How to Set Up a Great B2B Prospecting Strategy?

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Written By Eric Renaud

Don’t be fooled by the B2C world. Prospecting is just as important (if not more so) in the B2B realm.

It can be easy to get bogged down in sales tactics when you are selling to other businesses. After all, the stakes are higher and one wrong move can mean losing a valuable client. But don’t worry – setting up a great prospecting strategy doesn’t have to be difficult.

What is a B2B prospecting strategy? Why do you need one? And how to go about creating and implementing it?

In this blog post, we’ll cover the basics of B2B prospecting and answer all of these questions. By the end, you’ll have everything you need to get started on your own B2B prospecting strategy.

So read on, and start reeling in those hot leads!

What is a B2B prospecting strategy?

What is a B2B prospecting strategy?

A B2B prospecting strategy is a plan for how you will find and target potential leads for your business.

It should take into account your ideal customer profile, budget, and resources. And it should lay out a clear process for how you will turn prospects into clients. Generally, a B2B prospecting strategy should include:

  • Goals and objectives: What do you want to achieve with your B2B prospecting strategy?
  • Buyer Personas and target audience: Who are you targeting with your strategy? What do they need or want?
  • Sales team: Who will be responsible for carrying out the strategy?
  • Tools and resources: What tools and resources will you need to facilitate the strategy?
  • Budget: How much money do you have to spend on your B2B prospecting strategy
  • Messaging: What message do you want to get across about your product or service?
  • Execution plan and timeline: What steps will you take and when will they be taken?
  • Metrics: What metrics will you use to measure success?

Once you have an understanding of these elements, it is time to start building your B2B prospecting strategy!

Why do you need a great B2B prospecting strategy?

B2B prospecting is essential for any business that wants to grow. After all, you can’t make sales if you don’t have any leads to sell to!

A great prospecting strategy will help you:

  • Maximize your sales team’s efforts: By clearly outlining your process, you can ensure that everyone is working towards the same goal.
  • Save time and money: A well-defined prospecting strategy will help you save time and money by targeting the right people with the right message.
  • Increase customer loyalty: By engaging potential customers from the very beginning.
  • Save time and resources: By being clear about your target market and what you are looking for, you can avoid wasting time on leads that aren’t a good fit.
  • Make more sales: Once you’ve identified your ideal customer, it will be much easier to close the deal.
  • Convert prospects into clients: A well-thought-out prospecting strategy will include a plan for how you will nurture your leads and turn them into paying customers.

With all its benefits, creating a prospecting strategy may still seem like a daunting task. But it is actually not that complicated especially if you break it down into smaller steps.

Let’s take a look at how to create a great B2B prospecting strategy, step by step.

How to set up a B2B strategy?

How to set up a B2B strategy?

Now that we’ve taken a look at the basics of B2B prospecting, it is time to get down to the nitty-gritty and create your own strategy:

  • Check your resources.
  • Set your goals.
  • Create a funnel from marketing to sales.
  • Implement your new processes and track your results.
  • Feedback and iteration.

Step 1: Check your resources (salespeople, marketing people, tools, budget, etc.)

First things first, take a look at what you have to work with. How many salespeople do you have? What is your budget? What tools and resources are available to you?

This will help you determine what is realistic and what is not. For example, if you only have a few salespeople, it may not be realistic to try and reach out to hundreds of new leads each day.

Once your resources are properly identified, make sure they are being used in the most effective way possible. If you have a limited budget, for example, consider using free or low-cost tools like social media to generate leads.

To do so, you’ll need to create buyer personas and develop targeted messaging that resonates with your target audience, by putting yourself in their shoes.

Step 2: Set your goals

Now that you know what you have to work with, it is time to set some goals. When setting goals, it is important to be SMART:

  • Specific: What exactly do you want to achieve?
  • Measurable: How will you know if you’ve achieved your goal?
  • Achievable: Is your goal realistic, given your resources?
  • Relevant: Does your goal align with your business goals?
  • Timely: When do you want to achieve your goal?

This will help you create goals that are actually achievable and that you can track your progress against. For example, a goal like “Increase sales by 20 per cent within 6 months” is SMART. But a goal like “generate more leads” is not.

Remember to also set metrics to measure success. This could include things like the number of leads generated, cost per lead, conversion rate, and more. This will help you track your progress and make adjustments as needed.

Create a funnel from marketing to sales

Step 3: Create a funnel from marketing to sales

The next step is to create a funnel that takes your leads from marketing to sales. This means creating a process for how you will generate leads, qualify them, and then hand them off to sales.

Your process will likely vary depending on your resources and goals. But in general, the steps should look something like this:

  • Generate leads: This is typically done through marketing efforts like content marketing, social media, or paid advertising.
  • Qualify leads: Once you have a pool of potential leads, it is time to start qualifying them. This helps you determine which leads are actually worth pursuing.
  • Handoff to sales: Once you’ve qualified your leads, it is time to hand them off to sales. At this stage, your sales team will take over and work on converting the lead into a paying customer.

Marketing and sales alignment are essential for a successful funnel. If marketing and sales are not on the same page, it will be difficult to generate quality leads that convert.

To ensure alignment, create a process for how the information will be shared between marketing and sales. This could include weekly check-ins, a shared CRM system, or even just regular communication. You could also create a “Qualified Lead Score” to help define which leads are ready to be handed off.

Step 4: Implement your new processes and track your results

Now that you have a plan in place, it is time to start putting it into action. Implement your new processes and track your results so you can see what is working and what is not.

How to do so?

  • Regularly review your data: Use analytics tools to track and measure the effectiveness of your lead generation efforts. This will help you identify areas where you can improve.
  • Make adjustments as needed: If something isn’t working, don’t be afraid to make changes and try something new.
  • Celebrate success: Don’t forget to take time to celebrate wins and recognize your team’s hard work.
  • Learn from your mistakes: It is important to take the time to reflect on what worked and what didn’t. This will help you learn from your mistakes and understand where you need to improve in the future.
  • Keep iterating: Lead generation is an ongoing process. As you learn and adjust, continue to refine your approach so you can maximize your results.

By regularly reviewing your data, making adjustments when needed, and celebrating successes, you can ensure that your lead-generation efforts are successful.

Following these steps can help you create a successful lead-generation process that will set the foundation for future growth. With the right plan and process in place, you can set yourself up for success.

And don’t forget to adjust your strategy as needed – especially as you learn more about your target market and what they respond to.

Step 5: Feedback and iteration

Lastly, don’t forget to get feedback from your sales team and customers. Your sales team can give you insight into what is working well and what’s not. And your customers can provide valuable feedback about their experience with your product or service.

Use this feedback to make improvements to your strategy. And then rinse and repeat!

Why B2B Prospecting Strategy is Important

Why B2B Prospecting Strategy is Important

Prospecting is one of the most important, but also challenging aspects of selling. It can be difficult to know where to start when you are trying to identify potential customers and build relationships with them.

By following these steps, you can set up a successful B2B prospecting strategy that will help you generate leads and close deals. Just remember to set SMART goals, and well-identified processes, and to get feedback along the way to ensure your success.

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