Get to prospects before your competition by knowing what business triggers prompt a sales opportunity.
The age old saying of “timing is everything” typically proves true. In the world of business prospecting, this adage could be considered law. Having the appropriate messaging, targeting and outreach strategy are essential to any successful prospecting initiative, but what if all the right actions happen at the wrong time? Recognizing these key prospecting triggers will validate your outreach, and more than likely result in a sale:
Decision Maker Shifts
Keep your eyes open for announcements related to key executive shifts and the introduction of new roles. Roles closely associated with engagement opportunities include Chief Marketing Officer, Chief Digital Officer and Chief Growth Officer. When assessing opportunities, pay particular attention to the use of terms such as re-launch or redirection, Omni-channel focus and new demographic focus –these usually indicate the need for additional resources and services.
The technology space is primed with emerging companies and startups with dynamic and diverse products, services and applications. Keeping tabs on when these companies enter the market and their growth trajectory will provide the opportunity to effectively position your key offering as a resource in their introduction to the mass market.
An additional trigger for prospecting opportunities is the introduction of new product offerings in to the marketplace. Launching a new product typically not only requires the direction of a variety of advertising agencies, but it presents the prime opportunity to utilize new tools, applications and services to ensure, monitor and track the success of the new offering.
Pay close attention to dedication of advertising dollars. When companies and brands shift spending between channels (ex. Broadcast dollars shifting to Digital) or dedicate spending to a new vertical (ex. Mobile or Native Advertising), this is a good indication of opportunity for new alignments.
Effectively engaging a prospect at the appropriate time is just the tip of the new business iceberg. There are incredible resources in the marketplace that provide analysis around the multitude of triggers and circumstances that appropriately assess potential business opportunities. One such example is the sales enablement resource, DailyVista, and it’s predictive analysis feature that assesses the probability of a company/brand hiring new partners/agencies.
What new business triggers do you look for when approaching a prospect?