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.
Looking 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.
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.
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.
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 Salesforce.com 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.
Jesse WestDirector of Lifecycle MarketingringDNA
Jesse Davis West is Director of Lifecycle Marketing at ringDNA, focusing on improving the experience and maximizing the lifetime value for customers across their entire journey. Drawing on 9 years of B2B marketing experience, Jesse is passionate about communication, branding and strategic marketing. He also plays a mean lead guitar and can throw down at karaoke.