Knowing your Target is Key to New Business Prospecting

White paper reveals benefits of good prospect targeting
by Todd Knutson
There's a direct correlation, in our data and in our experience, between companies who know more about their targets, and how successful they are at generating leads.

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RainToday.com's research report, What's Working in Lead Generation, is the result of interviews with 730 B2B marketers (including ad agencies and other marketing services firms).

It asked them, among other things, how well your company knows whom it should be targeting, in terms of:

  • Your target market (industry, geography, size, etc.).
  • Titles of decision makers in your target industries.
  • Specific names of companies that are the best targets.
  • Names of specific decision makers appropriate for you in your target companies.

Here are some surprising statistics:

  • Only 30% of B2B marketers know the actual names of decision makers they target.
  • Only 51% of those who rate themselves "Excellent" at generating leads know the names of actual decision makers.
  • 13% of those who rate themselves "Poor" at generating leads know the names of actual decision makers.
If you don't know to whom you're marketing, you are wasting precious time, money, and business resources.

Taking their argument one step further, they argue that good prospect targeting provides your ad agency or marketing services firm 4 advantages:

  1. Good prospect targeting improves the efficiency of your business development time.
  2. Good prospect targeting lets you establish relationships with the prospects who matter most.
  3. Good prospect targeting focuses your business development efforts for business growth.
  4. Good prospecting targeting saves money.

RainToday's research is in sync with everything I've experienced over the years. If you'd like to read or download the white paper, click here (full disclosure: it's so relevant that The List has sponsored its wider distribution; however, we had nothing to do with the research. Note: you'll have to submit some information in order to download it).

 

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