Prospecting Trends 2023

In 2023, the manufacturing industry faces unprecedented challenges, with 72% of manufacturing executives anticipating a difficult outlook. In the face of ongoing supply chain disruptions and global market pressures, manufacturers must adopt new strategies to keep them in the game. To achieve this - whether you agree or not - outdated manual processes are a key starting point.

Nowhere is this more important than in the sales department, particularly in the realm of prospecting. Modernizing processes streamlines prospecting efforts, enabling sales teams to identify and target potential customers with greater precision. This leads to a ripple effect of improved collaboration between sales and marketing, better customer satisfaction, and, most importantly, cost reduction, ensuring that manufacturers can stay one step ahead of the competition.

The COVID-19 pandemic has underscored the urgent need for manufacturers to streamline their operations in the face of recovery strategies such as reshoring. By eliminating high risks and costs associated with inefficient and error-prone manual processes and adopting agile and seamless workflows, manufacturers can not only increase their efficiency and reduce costs, they can save jobs.

The manufacturing industry is notorious for being slow to change, often due to the lack of flexibility in highly specialized processes. However, the right tech stack, as the cool kids are calling it, can help manufacturers avoid job cuts and improve their customer experience. By adopting cutting-edge Industry 4.0 technologies such as AI, predictive analytics, and smarter automation, sales teams gain better customer insight and can target prospects more effectively, resulting in higher sales performance.

When product engineers miss design cycle deadlines due to outdated design revisions between their CAD and ERP systems, it leads to costly delays and frustration. Similarly, managers wasting time trying to decipher what’s behind the smudges, fingerprints or jelly donut stains on their paperwork is unacceptable.

Greg Bohlin, Vice President of Sales and Customer Success at Alpha Software, emphasizes that relying on paper to collect data is a slow and error-prone process. "Did I write a 9 or 6?" he asks. This unreliability makes data useless, and you won't take action on it, so what's the point of capturing it in the first place?

In a post-pandemic world, manufacturers have been forced to take a hard look at their sales processes, with a staggering 67% recognizing the need for innovation and digitization. Enter Mary Lou Tyler, the sales guru behind the hit book "Predictable Prospecting," who has a fresh approach for navigating the intricate world of B2B sales industries such as manufacturing. Building on the strategy first outlined in her book, Tyler emphasizes the importance of meeting prospect’s needs rather than simply identifying who they are.

Here are the 3 key steps of Tyler's Self-Directed Prospecting approach:

Personalization: In today's market, 80% of B2B buyers expect the same level of personalized experience as B2C buyers. To make a connection that feels authentic, it's crucial to use data insights to tailor your communication to their specific needs.
Research: To approach prospects with empathy, it's important to take the time to understand their businesses, challenges, and problems. This will help foster a stronger connection and establish credibility.
ICP: Ideal Customer Profile: Targeting prospects based on an ideal customer profile ensures they feel valued and understood.

The key to Tyler's Self-Directed Prospecting method is creating value for the prospect. This empathetic approach creates an instant connection with the Ideal Customer Profile (ICP), setting the foundation for a successful sales pitch.

By conducting thorough research and effectively targeting the ICP, sales teams can establish credibility and foster long-lasting customer relationships. Tyler's method boasts higher conversion rates and stronger bonds with prospects, making it a favorite among sales leaders in manufacturing.

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In this whitepaper, we cover all aspects of Prospecting. A great reference if you are looking to understand the... context your in when addressing your Prospecting Process

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