Smart B2B Prospecting

3 ways to dig up gold instead of mounds of dirt

Part II of II

by Andrew Paulsen

The first part of the two-part article looked at finding and building a target list. After you create the list, you get to work on finding the right people to contact and decide whether to start with the user buyers or economic buyers. Time to address the other two steps: cold emailing and combining methods.

Enter cold emailing

Cold emailing uses the same skills as those in traditional cold calling. Email provides an alternative way to communicate, and a sales person can maximize productivity by combining multiple contact methods.

By this point, you've created a well-defined and high-quality target list. Not only do you know what companies you're contacting, but also who you're going to contact. Here you combine cold emailing with cold calling skills to make contact and start a dialogue.

The purpose of this dialogue is to give you the information to decide whether or not the target company is qualified for your product or service. As soon as someone in the company shows an interest, then the target company turns into a true "sales lead."

Once you have a true sales lead, the prospecting process ends, and the sales process begins. Smart prospecting is your first step to successful sales and should be given just as much attention as managing the sales processes.

If you're already cold calling, you can use the same criteria in deciding whom to “cold email.”

Step two: Cast a wider net with cold emailing

Unlike cold calling, you can email a few people within the same company at the same time. This helps you in two ways: It increases your chances of getting a faster reply and of finding the best person to contact. Also, if done right, the email can create a "buzz" about your product.

However, there's such as thing as too much of a good thing. Emailing too many people within the same company could damage the integrity of your message. Your email could be perceived as a marketing-type communication (read: spam) rather than a personal communication. As a result, your credibility becomes diluted.

When you don't know the name of the person you're emailing, you can work around this: Email someone within the company whose name you found on the target list, company Web site or another information resource. The key is to show potential value and politely ask for the name of the right person.

Set a goal for your first email

The goal of the first email is get a response even it's negative, as a response opens dialogue. It establishes your initial relationship and leads to a phone call or a meeting. To accomplish this goal, do three things: 1) create interest; 2) create a personal connection; and 2) create a reason for them to respond.

Create interest: You can use any of these tips or a combination of them to grab attention and start a dialogue with the people you're trying to reach. Each email could use a different technique or you might discover one works well for you.

Keep it short: The email should have no more than three or four sentences sent in plain text without images or attachments. Avoid including boilerplate marketing information.

Limit the information: If it’s too long, they won't read it. Keep it short to give them just enough information to get them interested and have them connect with you.

Personalize, personalize, personalize: Personalizing the email comes from researching the company and the person. Read their Web sites, use a search engine or an information resource like Hoovers. This lets them know you understand their business and have done some research on their company.

Include a common contact: If you know anyone at the company, have received a referral or have corresponded with someone, use his or her name in your first sentence — even if you’ve briefly connected with the person.

Create a personal connection: While learning about the persons or business, let them know about anything you have in common with them. Try to make some type of common connection either on a personal or business level.

Name their competition: If you have a customer who's your prospect's competitor, let them know it. Prospects want to know if the competitor uses your product or service to make sure their competitor doesn't have an advantage.

Prior contact: If you've had contact with them in the past, let them know upfront. This can be a voice mail or something you sent. It demonstrates your persistence and resourcefulness in creating dialogue.

Use flattery: Read through their press releases and flatter them with any recent achievements. This illustrates your respect for their company as well as shows them you took the time to get to know them.

Illustrate your knowledge: By showing you have specific knowledge about the company and its industry, you gain credibility and perhaps pique their interest enough to get an appointment.

Talk benefits, not features: Let them know the result of using your product or service — how it solves a problem or reduces headaches.

Show how you can help: Remember that you are communicating with individuals who have personal goals they’re trying to accomplish on the job. To find out their personal needs, you need to speak with them and then tailor your presentation to meet those personal needs. However, based on their title and job description, you should get a good idea as to how your solution can either make their lives easier or make them look good.

Create a reason for them to respond

The goal is to get the target recipients to respond to your email. End your email with an open-ended question to compel them to respond.

Offer your knowledge and ideas: You are an expert in your field, and you have some interesting ideas on how they can save on expenses, increase revenues, increase efficiencies, better compete in their market, etc. ... Think of yourself as a consultant who is offering them free consulting. Let them know they can gain new knowledge and ideas by speaking with you.

Offer to send something: Try this approach: "We have created a best practices booklet on utilizing the Internet for customer support. Would you like me to send you a booklet?"

Leave out key information: Another way to illicit a response is to provide some information, but leave out a key piece of information, such as how much your product costs, how much money you can save them or the names of their competitors you have worked with.

Ask a question: This approach is more direct and to the point than the above techniques, which are more subtle because you are just looking to engage them in correspondence. Asking them a qualifying question can yield results, but the danger is that it gives them the opportunity to disqualify themselves before they fully understand what you have to offer.

When you get a reply — even if it's insignificant or negative — you've started a dialogue with that person and you're on your way to mastering the art of cold emailing!

Step three: Combine methods

Cold emailing doesn't have to stand alone. It's another tool in your communications box, which could also have cold calling, snail mailing and meeting in person. Whichever works best for you is the best combination.

When you send your prospects a cold email or marketing kit before calling, they might warm up to your cold call and be more receptive. If you leave a voice mail before sending an email, they're more likely to read your email. You get the idea how combining these methods works.

Which method should go first? Connect first through a message, whether by email, voice mail or snail mail. This helps you avoid catching them unprepared. If they're busy or having a bad day when you reach them, they can abruptly cut you off, and you may not have another chance to get their attention.

The main goal is to reach your prospects and qualify or disqualify them within a short time frame. However, it could work against you if you catch them 100 percent cold on the phone without a warm up. Also take care not to bombard them with multiple calls or emails in a short time.

Experiment with different methods, and you'll find a prospecting system that yields gold. Create a strong target list, use cold emailing and follow up by combining methods. Most people are impressed with persistence and creativity in reaching them. When this happens, they're more likely to give you an opportunity to present your solution. Prospecting is an art that takes work and time to master. There's gold in them thar cold emailings. Push on and be persistent — those big deals are closer than you think!

About the author:

Andrew Paulsen is a technology licensing professional based in San Francisco with 10+ years of strategic selling expertise in creating and closing new business with both direct enterprise and OEM clients. He enjoys putting together multinational deals between U.S. companies and companies based in Asia. Andrew has used his prospecting skills to break into some of the largest software companies in the world such as Microsoft, HP, Symantec, Google, HP and Yahoo! His new startup, www.emailretriever.com, helps sales professionals get their foot in the door. He believes that with the right product or service and a well-thought-out strategy, a good sales professional can get a high-level meeting with any company in the world!