Entrepreneurs, sales teams and business development
professionals are all tasked with selling a brand, product or service to
diverse audiences. The sales pitch could be in front of an investor for
funding, or a potential client to purchase your product or use your service. As
a result, the message, approach and strategy all need to be tailored, depending
on who is listening.
BDD’s team covered the startup grind workshop, delivered by
Samer Bawab (SB), Business Developer at Carpolo, to uncover sales strategies
BDD: What are the top sales strategies that entrepreneurs
SB: The focus should firstly be on defining your company’s
value proposition and ensuring it is delivered in the language of your
customer. The message needs to be tailored, based on the problem you are solving
and results you will create for them.
Ask yourself questions such as:
- How will your customers’ situation materially improve by
using your product or service?
- What are the alternative solutions for this problem? Can
anyone else provide them?
- If so, what makes your solution a better choice than the
- Why does your client need to hire your product / service?
Then utilize the tools that are available to you. Linkedin
for example, is great to help set up meetings and generate new business.
Leverage LinkedIn to identify key decision-makers based on the buyer persona’s
you create. This way you can tailor a very laser focused and relevant message
to the decision maker you are looking to build the relationship with.
Share quality content that is relevant to your audience,
such as insightful blogs, articles and case studies that will add value.
Publishing at least 1-2 times per week is recommended, to ensure you stay top
of mind across your target audiences.
BDD: What are the most effective business development
SB: There are two main factors that every company needs to
have to develop business leads:
- An effective 1-pager that includes a high-level overview of
your services, and the results you have brought to other clients. The main
purpose of this sales collateral is to allow the CEO, Director or high level
manager to be able to review and digest your company’s product or service in
less than 1 or two minutes.
- Define your outreach strategy. The strategy should include what
activities you will be carrying out, such as sending emails, making calls,
sending LinkedIn InMail’s or even tweets. I like to use the rule of 10 when it
comes to touch points, because many sales representatives and business owners
stop their efforts after 1 or 2 tries when they do not receive a response and
- Highest email open rates are on Tuesday and Thursday.
- Send emails at 8am, 1 pm and 5 pm for the highest
- Best day to make sales calls is Wednesday according to a
study by CallHippo.
- The best time to call a prospect is between 4:00 p.m. and
Sources: Campaign Monitor, CallHippo
BDD: How should companies look for new clients?
SB: Knowing your target customer base, and then finding ways
to interact with them are key. Here are a few tips:
- Define which specific vertical you would like to focus on to
narrow your search (Banking, Real Estate, Automotive, Manufacturing, Telco,
- Then build your target list of companies by number of
employees, geographical presence, annual revenue etc.
- Look for trigger events that your target companies or
audiences could be experiencing. For example, the opening of a new HQ location,
a new CEO, a new promotion, expanding new service offerings etc. These are important because you can use this
information when contacting them to make your messaging more relevant.
- Research the company’s website and try to find anything you
can use to incorporate in your outreach messaging.
BDD: How do you identify new markets to venture into?
SB: Entering new markets is based heavily on research, but a
lot of experimentation comes into play… sometimes, it’s even luck. To plan to
venture into a new market, follow these steps:
- Create experiments and identify 3 target markets you would
like to enter.
- Conduct extensive market research on the city or country you
are trying to enter. For example:
- Are there currently any competitors in the space?
- Are there any governmental restrictions that would prevent
your product or service to be implemented in that region?
- What is the culture like there? Will they accept your product or service?
- Identify the demographic you are looking to target
- What are the most prevalent and largest sectors within that
city or country? (Financial,
manufacturing, telecom, etc.)
- Find local Facebook groups within that target market and ask
questions, request feedback and try to gain as much insight as possible.
- Check local news platforms and channels to gauge some of the
common issues that are being talked about in the news and see if your solution
can help tackle some of those challenges.
The most important factor is to differentiate your company’s
product or service and effectively relay that to the target customer. And if
plans happen to change and lead you in a different direction, pivot.
Startup in Lebanon
on February 19, 2020
by Beirut Digital District