How important is having a thorough understanding of your prospects? Pretty important, according to recent research by Cintell and MarketingProfs.
The study showed that B2B organizations that exceed annual revenue goals are more likely than worse-performing organizations to use a wide range of sources to research the demographics and psychographics of their prospects. Organizations that exceed annual revenue goals are also more likely to create detailed personas that outline buyers’ motivators and fears as well as their roles in the purchase process.
Don’t Skimp on Your Research
It makes sense that in order to create marketing messages that resonate with your prospects and sell effectively to them, you’ve got to know your prospects inside and out. But it’s surprising how many companies skimp on market research. In the Cintell and MarketingProfs study, high-performing companies were over twice as likely to research the drivers and motivations of their buyers as lower-performing companies.
How to Gather the Data You Need
There are many ways to learn the information you need to know in order to understand your prospects. The high-performing companies in the survey used the following tactics:
- Qualitative interviews (both customer and non-customer)
- Reviewing CRM data
- Interviews with the executive team and salespeople
- Competitive websites
- External studies
Research requires resources, but the resources you invest will pay off in the long run. You’ll be able to craft more effective messaging and understand what will motivate your prospects to purchase, enabling you to increase sales.