How much research is too much? Too little?

Question

Hey Soldiers,

I hope everyone is getting after that grind on this Monday morning!

Just wanted to get some insight into how much research you like to do before beginning outreach to a new target account/prospect.

What do you have to know about your target accounts before prospecting?
What do you typically like to know about a prospect before outreach?
With market performance aside, what stands out to you most when researching a new target account?
What are your favorite touchpoints in the beginning stages? Where do you find your self having the most success with conversions early in the process? (phone, email, social, etc.)

Thanks soldiers, and let's grind out this Monday!

At ease.

-AutoSmiler

Accepted Answer

Look at the 10-K, annual reports, website, anything that speaks to any sort of initiative they might have within the next 6-12 months that aligns with your product offering.  Couple that with some LinkedIn stalking and that's all you need to have a good first-time convo.

Answer

I have a limitless amount of prospects, so I don't spend too much time researching before the initial conversation. I get their industry, key contacts, approximate number of employees, and will do a quick Google search to get a vibe for their culture if I can and then it's onto the cold call.

Answer

We recently fired a rep who spent an average of 11 minutes 13 seconds researching prospects

Answer

Much of this is going to depend on what you sell and the people you sell it too. When I prospect into IT teams, my first goal isn't to know that persons whole history, it's to generate a meeting so I can go into more details and determine what projects they have. If I researched in depth every contact I go after, I wouldn't have nearly enough volume. That research is very good though prior to an actual meeting and during the sales cycle.

Answer

@AutoSmiler A lot of this is going to depend on your sales process. Less prospects is likely going to mean more indepth research is needed. You don't need to know everything your prospect has ever done or everything about their company. Think of it as walking up to a stranger and sparking a conversation. What can you research that would start a conversation or is something they'd want to talk about?

Answer

Can't rely solely on the companies lead gen so I occasionally push for LinkedIn connect requests from my imported company email list. I have closed some 70k deals from that.

Answer

I'm a big believer in trying to understand the org chart and who has been brought in to do what. Have any people there worked with your company about other places? LinkedIn is still the best for me but the days of it being 2-3x as effective as everything else are gone.

Answer

A lot of this depends on the size of the company and what kind of interest they've displayed in the past (or not).

Answer

Split your research time between the company and the person but no need to over do it as not matter how good it is a statisticaly significant portion of targets will ignore regardless. I think the "why you, why you now" is a good guiding principle in general. Put as much though into your wordsmithing as you do your research, everyone typically has the same info resources that you do, but not everyone takes the time to sound unique in the way they phrase things or their word choice.

Answer

I have a limitless amount of prospects, so I don't spend too much time researching before the initial conversation.

AutoSmiler

How much research is too much? Too little?

How much time do you research new target accounts?

18 comments

AutoSmiler

How much research is too much? Too little?

How much time do you research new target accounts?

18 comments

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