How to prospect on LinkedIn?
After multiple months of work and prospecting, we obtained two efficient LinkedIn prospecting methods, each one presenting pros and cons. Today, we want to explain to you these two ways and why you should wonder which one you should choose for your prospecting. 😊
To prospect on Linkedin, it is clear that first, you need to have:
- Optimized your LinkedIn profile
- Identified and segmented your target
LinkedIn open question’s strategy
Your initial contact is made with an open question. Let’s take an example: we are currently targeting marketers in our prospecting. One of our strategy consists of asking a question like:
“Hello John, as a marketer, I would like to know more about your acquisition via LinkedIn. I would be glad to discuss it with you.”
Write this message directly in the note or in the first follow-up.
This open question strategy is very useful because you show interest to your prospect. In many cases, we obtain very interesting pieces of information on their LinkedIn use, which expand our knowledge and allows us to sharpen our personas.
We are currently developing a SaaS and we are looking for tips on how to improve our acquisition. As a marketer, what would you advise? Here’s a link to get a glimpse of what we do (your website’s link).
Thank you in advance.”
This message gave us very interesting answer rates (between 8 and 10% on a note). But it is very complicated to measure whether prospects convert better or not at the end of the funnel.
The don’ts when prospecting on LinkedIn
In one sentence, what you shouldn’t do: all that is not customized! Here are some examples…
- “Hello, I would like to join your network”
- “Hello, I saw your profile and I think we have a common interest”
Also, you’ll have better acceptance rates but in the end, you’ll convert less afterward.
Don’t forget: even with an automation tool, you can implement customization: you just need to make good searches ! 😊
Solicitation’s strategy to prospect on LinkedIn
Then, for our second method, we led a more “classic” prospecting approach. In general, conversion rates are less interesting in this method.
Our example: to add a presentation of your activity in your first note or message.
We have developed a tool allowing for significantly saving time in leads BtoB acquisition on LinkedIn. It’s a safe and very handy automation tool, here’s the link if you’re interested: (your website’s URL)”.
This approach is a bit robotic but nevertheless very often used. Why? The sequel of our analysis will deal with the qualitative vs the quantitative approach.
Two methods conflict: ROI vs Conversion!
The qualitative approach
By showing interest to your prospect, you attract curiosity. Everyone likes to generate interest. The more you customize your message, the more you’ll get interesting results. Besides, at ProspectIn, we work on an advanced customization method, to combine benefits from both the quantitative and qualitative methods.
- More involvement/retention
- Possibility to customize your speech according to your prospects’ feedback (I don’t use the same speech if a prospect answers “I use LinkedIn to generate BtoB leads” or “I use LinkedIn to broadcast my content”)
This method is way more time consuming: your answer rates are better but you must engage and hold a conversation with each one of your prospects to transform them into qualified leads, understand their needs and suggest them the offer that suits them the best.
The quantitative approach
This approach aims for the “spam”. If you use it in your notes, it represents an important advantage: prospects that are unqualified or not interested won’t accept you. Kind of an “unsubscribing” to your initial contact which prevent you from spending time to chat with cold prospects. You save more time since you send your prospects directly toward your website which handles the conversion.
The bulkier it is, the less qualified it is. When you use this method, you risk missing prospects who won’t answer, because this approach is too straightforward or your intention to sell them something is too obvious.
When to use this method?
In reality, here you need to think in terms of ROI (Return On Invest). If you sell a high-priced product or service, it is in your interest to use the first method. Your conversion process will probably be longer and the amount of time to be spent more important, but you must take the time to convert every prospect, even if this means limiting your prospecting volume.
However, if your product or service sells at a lower price, and if your potential prospects volume is important, you should use the second method: if your product/service costs 2€ per month, you obviously can’t spend many hours chatting with each one of them.
The interest of transactional scenarios
No matter the method you use to prospect on LinkedIn, you must create upstream your LinkedIn transactional scenarios. On average, you get a 3 to 10% answer rate on a customized invite note, while you’ll get a 60% acceptance rate: you should thus follow-up with the vast majority of your prospects. To automate this process, you can use scenarios.
To send or not to send an invite note on LinkedIn?
Our first intuition is to say that it depends on personas and above all on the profile with whom you’re prospecting. We are currently carrying out a very thorough case study to determine which note performs the best and if you need or not an inviting note. An article will soon come to explicit our results, stay tuned. 😉
What about you? What do you think about both of these methods? A lot of people only swear by customization.
At ProspectIn, we also prefer customization. To create real interactions with prospects allows for better understanding their needs. But sometimes, the bulk method can also be interesting.