Strategically Building a Comprehensive Prospect Database
A crucial strategy to boost attendance rates at B2B networking events involves starting with a meticulously crafted list of prospective participants. Our team is presently engaging in a trade delegation project, spearheaded by a collective of overseas companies pioneering innovative solutions throughout the automotive industry's value chain. This delegation includes eight distinctive companies, each offering unique contributions.
Creating an extensive database of prospects is fundamental for the success of any B2B meeting event. To cultivate this list effectively:
The Foundation: Understand the Industry Value Chain:
Initiate the process by analyzing the value chain to pinpoint the positions of your host companies. Assess their contributions, customer base, potential partners, distributors, and competitors. Narrowly target your prospect identification, focusing on specific company types with precise qualification criteria. Typically, omit competitors to foster a collaborative environment.
Identify Relevant Industry Associations:
Tap into industry associations, which are rich sources for networking and market intelligence. Their membership often includes key industry figures, and the directories provide insights into companies' operational facets. Utilizing these resources can significantly elevate your prospect list's relevance.
Leverage Networking and Information Platforms:
Utilize platforms like LinkedIn, which offers tools for identifying prospective companies and key contacts. Another valuable resource is Lusha, which provides similar services. These platforms can expedite the identification of market key players, though they may not encompass the entire market spectrum.
Conduct Internet and News Searches:
Employ creative research techniques, such as Google searches and news monitoring, to identify emerging market participants, new ventures, or companies undergoing expansion or significant investment changes. Public companies, in particular, disclose substantial investment shifts to regulators, presenting unique opportunities to identify prospects early in their decision-making journey.
Verify Your Prospect List:
Before initiating contact, ensure your list is credible. While verifying every company may be impractical, consider conducting random checks or focusing on specific segments. Initial verification can include basic information like revenue size or business registration details, noting that availability may vary by country.
By implementing these steps, your prospect list will not only be comprehensive but also targeted, increasing the likelihood of a successful and well-attended B2B networking event.
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