As a B2B sales rep, you probably know the importance of contacting the right prospects at the right time. Unfortunately, determining who to contact and when to contact isn't always easy. There are certain "trigger events," however, that can help you make these decisions. If you're tired of a sky-high rejection rate, consider the following trigger events in your sales efforts.
One trigger event to look for is the expansion of a prospect's company. Maybe the company has opened a second location, or perhaps they are expanding into new territories. Regardless, this growth provides sales opportunities for your own company. If a company is growing, they might be interested in your company's B2B products or services. So, contact companies during or shortly after an expansion to increase your chances of success. Monitor press releases, Google alerts and local news websites to find this trigger event.
If a company has changed its leadership by hiring new C-suite executives, it's probably a good time to contact them. Because they are a new addition to the company, these fresh executives are more likely to purchase B2B products or services to prove their worthiness. You can track this trigger event using Google Alerts, social media, corporate websites and press releases.
Of course, relocation is another sales trigger event to look for. When a company relocates to a new area, it may seek products or services to establish a foothold in its new location. Look for this trigger event using Google Alerts, LinkedIn and Facebook.
It shouldn't come as a surprise to learn that new funding is a sales trigger event. All companies need capital to sustain and grow their business. When a company acquires new funding, it usually means they have extra capital to spend, thus offering opportunities for B2B sales reps. You should contact companies with new funding to see if they are interested in your products or services. Monitor Google Alerts, press releases and social media for this trigger event.
When a company announces a new product or service, you should contact them. The launch of a new product or service means the company is exploring new territory, thus they may be interested in your company's B2B products or services. Use social media, Google News and Google alerts to track this trigger event.
Publicly traded companies are required to disclose their earnings. You can use this to your advantage by looking for prospects' companies that report low quarterly earnings. Shareholders typically want change when low earnings occur. Therefore, companies may spend more on B2B products and services. In addition to traditional channels like Google Alerts, you can also track this trigger event through SEC filings.
On the other hand, high earnings can also yield new opportunities for B2B sales reps. With more capital on hand, these companies may seek your company's products or services to accelerate growth. Using Google Alerts and SEC filings to track this trigger event.
Whether it's a merger or acquisition, these shakeups often force companies to restructure their leadership and operations. And with these changes comes the perfect time for B2B sales reps to contact them. Monitor Google News, social media and press releases for this trigger event.
Don't forget to monitor your email marketing campaigns, as this can reveal when to contact a prospect. If a prospect is opening your emails, it usually means he or she is interested in what your company offers. In contrast, prospects that leave your emails sitting unread in their inbox have a low chance of buying your product or service. Use email marketing analystics software to track this trigger event.
Pay attention to the news regarding your target audience's industry. If the federal or state government passes new legislation affecting your audience's industry, it might be a good time to contact them. Use Google Search and Google Alerts to track this trigger event.
Anytime a prospect's company is mentioned in the news, you should consider contacting them to pitch your product or service. Public exposure such as this often stimulates a company's spending, even if the coverage is negative. Use Google Alerts, news websites and press releases to look for this trigger event.
Companies typically hire new talent for one of two reasons: expansion or leadership change. Either way, it's the perfect opportunity to contact them and pitch your product or service. Track this event using job-finder websites like CareerBuilder and Indeed as well as Google News.
Consider what the employees say about the company for whom they work. They'll often provide invaluable insight into the company, revealing whether the company is growing or expanding. Use Glassdoor.com to track this trigger event.
Companies that begin to sell their stock on the open market (Initial Public Offering) are often looking to buy B2B products or services. Monitor Google News, SEC filings and press releases for this trigger event.