#1 Analyse your biggest spenders | best customers
We started by analysing our biggest spenders. We first split them by; industry/activities, company size/revenue, and location. Then, we looked at the individual decision makers who made the purchase. And we analysed their; position, social media behaviour and length of the sales cycle.
We've identified 3 main industries + in each we focused on 3 locations, and finally, we split the companies into two groups based on size (50–500 employees and 500+).
We ended up with 18 different target groups, some examples;
1. Industry A | USA | 50–500 employees >> targeting CMO's who post about “innovation”
2. Industry B | UK | 500+ employees >> VP of Sales following X and Y on LinkedIn and/or Twitter
3. Industry A | USA | 500+ employees >> Chief Revenue Officer currently hiring SDR's
and so on..
#2 Find identical individuals in similar companies
At Spaceship we call it the snowball effect. What we basically do; is generate as many leads that fit one of the (18) target groups as we can.
Each sales person should have at least 150-200 cold leads to approach daily. That is ~ 3.500 leads monthly / per team member. So roughly — 200 leads from each of the (18) target groups.
#3 Keep it short and RELEVANT!
Now, I cannot stress this enough — if you are going to cold email someone, the message should never be longer than 4–5 sentences.
#First; Explain WHY are you contacting them (1–2 sentences)
#Second; Build trust and show proof of relevance (i.e. case-study, select clients, etc.) (2 sentences)
And #Last; ask for action — don’t say “let me know if this is interesting for you”, rather try to make it personal. Remember your goal (at this point) is to start a conversation. (1 sentence)
Next to email outreach we use the generated leads to build custom audiences on FB, Twitter and Adwords. And we also connect with people who have shown some interest (i.e. click, open the email a couple times, etc.) on LinkedIn.
#4 Follow up and close
Never follow up more than 3 times. We usually stop after the second follow up.
When we get into a conversation with a potential client — first thing we do; offer to do something for free (i.e. sample, report, etc.).
Second thing we do; ask for feedback — to see if it's a fit.
And last, we obviously try to seal the deal. One thing we noticed is — the more effort we put into the initial contact, the higher is the deal probability.
A QUICK SUMMARY
- Analyse thoroughly your customers >> create buying personas
- Generate similar leads and split them into segments (for analytics)
- Run campaigns (email, custom audiences, ask for connections, etc.)
- CLOSE or LEARN ;)
And as always, if you need some help with identifying and generating leads, drop me a line. I'm happy to help.