nikdagreek

Business Development

How to contact B2B prospects for a product that has low penetration rate in the market?

I am working with a product that has a reputation for being a scam (even though if used properly it can add a lot of value to the client) and more directed towards consumers. I have tried many types of cold emails and even creating super targeted emails (which meant creating a report for free for them), my conversion rate has been in the low single digits.

After analyzing the penetration rate of such a service, I have noticed that it is very low with my target clients. I have thought of education as a possible solution, what do you think and do you have any other suggestions?

Thank you very much.

👑 Sales Strategy

💌 Cold Emailing

✌️ Growing Pains

17 comments

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CuriousFox

WR Officer

🦊

But...is it a scam 🤔

nikdagreek

Fire Starter

Business Development

The service has a very shaky history with many bad actors in the past taking advantage of consumers. This in turn has led businesses to not trust it. The company that i work for is part of a new generation of companies that are trying to develop the necessary tech to ensure that there are no bad actors.

Honch

Good Citizen

Senior Account Executive

I wouldn’t want to work in a space where I’m already having to overcome the perception my company/product is a scam. That’s a hell of an uphill battle.

I would take working for a small fish in an industry full of whales before having to attempt to overcome the overwhelming idea that I’m peddling a scam.

nikdagreek

Fire Starter

Business Development

This is a great advice, thank you very much Honch :)

realname

Valued Contributor

Grocery Clerk

So, I’m a musician who’s been burned by playlist pitching services, and I’ll be honest, from here on out, there’s only two places I trust:

SubmitHub and MySphera — and really, I only use them because I get to pitch directly, rather than letting an intermediary do it for me

I’ve had too many experiences where I rack up 1000s of streams in the first week or month only to see that number cut in half because most of them were fake.

So yeah, I won’t let anyone pitch my shit for me

Also, not only are you up against a bad reputation — your target customer is honestly probably broke as fuck. Unless you’re selling to decent-sized indie labels or fairly established artists, most of your prospects probably have three-digit budgets tops

Don’t get me wrong — I’m not shitting on you. I love the music business, and I think there’s lots of amazing people who work in it

But, honestly, if you’re going to do sales in the music business, you’d probably be better off working as a booking agent, an artist manager, or as a sales rep pursuing synch deals for tv shows (or even for higher-budget indie productions on YouTube)

Also if you’re pitching artists via IG or email, you’re extra fucked. I honestly block people every day who slide into my DMs for my music page trying to sell me playlist pitching services

You’d have better luck on LinkedIn, but it’s not exactly a hub for musicians

braintank

Politicker

Enterprise Account Executive

OK now I'm intrigued. What scam you peddling?

nikdagreek

Fire Starter

Business Development

It is in the music industry. The service is playlist marketing. More or less individuals, record labels and companies grow their playlists through social media ads so that it generates a large activity in terms of streams. What the company does is it works as an intermediary between these playlist owners and other record labels, artist managements....

One of the very large problem of Spotify is people who are using bots in order to generate streams and get paid. Historically, there have been many bad actors in this space that have grown their playlists to thousands of followers through bots and made people pay to be featured in them and once Spotify found out, they took down all the songs featured in there and demonetized them.

The service itself can be a marketing tool like any other only if used with the right playlists which is the whole idea around the company ahahahah.

So, trying to sell this service has been quite difficult as there is this reputation around it and is not trusted.

Sunbunny31

Politicker

Sr Sales Executive 🐰

Well, you have my attention. What solution?

nikdagreek

Fire Starter

Business Development

Sunbunny31

Politicker

Sr Sales Executive 🐰

I'm not familiar with this market, but it sounds niche and with limited targets. Is that accurate?

jefe

Arsonist

🍁

Definitely seems like it.

Glad I'm not selling it

Sunbunny31

Politicker

Sr Sales Executive 🐰

Yeah, me too. nikdagreek, you might want to start looking for a company that has a solution without so many hurdles for you to sell. This sounds like it has more than its share of challenges.

nikdagreek

Fire Starter

Business Development

It is quite niche, the music industry is a fragmented oligopoly. There are 3 companies that dominate the industry but their teams are spread internationally and have very coordination between them. Even if talking to the international coordination teams, it is quite hard to put every team in the same page. So technically, you might have acquired one of the "whales" as a client but it is only a team within a much larger ecosystem, so you have to keep convincing more teams.

nikdagreek

Fire Starter

Business Development

Hahahah, I have been thinking about this lately and wanted to see with everyone if there was a common solution out there before considering it. Thank you very much sunbunny31 :)

Gasty

Notable Contributor

War Room Community Manager

Curious, why are you working for a company with a product having the reputation of being a scam?

Kosta_Konfucius

Politicker

Sales Rep

Volume and customization for csuite

Skillen

-1

Solutions Sales

dude, this is a branding/marketing issue, not sure you can do anything about this at the sales level- certainly not at scale

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nikdagreek

How to contact B2B prospects for a product that has low penetration rate in the market?

17 comments

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