Prospecting
Prospect research for sales conversations
Research an account for a useful sales conversation: check sources, separate facts from interpretations and prepare one question to test.
Prospect research should give a representative a sound reason to investigate an account, a question the prospect can answer, and a clear record of what remains unknown. Public information cannot establish that someone has a problem, wants to buy, or has agreed to be contacted.
Decide what the research needs to answer
Start with the next decision: investigate this account, raise a particular business question, or pause. Check the current offer's service requirements and the account's ownership record. A confirmed service mismatch calls for an eligibility decision; an active conversation belongs with its current owner.
For a first conversation, gather only enough context to avoid an irrelevant premise. An account's website may describe its operations or announce a plan. An internal record may show what someone previously told your team. ASIC's business names register can identify who holds a registered Australian business name, but it says nothing about that holder's current priorities.
For a registered business name, ASIC's register can be searched by the business name or by its holder. A holder search can use a person's or organisation's name, ABN or ACN. Most register information is free, so it can help check which person or organisation holds a name before treating that name as the account's legal identity.
The free register information includes the holder's name and the business's ABN, service-of-documents address, principal place of business, registration date, next renewal date and whether the registration is current. For an individual holder whose home is the principal place of business, the register shows only the suburb, state and postcode for that address. These details can establish registration facts, not business priorities.
A trading name is not necessarily a registered business name: trading names do not appear on ASIC's business names register. ASIC directs searches for trading names to ABN Lookup. Treat a missing register result as a limit of that source, rather than proof that an organisation does not operate under the name.
Public Information vs. Actionable Insights in Prospect Research
- What Public Information Can ConfirmRegistration status, legal entity details (e.g., ABN, ACN), business name ownership, principal place of business, renewal dates, service-of-documents address.
- What Public Information Cannot ConfirmCurrent business priorities, intent to purchase, existing problems, willingness to be contacted, completion of announced plans.
Key Facts from ASIC Business Names Register
- Free AccessYes – most register information is available at no cost.
- Search OptionsBy business name, holder name, ABN, or ACN.
- Information IncludedHolder name, ABN, service-of-documents address, principal place of business, registration date, next renewal date, registration status.
- Address DisclosureFor individuals with home as principal place of business, only suburb, state, and postcode are shown.
Turn an observation into a question
Suppose a hypothetical company announces plans to add a customer service channel. That announcement supports a narrow observation: the company has stated a plan. It may prompt a question about how enquiries will move between channels. It does not establish that the current process is failing.
| Record | What it means |
|---|---|
| Sourced observation | What the account or another appropriate source actually says, including its date and whether it describes a plan or completed change. |
| Possible implication | A seller’s interpretation of work that might be affected. |
| Conversation question | Something the prospect can confirm, correct or dismiss. |
If you cannot connect the observation to work your current offer addresses, do not turn it into an outreach premise. A timely announcement cannot repair a confirmed offer mismatch.
Check the limits of each source
A company announcement establishes what the company announced, not whether a plan was completed. A job advertisement establishes that a role was advertised when viewed, not that the team is understaffed. A dated internal conversation record shows what a contact said then, not necessarily what is true now.
Record the source, date and precise claim. Check later direct information before using an old observation as current. If a material point remains unsettled, label it unknown and check it or ask a neutral question. Do not present an inference as the account's own view.
Keep the research proportionate
Focus on the organisation and the work relevant to the offer. Avoid collecting personal details merely because they are public. Where the Australian Privacy Principles apply, OAIC guidance limits collection of personal information and requires reasonable steps concerning its quality.
Check applicable Australian spam requirements before sending a commercial electronic message. A useful research finding does not itself establish permission to contact someone.
For an organisation covered by the Australian Privacy Principles, OAIC guidance says APP 3 permits collection of personal information only when it is reasonably necessary for the organisation's functions or activities. For an agency, the test is whether collection is reasonably necessary for, or directly related to, its functions or activities. Personal information must be collected by lawful and fair means.
APP 3 treats collection as solicited when an APP entity explicitly asks an individual or another entity to provide personal information, or takes active steps to collect it. That distinction matters when deciding whether research involves simply consulting existing material or actively gathering personal information. Collect only what is needed for the research decision, rather than building a personal profile.
Sensitive information has an additional APP 3 condition: the collection must meet the relevant necessity test and the individual must consent, unless an exception applies. OAIC guidance also says personal information should be collected from the individual concerned unless that is unreasonable or impracticable, subject to additional exceptions. These requirements apply to APP entities, not automatically to every seller or every piece of public information.
When an APP entity collects personal information, APP 10 requires reasonable steps to ensure it is accurate, up-to-date and complete. When the entity uses or discloses that information, reasonable steps must also ensure it is, having regard to the purpose of the use or disclosure, accurate, up-to-date, complete and relevant.
The steps depend on factors such as sensitivity, possible adverse consequences, the entity's circumstances, and practical limits including time and cost.
Leave a brief record for the next decision
Record the account and offer, the sourced observation, its possible relevance, one question to test, material unknowns, and the ownership and contact-permission checks. A colleague should be able to distinguish source wording from seller interpretation without rereading a long company profile.
If the prospect corrects the premise, update the record with what they actually said.
In this guide
- Finding a relevant business reason to contact an accountTest whether an account development gives you a current, offer-related question without treating a public signal as proof of need.
- Separating verified account facts from assumptionsCheck what an account source actually establishes, label seller inferences and keep uncertain claims out of sales conversation premises.
- Preparing a concise prospect research notePrepare a brief pre-contact research note with a sourced observation, seller inference, open question and routing checks.
