How to Identify Sales Prospect Needs (and Provide the Solutions)

September 30, 2021

Sales and marketing are notoriously difficult sectors to work in, and sometimes you don’t know quite how much of a struggle it can be to be creative - and effective - until you work in one of them. You’re tasked with making a certain number of sales or generating a series of new leads each month and reaching out to people who have never heard of your business can go one of two ways. Similarly, a good marketing campaign is one that resonates with someone and makes them think long and hard about what they need and the benefits of what you can offer them.

Even when you have a list of prospects to target you can never be sure that they’re ‘hot’ prospects on the verge of signing up or making a purchase, but it’s your job to convince them that they are using all of your experience and expertise. 

A great prospect is the kind of person who knows that they already need your service, or has a feeling that they need something in place that would enable them to work more efficiently and hit their personal targets. Unfortunately, not every prospect is aware of what is out there and, even if they are, they don’t necessarily have access to the company credit card in order to do something about it! 

So that’s what we’re going to talk about today. How you can identify the needs of your prospects, even if they’re not aware themselves that they have a need, or that you have the solution to offer them. This will help you to not only promote your brand and range of services, but also increase the likelihood of converting a prospect into a sale by identifying and resolving their need with an effective solution. 

  1. Your prospect is looking to generate additional revenue

This is almost a given for any business. You’re always on the lookout for more new business opportunities, but you don’t quite know how to go about finding them without revamping your entire approach. Some employ in-house new business teams tasked with sourcing new leads, while others opt for prospecting and lead generation platforms to identify relevant prospects who are actively seeking businesses to pitch for work. 

You may find that your current prospect doesn’t use either of these methods, in which case it’s your role as a sales person to promote your platform with the aim of bringing in that all-important revenue for your prospect. If you offer a product or service that can make that person money, or find them new business opportunities, then you’re giving them the solution to their ongoing problem, and that enables them to weigh up the pros and cons of investing to make money. If it’s a cost-effective solution that offers an excellent chance of getting a positive return on their investment - which is what your prospect needs to see - then you’re increasing your chance of a sale and offering them the opportunity to generate the revenue they need to grow.

  1. They’re looking to save money by reducing spend

Another common business need is to cut costs. Having splashed the cash on all kinds of systems and software packages in the past, a business may look to strip back their subscriptions and look for a one-size-fits-all approach. 

So how do you pitch to a prospect who is looking to save money rather than invest in another new product? By helping your prospect to understand the overall benefits of your product over those of your competitors, they will learn that spending money on yours will enable them to reduce their outgoings on other services and subscriptions and may even result in more revenue coming into the business. 

An ROI calculator is a great way of visualising how much money they have the potential to make, while explaining how long it might take for them to make back the value of their average invoice will help them to understand how many sales they need to make in order to be making money from their latest investment. It may be that they only need to make one sale and they’re already in profit.

  1. Save time and improve efficiencies

Time is always at a premium and every business wants to spend more time doing what they do best, and less time on the monotonous, administrative tasks that they would prefer to automate if they could. Quite often sales leads will tell you that the biggest issue with their current role is that they spend too much time doing administrative work and not enough time performing what they are ultimately paid to do and are passionate about.

If you can focus your efforts on how your product or service will save them time, freeing up valuable hours to spend delivering for clients or completing tasks they often stay late to complete or work on at home; then you have the potential to convince them that this is the product or service they need to improve efficiencies across the business. 

For more helpful sales prospecting tips and information, come back to our blog soon or why not sign up for a free trial of HeyProspect and start reaching out to decision makers interested in your product today.

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Here we explain how to find out what a sales prospect needs - even if they don't realise it - and how to sell your solution to this prospect