Sales Prospecting For B2B Sales & Business Development

Summary

In this video, Patrick Dang explains the fundamentals of B2B sales prospecting, emphasizing the importance of identifying and reaching out to dream clients. He introduces the concept of an Ideal Customer Profile (ICP) to target the right audience and discusses the emotional aspect of sales, highlighting the need to address the customer's pain points. Patrick outlines three main prospecting methods: cold emailing, LinkedIn outreach, and cold calling, suggesting that the most effective method depends on the industry. He encourages viewers to find what works best for their specific market and to scale up that approach for optimal results.

Takeaways

• 😀 Selling success hinges on finding and reaching out to the right customers, not just having a great product or service.
• 🔍 B2B sales prospecting involves identifying and connecting with potential customers who are a good fit for your offerings.
• 📈 The importance of watching the video to the end is emphasized to learn effective strategies for client acquisition and avoid wasted efforts.
• 👍 Encouragement to like, subscribe, and enable notifications for more content on sales and business development.
• 🏢 Understanding sales prospecting involves recognizing the role of a salesperson or business development representative within a company.
• 🤔 The process of identifying prospects involves reaching out to determine if they have a problem your product or service can solve.
• 🎯 The concept of an Ideal Customer Profile (ICP) is crucial for narrowing down who would be a good fit for what you're selling.
• 📊 ICP involves considering demographic factors like age, location, company size, and industry to filter potential customers effectively.
• 💡 Beyond demographics, understanding the emotional needs and pain points of potential customers is key to successful sales.
• 📧 Cold emailing is highlighted as a cost-effective and easily accessible method for initiating contact with potential customers.
• 🤝 LinkedIn is positioned as a valuable platform for connecting with business professionals and sending targeted messages.
• 📞 Cold calling, while less scalable, can be effective in certain industries where professionals are often reachable by phone.
• 🔑 The script suggests that the most effective prospecting method depends on the industry, and finding what works should be scaled for better results.
• 🌟 A free in-depth training is offered for those looking to enhance their sales skills and learn how to sell effectively to anyone.

Q & A

What is the main focus of Patrick Dang's video?

The main focus of Patrick Dang's video is to explain B2B sales prospecting and business development, showing viewers how to effectively reach out to their dream clients.

Why is finding and reaching out to dream customers essential for a business?

Finding and reaching out to dream customers is essential because without the ability to connect with potential clients, even the best products or services cannot generate business.

What does Patrick suggest doing at the beginning of the video?

Patrick suggests giving the video a like, subscribing if the viewer hasn't already, and turning on notifications to stay updated with his content.

What is the definition of sales prospecting according to the script?

Sales prospecting is the process of identifying and reaching out to potential customers who might be a good fit for a company's product or service, with the aim of initiating a transaction.

What is an Ideal Customer Profile (ICP) and why is it important?

An Ideal Customer Profile (ICP) is a detailed description of the type of customer who would be a perfect fit for a company's product or service. It is important because it helps in targeting the right audience for sales efforts.

How does Patrick describe the process of identifying a prospect's pain?

Patrick describes it as understanding the emotional needs and problems of potential customers that they are willing to pay to solve, which is crucial for making a sale.

What are the three main methods Patrick discusses for reaching out to prospects?

The three main methods discussed are cold emailing, using LinkedIn to connect and message prospects, and cold calling.

Why is cold emailing considered cost-effective according to the video?

Cold emailing is considered cost-effective because it is easy to find someone's email and sending an email is free, making it a low-cost method of outreach.

What is the advantage of using LinkedIn for prospecting as mentioned in the script?

LinkedIn is advantageous for prospecting because it is a professional network where one can easily find and connect with specific individuals or companies, and send them targeted messages.

What challenges does Patrick mention about cold calling?

Patrick mentions that cold calling is less scalable due to the physical effort required to dial and reach out to prospects, and the fact that many times they may not answer the call.

How does Patrick suggest determining the most effective prospecting method for one's industry?

Patrick suggests researching online to see how others in the same industry are finding leads and getting meetings, and then trying and scaling the method that is most common and effective for that industry.

Outlines

00:00

📢 Introduction to B2B Sales Prospecting

Patrick Dang introduces the concept of B2B sales prospecting, emphasizing the importance of identifying and reaching out to dream customers for business success. He outlines the video's purpose, which is to explain the process of B2B sales prospecting and to share effective strategies for engaging with potential clients. Patrick encourages viewers to like, subscribe, and turn on notifications for more content. He then poses a question about the definition of sales prospecting and uses a visual aid—a drawn circle—to represent a company and its sales or business development representative.

05:00

🎯 Understanding the Ideal Customer Profile (ICP)

The paragraph delves into the concept of an Ideal Customer Profile (ICP), which is crucial for targeted sales prospecting. Patrick explains that while traditional methods involve creating a demographic 'box' of potential customers based on factors like age, location, company size, and industry, it's equally important to understand the emotional needs and pain points of these customers. He illustrates this with an example of a dental office needing more traffic and revenue, and how addressing this pain with a tailored solution can lead to a successful sale. Patrick stresses the importance of combining demographic targeting with emotional intelligence to effectively identify and connect with the ICP.

10:01

📧 Effective Methods for Reaching Prospects

Patrick discusses the three main methods for reaching out to prospects in B2B sales: cold emailing, LinkedIn messaging, and cold calling. He highlights the ease and cost-effectiveness of cold emailing, the professional networking potential of LinkedIn, and the direct nature of cold calling, while acknowledging its scalability challenges. Patrick suggests that the effectiveness of these methods can vary by industry and recommends researching industry-specific strategies. He advises viewers to find one method that works and then scale it up for maximum efficiency in sales prospecting.

🚀 Conclusion and Additional Resources

In conclusion, Patrick summarizes the key points of B2B sales prospecting covered in the video and encourages viewers to apply these strategies to improve their sales approach. He also promotes a free in-depth training for those who wish to enhance their sales skills further, with a link provided in the video description. Patrick signs off with his name and an invitation to join him in the next video, offering a clear call-to-action for continued learning and engagement.

Keywords

💡B2B Sales Prospecting

B2B Sales Prospecting refers to the process of identifying and communicating with potential business clients to generate new business opportunities. It is central to the video's theme as it outlines the strategies for reaching out to dream clients. The script discusses this concept as the primary method for initiating sales in a business-to-business context, emphasizing its importance over traditional sales approaches.

💡Dream Customers

Dream customers are ideal clients who are a perfect fit for a company's products or services. In the script, Patrick Dang stresses the importance of finding these dream customers for business success, as they are more likely to engage and convert into long-term, profitable relationships.

💡Business Development

Business development is the process of creating strategies and activities to expand a company's market presence. It is closely related to sales prospecting, as both aim to increase revenue. The video script mentions business development in the context of identifying and reaching out to potential clients, which is a key part of expanding a business.

💡Ideal Customer Profile (ICP)

An Ideal Customer Profile (ICP) is a detailed description of a company's most valuable customer type, taking into account demographic and psychographic information. The script uses ICP to illustrate the importance of understanding and targeting the right audience for a product or service, which is crucial for effective sales prospecting.

💡Salesperson

A salesperson is an individual responsible for selling goods or services to customers. In the video script, the role of a salesperson is discussed in the context of B2B sales prospecting, highlighting their responsibility to identify potential customers and initiate contact to offer solutions.

💡Pain Points

Pain points are the challenges or problems that a customer faces and is willing to pay to solve. The script emphasizes identifying a prospect's pain points as a critical step in the sales process, as it allows the salesperson to offer tailored solutions that address specific needs.

💡Cold Email

Cold email is an unsolicited email sent to potential customers with the intent of making a sale or establishing a business relationship. The video script describes cold emailing as an effective and cost-efficient method of B2B sales prospecting, as it allows for direct communication with potential clients.

💡LinkedIn

LinkedIn is a professional networking platform that is often used for business development and sales prospecting. The script mentions using LinkedIn to find and connect with potential clients, leveraging its features to send messages and establish professional relationships.

💡Cold Calling

Cold calling is the act of making unsolicited phone calls to potential customers to sell a product or service. While the script acknowledges that cold calling can be effective in certain industries, it also points out that it may be less scalable and efficient compared to other methods like cold emailing.

💡Scaling

Scaling in the context of the video refers to the process of increasing the volume or scope of a successful strategy to achieve greater results. The script advises viewers to identify the most effective method of prospecting for their industry and then scale up that method to reach more clients and close more deals.

💡Free In-Depth Training

The term 'free in-depth training' refers to educational content provided at no cost to help individuals improve their skills or knowledge in a specific area. In the script, Patrick Dang offers a free training on selling techniques, which is an additional resource for viewers interested in enhancing their sales abilities.

Highlights

Importance of finding and reaching out to dream customers for business success.

Introduction to B2B sales prospecting and business development.

The necessity of effective strategies for reaching dream clients.

Engagement call to action: like, subscribe, and turn on notifications.

Definition and explanation of sales prospecting.

Visual representation of a company and its sales representative.

The role of a salesperson in identifying and qualifying prospects.

Understanding the concept of a prospect and their potential fit for a product or service.

The significance of the ideal customer profile (ICP) in sales prospecting.

Traditional method of defining an ICP through demographic and company characteristics.

The emotional aspect of purchasing and the importance of identifying customer pain points.

Example of identifying pain points in the dental industry for business growth.

Three main methods of reaching out to prospects: cold email, LinkedIn, and cold calling.

Advantages of cold emailing for its ease and cost-effectiveness.

Utilizing LinkedIn for connecting and messaging potential clients.

The effectiveness and scalability of cold calling in certain industries.

Advice on choosing the most effective prospecting method based on industry.

Scalability strategy: once a method works, increase its use to gain more meetings and close deals.

Closing remarks with a call to like, subscribe, and enable notifications for more content.

Invitation to a free in-depth training on selling techniques for taking sales skills to the next level.

Transcripts

- Hey everybody what's going on?

It's Patrick Dang here.

Now it doesn't matter how great of a seller you are,

or how great your product or service is,

if you can't actually find your dream customers

and reach out to them and get a meeting,

you basically don't have a business.

So what I wanna do in this video

is show you exactly what B2B sales prospecting is,

or business development prospecting.

I'm gonna show you exactly what it is,

how to do it and the most effective ways

to reach out to your dream clients.

And the reason for why you should watch this video

until the end is because if you don't know

what's in this video, then you're gonna waste your time

running around chasing clients, when actually

if you had the right strategies, you can just implement it

and start getting results right away.

(upbeat music)

So before we go ahead and get started,

make sure you give this video a like,

subscribe if you haven't already and turn on notifications.

All right, so as we go ahead

and get started with this video,

the first question I have for you guys is,

what exactly is sales prospecting, right?

Whether you're a salesperson or you do business development,

it's pretty much the same thing,

and let's go ahead and answer that right here.

So how is this gonna work?

Well, let's go ahead and draw a little circle.

This is gonna represent a company, right?

(upbeat music)

So some of you guys out there, you are a salesperson

or a business development person working at a company,

and that's totally cool.

Other you guys are you maybe you start your own business,

you're a solo entrepreneur,

and you have to do your own sales, right?

Whether you work at a company or you got your own company,

it's the same thing.

You have a company right here.

And what's gonna happen is the company

usually has a sales representative, right?

Someone who does the sales for that company.

So let's say this is sales, right?

Or if you're not doing traditional sales,

and you're doing more business development,

sometimes this role is called business development, okay?

So the have that person, right here.

You have one person doing this

or you can have a whole team of people doing this.

So you got the company, the salesperson,

what's next when it comes to prospecting?

Well, you have to find your dream customers, okay?

So how is this gonna work?

Well, when it comes to sales and business in general,

you're gonna have people that might be a great fit

for your product or service.

So you got all these people here,

and who are these people gonna represent?

These are all prospects.

(upbeat music)

Now, to give you a clear definition of what a prospect is,

all it is, is really just someone who might be a good fit

for your product or service.

They might be a good fit, or they may not be a good fit.

It's the salespersons job to figure out

if they're qualified to buy your product or service.

So what the salesperson is gonna do

is they're gonna reach out to all these different people

and say, hey, do you have a problem that I can solve?

How may I be able to be of service of to you, right?

And if the prospect realizes

that, hey, maybe this person is selling something

that actually benefits them and helps them in their life,

then they'll go ahead and move forward with the deal.

So essentially, what prospecting is,

is you're just the person between the company

and the other company, and you're making that transaction

happen so that they can give you money, and in exchange,

you give them some sort of value as a product or a service.

All right, so the next question

that I have for everyone here is,

how do you exactly know who these prospects are, right?

Because the thing is, a lot of people believe

that they can sell to everybody,

but if you're trying to sell to everybody,

you're not gonna sell to anybody.

So let's get a little more specific on how this all works.

Now, there's this thing called

an ideal customer profile, right?

Ideal customer profile, also known as ICP.

That's essentially just who exactly

would be a really good fit

for whatever it is you're selling.

Now, there's gonna be two ways,

I'm gonna show you how to do this, right?

The first one's a little more traditional,

but it is necessary.

And that is, you basically kind of draw a box, okay?

So it's like, you know, who is this person?

Well, what age are they?

Where do they live geographically?

Things like what's their company size?

(upbeat music)

Or it could be something like industry.

And why this is important is because when you go out

looking for your ideal customer,

you have to use different tools to filter out

who you wanna talk to you, right?

For example, if you are looking for customers on LinkedIn,

you can filter it out by maybe not age,

but you could do it by geographical location,

company size or the industry, right.

So it's gonna be a lot more easier to filter through a list.

Also, if you run any type of advertising,

you also have to filter your companies by this as well

'cause you got to be more specific.

Now essentially, this is the traditional way to do it,

you're drawing a box and you kind of freezing this frame

and saying, okay, this is people who are likely to buy

what I have to offer.

But the main thing you really wanna look at

beyond just this little box over here

is looking at the person's pain, right?

So I'm gonna write it down over here.

So why is this gonna be important?

And the reason is because just because they fit

a certain demographic it doesn't mean

they want to buy your product or service, right?

Because when people buy it's a very emotional need.

And the thing is people buy emotionally

and they're gonna justify their decisions logically.

And the best way to sell somebody something,

and I've said this many times in my videos

is that you've got to find the person's pain.

What problem do they have, that they're willing to pay money

and invest time to solve, right?

And hopefully you have a solution

that they are willing to buy to make that problem go away.

So essentially, yes, draw the box of who this person is,

but also identify what pains they have.

And I'll give you a quick example.

So let's say you are selling into dentist offices, right,

like people that do braces and the fixed cavities

and things like that.

For these kind of people,

obviously, a lot of times they need more traffic.

Meaning they need more people to come into the door

so they could make more money, right?

So they need more revenue.

So the pain is, in some situation

is maybe there's too many dentists in a certain location

like California, and they need more customers in the door.

So if you can solve that problem,

whether it's with Facebook advertising,

or some kind of promotional services

to get more people in the door,

they're gonna be willing to pay you money to do that job.

And so that's essentially an one idea of pain.

And if they try to do it by themselves,

and they can't figure it out

you're gonna be more painful

because they feel like a failure.

So if you are their savior, and you're the one

that is able to help their business grow,

then they're gonna buy from you.

So again, understand the box of the ICP,

but also understand what pains they have,

and how you can make those pains go away.

So that's essentially how you define who your ICP is.

So now that you understand the ICP, what is the next step?

Well, we already understand

how prospecting works in general,

we understand that you have to create ICP,

ideal customer profile to understand

what problems these people have, how you can solve it,

and you know where these people are.

So what is the natural next step?

Well, how exactly do you reach out to these people?

Now there are gonna be three different ways

to do this, right?

There are many ways to do it,

but when it comes to B2B sales, and business development,

they're gonna be three main ways

are probably the most common and most effective, right?

The first one we're gonna talk about is cold email.

So the reason why cold email is so effective

is because it's really easy to find someone's email.

All you gotta do is go on the company website

and find the email of the person that you wanna talk to.

Or you can go on LinkedIn and use certain tools

to find their email as well.

And there's many tools to find people's email.

So that's really easy and it's also free to send an email.

So that's why it's one of the most

cost effective ways to do it.

The next one is LinkedIn.

So as you know, LinkedIn,

LinkedIn, I just almost spelled that wrong.

So LinkedIn, essentially is a social media network

for business people, right?

Basically, you can find who you wanna talk to,

find these companies, reach out to them,

connect with them and send them a cold message.

And you might be thinking,

why would anybody respond to a cold message,

especially if they don't know who you are, what you offer,

why should they respond to you?

And that goes back to the first point and that is pain.

So if you're able to identify the customer's pain,

and you reach out to them

and you say, hey, you know, I know that a lot of people

in your industry experiences pain,

this is how I help these certain people.

Do you wanna have a meeting?

If you kind of position it like that,

it makes it a no brainer

for someone to wanna take a meeting with you,

because you're solving their problems

and you understand them,

before you even have a chance to talk to them, right?

You're really just doing the research ahead of time

to really get into a psyche and get them to respond.

Now, the last way to do it is by cold calling.

Now for my experience personally, cold calling does work,

but it's the least scalable, why?

Because you physically have to pick up the phone,

find the person's phone number, dial them

and then try to get up them on the phone.

A lot of times they don't pick up the phone.

So that's why it's in some cases it may be ineffective.

But in other cases, let's say in the real estate industry

where if you wanna sell to real estate agents,

they're always on their phones.

So that might be a more effective place.

So a lot of people ask which one is the most effective?

which one should you use?

Because each one does require certain skill sets

and a lot of time to figure it out.

And my answer to that is, is really just depends

on your industry.

So the best way to figure out which one you should do

is you just Google based on your industry,

how other people are finding their leads,

and getting more prospects and getting more meetings.

And whatever you find is the most common,

that's the one I believe you should try and figure it out.

But once you get one working,

all you gotta do is scale it up.

Meaning if you send 20 emails,

and you know one person responds,

or maybe five people respond

and you get a couple meetings out of it,

all you gotta do is send more emails to get more meetings

and close more deals, right?

So once you find one thing that works,

there's no need to try to do everything at once.

Just get that one thing to work and just scale it up

and you'll be able to prospect

and get more customers in the door.

So with that said when it comes to B2B sales

and business development, that's gonna be prospecting

in a nutshell.

Now if you enjoy this video,

make sure you give this video a like,

subscribe if you haven't already

and turn on notification bell.

And if you really wanna take your sales game

to the next level, I actually created

a free in depth training on how exactly

you can sell anything to anybody.

So if you wanna learn more about that,

the link is in the description.

So with that said, my name is Patrick Dang

and I'm gonna see you guys in the next one.