How to improve your business development strategy?

Increasing a client portfolio involves business exploration activities. Prospecting aims at attracting new clients to build brand awareness and increase market share is a major commercial issue. However, as cold calling has become more complex and time consuming, it also became complicated to find potential clients. So, how to conduct a targeted and efficient prospecting campaign? Discover our tips for improving your sales prospects, from optimizing exchanges to using business tools.

16 May 2023

  • panel improve your business development strategy

Collect information over time

Information is the key to success for salespeople looking for new clients. Several factors are much needed to correctly target potential clients. Salespeople thus has to identify lead targets that overlap with the ideal client profile as well as target conversion rates and the budget allocated to operations.

Improving your sales prospecting requires specific information to better refine your arguments and plan cold calling campaigns. Tools can also assist sales force in their tasks, including CRM software. CRM can easily acquire contact information for prospects so that you can reach them or follow up on them in a timely manner. This is why, you have to be reactive to avoid being overtaken by more proactive competitors.

CRM software can save varied information (quotes, propositions, orders, etc.) It can also transcribe the hierarchical status of the contact person in the context of a B2B relationship. The business tool captures a global view of customers, helping to better identify prospects and prioritize actions.


Optimising interactions with potential customers

It is not always easy for salespeople to catch up with each exchange. This is why, it is essential to adapt your cold calling to the specific needs and expectations of each prospect. Demonstrating professionalism therefore means personalising each contact especially by exploiting the information gleaned from customer profiles.

For example, a CRM can identify a prospect's preferences in terms of communication style or spending habits. At the end of a meeting, each exchange provides material to further enrich the prospect's profile. By organising all interactions, the software can centralise and provide all critical data involved in improving conversations with clients.

Optimising interactions also means better targeting of marketing campaigns. A potential client is more likely to respond to an offer that fits their profile, and even more likely to respond to quality, thought-provoking information. Therefore, staying connected is highly recommended to help potential clients make a well-considered buying decision.


Creating optimised reports

Commercial prospecting does not stop with interactions with target clients, as in-depth follow-up is very important to perfect the scope of the actions carried out and to study their impact. By using a CRM tool, the sales staff can then draw up analytical reports and assessments.

A CRM with a reporting function is thus intended to facilitate the monitoring of the progress of a project and the dissemination of results. Computerised and automated reports save valuable time compared to manually created tables. Reporting provides access to a wide range of actionable data and KPIs, such as :

  • Attrition rate : the rate of inactive customers during a given period;
  • Reactivity rate of prospects to commercial solicitations addressed to them;
  • Turnover per contact;
  • Churn rates for communication campaigns, lists and programmes.

Coupled with reporting systems, this CRM database helps to decipher the effectiveness of the various stages of the prospecting process and new up-selling opportunities.

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