Trigger Based Marketing, as defined by Wikipedia, is a marketing technique that is based on responses to measurable changes in customer behavior or a specific customer, action or event that can influence customer response. This saves a huge percentage of your direct mailing budget, the conversions and rate of responses will be manifolds higher than that of traditional mass-marketing campaigns.
Usually, trigger based marketing is done on identified set of target audience, so in a way it is an extension of Accounts Based Marketing. In order to run such focused campaigns, one needs to closely understand the industry/domain, track key happenings and trends, and identify probable triggers. Common triggers are – Mergers & Acquisitions, Joint-Ventures/ Partnerships, Product Launch, Market Exit, new market expansion, venture funding, IPOs, etc. Additionally, key industry trends and adoption, disruptive technology, key management changes, organizational restricting can also act as trigger in certain scenarios and for certain businesses. Triggers can also be for two different purposes – one you should pitch your business proposition , and second if it is not the appropriate time for pitching your proposition.
And for doing it the right way – you need to have the right information at the right time. Trigger campaign could be done on individual as well as a set of companies. One can target competitive scenario (e.g. exit of a key player in the market), customers-base , or any relevant audience segment. Then the vital part is creating that value proposition and communicating the same effectively.
In order to carry impactful trigger based campaigns, Sales & Marketing teams would require constant tracking of happenings within target accounts and industries. Information available in the web can provide that, but the trick is to get it ‘real-time actionable intelligence’. One can do it in-house, but collating, managing and then processing data may become tricky and eat up a lot of time and effort of teams. Other option is to get it done through specialized direct/ data marketing organizations. Again to reiterate, in either case, getting the right information at right time is the essence.
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