkedin and cold calling each one of these strategies are going to have their different strengths and weaknesses and depending on what you're selling and your industry that you're selling into one might work better than another so you might find that you know cold emailing works very well in one industry but maybe it doesn't work in another and you might find that cold calling let's say in real estate and you're trying to talk to real estate agents might work really well but maybe linkedin doesn't work for these kind of people right so it really just depends on what's working in your market right now and the best way to really discover what's working is to actually go on google and you type in what are the best ways to generate leads in xyz industry and from there you start to get an understanding of what works in your industry and that's the one i would recommend you choose but regardless of methodology you use to actually generate the meeting you have to understand that all these approaches are going to be cold and when i say cold it means that the person doesn't really know who you are they don't know about your product and servers and most of the time when you are reaching out whether it's let's say a cold email or cold call that's the first initial contact or first exposure they have to your brand and so when you're prospecting in this cold way you know it is cost effective in that you don't have to do any marketing you go straight to the source however you have to understand that you're going to get a lot of no's right you're going to get a lot of people who are not interested because they don't know who you are even though you get a lot of no's you're also going to get some yeses and you only need a couple yeses to make the entire process worth it for example if you are reaching out to a hundred different yoga studios and let's say only five percent of those people actually respond and take a meeting with you out of those five let's say two people actually buy your software which might equate to thousands of dollars per month so reaching out to 100 and maybe only to buy that's totally okay because you might find that hey you know it didn't really take that much time to email those 100 people and working on those deals and generating thousands of dollars per year just from selling to that yoga studio may make the process completely worth it right so as long as your company or business or wherever you're working at um has the economics right you know this process can be very well worth it and especially if you are selling to enterprise let's say you're selling into let's say a microsoft or salesforce or oracle and you know you sell something it might be hundreds of thousands of dollars per year well um even if you reach out to uh you know hundreds or thousands of companies even if you just got one or two deals of that value it makes the entire process worth it and that's why b2b sales processing is one of the most important skills right now because a lot of startups and software companies and consulting companies admit basically any type of company who are selling something very expensive and people are spending thousands of thousands of dollars per year on this stuff well they need people to actually generate meetings and generate potential opportunities to actually generate business and if a company cannot do b2b sales prospecting and they don't have any marketing well they're simply just not going to generate any revenue and that's why as a salesperson especially if you're starting out if you got the skills to actually generate meetings with the right people well you never have to worry about getting hungry because this is a skill that's in high demand and people absolutely need this to generate revenue and so with that said that is going to be b2b sales prospecting if you enjoy this video make sure to give it a like subscribe turn on notifications if you want to see more videos like this and make sure you check out my other sales videos and let me know in the comments what's the number one takeaway that you got from this video and let me know what your challenges are when it comes to b2b sales prospecting or maybe if you're trying to start a sales career because i'm always interested in hearing what your challenges are so i can help you with a video with that said my name is patrick dang and i'm gonna see you guys in the next one