Are you wondering how much prospect research you should be doing before you contact a potential prospect? The answer depends on the value of the opportunity.
Now, if you’re going after a big company like GE or IBM, you will want to spend a lot of time doing research on their website, finding out what industry analysts are saying, etc. – especially if it’s a big opportunity that could be pivotal for your business.
But, if you’re going after smaller companies, you don’t need to invest that much time. The reality of it is, many people call on the same type of decision makers all the time and they know a whole lot about their main concerns and challenges. They develop a depth of expertise on that individual or market segment. And when you have that, you don’t have to do as much specific research on a company.
For example, I always sell to VP’s of Sales, and they’re always concerned about new client acquisition.
So, think of the size of the opportunity and what it might mean for your business. If it’s worth researching, go after it. If it’s not that big of deal, don’t do as much homework because it won’t make that much difference.
