The best time to reach consumers is when they come to crucial decision-making times in their lives. An event is triggering a new stage in life. This gives marketers the ability to provide a solution at the right time.
We call this ‘trigger marketing’. Wikipedia also refers to it as event-driven marketing.
Some of the most responsive triggers include the purchase of a new home, birth of a baby, a home refinance, the purchase of a new car, getting married.
These events force consumers to make purchasing decisions because of need. And need is the best reason for buying something.
Trigger Marketing is an awesome strategy for small business owners who want to spread their marketing budget. Well timed, relevant offers can more than quadruple the likelihood of customer engagement.
Timing is everything
Studies have shown that marketing responsiveness declines each additional week after a trigger occurs. With all the resources that are available to consumers, they’ll find a solution to their needs quickly. That’s why speed is essential.
We know that using life-event triggers can double your targeted reach and almost double your marketing’s effectiveness. However, this responsiveness plummets 30%–40% each additional week after a trigger. This means you have to send the perfect message ASAP.
Identifying prospects and reaching them quickly is the key to maximizing ROI. And, securing these accounts over the competition.
You need to make sure you have your marketing material ready to execute. Above all, speed to market is key to driving higher response.
Business to Business
While much of trigger marketing seems to be consumer-focused, the same principles can apply when your marketing is focused on B2B customers. Trigger marketing practices can collect data pertinent to startups and small businesses. These include new-to-business filing information including new licenses and incorporation filings. There are also proprietary databases of business ownership and change of ownership.
In the business world, Trigger programs can signal when it’s the perfect time to make an opening move to spark a new relationship. Who looks for new business? Think accounting firms, credit card processors, printers, marketing companies.
B2B Trigger marketing can be through an email campaign, direct mail or personal outreach.
great blog