Inbound and Outbound Sales Tactics for IP Firms
It's rare for a business not to be active in obtaining new customers. Even if they are doing it subconsciously: from advertising on Google to writing articles, participating in conferences, or even the understandably not-so-popular cold calling, IP Firms need to actively reach out to their audience using different sales methods. In this article, we are going to discuss the two main types of sales activities, inbound and outbound sales. Let’s see how you can nurture these tactics to increase the number of leads!
Inbound sales - How to get clients without reaching out to them?
This is much more than a fashionable buzzword in the sales world because it encompasses all the activities that lead to the customer coming to you. It goes hand in hand with marketing and aims to build the image of a credible, authentic, and competent company that is a leader in its market.
This is particularly true for IP Firms, which operate in a space where clients are insufficiently informed and expect their representatives to take care of their cases from the very first step, be it patent management or representation in a copyright dispute.
The suitable inbound sales channels for IP Firms are the following:
● Blogs: An underrated but very effective way to "speak directly to your potential customers." You can show that you speak their language and that you are the one to turn to when a particular problem arises.
● PR Article: Why would you even pay for a PR article in 2021? If your business name and website link appear on a popular website, Google will rank your website better, and your potential customers will find you more easily.
● E-books: Gain attention and, more importantly, contact information with a shiny e-book that provides real value to your customers upfront.
The real sales process begins when the client arrives, but this time you already have the more comfortable position of an established market expert. Prepare yourself with a few questions, understand what the customer needs, and consider how to maximise the value provided.
Outbound sales - When you go out for a hunt!
"The customers are out there; they just don't know they want to buy from you yet. So you've got to convince them," sounds like a scary and, for many, nearly impossible sales approach that often leads to negative results and frustration on both sides. Blind cold calling for a large mass of businesses is probably the worse activity to spend your time and money on.
A much more effective method is to focus on quality instead of quantity, and for that, you will need to qualify businesses before even getting in touch with them. As a first step, start by identifying the common traits in your previous buyers:
● Were they SMBs or enterprises?
● Who was your main point of contact on their side?
● What was their challenge?
● Where were they located?
Based on your responses, you can create a potential buyer persona - a decision-maker you can target with advertising and outreach messages. If you are not comfortable with cold calling, Linkedin's Sales Navigator can be an excellent complementary option. Search for your prospects on the platform and filter them until you have a list of a few dozen perfect matches. Send them a friend request, and make your first message very personalised. You'll see much better results right away.
The most successful IP Firms use both inbound and outbound sales channels to reach prospects. Alternatively, you can set up the process through a third-party lead generation and business development provider, like Lead IP.
Check out our blog for more tactics to boost your business development efforts, and check out our website for more information about our lead generation services.