Fast growing companies are often the best prospects for products and services. Fast growing companies need to hire more people, open new offices, and acquire additional hardware, software and services. These companies not only have a need to change, they are changing. Of equal significance is this, ‘fast growing’ refers to revenue, and growing revenue is an indicator of ‘ability to buy.’
The characteristics above are what you would call trigger events. Craig Elias, the creator of Trigger Event Selling™ says that when companies experience a ‘Trigger Event’ and now want to change they are up to ten times more likely to buy than they were before. That they are more likely to buy certainly makes a lot of sense, but the degree is rather astonishing. Craig goes on to say that for those companies that desire change (and are now 10X more likely to buy), they are again up to eight times more likely to buy when they can afford to buy due to a second ‘Trigger Event’ – the one that affords them the time to look at what you have and the funds needed to make the purchase.
Winning big deals and steady, fast-paced revenue growth are good indicators that a company can afford to make desired changes. By now, you’ve probably heard of iSell from OneSource which is a great tool for finding contacts, and conducting prospect research. Did you know that iSell will also alert you to relevant trigger events so you’ll know when to call? Along with iSell, you might consider delving into the Inc.500/5000 list if it’s the fastest growing companies you’re after.
The Inc.500/5000 list consists of privately owned companies in the U.S. whose revenue was greater than $100,000 in 2009 and no less than $2,000,000 in 2012.
Of course you won’t want to simply add all 5,000 accounts into your sales database and set about contacting each one. Instead, you’ll want to focus on those that best meet your ideal customer profile. Not every company will be a good match for your products and services and it would be a shame to waste your time—or theirs—calling on accounts that aren’t a great fit. How do you know which are a good match? Sometimes it’s helpful to know what technologies they have currently installed. If that’s the case, you’ll want to consider IncView by ReadyContacts. IncView offers a download-able list of Inc. 500/5000 companies with 10,000+ decision maker contacts including phone numbers, email addresses AND technology insights.
If you sell to IT organizations and you want to contact IT decision makers at companies of all sizes, you should look into DiscoverOrg. DiscoverOrg specializes in providing detailed information on IT decision makers including their contact details as well as technology intalls, key initiatives, and IT organizational charts. There isn’t a better source of prospect insight if you sell to IT buyers. DiscoverOrg also alerts its customers of real-time triggers they uncover during their interviews with IT buyers—triggers that may not surface in web searches until later, if at all.
Now that you have your lists of contacts at fast growing companies that are likely to have a need, a desire to change, and the ability to buy, how will you secure an appointment?
First off, you’ll need to be prepared and have done your homework. The above solutions will help you with that. In addition, it might be helpful to know what companies in the prospect’s area you are already doing business with. To list names of local client companies in the surrounding area will go a long way toward giving a prospect a sense of trust and just might put you on the fast-track to an appointment. Valgen’s cfMAPP is just the ticket for that. With cfMAPP fully integrated into Salesforce, your reps can quickly get local knowledge to convince prospects about your geographic strength in their markets. They can name-drop effectively and influence prospects to move to the next step.
As the saying goes, “If you want to catch fish, fish where the fish are.” Fast growing companies represent a healthy market for many sellers because of their very nature. They are hungry for ideas that will fuel their continued growth trajectory. They aren’t afraid of change because they embody change. The trick is to zero in on those that meet your ideal customer profile and to secure the meetings. You can do that with the tools in today’s blog.
Share your ideas. What other ways are there to identify ready-markets for products and services?
Note: IncView has agreed to offer a special 20% off discount for Smart Selling Tools readers. Use this promo code: INCVWSST20OFF
Nancy Nardin is the foremost expert increasing sales productivity through the use of tools. As President of Smart Selling Tools, she consults with many of the top sales productivity software vendors as well as end-user organizations looking to select the right tools. Click to get Nancy’s What & When weekly digest with invitations to complimentary webinars and informative publications. Follow Nancy on Twitter @sellingtools or subscribe to her Sales Productivity blog. Nancy can be reached at 916-596-3035. To schedule a free 30 minute consultation click here.