Advancing the Prospecting Practices for Effectiveness and Cost Efficiency
Mushtaq, Rizwana (2020)
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Increasing business by acquiring a new customer base and generating valuable leads is important for any business. Among these, Prospecting is one of the most important stages of a sales cycle. However, despite being one of the fundamental components of the marketing and sales cycle, prospecting is usually done using manual tools and data collection methods. This is also a challenge for the case company of this Thesis, which results in issues like overutilization of resources, expenses, and reduced efficiency and effectiveness of the sales force. The objective of the study was to propose ways that can be used for automating prospecting and lead generation. The case company is an online chat service provider agency that provides its services in Finland. The company utilizes manual data collection, prospecting, and lead generation methods which have caused a burden in the marketing budget of the company. The study investigated the issues in the current prospecting practices that are used in the case company and explored the existing knowledge and best practice on the automation of prospecting practices. The outcome of the study was built based on internal interviews with the sales team of the company, the team lead, and the marketing head. The proposal contains a range of suitable alternatives and better options for prospecting practices proposed to CRO of the company.