Take ‘Trigger Selling’ To The Next Level With Account Based Intelligence
June 13, 2017 6:06:59 AM | By Matt Benati
According to Craig Elias, founder of ShiftSelling.com, the first company in wins the sale 74% of the time. He frequently talks about this concept of “trigger selling,” and the advantages of identifying sales trigger events early. But today we’re going to take a look at Craig’s creative marketing hack for turning what most sales departments perceive as a ‘loss’ into 4 new prospects. And how LeadGnome’s reply email management solution takes that hack even further by uncovering Account Based Intelligence (ABI) that gives your sales team a huge time advantage.
Jon Miller, CEO of Engagio, says when working with target accounts, any one person can ignore you, be on vacation, or get a new job. And that’s true! Discovering these changes quickly within your accounts and being able to react strategically, can determine whether they become negatives or positives.
Hard Bounce Emails Are Not A Dead End
When a lead leaves their current company, most of the time you’ll find out by receiving a hard bounce (an undeliverable message) following an email marketing campaign. While your first instinct might be to delete their record and carry on, Craig says that would be a huge mistake.
According to Craig, a new employee will want to make an impression on their new company and as such, they are 10 times more likely to bring in new products or services (saving the company money, identifying a more efficient solution, etc). Additionally, new hires with buying power tend make large purchases ($1M or more) within their first year, and often start exploring new vendors within the first 90 days of employment.
Knowing the potential, how can you NOT follow up on a hard bounce? With just a little digging, it’s possible to acquire four new hot prospects from that single email that you were about to delete:
- Find out who replaced your original prospect (we’ll call her Jane) at your target account. This should be a main priority.
- Follow Jane to her new position. Remember, if she had buying power at her previous company (your target account), she likely has the same or more influence with her new position.
- Research who had the position before Jane took her new job. Did they move vertically within the organization or leave entirely? If they had buying influence before, they likely still have it in their new role.
- Finally, you find out that Bob is your new contact at your target account. Do some digging and find out where Bob came from. Did he make buying decisions in his previous role? If so, find out who took his position.
A quick glance at this chart shows how identifying and working these four new prospects every time a lead leaves one of your target accounts can grow your database exponentially:
Figure 1 Craig Elias for KiteDesk
Don’t Wait For The Hard Bounce
The key to taking advantage of trigger events (like someone leaving the company) is getting there first. According to LeadGnome data, an automatically generated Left The Company (LTC) email is typically in place for a minimumm of 6-9 months after an employee leaves a company. That means, by the time you receive a hard bounce, your potential hot prospects are already several weeks into their new roles.
The key is catching that LTC email as soon as it’s generated. If you miss it because you depend on marketing analysts to open and review every response to your email marketing campaigns, or because you ignore them altogether due to lack of resources, it’s highly unlikely you’re going to be the first one in and very possible you’ll lose this account altogether.
That Missed LTC AutoReply Was A Goldmine Of Information
Aside from the obvious “Jane left the company” message, LeadGnome data indicates that autoreply messages often contain additional nuggets of information that sales teams can leverage. For example, Jane’s LTC email may introduce Bob’s new role and contact information, as well as Jane’s personal information for those who wanted to keep in touch – a critical bit of information to help you with following Jane to her new position (#2 above).
The LTC email may have even contained a welcome message about Bob that gave a brief overview of his experience and where he came from another critical nugget for helping you figure out where Bob came from (#4 above).
Change Of Email Auto Replies Also Contain Hidden Intelligence
A change in a contact’s email address signifies a sales trigger event. This can be something personal (like a marriage or divorce) or something more significant to sales (like a rebranding initiative or merger/acquisition). According to ZoomInfo , every year 37% of email addresses change and 34% of companies change their name. And with change comes opportunity!
Identifying changes in email addresses as early as possible gives your sales team a timing advantage to reach out and get the scoop so they can assess how to best leverage the situation. Merger and acquisition (M&A) events in particular can be huge sales opportunities — especially if a smaller current customer is being acquired by a larger company!
Identify Sales Trigger Events Early With Reply Email Management
If these scenarios hadn’t already played out in your mind, you may be feeling anxious thinking of all the missed opportunities. STOP! You can be the first one in!
Depending on the size of your database and how many monthly email campaigns you send, analyzing the responses for valuable data can be downright overwhelming.
But it doesn’t have to be.
LeadGnome is a web-based reply email management service that automatically mines your email responses for valuable Account Based Intelligence. Armed with powerful lead-to-account matching, the software automatically applies the new or enhanced data to the correct target account and creates alerts for you within your CRM when action is needed — like when your prospect leaves the company!
Imagine receiving the original LTC autoreply as many as 6 – 9 months before your competitors notice the hard bounce, and being able to reach out to Jane and Bob and congratulate them on their new roles. With LeadGnome, you can be the first one in.
Instead of assuming a LTC or hard bounce is a negative, or simply updating your database with someone’s new email address, view these as sales trigger events and leverage them to your advantage!
Start your FREE Trial of LeadGnome now and get trigger event emails a month (or more) before your competitors.