market analysis

Automating Sales Prospecting Emails

Raj Anand

Raj Anand, Goodman Lantern

Does writing sales emails take a lot of time out of your day? Each prospecting email can take around ten minutes to write. Wouldn’t it be better to make the process a lot faster?

Analyze Your Mails

Carefully reading through your sales prospecting emails is the best place to start. Find the personalized aspects of your email, and try to automate them!

- Avoid being too personalized - it’s a waste of time.

- Find the personalized sections and analyse them.

- Search for data that could replace the section entirely.

Using the Data

It’s important to ask the right questions to make sure you’re making the best decisions:

- Question 1: Can the personalised section be replaced?

- Question 2: If not, can company or personal data be used instead?

- Question 3: Ifdata not, can a range of data points be combined?

- Question 4: Is it possible to find the data quickly?

Once you have worked through the process it’s time to edit your emails and add in the personalized aspects of your mail. You’ll save time, send more emails, and get more responses as a result!

Price Comparison Websites are Not the Enemy

All things considered, businesses can learn a great deal from price comparison websites. Rather than viewing them as the enemy aiming to pull customers out from under your nose, you may wish to consider the value in using these sites for market research. The Internet is quickly becoming the number one place to source the next big bargain. Consumers tend to visit price comparison websites before making any major (sometimes even minor) decisions that require money-spending. It isn't all about finding the lowest price tag. Price comparison sites can be used to find out precisely who is selling what, how much products cost, and what buyers really think of the products they have spent their hard-earned money on. User ratings and customer reviews may very well be the most useful tool available to business owners today. Realistically, when launching a product, you need to know exactly what consumers are looking for, how other companies have let them down, and how you can take advantage of these companies' shortcomings.

Price comparison websites offer the fantastic opportunity to do some trend-spotting. Find out which items are trending in which markets, and why. Hopping on the trend-bandwagon is generally a good start when you need to find a good angle in the market.

Market Analysis: Understanding your Customers

In order for any business to succeed, an understanding of customers' wants and needs is vital. It is of the utmost importance to gain an understanding of your market long before you take a serious financial plunge. A properly structured market analysis will provide you with all the information needed to make smart choices further down the line. Without this solid foundation, any business may struggle to stay afloat, let alone play in the "big leagues". Consumer research is generally the best starting point for market analysis. In order to provide customers with a product or service that they truly need, you need to understand their behaviour a little better. Find out what makes your potential customers tick, and then find out how your product will be able to fulfill these needs. Open up the channels of communication, do a survey or two, and spend some time figuring out how you can gain the edge on your competitors. Do some trend-spotting, and zone in on any gaps in the market that your company may be able to fill.

Decide on your target market and then build the rest of your business plan around this focus. Play to your strengths.

Market Analysis: Step One in Compiling your Business Plan

Conducting a market analysis should be the first step in compiling a business plan. Whether you are starting up a new business or whether you are attempting to spice up your existing company, your market analysis should be refreshed once a year. Quite obviously, markets change. That is the nature of human existence. Wants and needs are ever-growing, constantly changing, and (with the evolution of technology) becoming more and more complex. In doing your market analysis, what you should be looking at is your potential market rather than your existing client base. You already have your current clients in your back pocket. You know what keeps them happy. What you need is access to a wider client base. You need to find a way to not only dip your toes into this pool of untapped customers, but to swim with the big fish and rise to the top of the food chain.

Consider your favourite restaurant. Its client base includes not only regular patrons, but pretty much anyone within easy travelling distance. If the establishment is a specialty restaurant, their targeted customers will include anyone with an interest in that specific cuisine. Essentially, that is how market analysis works. You need to find a way to cast a wider net to bring in the customers you do not yet have instead of being complacent about the ones who do make use of your services on a regular basis. Success depends on your ability to adapt and survive in a world that is getting bigger by the day.