Posted by Indusa Admin on November 20, 2014 12:52 pm
Cold calling is exactly what it sounds like: uncomfortable, unwelcome, and tedious. Some say it’s a numbers game, others say luck plays a large role. For both sales representatives and call recipients, the cold call is a relic that has not quite disappeared from business protocol. But, what if there was a way to generate new leads that did not depend on either luck or large volumes? With the increasing use of data and an emphasis on market research, there are smarter ways to approach customers that will make cold calls a lot warmer.
Sales triggers help generate new leads and convert existing leads into customers. For this reason, we’ve pulled together some information to outline what sales triggers are, provide some examples, and explain why it’s important to use them and how you can get started.
What are Sales Triggers?
Sales triggers are typically events that signal change in the company’s operations or priorities. These triggers provide sales professional with the key insights they need in order to have richer conversations with prospective customers. As an indication of their effectiveness, the use of sales triggers is on the rise.
Examples of Sales Triggers
When thinking about trigger events, we thought it would be helpful to highlight some examples. Here are a few that come to mind:
- Leadership change, such as when key executives of a company leave, join, or are promoted
- Funding updates, such as when a company receives a new round of funding or investment
- Regulatory or legislative changes that will impact how a company has to conduct business
- Competitor has entered the scene by launching a new product
The Importance of Sales Triggers
Why is a trigger such a useful tool for building sales pipeline? Triggers help you get in front of the right people at the right time, with the right business context, to offer something priceless: relevance. Most executives do not appreciate receiving phone calls from strangers asking them to explain their business. A call that opens with a relevant note or offering, however, may perk their ears.
As Mark Lindwall commented earlier this year, Forrester’s research indicates, “…When you get in early and help create the solution vision with the buyer that you win more. Our research proves that this win rate is upwards of 74%.” Triggers give you information that helps you find the right prospects, faster.
For example, imagine you manufacture equipment for food services companies. Your salespeople may try to call company after company with no luck. But if they were tapped into a trigger that flagged when a company hires a new executive, then they could call in and say, “Congratulations on your new role! We know you’re excited to take this company to improved directions, and we’d love to help you get there.”
For a new executive, this is a context-appropriate gesture and the communication could provide useful information as they tackle urgent priorities. Craig Elias, creator of Trigger Event Selling, says, “…Research shows that sellers who leverage Trigger Events are up to five times more likely to win the sale.”
Getting Started with Sales Triggers
Incorporating triggers into your sales process can be as simple as:
- Setting up Google Alerts
- Following annual reports and press releases
- Tracking staffing shifts via LinkedIn
- Conducting regular rounds of market research surveys
Triggers can even integrate with your CRM, so that whenever you pull up an account, you can see the latest, detailed information about that company’s situation.
It’s time to say goodbye to cold calling and approach your customers in a smarter way. To improve your luck and probability in gaining warm leads, take a closer look at sales triggers. Which triggers would help you reach your prospects faster and with more relevant offerings? We hope this post provided you with the information you need to get started with sales triggers.
About the Author – Shital Shah
Shital Shah has diverse experience in management and strategic consulting with technology-based businesses. She has managed global teams and led projects in 16 countries. Shital focuses on strategic and operational planning and management for Indusa.