How to Create and Manage Your White Label Software Prospect List
In the fast-paced world of software sales, a well-structured prospect list process is an absolute game-changer for white-label software partners. I won’t sugarcoat it: identifying and sticking to an effective method can be downright challenging, especially if you’re starting a white-label software company for the first time.
After engaging countless prospects and building a customer base of 10,000+ merchants, our team at textLIVING has learned invaluable lessons when it comes to selling software. That’s why we intentionally invest in our white-label partners — equipping them with the tools to manage their sales portfolio and training them based on the best practices we’ve learned. In this article, we wanted to offer the process we use when creating and managing a prospect list.
The Secret to Software Sales Success: Process
If there’s one thing I’ve learned after years of selling software, it’s that your process is often the most critical factor for being successful. Every business has specific accounting, operations, or customer service processes. But many times, when it comes to sales, everyone has their way of doing things. I genuinely believe that the greatest salespeople have an effective sales process. You can still incorporate your style when meeting with prospects, but your process is what provides direction.
A proven process offers clarity and momentum in your monthly, weekly, and daily workflows. Building a software prospect list is not a one-time event. It’s an ongoing process requiring you to be on the lookout for new leads. The more you do, the better your chances of success.
When you have a healthy process for managing your prospect list, you know precisely what to focus on each month — closing several important deals or building up your lead list for the future. You can organize your week based on upcoming meetings and spend time each day confidently preparing for meetings rather than scrambling last minute to recall important information.
4 Steps to Create and Manage Your White-Label Software Prospect List
1. Identify the target audience and most beneficial industries.
The first step in building a software sales prospect list is identifying your ideal customer. This is not just about finding people interested in your product — it’s about finding people actively looking for solutions to their problems. The more you can understand their needs, the better you’ll be able to position your product as the solution.
For example, at textLIVING, our software is most helpful for brick-and-mortar businesses that rely on repeat customer visits. Our white-label partners have successfully sold our software to restaurants and other service-oriented merchants. If you’re just starting out as a white-label software partner, leveraging the insights and relationships you’ve developed from other ventures can be helpful.
2. Build a quality lead list of decision-makers.
Once you’ve identified your ideal customer, it’s time to build a list of prospects. You can conduct online research, network with people that you meet, or even make a list of eligible businesses while driving around town.
When selling software to a restaurant or local business, it is essential to identify the right decision-maker. There are a few ways to identify the right person. You can ask your contact who is responsible for making purchasing decisions. You can also look at the company’s website or social media pages. At textLIVING, one of our greatest lead sources comes from a third-party tool called Data Axel. Once you have identified the decision-maker, you can tailor your sales pitch to their needs and interests.
3. Use an intuitive CRM to track your progress and results.
Every good sales professional knows the importance of a CRM that can help you to create and manage your prospect list by storing contact information, tracking interactions, and noting progress. This information is beneficial for prioritizing your leads and focusing your sales efforts.
TextLIVING uses HubSpot as our CRM system. We equip every white-label partner with a process for using HubSpot to create and manage their prospect list.
4. Work smarter when it comes to building relationships.
Whether you’re a full-time software sales pro or you’re building a white-label business as a side hustle, you want to spend time on activities and meetings that generate results. The good news is that there are various ways to work smarter when managing your prospect list.
To work more effectively, identify the activities that have the most significant impact on sales and allocate more time to them. Utilize automated email sequences in your CRM that allow you to save time and effort while nurturing leads effectively.
Learn More Skills for Selling White-Label Software
By following these steps, you can create a list of prospects most likely interested in your software. You can then use this list to focus your sales efforts and increase your chances of closing deals.
At textLIVING, we equip our white-label partners and software sales professionals with the insights and tools they need to be successful. If you want to learn more about building a successful white-label business, we invite you to check out our resources.
We also invite you to follow our free MasterClass series. Here are a few specific sessions to consider:
- Blocking and Tackling: Overcome Software Sales Challenges When You’re in the Trenches
- How to Earn an Extra $6K per Month with textLIVING
- Demystifying White-Labeling: What it Really Takes to Run a “Business in a Box”