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Sales triggers are events that indicate propensity in a buying cycle.
Trigger events are tied to a company, individual prospect or market and indicate growth, significant corporate initiative, competition advantage & market opportunity.
Sales triggers may be derived from a broad set of events associated with companies and executives.
Triggers represent new opportunities, changes in the likelihood of a deal closing.
Triggers drive sales activities such as new prospect research, opportunity status updates, or renewed relationship development.
New decision makers are 10x more likely
to purchase new products
Funded Companies are 8x more likely
to respond to your emails and phone calls
Be notified when a “window of dissatisfaction” has opened that could lead to new opportunities or grow existing ones. Know when your competitor’s price has gone up, when they’ve discontinued service or experienced degradation of service.
Be the first to know, when your decision maker has a changed jobs or been promoted, or when a new decision maker has taken their place. Learn about funding or new corporate initiatives that drive sales.
When regulation or compliance drive your close rates, be aware of the complex landscape and movements that free up your customers’ budgets & time-frames or drive the need for your product or service.
Alerts tied to both companies and specific topics. Whereas news alerts are simply associated with a company, sales triggers provide high precision targeting of both companies and business topics. As talking points, triggers can be invaluable in reaching out to customers and prospects before competitors. While sales triggers are most commonly semantically mined news stories, they can also be gathered from social media, editorial research, filings, and changes in financial data.
Several vendors include SWOT reports and brokerage house reports. A SWOT report is a competitive analysis tools that highlights Strengths, Weaknesses, Opportunities, and Threats. Analyst reports are unstructured reports from brokerage houses. These content sets are generally sub-licensed from MarketLine (SWOT and company profiles), Guideline (SWOT and company profiles), Investext (analyst reports), and S&P Capital IQ.
US public companies hold investor calls with the release of their quarterly earnings. The calls contain two parts: a prepared speech by C- level management followed by a Q&A session. Transcripts are also available for corporate presentations made at investor conferences hosted by the brokerage houses. Earnings Transcripts are an excellent source of company performance and guidance. They also discuss corporate issues, plans, recent events (M&A, Litigation, Product Launches, etc.), and corporate strategy. Finally, the transcripts provide insights into C-level personalities.
The most commonly used filings are the major EDGAR (SEC) filings such as the 10-K (annual report), 10-Q (quarterly report), and 8-K (material change report). Foreign companies listed on US Exchanges also file 20-F (earnings) and 6-K reports (material change). Like Earnings Transcripts, they provide an overview of the financial status of the company along with discussions of key issues; products and services; partnerships; M&A; and performance across various business segments and geographies. Other filing sources include international annual reports, European private company registered filings, patents, trademarks, copyrights, liens, bankruptcies, and judgments.
Industry Overviews are plain English industry primers designed for sales reps and relationship managers that sell across a broad set of industries. The reports include current trends, concerns of C-level execs, Q&A topics for breaking the ice, terminology, etc. Dun & Bradstreet’s First Research service is probably the best set of industry overviews spanning nearly one thousand US industries and segments.4 They have also begun to add international content and a limited set of thirty-five Canadian profiles. Shorter industry overviews are available in Avention (sourced from ORC) and InsideView (sourced from Vertical IQ).
Market Research reports are more technical than industry overviews and include market sizing, growth rate, and top companies. Vendors have tended towards licensing shorter, standardized reports (i.e. they use a common definition of industries and methodologies across countries allowing for comparisons across industry and geography) that cover a broad set of companies and geographies:
Industry Norms provide NAICS based private company financial ratios spanning multiple years and company sizes. This content is mostly useful for conversations with the CFO or COO for companies that can impact specific ratios (e.g. Inventory Management software or credit services).
Strategic Sales reps should be comfortable reviewing financial reports, particularly if they have named accounts. While financial analysis is not required outside of financial services, strategic reps should be aware of the financial position of public companies. Bureau van Dijk, Factiva, LexisNexis, and Avention provide both public 4 First Research reports are available as a standalone offering and integrated into Hoover’s, D&B360, D&B Direct, and Data.com. The reports are also marketed to public and academic libraries under the First Research and Mergent Intellect brands.
Segment data is derived from public company filings and provides financial performance across geographic regions and divisions. The data helps identify underperforming markets and provides a quick geographic overview of a company’s operations.
While most sales reps will only use a basic credit score for filtering out higher risk prospects, credit information can be quite useful for relationship managers at financial services companies or business development managers.
Current and prior employment, education, interests, affiliations, and social media links. Some vendors now include executive news alongside bios. Bureau van Dijk and Avention provide UK Director and Shareholders (DASH) profiles which list current and former directorships and shareholdings. RainKing and DiscoverOrg provide tech bios which include responsibilities and org structure.
Merger & Acquisition information is useful for systems integrators, relationship managers, investment bankers, etc.
Private Equity and Venture Capital profiles are useful for business and marketing services companies, business development managers, tech companies, investment bankers, PE/VC firms, etc.
The “Window of Dissatisfaction” opens after the buyer experiences a Trigger Event that causes them to leave the status quo but before that buyer has found an alternative option. Opportunities increase – the more you know.