How data science will save you time when sales prospecting

by | 10 Nov 22

In today’s data-driven world, it’s no surprise that data science is changing the way businesses operate across all industries – and sales in SMBs, is no exception.

With the ability to harness vast amounts of data and glean insights from it, organisations are now able to make much more informed decisions about their sales strategies. For example, by understanding which channels generate the most leads or which type of content results in the most conversions, businesses can tailor their sales efforts to be more effective.

But perhaps one of the most impactful ways data science is being used in sales is through modernising prospecting efforts. By using data and sophisticated algorithms, businesses can now identify potential customers that they may have otherwise missed. In this blog post, we’ll explore how data science is being used for sales prospecting and some of the benefits it can bring.

The Process of Data-Driven Prospecting

Data-driven prospecting involves using a combination of publically available data sources – such as social media platforms and company websites, as well as your own internal data in your CRM (e.g. HubSpot, Salesforce, Zoho, Sugar etc). This will help you identify potential customers that match your ideal customer profile.

This process starts with creating what’s known as a ‘buyer persona’. This is basically a semi-fictional representation of your ideal customer, based on real data and insights. Once you have your buyer persona, you can then start to identify potential customers that match this profile by using a variety of methods, including:

Lead Scoring

Assigning a score to each lead based on how closely they match your ideal customer profile. This allows you to prioritise and focus your efforts on those prospects that are most likely to convert into paying customers.

Lookalike Modeling

Using algorithms to find new leads that are similar to your current best customers. This is an effective way to target individuals that are likely to have a high lifetime value for your business.

Web scraping

Collecting data from websites and online platforms like LinkedIn automatically so you can quickly gather information about large numbers of potential leads without having to do it manually.

Social listening

Monitoring social media platforms for mentions of your brand or keywords related to your products/services so you can reach out to individuals that may be interested in what you have to offer.

Benefits of Data-Driven Prospecting

By using data science for sales prospecting, businesses can enjoy a number of benefits, including:

  • Increased accuracy: By using data to drive decision making, businesses can be confident that they are targeting the right type of customer with their message. In turn, this can lead to increased efficiency in the sales process as well as improved conversion rates.
  • Reduced costs: Automating parts of the prospecting process (such as web scraping) can help save businesses time and money by reducing the need for manual labor. In addition, being able to target only those prospects that are most likely to convert can also lead to cost savings by helping organisations focus their resources on the right individuals.
  • Greater insight: Understanding which methods work best for generating high quality leads helps organisations fine tune their sales strategies for even greater success in the future. In addition, access to large amounts of detailed data also provides valuable insights that can be used not just for prospecting but also for other areas of marketing and business operations.

Data science is changing the landscape of sales by providing organisations with new ways to find and target potential customers more effectively than ever before. By utilising data-driven prospecting techniques such as lead scoring and lookalike modeling, businesses can improve the accuracy of their targeting while also reducing costs and generating valuable insights into their customer base. If you’re not already using data science in your sales efforts, now is the time to start!