Are you using sales triggers effectively? Or are you missing a trick?
If you’re not sure, then read on. In this blog, we’ll:
- Tell you what sales triggers are.
- Show you how to spot a potential trigger.
- Give you a list of the top triggers in B2B sales.
- Outline tips to use trigger events to your advantage.
Keep reading! 👇
What are sales triggers?
A sales trigger event in B2B is a chance to make a sale at a targeted company. Say you sell SaaS. When new managers enter a role, they assess the company’s tech stack. This is an opportunity to pitch your product.
Trigger events can be anything from a company merger to a recruit, and they’re great opportunities to personalise your outreach and make a deeper connection.
In some cases, this will be an entirely new interaction. In others, the trigger could mean reviving a cold prospect. Not using them means missed opportunities.
But, with some research, you can become sales trigger-happy in no time.
The top 12 triggers to track for more sales opportunities
When it comes to B2B sales, certain triggers help to close deals and grow your business. The top triggers in B2B sales include the following:
1. New C-Suite executives
If a company you’re B2B prospecting to appoints a new executive into a decision-making or strategic role, then this could be a signal to make your move.
New executives will want to make their mark quickly and will have more freedom to make decisions. They could be open to discussing if your product or service could help create a strong position. It’s worth taking some time for research.
Find out about the new appointee’s background. Consider whether the appointment could signal broader changes in the organisation.
The more you know about the circumstances of the new C-Suite and its strategic direction, the better.
If you want to monitor this sales trigger manually, follow companies across social media and watch for updates.
2. Company performance
Markets fluctuate, and company performance can change. Watch out for any particularly good or bad results for your prospects.
If they’ve performed well, they’re likely to have more money to spend on products that could help them even more. If they haven’t…
You might think a company suffering from financial issues isn’t worth the investment. But if you’re someone who can offer a solution to their problem, this sales trigger is well worth tracking.
A prospect isn’t likely to divulge their money problems, but you can discover this by yourself; all you need to do is keep an eye out for anything that links to:
- Bankruptcy.
- Stock decreases.
- Missing revenue.
- Legal battles.
You might find deeper issues at work than just financial problems.
For instance, there could be an underlying compliance issue, and if you can help them stay out of hot water or generate revenue, the deal is likely yours.
To manually track this trigger, set up Google Alerts and follow industry news, company press releases, and social media.
3. New funding
New funding for any company is a clear signal that there’s more money to spend. And what better way to spend it than on your product?
Reach out confidently and early, demonstrating how you can help them meet their objectives.
This might be particularly useful if budgets were a previous barrier. An increase in available funds might signal a willingness to continue earlier discussions.
To manually track this sales trigger event, follow company filings, share prices, and analyst reports to see when you can step in.
4. Sector announcements
If your prospect announces a new offer, it could mean they’re venturing into a new area. They might also announce a key new client or multiple new clients.
This is your chance to intervene and offer them insight into investing their new earnings, say, in your product or service.
It’s not only investing in a product or service that benefits their business. Often, the more significant the client, the more problems they’ll need help solving.
You might also find they need new or different types of support. Could your organisation help them reach their goal?
If your prospect’s competitors announce, your contact will likely want to respond quickly.
Could your product or service help them? If you answered yes to either of those questions, use these announcements as your sales trigger.
To manually track this trigger, set up Google Alerts and follow industry news, company press releases, and social media.
5. New legislation
Changes in legislation often require business processes to adapt. Anyone using personal data within the EU will know all too well the changes that GDPR demands.
If you can provide a solution to the challenges created by new legislation, then step in.
Chances are you might be able to help them get used to a new way of working, keep them out of trouble or offer a solution to any problems.
Open the conversation with helpful marketing material demonstrating your knowledge of the subject. And make sure to follow up with how your solution will help.
To manually track this trigger event, follow industry news.
6. Hiring strategies
Have you noticed a change in the recruitment strategy of the company you’re prospecting? This might involve taking on new talent, hiring for new roles, or laying people off.
Depending on what you sell, increasing or decreasing employees at your prospects’ company is an important trigger event. It’s likely to signal other internal developments. Could it be a new operating model? Or a new direction? Study the changes and identify where your product or service could provide solutions.
For example, hiring new executives is a great event trigger in SaaS sales because they want to make an impact and will work hard and explore all their options.
Meaning:
They’ll make significant changes, establish new initiatives, and spend their budget on products that add value to the business.
If an executive you previously worked with is leaving the company, it’s not a train smash. You can ensure they take your product with them to their new organisation.
To track this trigger manually, use LinkedIn, social media, and company press releases. Also, follow industry news and set up Google Alerts.
7. Conferences and events
Most sectors will have regular conferences and events. Ensure you know when these are, what topics they cover, and which of your prospects will be involved.
Watch out for any events your prospect may be hosting or attending, such as:
- Conferences.
- Conventions.
- Celebrating a new client.
- Launching a new product.
They’ll need assistance, and you might offer the exact help they need.
To manually track this sales trigger, set up Google Alerts and follow industry news, company press releases, and social media.
8. Major industry developments
Like legislative changes, major developments within an industry mean that all companies will need to adapt. Consider the opportunities that sector developments could open for your organisation.
Is extra support or guidance needed that you can provide? Or can your products or services deliver a solution to new challenges?
To manually track this sales trigger, you’ll want to set up Google Alerts and follow industry news, company press releases, and social media posts.
9. Company relocation, expansion or merger
When a company moves offices, shrinks, grows, or merges with another, it creates B2B lead generation opportunities. A merger, acquisition or expansion might mean that you can extend your offer to new parts of the firm.
If a company is expanding, they’ll have a lot of incoming revenue they don’t mind spending. Extra spend is vital for many companies, especially those in the B2B SaaS sales sector, for scaling their business and meeting their growth targets.
This is the perfect opportunity to present the service you specialise in, as chances are they will need it!
Existing contacts might act as champions for your company, creating new prospects. Office moves might require different types of support. Do your research to find out how your offer can help.
To tell if a company is growing, you need to look out for:
- Expansion.
- Consolidation.
- Relocation.
- The mass hiring of employees.
- One or more new office locations.
- Multiple fundraising events.
To manually track this sales trigger, set up Google Alerts for your prospects and follow their press releases. You can also follow industry news and monitor LinkedIn.
💡 Discover how to use Cognism to track growth, funding or hiring triggers with this virtual product tour.
10. Changing job role or title
Don’t lose the contacts you’ve built just because they change roles. The move might mean opportunities for you if they stay within the organisation. They may be able to extend the use of your product or service in their new role or department.
Or they might become a champion for your organisation in another part of their firm. The opportunities should be clear if they move to a new company. Reach out with congratulations, and find out how you can continue to work together.
Monitor social media and industry news for updates to track this sales trigger manually.
11. Evidence of interest
Social media makes this one possible! Look at the trigger events your prospects are posting about.
Are they interested in particular types of products? Are there common areas that you can connect over? Are they expressing dissatisfaction with one of your competitors?
To track this trigger manually, follow your prospects’ social media activity; it will give you invaluable intelligence!
12. Celebrating success
Everyone loves a celebration! Track industry awards and make sure you know when a prospect receives recognition for their success.
Get in touch as soon as possible, not with a hard sell, but to build a relationship. Reaching out when your prospect is on a high could lead to more!
When prospecting, stay alert for any awards your prospect may have won, as well as any great press coverage or industry recognition.
When a company does well, they’ll be happier to listen to your pitch, especially if you can help them stay on top and far ahead of their competition.
To manually track this B2B sales trigger, use Google Alerts and follow industry news and company press releases.
How to detect sales triggers
Success depends on how well you track these triggers. This takes work. But luckily, there are several tools on hand:
- You can set up Google alerts to track news about your prospects and their industry sectors.
- LinkedIn is an excellent resource for both individual prospect and company news.
- Sign up for company newsletters for early insights into appointments, products, and other events.
- Regularly scan industry news to keep up to date with developments.
- Gather intelligence from sector analysts to track company performance. Look at company filings and annual reports.
- Monitor any new funding awards through Cognism’s sales intelligence software.
Founder and CEO @Project36
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