Timing is everything. If you contact a prospect right after they buy an expensive competitive product, they're not going to bite.
But if you find out they're in the market for a new vendor, you can reach out to your prospect before they begin researching, which ensures your message will be received with much more interest.
What is a Trigger Event?
A trigger event is any occurrence that creates an opening for a marketing or sales opportunity. Sales and marketing automation workflows use trigger events to enable small organisations to scale customer interactions.
Most trigger events are a bit more subtle than a public social media post announcing “I’m looking to purchase X, any suggestions?” You’ll need to be in tune with your audience and prospective clientele in order to detect the shifts in their position that can make your outreach more successful.
Striking the iron while it’s hot will also allow for a much quicker signing of a deal on average, as the timing to purchase for your lead would be right and your job would mainly consist of qualifying them and making sure that you are providing the most value to them.
So, what do some of the more common Trigger Events look like, and how can we make sure to catch them?
1. New Executives
A change in power structure and dynamics will often bring a restructuring of a company, at different levels. A new executive of a company will often look to make their mark and shake things up, they are more open to fresh ideas and the perfect target for a dedicated pitch.
You’ll want to keep track of a prospective business’ press releases, roster hiring shifts and LinkedIn updates in order to notice when new executives are being promoted.
2. New Job/Role for Current Contact
A former client moving higher up the corporate ladder or to a new company can easily be your way to get your foot in the door, reach out and see if they'd like to bring your product or service along for the ride. If your offering made them look good in their last role, they'll likely look to repeat this in their new position.
Once again, LinkedIn is your friend to track your contacts’ movements.
3. Large Customer Announcement
If your prospect has just landed a significant account, they're about to have a lot more money rolling in and there’s a good chance they’ll look to expand. Reach out with a suggestion on how to use some of that cash to their benefit.
4. Company Expansion or Relocation
A physical relocation may also necessitate new supplies and services, depending on your geographic position you may be the best fit for the role.
Track this event with: Google alerts, press releases page.
5. New Product/Service Announcement
A new product or service rollout also represents a potential expansion for a company, and they are moving into uncharted territory. Use your expertise and market knowledge to be their guiding hand, and see if your own products and services can be of assistance with the transition.
This can also apply to major marketing and advertisement campaigns from your leads, as they represent an immediate investment.
Track this event with: Google alerts, press releases page, industry news, social media.
6. Competitive Product/Service Announcement
If one of your leads has just suffered a blow from their competition, they will be looking to strike back. This can represent an opening for you, and if you can assist them in their goal your message will be most welcome.
Track this event with: Google alerts, press releases page, industry news, social media.
7. Dissatisfaction with Current Vendor
This one is fairly straightforward, if one of your leads is unhappy with their current providers, jump on the opportunity. You will need to rely on more than straightforward press releases to find this out but this can represent a very good opportunity for you.
Track this event with: Industry news, social media (indirectly).
8. Good or Bad
When a company is doing poorly, their aim is to turn the corner. Evaluate their quality to the best of their ability and help them get back on the saddle.
Conversely, when a company is doing well they’ll likely look to reinvest the extra cash earned to grow even further.
Track this event with: SEC filings, earnings calls, industry news.
9. Mergers and Acquisitions
The coming together of two organisations is a golden chance to earn add-on revenue, and to redistribute their combined budgets. If one of the two halves of the company was already your client, make sure to jump on the opportunity to be the service provider for the joined company.
Track this event with: Google alerts, press releases page, industry news.
10. Significant Changes in Hiring Velocity
If a company is recruiting or releasing staff at a much higher rate than usual, they are likely undergoing some form of restructuring, which may lead to them looking for new vendors.
Track this event with: Google alerts, industry news, press releases page.
11. Major Industry Development and new Legislation
Technological breakthroughs and Government support/hindrances in an industry segment always come with large growth fluctuations, and any savvy company will look to match that level of growth or even beat it with their own. If you can help with their new goals, make sure to reach out quickly.
Track this event with: Industry news.
12. Evidence of Interest
If a company’s representatives have been reading your emails, interacting with your social media content or posting interest in products within your scope of environment, the message is fairly easy to catch.
Track this event with: Social media.
And with that, I hope you can see the value in covering these informational platforms, as they can let you know so much more about your leads and your field of operations.
Much of your sales training goes beyond direct interaction with your clients, and can be performed as part of your daily news stroll, with the added benefit of helping you stay on top of all recent industry trends.
