Targeting Recently Funded Companies as a Sales Strategy

Here’s a B2B sales tip that’s so simple it might not have occurred to you: a company with a large influx of cash is more likely to want to buy goods and services.

Golden Egg. Difference / uniqueness concept imageLooking for companies that have  just received a funding round can help you target more qualified prospects. Remember that companies don’t get funding to become more lean, or even to become profitable. They get funding to grow, and that typically means new people, new services, and new tools.

How to Find Recently Funded Companies

Directly following a funding round, companies often make investments to jumpstart growth, and if your solution will help them do that, then you should go after it. For example, if a company just underwent a $25 million series B round, they might be in the market for a more robust online presence, new offices, an enterprise-level CRM or a more sophisticated marketing automation platform.

AngelList and Crunchbase are both excellent resources for identifying when companies have undergone a private funding round.

And don’t forget good ol’ Google Alerts. Keywords such as “raises” paired with “round” and “VC” will bring up a surprising amount of news items.

If you’re going after the enterprise market, it can also be advantageous to try to begin sales conversations following an initial public offering (IPO). If you’re vigilant, you can usually catch wind of IPOs in advance and begin lead nurturing before a company goes public.

VentureBeat is also an excellent resource that not only specializes in funding stories, but also covers enterprise IPOs.

Note Funding Trends in Your CRM

All sales are collaborative, and as such, take care to note funding news about each prospect company in your CRM, so that you and other reps can take advantage of the information as you sell.

It can often take newly funded businesses months and years to allocate their new resources on new hires and new technology. So it’s vital to log business’ funding details in your CRM. If you’re a customer, then logging funding details in a prospects Chatter feed can help other employees to know that a lead is qualified. Sales users with RingDNA  can quickly view a prospect’s Chatter feed using the same app that they use to make and take sales calls.

About the Author

Jesse Davis

Jesse Davis is a sales and marketing strategist and Sr. Content Marketing Manager at RingDNA. Over the past decade, Davis has honed his business communications skills working as an inside sales manager, business writer and agency marketer. He is a proponent of utilizing platform technology and evidence-based methodologies to optimize creative campaigns, marketing ROI and sales performance.

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