As we know, events that might lead to a sales opportunity are known as compelling event signals. New funding rounds, acquisitions and mergers, newly hired C-level executives, corporate layoffs, and staff restructuring are just a few examples. Gains and losses in the financing, as well as new employment or a corporate office, are other examples of these trigger signals.
Though you can conduct transactions without monitoring these compelling events, there is a strong probability that your deals will be pushed aside. Devoting time to uncovering compelling events enhances the likelihood of sales closing successfully and quickly.
Of course, there is no one-size-fits-all approach to pipeline creation and expansion. Understanding how to spot and pursue opportunities by monitoring these event signals can help you dramatically increase your sales.
What Compelling Events Should You Monitor?
Changes in a company provide a window of opportunity for a sale, which you should seize before it closes.
If a company’s leadership is replaced, for example, the new executives may be looking for a change and may request proposals while they re-evaluate expenditure on outsourced products and services. As a result, the business is more likely to collaborate with new enterprises, consumers, and investors.
Furthermore, gains in investments, sales, employees, and office locations show that a firm is expanding, implying that it has more resources to spend on products and services.
When a company gets awards or starts organizing unique industry events, it is either gaining or attempting to gain more recognition. This is an ideal time for you to pitch a product or service that would help the company maintain its momentum.
If a potential lead has been upstaged by competition, they may look for options to assist them to outshine that opponent. That’s where you step in, with a product or service that can help that potential lead move forward.
In order to achieve this goal, we believe there are two compelling occurrences in client success that you should be tracking right away.
Signal #1: Human Capital Migration
Human capital migration is number one. If a company you are prospecting hires a new executive in decision-making or a strategic capacity, it might be a hint that you should go forward. You need to identify who comes in and out of your clients’ company who fit your ideal client profile and have the potential to influence the purchasing committee.
Every key stakeholder who is influential, a decision-maker, or a prospective power user falls under this category. Aside from figuring out who they are, you also need to assess them using sales intelligence.
Did they previously work for one of the competition? Do they have any skills, qualifications, or projects on their LinkedIn profile that support and demonstrate that they’ve worked with a competitor? You can’t afford to start a business selling poison pills. So, if individuals are departing, keep in mind that people are the ones who determine company priorities. So, did a high-priority person just walk out the door?
New CEOs likely want to make an impact as soon as possible and will not be stifled by company baggage. If your product or service may assist them in establishing a strong position, they may be willing to talk. It’s worthwhile to devote some time to research.
Learn more about the new appointee’s history. Consider whether the appointment might herald larger organizational changes. The more you know about the new C-Suite’s circumstances and strategic orientation, the better.
Signal #2: Advocate vs Detractors
Second, will the individuals who go through the door be advocates or detractors? Both are necessary for you to know. Detractors are dissatisfied consumers who are unlikely to take interest in your products or services and may even dissuade others from doing so.
Meanwhile, a client who actively distributes information about your company, brand, products, and services on a regular basis, engages with your company on social media, grooms additional leads, and keeps a close eye on big updates in your company, is known as an advocate.
Given that the majority of clients indicate they would offer recommendations but only a small percentage of sellers actively seek them out, it’s more probable than you believe that some of your clients are ready to become advocates for your company.
Unfortunately, detractors are usually more vocal than advocates, and negative evaluations and feedback are more common than favorable ones. Every company has detractors, but the most successful companies understand how to convert them into advocates.
Not only is it critical to understand your consumer for a successful campaign, but it also sets the scene for converting your B2B prospects into advocates. Consider how customization has become increasingly popular, and for good reason when establishing a B2B sales strategy for reaching your target audience.
According to Epsilon, 80% of clients are more inclined to buy and become advocates after having a tailored marketing experience. Even well-established brands must persuade new clients of their worth. To satisfy shifting client needs, 89% of well-known businesses, like Coca-Cola and Netflix, are investing in digital and personalized B2B sales strategies.
The days of the conventional one-way dialogue and hard-sell are nearly over, thanks to more focused consumer mapping, client inventiveness, and the use of the internet and social media. Instead of depending on information from a seller, B2B clients may use the internet to research products and price their needs. Marketing customization has become the industry standard as clients become more savvy and prepared.
When you correctly identify your client, their pain points, and how you can address their specific problems with the use of these compelling events, you’ll be in a great position to start B2B sales lead generation which you can convert into clients.
The Road to Customer Success
To better track these signals, sellers will need access to a client intelligence platform that can determine a client’s likelihood to purchase based on management trigger signals from key decision-makers. With this information, you can quickly customize your pitch in order to prepare for executive meetings. This provides you a significant edge, as verbal and anecdotal talks, while effective in developing connections, nevertheless need more effort later on.
How thoroughly you track these triggers will determine your success. This is a labor of love. Thankfully, there are a number of tools readily available. You may use Google Alerts to keep track of news regarding your prospects and their respective industries.
LinkedIn is a great place to look for individual possibilities as well as corporate news. Subscribe to corporate emails to get advance notice about upcoming appointments, products, and other events. Keep up with industry advancements by scanning industry news on a regular basis. To track corporate performance, gather information from sector analysts. Examine the company’s yearly reports and filings.
If your sellers are hesitant to engage at the C-suite level because it’s intimidating, they will need to overcome that fear if they want to be successful. The heart of modern selling best practices is uncomfortable discussions. If you’re in B2B sales, be ready to feel uncomfortable—and then get ready to win big. This is a tried-and-true method for reliably earning revenue in modern B2B selling.
While most revenue teams like developing connections with their clients since people buy from people they like, relationships account for just a tiny portion of the purchasing decision. When it comes to unstructured assessments by potential clients, the choice is mostly based on industry expertise. That’s why, with corporate accounts, the aim of B2B selling is to become a trusted advisor. Executive involvement in this stage is so critical, which is why you must monitor this signal.
By tracking the two aforementioned trigger signals, B2B companies can generate leads, maintain tabs on their competition, obtain product feedback, better connect with advocates and convert detractors, and ensure customer success.