Latest / What is Business Development? / Episode 68: BD-BOK...Chapter 11 How To Find Prospects Ready to Buy

Transcript

Episode 68: BD-BOK...Chapter 11 How To Find Prospects Ready to Buy · What is Business Development?

• 0:00
  Speaker 1: Welcome to the deep dive. We're here to translate dense
• 0:03
  Speaker 1: strategy docs and research into well insights you can actually use.
• 0:07
  Speaker 2: And today we're hitting a big one. It's something fundamental
• 0:10
  Speaker 2: for any business developer, but honestly often kind of ignored.
• 0:14
  Speaker 1: Right the math of momentum, specifically this question how many
• 0:19
  Speaker 1: leads that you're targeting right now are actually ready to
• 0:22
  Speaker 1: buy like right now.
• 0:24
  Speaker 2: It's such a critical question. So often sales efforts run
• 0:28
  Speaker 2: on this gut feeling that you know, there must be
• 0:30
  Speaker 2: a bigger pool of buyers out there.
• 0:32
  Speaker 1: Than we're reaching. But the sources we're digging into today
• 0:35
  Speaker 1: they bring the hard.
• 0:36
  Speaker 2: Numbers, yeah, and they reveal a pretty start truth. Only
• 0:39
  Speaker 2: a tiny fraction of your total addressable market is ever
• 0:42
  Speaker 2: truly in market at any one time.
• 0:44
  Speaker 1: So today our mission is clear. We're arming you with
• 0:46
  Speaker 1: a strategic framework for active prospecting. We're looking at account
• 0:50
  Speaker 1: based marketing versus content.
• 0:51
  Speaker 2: Based market ABM versus CBM, yeah, and figuring.
• 0:54
  Speaker 1: Out how you can stop maybe wasting effort on the
• 0:57
  Speaker 1: vast majority that ninety percent, focus on efficiently capturing the
• 1:02
  Speaker 1: active ten percent. We're going beyond just the rules of
• 1:04
  Speaker 1: thumb here, how do you tailor this for your specific product,
• 1:09
  Speaker 1: your market cycle.
• 1:10
  Speaker 2: And we absolutely have to start with the foundational statistic.
• 1:13
  Speaker 2: It was really popularized by Chet Holmes back in two
• 1:16
  Speaker 2: thousand and eight his book The Ultimate Sales Machine, very influential.
• 1:20
  Speaker 1: That book kind of set the stage for this whole
• 1:23
  Speaker 1: distribution model of intent, right for book B to B
• 1:27
  Speaker 1: and B two.
• 1:27
  Speaker 2: S it really did. Okay, so let's unpack what Holmes found.
• 1:30
  Speaker 2: He saw that at any given moment, the market is
• 1:32
  Speaker 2: just heavily skewed towards inertia. People aren't buying.
• 1:35
  Speaker 1: So what are the key buckets here? What do we
• 1:37
  Speaker 1: need to recognize?
• 1:39
  Speaker 2: Okay, right at the very top, you've got the prospects
• 1:41
  Speaker 2: with immediate intent. Holmes calculated that only about three percent
• 1:45
  Speaker 2: of prospects are in what he called the conversion phase.
• 1:47
  Speaker 1: Conversion phase meaning they've recognized the problem, they've looked at options,
• 1:52
  Speaker 1: they're ready to sign.
• 1:54
  Speaker 2: Now pretty much, they've picked up the pen, so to speak.
• 1:56
  Speaker 2: Then there's a slightly larger group, and this one's often
• 1:59
  Speaker 2: more important tortally. That's the seven percent.
• 2:01
  Speaker 1: Okay, seven percent, These.
• 2:03
  Speaker 2: Folks are in the activation phase. They're actively aware they
• 2:06
  Speaker 2: have a problem or a need, they're just starting to
• 2:08
  Speaker 2: look around for solutions, maybe defining what they actually need.
• 2:11
  Speaker 1: Right. So these two groups together, the three percent plus
• 2:15
  Speaker 1: the seven percent, that's your ten percent total, that's what
• 2:18
  Speaker 1: we call in.
• 2:19
  Speaker 2: Market, exactly in market. But then comes the really staggering part.
• 2:22
  Speaker 2: The other ninety percent.
• 2:24
  Speaker 1: A vast majority.
• 2:25
  Speaker 2: Yeah, they have zero intent towards your product, your solution,
• 2:30
  Speaker 2: anything like it right now.
• 2:31
  Speaker 1: And Holmes broke that down further. Didn't he into sort
• 2:34
  Speaker 1: of equal chunks.
• 2:35
  Speaker 2: He did, roughly three equal buckets of thirty percent each.
• 2:39
  Speaker 2: You've got thirty percent who are just not thinking about
• 2:41
  Speaker 2: the problem at all, another thirty percent don't think they
• 2:44
  Speaker 2: have a need, maybe not yet, and the last thirty
• 2:46
  Speaker 2: percent they're absolutely not interested. Maybe they're happy with what
• 2:48
  Speaker 2: they've got, a legacy system, or they just don't see
• 2:51
  Speaker 2: how it's relevant to them.
• 2:52
  Speaker 1: Raw. So ninety percent are essentially off the radar for
• 2:56
  Speaker 1: an immediate sale exactly.
• 2:58
  Speaker 2: And what's fascinating and a bit worried is how many
• 3:00
  Speaker 2: businesses budget based on that ten percent figure. They assume
• 3:04
  Speaker 2: one in ten people they contact is ready for a
• 3:06
  Speaker 2: serious chat.
• 3:07
  Speaker 1: But that ten percent that's just the generic baseline, isn't it.
• 3:11
  Speaker 2: That's the key point. It's generic. You absolutely need to
• 3:14
  Speaker 2: customize that math for your specific situation.
• 3:17
  Speaker 1: Because if you've built your whole annual plan assuming a
• 3:20
  Speaker 1: ten percent pool and your reality is say five percent
• 3:24
  Speaker 1: or even less.
• 3:25
  Speaker 2: What happens to your Q three Q four forecast? It collapses.
• 3:29
  Speaker 1: Yeah, that really shows the gravity of getting this calculation right.
• 3:32
  Speaker 1: So how do we get surgical? How do we figure
• 3:33
  Speaker 1: out the number for our specific market?
• 3:36
  Speaker 2: Okay, this is probably the most critical piece of this
• 3:38
  Speaker 2: whole discussion. Relying on Holmes's general numbers for like a
• 3:43
  Speaker 2: specialized sauce product or a niche service, that's just it's
• 3:47
  Speaker 2: a recipe for wasting resources.
• 3:49
  Speaker 1: So we need our own in market percentage.
• 3:51
  Speaker 2: Precisely, and the way to calculate that hinges on figuring
• 3:54
  Speaker 2: out something called the interpurchase weight the IPR IPR.
• 3:57
  Speaker 1: Okay, let's walk through this math carefully. Listeners might want
• 4:00
  Speaker 1: to grab a calculator or at least in notepad. We're
• 4:03
  Speaker 1: finding the real time size of the buying pool.
• 4:05
  Speaker 2: Step one, determine the IPR. You need actual data here,
• 4:10
  Speaker 2: surveys primary research. You have to find out, on average,
• 4:14
  Speaker 2: how often your target market buys a product like yours.
• 4:17
  Speaker 1: Right. The source material used as a car example.
• 4:19
  Speaker 2: I remember, yes, consumer car purchase. The IPR there is
• 4:23
  Speaker 2: estimated at about six years. People buy a new car
• 4:26
  Speaker 2: roughly every six years.
• 4:27
  Speaker 1: Okay, Step one, find the IPR with's step two.
• 4:31
  Speaker 2: Step two establish the annual buying pool. Take your total
• 4:35
  Speaker 2: number of potential buyers in the car example. Let's say
• 4:38
  Speaker 2: three hundred and thirty million Americans, and divide that total
• 4:41
  Speaker 2: by the IPR by the six years.
• 4:43
  Speaker 1: Okay, So three hundred and thirty million divided.
• 4:45
  Speaker 2: By six years gives you fifty five million. That's the
• 4:47
  Speaker 2: number of Americans buying a car each year. That's your
• 4:50
  Speaker 2: annual pool. But crucially, they aren't all shopping at the
• 4:53
  Speaker 2: same time.
• 4:54
  Speaker 1: Right, They don't all buy on January first, which brings
• 4:56
  Speaker 1: us to step three.
• 4:57
  Speaker 2: I assume exactly Step three account for the sales cycle
• 5:00
  Speaker 2: time buyers aren't actively in market, researching and deciding for
• 5:04
  Speaker 2: the whole year. How long does it typically take someone
• 5:06
  Speaker 2: to research and buy a car.
• 5:08
  Speaker 1: Maybe h three months seems reasonable for a big purchase
• 5:11
  Speaker 1: like that.
• 5:12
  Speaker 2: Okay, let's use three months. So you take that annual pool,
• 5:14
  Speaker 2: the fifty five million buyers, and you divide it by
• 5:16
  Speaker 2: the number of sale cycles that fit into a year.
• 5:19
  Speaker 1: If a cycle is three months, there are four cycles
• 5:21
  Speaker 1: in a year. So fifty five million divided by four.
• 5:23
  Speaker 2: You got it. And that calculation, fifty five million divided
• 5:27
  Speaker 2: by four gives you thirteen point eight million people. That number,
• 5:31
  Speaker 2: thirteen point eight million represents the real pool of active
• 5:34
  Speaker 2: car buyers at any given moment.
• 5:36
  Speaker 1: Wow. Okay, so thirteen point eight million at any one time.
• 5:40
  Speaker 2: Now compare that back to the total population thirteen point
• 5:43
  Speaker 2: eight million out of three hundred and thirty million Americans.
• 5:46
  Speaker 2: That's only about four percent.
• 5:48
  Speaker 1: Four percent. That's way down from the generic ten percent
• 5:50
  Speaker 1: rule of thumb.
• 5:51
  Speaker 2: Massive difference, isn't it. Think about it. If your whole
• 5:54
  Speaker 2: sales comp plan, your marketing budget, your lead gen targets
• 5:57
  Speaker 2: are based on hitting a ten percent.
• 5:58
  Speaker 1: Pool and the reality is less than half that size.
• 6:01
  Speaker 2: You're set up for failure or at least a huge
• 6:03
  Speaker 2: amount of inefficiency and frustration.
• 6:05
  Speaker 1: That calculation alone is it's a game changer. It just
• 6:08
  Speaker 1: highlights how vital is to figure out your true IPR.
• 6:11
  Speaker 1: You could be chasing a two percent pole thinking it's
• 6:13
  Speaker 1: ten percent.
• 6:14
  Speaker 2: Absolutely, So, okay, let's say you've done the math you
• 6:16
  Speaker 2: have your refined realistic percentage. Now the question shifts. It's
• 6:21
  Speaker 2: not just how many buyers are out there, but who
• 6:24
  Speaker 2: should we target within that group, and how where.
• 6:27
  Speaker 1: Should business developers really focus their energy For the best results.
• 6:32
  Speaker 2: You really want to aim for the sweet spot, and
• 6:34
  Speaker 2: that's generally agreed to be the seven percent in the
• 6:37
  Speaker 2: activation phase.
• 6:38
  Speaker 1: The ones who know they have a problem that are
• 6:39
  Speaker 1: just starting.
• 6:40
  Speaker 2: To look exactly they're problem aware, they're actively looking, but
• 6:44
  Speaker 2: and this is key, they haven't mentally committed to a
• 6:47
  Speaker 2: specific solution or vendor yet.
• 6:49
  Speaker 1: So this is where our engagement effort gives the best return.
• 6:53
  Speaker 1: We can engage efficiently but also effectively nurture.
• 6:57
  Speaker 2: Them precisely, it's the optimal time for a prospect. You
• 7:00
  Speaker 2: get the chance to influence their requirements, to frame the
• 7:03
  Speaker 2: solution around your unique value proposition. This is where those
• 7:06
  Speaker 2: nurturing models, maybe something like nice nurture intent cycles of
• 7:10
  Speaker 2: engagement really shine.
• 7:11
  Speaker 1: You guide them towards conversion, but hopefully with your product
• 7:14
  Speaker 1: already top of mind.
• 7:15
  Speaker 2: That's the goal. But what about the three percent? The
• 7:18
  Speaker 2: ones ready to convert right now? Seems like easy pickings.
• 7:21
  Speaker 1: Right, Yeah, surely we jump on those leads. First, they're
• 7:24
  Speaker 1: banging on the door.
• 7:25
  Speaker 2: Well, prospecting that three percent is definitely efficient. The sale
• 7:30
  Speaker 2: could happen very quickly, minimal effort to close. Perhaps, But
• 7:35
  Speaker 2: there's a butt, there's a big butt. It's often not effective.
• 7:39
  Speaker 2: Think about it. By the time a prospect sends out
• 7:41
  Speaker 2: an RFQ or asks for detailed pricing, they've already done
• 7:45
  Speaker 2: a lot of homework.
• 7:46
  Speaker 1: Ah, and they might already be leaning heavily towards a competitor.
• 7:51
  Speaker 2: Very likely, they could be three days deep into final
• 7:53
  Speaker 2: negotiations with your main rival by the time they're hot
• 7:56
  Speaker 2: lead hits your inbox.
• 7:57
  Speaker 1: That's the bluebird opportunity, isn't it.
• 7:59
  Speaker 2: I've heard that, that's exactly it. Every beady person knows
• 8:02
  Speaker 2: this feeling. You get, this lead seems ninety percent close,
• 8:05
  Speaker 2: You think yes.
• 8:06
  Speaker 1: Easy win, only to find out the decision was basically
• 8:09
  Speaker 1: made last week and you're just calum fodder or they
• 8:11
  Speaker 1: need a backup quote. The bird was already caught by
• 8:14
  Speaker 1: someone faster.
• 8:15
  Speaker 2: It's a tough pill to swallow. Sometimes the leads that
• 8:18
  Speaker 2: look the easiest, the most efficient, are often the least
• 8:22
  Speaker 2: likely for you to actually win because you were too
• 8:24
  Speaker 2: late to shape the deal.
• 8:25
  Speaker 1: Okay, so focus on the seven percent, be wary of
• 8:28
  Speaker 1: the three percent. What about that massive bottom ninety percent,
• 8:31
  Speaker 1: the zero intent crowd?
• 8:33
  Speaker 2: Right, this is what we could call the warning zone
• 8:35
  Speaker 2: for active prospecting. Trying to generate immediate sales from this
• 8:39
  Speaker 2: group is highly, highly inefficient.
• 8:41
  Speaker 1: It takes the most time, the most resources, just to
• 8:43
  Speaker 1: get them to even acknowledge a potential problem exists.
• 8:46
  Speaker 2: Exactly. You're starting from absolute zero, but there is a
• 8:51
  Speaker 2: potential upside a trade off, which is potential long term effectiveness.
• 8:56
  Speaker 2: Because they have zero preconceived notions, Targeting the ninety percent
• 9:00
  Speaker 2: gives you the absolute maximum opportunity to shape their requirements
• 9:03
  Speaker 2: from the ground up.
• 9:04
  Speaker 1: You get to define the problem.
• 9:06
  Speaker 2: For them and position you're offering as the ideal, maybe
• 9:09
  Speaker 2: the only solution that fits the problem. You just help
• 9:12
  Speaker 2: them discover That.
• 9:13
  Speaker 1: Sounds like a huge strategic effort, Yeah, very expensive, immense.
• 9:17
  Speaker 2: It's usually only financially viable for large corporations selling very
• 9:22
  Speaker 2: expensive complex solutions. Think major enterprise software, huge infrastructure projects.
• 9:28
  Speaker 1: Where the eventual deal size justifies that massive maybe multi
• 9:33
  Speaker 1: quarter or even multi year investment needed just to create
• 9:38
  Speaker 1: awareness and spark interest in that ninety percent group.
• 9:40
  Speaker 2: Correct, and this strategic split deciding whether to primarily chase
• 9:44
  Speaker 2: the top ten percent or cultivate the bottom ninety percent.
• 9:48
  Speaker 2: That lines up perfectly with the two main marketing strategies
• 9:50
  Speaker 2: we mentioned.
• 9:51
  Speaker 1: Earlier, account based marketing ABM and content based marketing CBM.
• 9:55
  Speaker 2: That's the connection. ABM is generally geared towards waking up
• 9:58
  Speaker 2: that bottom ninety percent, while CBM is designed more for
• 10:01
  Speaker 2: engaging the top ten percent.
• 10:03
  Speaker 1: Okay, so let's break those down. How do they work
• 10:05
  Speaker 1: and how do they differ, especially in how they use
• 10:07
  Speaker 1: data that seems.
• 10:08
  Speaker 2: Critical, absolutely critical. Let's start with account based marketing ABM.
• 10:11
  Speaker 2: Think of this as the proactive approach for reaching into
• 10:14
  Speaker 2: that ninety percent.
• 10:15
  Speaker 1: How does it start?
• 10:16
  Speaker 2: It typically starts with business development identifying specific high value
• 10:20
  Speaker 2: target accounts by name, you know, the classic dream one
• 10:24
  Speaker 2: hundred list or whatever.
• 10:25
  Speaker 1: You call it. And these accounts have to be pre
• 10:27
  Speaker 1: qualified right, fit the ideal customer profile, have the budget,
• 10:31
  Speaker 1: the need, potentially referenceable.
• 10:34
  Speaker 2: All of that. BD essentially hands this list of desirable
• 10:38
  Speaker 2: but likely inactive accounts.
• 10:40
  Speaker 1: Over to marketing and marketing's job is.
• 10:42
  Speaker 2: Marketing's job is to go hunting for any sign of life,
• 10:45
  Speaker 2: any flicker of potential intent from those named accounts, and
• 10:49
  Speaker 2: they use everything they can get their hands on, data.
• 10:51
  Speaker 1: Wise, monitoring all intent signals, all of them.
• 10:54
  Speaker 2: Zero party, first party, second party, and very importantly for ABM,
• 10:58
  Speaker 2: third party data.
• 11:00
  Speaker 1: Okay, we need a quick definition here. This data hierarchy
• 11:03
  Speaker 1: is crucial for understanding the difference between ABM and CBM.
• 11:07
  Speaker 2: It really is. Think of it like a pyramid of reliability.
• 11:10
  Speaker 2: Zero party data is the absolute best. It's data the
• 11:13
  Speaker 2: prospect intentionally and proactively shares with you, filling out a
• 11:17
  Speaker 2: preference center telling you their goals, gold standard.
• 11:20
  Speaker 1: Okay. Then first party.
• 11:22
  Speaker 2: That's data you collect yourself through direct interactions on your
• 11:24
  Speaker 2: own digital properties, website visits, content downloads, webinar, attendance form
• 11:29
  Speaker 2: fills on your site you own and control.
• 11:32
  Speaker 1: This makes sense. Second party that's.
• 11:34
  Speaker 2: Basically someone else's first party data that they share with you,
• 11:37
  Speaker 2: usually through a direct partnership agreement. Maybe a complementary company
• 11:42
  Speaker 2: shares anonymized data. Still quite reliable because you know the.
• 11:45
  Speaker 1: Source got it zero first second, pretty reliable direct sources.
• 11:51
  Speaker 1: Now third party data that's the big one ABM often
• 11:55
  Speaker 1: leans on.
• 11:55
  Speaker 2: Yes, third party data is aggregated from many different sources
• 11:58
  Speaker 2: across the web, off and collected by data brokers or
• 12:01
  Speaker 2: publishers who track browsing behavior, content consumption on other sites,
• 12:05
  Speaker 2: keyword searches, et cetera.
• 12:06
  Speaker 1: So it's broad, high volume, but less precise, less reliable.
• 12:11
  Speaker 2: Generally, Yes, it can signal that someone at a target
• 12:14
  Speaker 2: company might be researching a topic, but it's often less
• 12:17
  Speaker 2: clear who specifically or how serious the intent really is.
• 12:20
  Speaker 2: It's more directional, sometimes noisy.
• 12:22
  Speaker 1: Okay. So ABM uses all four types, including that broad
• 12:25
  Speaker 1: third party data, to cast.
• 12:27
  Speaker 2: A wide net trying to detect any early sign that
• 12:30
  Speaker 2: someone in that ninety percent at a target account is
• 12:32
  Speaker 2: maybe starting to think about the problem. The goal is
• 12:35
  Speaker 2: to maximize awareness and spark engagement, pushing them into that
• 12:39
  Speaker 2: seven percent activation phase.
• 12:41
  Speaker 1: And trying hard to filter out the thirty percent who
• 12:43
  Speaker 1: are absolutely not interested even with all that data.
• 12:46
  Speaker 2: That's the ideal, yes, Now, contrast that with content based
• 12:50
  Speaker 2: marketing CBM.
• 12:51
  Speaker 1: Okay, CBM. This one targets the top ten percent primarily.
• 12:54
  Speaker 2: Yes, it's more reactive. It's designed for prospects who are
• 12:57
  Speaker 2: already showing signs of being problem aware. They're in the
• 13:00
  Speaker 2: seven percent activation phase already.
• 13:02
  Speaker 1: And CBM tries to avoid the three percent conversion phase.
• 13:06
  Speaker 2: Folks, the bluebirds generally yes, because the opportunity to influence
• 13:10
  Speaker 2: them might have passed. CBM's method is much more focused
• 13:13
  Speaker 2: on data reliability. How So, CBM typically relies almost exclusively
• 13:18
  Speaker 2: on zero party, first party and second party intent signals,
• 13:21
  Speaker 2: the high quality, high reliability stuff.
• 13:23
  Speaker 1: So it ignores the broader, potentially noisier third party data.
• 13:27
  Speaker 2: Largely Yes, it uses that more granular, reliable data to
• 13:31
  Speaker 2: confirm an account is genuinely in market and ideally still
• 13:35
  Speaker 2: in that influenceable seven percent activation phase.
• 13:38
  Speaker 1: And once CBM identifies those active prospects using reliable data,
• 13:44
  Speaker 1: what's the approach.
• 13:45
  Speaker 2: The approach is to deliver highly relevant, valuable content directly
• 13:49
  Speaker 2: to them. Think targeted case studies, in depth white papers,
• 13:53
  Speaker 2: specific solution guides, ROI calculators.
• 13:55
  Speaker 1: Content designed to nurture them, exactly.
• 13:57
  Speaker 2: To nurture those activation phase prospects, answer their questions, build trust,
• 14:02
  Speaker 2: and gently guide them into the conversion phase, but with
• 14:05
  Speaker 2: a strong preference for your solution already established because of
• 14:08
  Speaker 2: the value your content provided.
• 14:10
  Speaker 1: Okay, comparing the two CBM sounds potentially more efficient.
• 14:13
  Speaker 2: It often is yes, Because it's identifying and engaging accounts
• 14:17
  Speaker 2: that are already demonstrating active interest in intent through reliable signals.
• 14:21
  Speaker 2: There's less effort needed theoretically to move them down the
• 14:23
  Speaker 2: funnel compared to waking up someone from the ninety percent.
• 14:26
  Speaker 1: And the reliance on zero first and second party data.
• 14:29
  Speaker 1: That has another benefit too, right, Yeah, specificity.
• 14:32
  Speaker 2: Huge benefit that higher quality data often reveals intent signals
• 14:37
  Speaker 2: tied to specific individuals within the account, the people who
• 14:40
  Speaker 2: actually make up the buying committee, not just a general
• 14:43
  Speaker 2: signal that the account might be.
• 14:45
  Speaker 1: Interested, so you know who to target within the company.
• 14:47
  Speaker 2: Which makes your outreach much more effective. ABM might tell
• 14:51
  Speaker 2: you account X is interested, while CBM using first party
• 14:55
  Speaker 2: data might tell you Jane Doe, VP of OPS at
• 14:58
  Speaker 2: account X just downloaded our implementation guide. Much more actionable.
• 15:02
  Speaker 1: That distinction is incredibly valuable. Okay, this has been a
• 15:06
  Speaker 1: fantastic deep dive. Let's try and crystallize this. What does
• 15:09
  Speaker 1: this all mean for the business developer listening right now
• 15:12
  Speaker 1: planning their strategy for tomorrow.
• 15:13
  Speaker 2: Let's boil it down top three takeaways you really need to.
• 15:16
  Speaker 1: Hold on to go for it.
• 15:17
  Speaker 2: Take Away Number one, customize your market math seriously, never
• 15:22
  Speaker 2: ever just rely on that generic ten percent rule. You
• 15:25
  Speaker 2: must do the work to calculate your specific interpurchase rate IPR.
• 15:29
  Speaker 1: Remind us quickly survey purchase frequency.
• 15:31
  Speaker 2: Yeah, survey frequency. Divide your total potential buyers by that
• 15:35
  Speaker 2: IPR to get the annual pool, and then critically divide
• 15:38
  Speaker 2: that by the number of sales cycles per year to
• 15:41
  Speaker 2: account for timing.
• 15:42
  Speaker 1: That gives you the real time percentage of your specific
• 15:45
  Speaker 1: market that's truly in market at any moment. Don't chase
• 15:48
  Speaker 1: that ghost ten percent exactly.
• 15:50
  Speaker 2: Know your real number. Takeaway number one.
• 15:52
  Speaker 1: Take Away number two.
• 15:53
  Speaker 2: Focus on activation. That seven percent group in the activation phase,
• 15:57
  Speaker 2: that's your strategic sweet spot. They offer the best balance
• 16:00
  Speaker 2: of efficiency and effectiveness for proactive engagement, for shaping requirements,
• 16:05
  Speaker 2: and the three percent treat The three percent conversion phase
• 16:07
  Speaker 2: leads as potentially efficient but inherently risky blue bird opportunities.
• 16:13
  Speaker 2: Go after them, sure, but manage expectations. Don't bet the
• 16:16
  Speaker 2: farm on them.
• 16:17
  Speaker 1: And recognize the huge costs. If you decide to actively
• 16:20
  Speaker 1: prospect that bottom ninety percent, it's a major strategic investment.
• 16:24
  Speaker 2: A massive one. That's takeaway too. Focus energy wisely based
• 16:27
  Speaker 2: on the phase all right, and the third key takeaway
• 16:30
  Speaker 2: align your strategy to intent data. Understand the fundamental difference
• 16:34
  Speaker 2: between ABM and CBM in how they use data.
• 16:37
  Speaker 1: ABM the proactive, often more expensive approach for the ninety percent,
• 16:42
  Speaker 1: using the broad net of all data signals, including third party, to.
• 16:45
  Speaker 2: Spark awareness and generate new interest. Conversely, CBM is the
• 16:48
  Speaker 2: more reactive, often more efficient approach for the active top
• 16:52
  Speaker 2: ten percent, and.
• 16:52
  Speaker 1: CBM relies strictly on those reliable, zero, first and second
• 16:56
  Speaker 1: party data signals to identify and nurture existing confirmed intent.
• 17:01
  Speaker 2: Precisely. Know which strategy fix which goal, and which data
• 17:04
  Speaker 2: fuels each engine. That's takeaway three.
• 17:06
  Speaker 1: Fantastic summary. Now connecting this to the bigger picture, If
• 17:10
  Speaker 1: CBM really highlights the power and reliability of that zero
• 17:14
  Speaker 1: and first party data, the data you collect yourself, where
• 17:16
  Speaker 1: the customers actively give you, it really raises a crucial
• 17:19
  Speaker 1: question for everyone listening, doesn't it. How can your b
• 17:21
  Speaker 1: D strategy, maybe, starting right now, pivot more resources towards
• 17:26
  Speaker 1: actively generating, capturing, and then utilizing those high quality owned intent.
• 17:31
  Speaker 2: Signals instead of perhaps over relying on broader, less reliable,
• 17:36
  Speaker 2: often expensive third party data.
• 17:38
  Speaker 1: Feeds.
• 17:39
  Speaker 2: That's the provocative thought making that data pivot. While that's
• 17:43
  Speaker 2: often the real difference between just chasing a dream of
• 17:45
  Speaker 2: potential buyers and efficiently capturing actual tangible revenue.
• 17:49
  Speaker 1: A powerful thought to end on. Thank you so much
• 17:51
  Speaker 1: for walking us through.
• 17:52
  Speaker 2: This my pleasure. It's crucial stuff.
• 17:54
  Speaker 1: And thank you all for joining us for this deep
• 17:56
  Speaker 1: dive into the math of prospecting. We'll get you next
• 17:59
  Speaker 1: time on the Deep Dive