Prospect Research 101

By Andy Mowat | Updated: 03 Nov, 2014

Once your sales team is successfully outreaching to prospects, the next step to scale your sales efforts is to develop a list of prospects.

There are several success factors you should target when developing a list of prospects for your sales team:

  • Fit with Target Profile: Does your list of target accounts and titles match your target profile? If it doesn’t closely match, your response rates will be much lower.
  • Deliverability: Does your list have a low bounce rate / open rate? Provide your team with a list of valid emails so that they don’t waste cycle times on unreachable contacts.
  • Scalability: Can you scale the prospect research process to support your team’s demands for new targets?

Based on more than 500,000 hours of experience supporting sales teams, Prialto has developed and refined a top-to-bottom prospect research approach, outlined below. The following three posts will guide you through key steps for developing a scalable prospect research process, including:

  1. Building vs. Buying a list: Reviews the three key reasons why building your own list will result in better target fit, deliverability, and (through hard work) scalability.
  2. Targeting the right accounts: While many companies can sell you lists, we find a lot of the secret sauce is selecting the right accounts to target.
  3. Sourcing contact information: This is what a lot of folks call prospect research but it is just the last step. Once you have a list of target accounts, the process for finding contact information is relatively straightforward.

These posts will provide a great guide on the basics of prospect research. The next step is to scale this effort. The work to generate your own lists is inherently manual but by developing strong workflow, processes, and labor-management techniques you can quickly build a scalable process.

Read More: How Successful Salespeople Manage their Calendars

What You Should Do Now

If you need help with sales support, here are a few options to help you:

  1. Download our eBook "Spend More Time Selling with a Virtual Assistant" and get a better understanding of how a virtual assistant can handle tedious sales tasks to give sales leaders and teams more time to sell and take care of customers.
  2. Book a free consultation call with Prialto. We can help you regain more of your time to sell by offloading repeatable tasks to a fully managed virtual assistant. One of our experts will help you create a plan to delegate your tasks and we will even train your sales assistant for you.
  3. If you know someone else who’d benefit from sales support, share this post with them via email, LinkedIn, Twitter, or Facebook.