Did you know that only 18% of salespeople think their outbound sales efforts are successful? Are you among the majority of people who struggle to generate new leads and close deals? If so, you’re not alone. Keep reading for practical steps we took to 3x our revenue in 2022 through outbound selling.
1. Define your target market:
Defining your target market is critical when building an outbound strategy. 70% of B2B businesses overlook this step & suffer with mediocre outbound campaigns.
This involves identifying the characteristics of your ideal customer. Looking at aspects such as industry, company size, location, and job title. Here are some practical steps to follow to define your target market:
- Conduct market research: This can involve researching industry reports, analyzing competitor data, and gathering customer feedback.
- Identify your customer persona: Once you have gathered information from your market research, it’s time to create a customer persona. This is a fictional representation of your ideal customer. Includes demographic information, pain points, motivations, and behavior patterns. Use the information you have gathered to create a detailed customer persona that reflects your target market.
- Analyze your existing customer base: Another way to identify your target market is to analyze your existing customer base. Look for commonalities among your customers, such as industry, company size, location, and job title. This can help you identify trends and patterns that refines your target market.
- Use data and analytics: You can also use data and analytics tools to identify your target market. Tools like Google Analytics, Facebook Insights, and LinkedIn Analytics can provide valuable insights into the characteristics of your website visitors and social media followers.
- Refine your target market: Once you have identified your target market, the final step is to refine it based on your sales goals and objectives. For example, if you are looking to expand into a new geographic region, you may want to focus on customers in that area.
2. Develop a compelling offer:
Knowing who you’re selling to is half the battle. You need a value proposition that clearly articulates the benefits of your product and how it solves your customer’s pain points. Make sure to emphasize the value you provide, as this can be the deciding factor for potential customers.
- To create a compelling value proposition let’s look at the 100M Offer by Alex Hormozi. Hormozi recommends following the “4 M’s” framework, which stands for Market, Message, Mechanism, and Media:
- Market: This involves identifying your target market and understanding their needs and pain points. By understanding your target market, you can tailor your message to meet their needs and create a value proposition that resonates with them.
- Message: This is the core of your value proposition. It should articulate the benefits of your product or service and how it solves your customer’s pain points. Make sure to emphasize the value you provide, as this can be the deciding factor for potential customers.
- Mechanism: This refers to communicating the process or method you use to deliver your product or service. It is important to have a clear and efficient mechanism in place to ensure that your customers receive the benefits you promise.
- Media: This involves selecting the appropriate channels to communicate your value proposition to your target market. This can include email, phone, social media, and direct mail, among others.
In the 4 M’s framework, Hormozi also emphasizes the importance of testing and refining your value proposition. He recommends using split testing to test different versions of your value proposition to see which one performs best. This can help you refine your message and improve your results over time.
3. Build a targeted list of prospects:
You can use databases to identify potential customers that fit your target market. You can also leverage your network to identify potential customers that may be interested in your product or service.
Here are some practical steps to follow to build a list of prospects:
- Use a lead generation tool: There are many lead generation tools available that can help you build a list of prospects. Some popular tools include LinkedIn Sales Navigator, Apollo (our choice) ZoomInfo, and Hunter. These tools allow you to search for prospects based on criteria such as industry, company size, and location.
- Attend industry events: Industry events such as conferences and trade shows are a great way to connect with potential customers and build your list of prospects. Make sure to collect contact information from attendees and follow up with them after the event.
- Use social media: Social media platforms such as LinkedIn, Twitter, and Facebook can be used to build your list of prospects. Join relevant groups and engage with potential customers to build relationships and gather contact information.
- Leverage your existing network: Your existing network can be a valuable source of potential customers. Reach out to current and former colleagues, partners, and clients to ask for referrals or introductions to potential customers.
- Use search engines: You can use search engines such as Google to find potential customers based on industry, location, and keywords. This can be a time-consuming process, but it can be a useful way to identify potential customers who may not be listed in lead generation tools.
- Purchase a list: If you are struggling to build a list of prospects on your own, you can purchase a list from a reputable provider. Make sure to research the provider and the quality of the list before making a purchase.
Implementing these steps will improve your outbound sales. By defining your target market, building a list of prospects, personalizing your outreach, and utilizing a structured sales process, you can effectively generate new leads and close more deals. However, if you need additional help in implementing these strategies, don’t hesitate to reach out to Set 2 Close. Our team of sales experts is here to provide you with the support and guidance you need to take your outbound sales to the next level. Book a call with us today and start closing more deals!