B2B prospecting isn’t synonymous with lead generation, but it is an integral part of effective lead generation. It’s the activity that all B2B sales reps must go through before qualification, nurturing and development.
Companies use B2B prospecting to build lists of prospects. Once they have drawn up their lists, the aim is to market and sell to their prospects - i.e., launch campaigns to engage and nurture leads, collect more information, and hopefully convert new customers.
B2B prospecting is a critical step in the lead generation process. It can be done in several different ways, including:
Content marketing - creating effectively-crafted content to engage with prospects at every step of the buying process. It helps to position your brand as a leading source of information in your industry, which means greater exposure and more B2B prospecting opportunities.
Video marketing - Using video as a B2B prospecting tool, to engage potential buyers and define their needs.
Events - Attending relevant events and trade shows is a great way to network and make new B2B connections.
Cold calling - Defining targeted contact lists and pitching your product to them over the telephone.
Social media - Use business social networks such as LinkedIn to amplify your brand awareness and identify new prospects.
How is Cognism relevant?
Despite its simple definition, B2B prospecting can be a challenge. B2B companies frequently struggle with both the quantity and quality of leads. The problem for many B2B firms is data. B2B companies spend approximately 60% of resources generating leads that result in conversion rates of less than 1%. Incorrect or out-of-date information leads to businesses targeting prospects when they are not ready to buy, or targeting people who no longer work at the target company.
Most current B2B prospecting solutions provide three dimensions of data.
1. Demographic Data
The first dimension of data is related to personal and geographical characteristics. It includes information such as name, email address and personal address.
2. Firmographic Data
This second dimension of data is related to company information. It includes elements such as company name, location, industry, number of employees and revenue.
3. Technographic Data
The third dimension of data is concerned with the technology a company or person uses, how long they’ve been using it for, and what benefits they gain from it.
Cognism provides these three plus a unique, fourth dimension of data: time. Companies grow, employees get promotions, and people get new jobs. When they do, these events signal where a prospect might be in the buyer's journey. This 4D, chronographic data is the combination of these actionable insights with real-time updated data.
Cognism has developed an innovative, proprietary AI engine - Revenue AI. This AI cleans, checks and improves our data, executing up to 8,000 data changes/updates on our database every day. This ensures our data asset is of the highest quality and always kept up-to-date. Therefore, B2B prospecting can be conducted at speed and with great precision. Company records can be enriched, with any incomplete or obsolete sections of data being filled in or amended.
Benefits to using Cognism
Cognism Prospector is the ideal solution for sales teams looking to boost their B2B prospecting efforts. With Prospector, B2B sales reps can gain access to a global database of 400 million business profiles and 10 million companies. They can create buyer personas of their target customers, using demographic, firmographic and technographic filters. Prospector’s search function enables B2B sales reps to visualise their Total Addressable Market (TAM). Sales triggers can be used to contact prospects when they are most likely to buy.
Cognism enhances B2B prospecting workflows through its universal CRM integrations. Native integrations for the Cognism product suite exist for the four most popular CRM providers: HubSpot, Pipedrive, Salesforce and Microsoft Dynamics.
Cognism Prospector is a GDPR compliant B2B prospecting and outbound automation solution, powered by our patented Revenue AI technology. It provides B2B salespeople with a more efficient way to prospect, generating contact data at scale and streaming new opportunities into the funnel.
Cognism Refresh is a powerful platform for managing all data enrichment needs for your B2B prospecting efforts. Our pioneering Revenue AI seeks out and targets stale data, filling in any missing gaps in your CRM records and providing you with valuable, actionable information.
Revolutionise your B2B Prospecting. Get Started Today.