Sales prospecting: how to find, qualify and research B2B accounts

Sales prospecting is the work of finding the companies and people most likely to need what you sell, checking that they fit, and learning enough about each one to make a first contact worth their time. Most of the effort is research, not sending. A short list of well-chosen accounts, each with a reason to contact them now, usually beats a long list you know nothing about.

This page covers the research: defining who to look for, building and filtering the account list, finding the right person and preparing for the first contact. Cold outreach to executives covers the contact itself, and account-based selling covers working a small number of large accounts in depth.

A worked example: work-order software for property managers

Suppose you sell software that tracks maintenance requests and work orders for residential property management companies. You have eight paying customers and want the next twenty. This example is hypothetical and used throughout the page.

Define who to look for from your best customers

Start from evidence rather than a wish list. Look at the customers who bought quickly, use the product and would recommend it. Write down what they have in common:

• Company traits: type of property, number of units managed, number of sites, region.
• Situation: what was happening when they bought. In the example, several had just taken on a new portfolio and their maintenance team was overwhelmed.
• The person: who found you, who used the product and who approved the purchase.

If you have no customers yet, use your discovery calls instead, and treat the result as a hypothesis to check. Sales discovery questions can help you collect that evidence.

Write the description in one or two sentences: "Residential property managers with 500 to 5,000 units across several sites, whose maintenance coordinators track requests by email or spreadsheet, usually after a recent growth in portfolio."

Build the first account list

Combine a few sources, and record where each account came from:

• Industry classification. The NAICS system is the standard federal statistical agencies use to classify business establishments. Knowing the exact industry name helps you search association directories, government data and data tools consistently.
• Associations, events and directories. Member lists and exhibitor lists often name the companies active in a niche.
• Public filings. For public companies, EDGAR's search tools include company search and full-text search across more than 20 years of filings. A 10-K's Item 1 describes the business, according to Investor.gov.
• Prospecting databases. Tools such as Apollo, ZoomInfo and LinkedIn Sales Navigator are built for finding companies and contacts. Check each tool's current filters and data coverage for your niche before you pay for it. The comparisons of Instant Expert vs Apollo, Instant Expert vs ZoomInfo and Instant Expert vs Sales Navigator explain what those tools are for.
• Referrals. Ask current customers which peers have the same problem.

Filter by fit, then by timing

Fit tells you whether the account could buy. Timing tells you whether it might buy soon. Check fit first, because it is cheaper.

A hypothetical funnel for the example, to show the arithmetic:

The numbers are illustrative, not benchmarks. The point is that most of the filtering happens before anyone receives a message.

Useful timing signals are specific and public: job postings for roles your product supports, a new site or acquisition, a new leader in the function you sell to, or a regulatory change affecting the industry. Treat each one as a reason to ask a question, not proof of need.

Find the person who owns the problem

For each account, identify who does the work and who approves spending on it. Titles vary a lot between companies. In property management, maintenance might sit under a director of operations, a regional manager or a facilities lead.

Check the person's own description of their role, recent posts and any public talks. If you cannot tell who owns the problem, it is fine to contact someone nearby and ask. A short message that says "I think this sits with whoever runs maintenance scheduling. Is that you or someone else?" is honest and easy to answer.

Write two lines of research per account

Before any first contact, write down:

1. Why this account: the fit and the timing signal. "Took on 1,200 units in Phoenix in August; hiring two maintenance coordinators."
2. Why this person: what in their role connects to the problem. "Regional operations director; the coordinator roles report to her."

If you cannot fill both lines, the account is not ready. Move it back to the list and research it later.

Track what you learn

Keep a simple record per account: source, fit, signal, person, date contacted, response and what you learned. After a month, look at which sources and signals produced conversations and which did not, and adjust the description. Prospecting improves by changing who you look for, not only by changing what you send.

When you need to learn before you sell

Early on, it is often worth talking to people in the target role before approaching buyers, to check whether your description of the problem is right. Instant Expert can find people who match a description, such as "maintenance coordinators at residential property management companies." You review who it finds, it sends your invitations, and you pay only for calls that get booked. The directory pages for engineering professionals in property management and procurement professionals in property management are one place to start.

Your next step

Write your one-sentence account description from your best three customers. Then build a list of 50 accounts, filter it by fit and timing, and write the two research lines for the top ten before contacting anyone.