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How and Why to Use Trigger Events for Sales Prospecting

Let’s face it: Trigger events are so important because they give you a prime opportunity to maximize the effectiveness of your sales pitch and close a deal.

As a salesperson, timing is everything. Selling your product or service at the optimal time can be the difference between making a minor profit or major bank. In the competitive market, it’s paramount that you keep the upper hand and make your pitch at the best possible moment. Trigger events help with sales prospecting by indicating the best time to sell your product or service.

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Photo Credit: B2B Lead Blog

What is a trigger event?

A trigger event is an occurrence that leads to a sales opportunity. Some of the most common trigger events for a business include new funding rounds, mergers and acquisitions, hiring C-level staff, laying off team members, and restructuring personnel. Mergers and acquisitions, increases and decreases in investments, and expansion of a company through new hires or office locations are additional examples of trigger events.

Most changes can be trigger events. Founding a company, acquiring a new customer, losing a consumer, offering a new product and letting go an existing vendor can all indicate pathways to change and opportunities for sales. Taking on more of a broad point of view, any industry changes, competitor adjustments, awards or special events are trigger events.

Why do trigger events matter?

Company changes offer a window of opportunity to make a sale – one you should take advantage of before it closes. If a company replaces its leadership, for instance, the new executives could be seeking a change and require RFPs as they re-evaluate spending on products and services they outsource. A company is primed, then, to be more open to working with new businesses, customers and investors.

Increases in investments, sales, staff, and office locations indicate a company is growing meaning it likely has a greater amount of revenue coming in to spend on products and/or services.

When a business receives accolades or begins hosting special industry events, it’s garnering or seeking greater attention, offering the perfect opportunity to pitch a product or service that could help keep its momentum moving forward. If a prospective lead just got upstaged by a competitor, it may drive them to seek alternatives that will help them outshine that rival. That’s where you come in, offering a product or service that can push that prospective lead to that next level.

How to track trigger events?

There is a multitude of ways to track trigger events. Google allows you to set up alerts whenever a set search term is mentioned, so simply input the names of your potential leads and you’ll get an email when a business is mentioned in the news or anywhere on the web.

You can also set up alerts for Facebook and Twitter. In the millennial age, social media is sometimes the first channel where a business will post their breaking news. Being the first to know when a potential lead makes a big announcement or becomes a trending topic can give you a time advantage when it comes to making a pitch.

LinkedIn also has a feature where you can set up alerts when jobs at a company are advertised. This can alert you to potential personnel changes or places where your product or service can assist a team that is short-handed for a period of time. It’s a great initial foot in the door for a sales pitch.

Signing up to get information from resources such as Crunchbase can provide valuable data on a company’s investments and funding activity, which can indicate that a business has money to invest in your product or service. Any substantial funds that move in and/or out of a company will help you to identify the best time to pitch, or conversely, when to wait for a more opportune time.

Advanced Search Capabilities with Crunchbase Pro

Staying on top of industry news can sometimes be the best indicator of trigger events. As a salesperson, it will greatly benefit you to regularly check up on news relating to the industry you are targeting. Subscribing to sites such as Cision’s PR Newswire, Crunchbase News, and Crunchbase Daily can help you stay in the know on impactful events.

How Crunchbase can help

Regularly monitoring a company’s activities can be time-consuming and waste valuable resources while also costing a lot of money. So let Crunchbase Pro send you all of the important information you seek. Whenever a company you want to monitor attains funding,  or does something of note, Crunchbase will let you know about it. If you’re searching for potential leads to actually begin with, Crunchbase can help refine your search with customizable filters that can include budget and specific areas and industries.  If you’re interested in real-time updates or push notifications for trigger events, check out Crunchbase Enterprise.

Generating a potential lead is just the first step toward making a sale. Crunchbase can help narrow down your search to find the best leads for your business. The key to turning a lead into a sale is knowing when to sell your product or service. By identifying and tracking trigger events, you’ll be able to react to potential sales opportunities more quickly and increase your likelihood of beating competitors to a new prospect.