What does a great prospect look like?
Accurately identifying prospects that will go on to become good customers is one of the toughest challenges facing B2B marketers.
Marketers typically use tools or consultancy services from the likes of DnB or Experian to try to identify more companies that look similar to their current customer base.
But if the defining characteristic of your best customers is that they have unusually high email traffic, how are you supposed to identify prospects using that attribute? If you want to segment by geography, how can you assess the accuracy of that location data?
The lack of accurate, up-to-date and detailed information about the companies operating in an economy is a huge problem. It’s one of the reasons well-researched sales calls can come across as cold and annoying. It’s a cause of terrible conversion rates. It’s the reason many companies waste more than 90% of their marketing budgets targeting people who are never going to buy from them. Because there’s simply no way of knowing who’s likely to be interested before you contact them. Or is there?
Almost every business has an online presence in the form of text-based data by or about them, and advancements in processing power have made it possible to collect and mine that data for information. This makes it possible to use a variety of data science tools to derive company-specific ‘buying signals’ from huge sets of data.
If you know what those signals are and who’s exhibiting them, you can start targeting your best prospects – and ignoring the companies who are unlikely to buy from you.
Growth Intelligence clients are getting amazing results with this technique:
- American Express experienced a 300% increase in telemarketing conversion rates
- BT saw order values increase fourfold
- Citation achieved ten times‘ return on investment in the first eight weeks
To learn more about how and why predictive technology is revolutionising telemarketing, take a look at our free ebook – ‘You Had Me at Hello’.
Ready to discuss what Growth Intelligence can do for your business? Get in touch.