Prospective Client Research & Pre-Qualifying Clients & Projects

Instructor: Kyle Aken

Kyle is a journalist and marketer that has taught writing to a number of different children and adults after graduating from college with a degree in Journalism. He has a passion for not just the written word, but for finding the universal truths of the world.

Finding clients is time consuming and essential for business growth and revenue. In this lesson, learn effective steps for researching prospective clients. In addition, methods to pre-qualify potential clients and/or projects are discussed.

Importance of Finding Clients

Finding clients is time consuming and essential for business growth and revenue. Learn effective steps for researching prospective clients. In addition, methods to pre-qualify potential clients and/or projects are discussed. There is great value in researching and pre-qualifying. It ensures that the clients and projects your company solicits have better potential.

Maximizing sales and marketing time starts with a good list of prospects. This pool of potential clients and/or projects will be the prime focus of the company's salespeople. Campaigns may be adjusted to attract similar people or businesses. How do you go about building this list?

First, you need to find names of people or businesses that are looking for the product or service your company offers.

Ways to Find Prospects

Talk to your existing clients. These customers work in industries that use your product or service. They will know who else might buy from your company. Since they are probably in networking circles with good prospects, they may have insight about the culture and attitudes that cannot be found through standard research.

Look at customer lists on competitor websites or in competitor brochures or publications.

Offer a free evaluation or trial via your company website. Use the recorded contact information to add prospects to the list. Or, allow visitors to your site to sign up for updates.

Second, pre-qualify the people or entities on the list. Most often associated with mortgages or loans.

What Does Loan Pre-qualification Mean?

1. This person or entity is looking for the exact product or set of services your business offers. Just because a prospect is in a similar industry as a current client does not guarantee that prospect had identical needs.

2. This person or entity has the resources to afford the product or service. Again, check on the status of the company or person. Is it a new business with very little capital? They may consider your product/service to be an essential to grow. Or, they may not be able to afford it. More information about the mentality or culture of the prospect is needed.

The steps for pre-qualification are more complex than the steps to generate names. This requires a detailed process to narrow down the list to the people or entities that are the best fit.

Other Pre-Qualification Strategies

3. Check social media posts and alerts about the listed prospects. Seeing what is going on with that potential client can tell a lot about mentality, reputation, and success. Set search parameters with websites like Google, Mention, or Talkwalker. Send a note of congratulations, if applicable. This can start a relationship with a prospect.

4. Use professional networking sites like LinkedIn to research a prospect.

5. Check online reviews for the prospect, if any. It gives a sense of their reputation.

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