When businesses are in the initial stages of a brand-new move, they are unsure of the direction they should take. This is a perfect chance to create fresh ideas and explore opportunities. However, trigger events, which are troublesome but unavoidable occurrences, can greatly impact the success of a business.
According to the president of Idealab, timing is a crucial factor that can make or break any business. A perfect example is Z.com, a video streaming site that existed before YouTube but was unsuccessful because it was launched at an inopportune time. Similarly, the timing of YouTube’s launch was perfect since it coincided with when 50% of the US population had access to broadband, and codec issues had been resolved.
Identifying trigger events and understanding what triggers customers is important for success in e-commerce. Here is a three-step process to generate leads that can help businesses achieve better results:
- Evaluate previous sales to detect patterns and common events that lead to sales.
- Identify trigger events that have the potential to impact the business, such as mergers, new ventures, or a change in the company’s approach.
- Create a plan of action to take advantage of identified triggers.
It is crucial to understand the types of events that affect businesses in the e-commerce industry. For instance, rent expiration dates, company moves, and mergers can impact commercial real estate, space planners, architects, and real estate lawyers. On the other hand, salesforce incentives, new products, and changes in selling can impact sales. While increases/decreases in marketing budgets, changes in marketing channels, and new target segments can impact marketing.
Add-On helps identify and connect trigger events with customer personas to ensure that businesses focus on significant events that can affect their operations. Using accurate data in the sales process, businesses can develop workflow triggers to take action promptly, thus creating a real-time sales mindset that can improve conversion rates. By understanding trigger events, businesses can gain a competitive edge in the e-commerce industry.
Tags: Trigger Events, E-commerce, Sales, Marketing