Meet Sales Innovations for Prospect Management
Learning Objectives
After completing this unit, you’ll be able to:
- Describe the challenges in prospect management.
- Explain the prospect management process.
- List the Sales Innovations features.
Before You Start
Before you start this module, make sure you complete the following content. The work you do here builds on the concepts and work you do in that content.
The Importance of Prospect Management
Effective prospect management is indispensable for the growth of any business. Successful prospect management involves targeting the correct prospects or potential customers, assigning them to the correct agents, and engaging with the prospects to maximize the conversion rate.
As simple as it seems, streamlining prospect management poses several challenges. Identifying the correct prospects requires extensive data analysis for grouping the prospects based on similar traits. Targeting incorrect prospects can result in a low conversion rate.
Assigning the prospects to the appropriate agents is a laborious task because it requires a deep understanding of the skills and workload capacity of the agents. Improper assignment can lead to burnout of agents and ineffective prospect engagement.
Delivering an effective prospect engagement experience requires providing meticulous guidance and designing intuitive systems that help agents efficiently engage with prospects. Lack of proper guidance can result in an inconsistent engagement experience for prospects.
To overcome these challenges, Sales Innovations for prospect management provides features that help businesses efficiently create prospect lists and implement outreach programs at scale to convert the prospects into customers. Sales Innovations is appropriate for the businesses that target a specific segment of prospects and are prepared to create that segment in Data Cloud.
For sales reps working on a smaller scale to discover and nurture prospects, Prospecting Center is ideal. Sales reps can use Prospecting Center to identify suitable prospects across multiple segments.
The Sales Innovations for Prospect Management Process
With Sales Innovations, businesses can supercharge their prospect management process and deliver transformative business results.
Generally, using Sales Innovations is a four-step process that involves three personas: Salesforce admins, list creators, and sales agents. Those list creators are often sales leaders, such as a senior sales executive.
Different features help each persona perform their tasks to meet their goals. This table breaks down the process into the features used for each step.
Step |
Persona |
Feature |
|---|---|---|
1. Create a list of prospects or an actionable list from a CRM Analytics dataset or a Data Cloud segment. |
Admin or list creator |
Actionable Segmentation used by admins, and List Builder for Data Cloud Segment used by list creators |
2. Configure the actionable list, and assign it to sales agents. |
List creator |
Actionable List Members |
3. Engage with prospects. |
Sales agent |
Outreach List and Actionable List Engagement |
4. Monitor the actionable list’s performance and process prospects |
List creator |
Key Performance Indicator (KPI) Bar to monitor performance, and Bulk Action Panel to process prospects |
Sales Innovations for Prospect Management In Action
To better understand Sales Innovations, consider Ursa Major Solar, Inc., a Southwest-based supplier of solar components and systems. A few years back, the company expanded and entered the growing electric vehicles market. To increase its market share, Ursa Major recently launched its new electric scooter, R1 Pro Max.
Ursa Major plans to implement a strategy that involves a buyback and upgrade program. A customer can exchange their old scooter and buy the new R1 Pro Max at a discount. The company wants to roll out the program to existing customers whose scooters are less than 3 years old.
Ursa Major puts Salesforce admin Maria Jimenez at the helm of implementing the program using Sales Innovations for prospect management.
In this module, you learn how to configure and use Sales Innovations in the prospect management process. You also get an overview of how list creators create and assign actionable lists to sales agents, and how sales agents engage with prospects.
Now that you have an understanding of Sales Innovations and its purpose, proceed to the next unit to learn how to configure the List Builder for Data Cloud Segment and Actionable List Members features. With these features, list creators can create an actionable list from a Data Cloud segment and assign the actionable list to a sales agent for prospect engagement.