We have often pointed out how important it is to keep a close eye on your customers or the companies that you intend to be your customers – in order to identify valuable trigger events for your sales department. This time we want to address an additional opportunity. Because trigger events do not always have to take place directly at the companies of interest to you. Changes and events at their current suppliers can also play a role as trigger events for you. We explain how you can make the most of competitor monitoring for your sales force.

Trigger Event 1: Change of staff

competitor monitoring: product changes

We recently published a detailed article on the various opportunities that can arise for you from a change of staff of your contacts. But you should also take advantage of a job change at their current supplier. After all, it is often not necessarily the one with the best product that is awarded the contract, but the one with the best relationship with the customer. A change of responsibilities at your competitor represents a break in this relationship – the new salesperson or account manager must first establish a good personal relationship with his contact person on the customer side. Use this moment to bring yourself into the business.

This way you are prepared for it:

In your CRM system, always document who is responsible for your lead at his/her current supplier. If you learn about a job change of this person, a simple search will filter out all interested parties that you should address now.

Trigger Event 2: Product Changes

If one of your competitors announces that they will discontinue or significantly change a product, customer acquisition potential is released. Either because the respective service will soon no longer be available – or because of customer dissatisfaction with the forced changes. The ideal time to offer your alternative solution.

This way you are prepared for it:

Find out not only which competitors are currently supplying your potential customer, but also which specific products they are using. And document this in your CRM system! To know immediately which of your contacts are affected by any such changes.

Trigger Event 3: Change of Organization

When one company is bought up or merged with another, in many cases this results in a major customer exodus. Make sure that you benefit from such an event with one of your competitors. Take advantage of a decisive change in the organization to specifically entice away its customers.

This way you are prepared for it:

Keep the information about which competitors your leads are currently working with up to date. This way you can react quickly.

competitor monitoring change of organization

 

Monitoring of competitors is crucial

Conclusion: Monitor not only your leads but also your competitors to identify trigger events! For example, with the daily updated data and notifications from Implisense Pro. And then act quickly. Because a trigger event only changes the perception of your contact for a certain time window. Some of your competitors will also want to take advantage of this moment. However, if you are optimally prepared and act quickly, this offers you even more potent sales opportunities.