Here is a simple chain of actions to improve your outreach. Applicable to negotiations, sales, fundraising, etc.:
Internal research - external research - outreach templates for email and 300 characters LinkedIn messages - quality pings - implement the outreach strategy transparently, document every action - balance quality and quantity - adjust the strategy every month
In b2b negotiations in IT, research plays a critical role, requiring a depth that surpasses typical outreach practices. When salespeople or bizdevs join a company, they are often provided with prospects and basic information deemed sufficient for selling the product or building a partnership.
However, to truly excel from day one, conducting deeper research is essential. This involves understanding the problems at hand, as well as identifying unique and innovative aspects. Such thorough research enables negotiators to effectively persuade potential clients by pressing influential buttons.
Additionally, it enhances negotiation skills, allowing for the identification of win-win opportunities for both the company and the client. Research in sales can be categorized into two types: internal and external.
1. Internal research
For startups, internal research should extend beyond the materials provided by the company. Requesting a pitch deck, accessing the CRM, and engaging with the founder or head of business development and communications can provide valuable insights into successful strategies, outreach methods, and communication channels.
2. External research
External research involves analyzing competitors and understanding potential clients' pain points. By conducting comprehensive research, negotiators can position themselves for success by leveraging market knowledge and offering tailored solutions.
3. Pipeline
Search for clients and build a high-quality pipeline of 300+ potential prospects and 2-5 people within the company. Having 300 prospects is sufficient to test your strategy. After iterating on outreach and conducting 3-5 rounds of follow-ups over a month, you will gain better insight into whether the product you are working on addresses a genuine need and resonates with people. At that point, you can refine your outreach techniques, tailor your messaging, explore new channels, target different customer segments, or even discuss pivoting with the founder if the majority of clients' pain points seem to lie elsewhere.
4. Outreach templates for email and 300 characters LinkedIn messages
Create a set of templates for different platforms and target audiences, taking a strategic approach to communication. Based on my experience, two major outreach channels are LinkedIn and email. Ensure that your initial message captures attention within 300 characters when sending a connection request on LinkedIn. Also, learn how to craft a clear and compelling business email.
In your initial message, focus on the potential partner or client's business and address a pain point they might have. Highlight how resolving this pain point could lead to a x10 increase in income, savings, or other benefits. Then, introduce the product or service you promote, emphasizing any success stories where it has helped companies, whether large or small, to scale or improve. Mention specific numbers and names for credibility.
Conclude your message with a clear call to action. The same structure applies to the first email, where you have more space to write and include links. The initial email should aim to establish trust and connection, so include only relevant information and set the tone for future dialogue. Links can serve as social proof and demonstrate your digital footprint. However, it's best to avoid attachments in the first email, as many people may be hesitant to open unsolicited materials.
5. Quality pings
I'm sure all of us have sent ineffective pings at some point, such as asking, 'Did you have a chance to read my message?' It can come across as intrusive and annoying. You've probably received such pings, too, right? I have, and it made me feel guilty for not replying earlier. However, it's important to remember that people may forget to reply to your messages or overlook them for various reasons that have nothing to do with you. In the world of IT, when approaching a business development professional, it's crucial to understand that they receive hundreds of messages and calls each day through different platforms, networks, and events. So, don't take it personally if you don't receive an immediate response.
It's normal to follow up with someone multiple times (up to three would be optimal) to initiate a conversation. If you still don't receive a response, it usually indicates that you're either contacting the wrong person within the company or that the company doesn't see you as a potential partner. So, how can you approach people in a way that elicits a response?
To ping effectively, it's important to plan your communication in advance. Before even sending the first message, outline the whole communication chain with this person in your head. Each subsequent ping should include new information or value. For example, you can mention a new feature you're testing or attach a PDF version of the information you previously sent, explaining that you created the PDF for their convenience. You can also share an article recently published by your company or a relevant YouTube video you stumbled upon that might be of interest to a potential client.
By providing value with each interaction, you increase the likelihood of receiving a response and building a meaningful connection. Remember, it's not just about the content of your pings but also about delivering it in a way that showcases your thoughtfulness and consideration for the recipient.
6. Implement the outreach strategy transparently, document every action
To effectively implement the outreach strategy, it is essential to maintain transparency by keeping records of all actions taken toward your goals. Make sure to document the contacts you make, pings you send, text messages, and summaries of calls, among other relevant information. This practice enables you to track your progress and identify areas where the process can be improved. Additionally, filling out CRM (Customer Relationship Management) system can facilitate discussions about your work with your employer. In case of conflicts, having documented evidence of your actions will provide you with proof of everything you have done.
7. Balance quality and quantity
Moreover, it's crucial to strike a balance between the quality and quantity of your outreach efforts. While setting a monthly goal, avoid going overboard in pursuit of mere numbers. Instead, focus on enhancing the quality of your outreach. It is more effective to elicit responses from a larger number of people through well-crafted messages rather than reaching out to a larger pool and missing opportunities due to poor communication quality. By following these straightforward steps, you will be ahead of approximately 95% of individuals who approach me on LinkedIn.
8. Adjust your strategy every month and repeat
Consistency is the key.
To sum up, all you need to create an effective pipeline is a profound understanding of your product and the problems it solves for your clients. And to initiate a productive conversation, you should craft detailed and highly personalized outreach messages. Plan your communication strategically. Keep communication transparent and balanced.
Thank you for exploring the article. Your feedback and input are incredibly valuable to me, and I encourage you to share your thoughts and suggestions. Feel free to connect with me on LinkedIn, and let's continue the conversation.