Prospects often offer clues about their willingness and readiness to buy. In this video, learn a few tactics for learning when your prospects are ready.
- Part of understanding your buyer is understanding when they are ready to buy. A good example of this was when I was in college. I worked in a very busy luxury retail store, and I was paid only on commission. There were two signals that I would look for that would greatly improve my chances of making a sale. The first was if the potential customer went right towards a specific section of the store, like if they were on a mission and had a specific goal in mind. The second signal I would look for would be if they initiated small talk with me, and they were open to engaging.
It still took a lot of work to close a deal, but a lot less than if I approached every single person who walked into the store in the same way. A salesperson and a buyer both prefer to engage with each other when the buyer is ready to buy. To do this, you need to become a master in reading the intent of a prospect. And today, social data gives you a lot of subtle and sometimes not so subtle clues to a buyer's interest. There are two kinds of buyer intent in social selling. The first is intent to engage.
This means they are more likely to engage with you, specifically through social channels. The second is intent to buy, which means they're actively looking for products or services that you sell. Both kinds of intent will help you prioritize your time by spending more time with prospects likely to engage and pinpointing those who want or need your products or services. No matter what kind of signals you're finding, here are three tips for knowing when a prospect is ready to buy.
To start off, you have to look for intent. Given all the information available, it can be easy to look over key events, like a job change, as trivial, but now, you must look at different signals, with the lens that considers what this means for their intent. It's not just a job change, but an opportunity to get your product in front of someone with new budget authority. Another example, seeing that a prospect posted recently on LinkedIn. That's a signal that they're active on LinkedIn. And that LinkedIn might be a good social channel to engage with them.
Since it's tough to stay on top of all of the different intent signals, it's important to automate key alerts. This is mostly going to be possible in a product like LinkedIn Sales Navigator which, for example, will let you follow someone by saving them as a lead. The platform will then notify you if they post or share anything on LinkedIn, or if they look at your LinkedIn profile, which shows strong intent to engage. Other products like Point Drive let you create, package up, personalize, and send content to your prospects.
It then lets you track the content that you share through out the entire buying process, and it will notify you when they view it, for how long they view it, what specific piece of content, and if they share it with someone else in their organization. This information can help you get a much better understanding of what your buyer is interested in or is not interested in. Another example of this is saving a targeted search for your ideal prospects. Prospects are changing all the time, and once you pull a great list of prospects, you can save the filters in specific lists so it'll alert you when someone new now meets that criteria.
New people come into your list all of the time when their company might now be big enough, or they update their job title. In almost all the different signals, whether it's someone looking at your profile or response to an email or a potential prospect was just mentioned in the news, you must respond quickly to take full advantage of the opportunity. Speed can set you apart. Remember, publicly available social data is accessible to salespeople at your competitors, so being the first to react to an important signal matters, and it will create more opportunities for you.
It's time to start automating the tracking of some of these signals. Create Google News Alerts for the names of your top three prospects. Or if you have LinkedIn Sales Navigator. Just save the people as leads and it will automatically track triggers and news alerts for them.
- Crafting a customer-centric profile
- Creating a professional brand that expands your reach
- Identifying your ideal prospects
- Understanding what your buyer values
- Knowing when a prospect is ready to buy
- Engaging with personalized outreach
- Asking for an introduction
- Measuring social selling success