Buying Triggers: Pull data, analyze, repeat
A. Let’s assume that you have determined your top buying triggers, you’ve found a way to quantify why people need products, and you know why they are choosing your company. The next step is to set up a six-month analysis. You will be looking for a very specific set of numbers over the previous six months.
Look at how many referrals you are getting related to your “why they need a product” buying trigger. How many referrals have you received related to a specific diagnosis or a unique reason? Does this data expose a market need you may not have identified previously? Can you see a buyer trend related to a product or diagnosis?
By answering those questions, you gain a clear picture of the type of customers that receive products and services from you. If you notice an overwhelming market trend for a specific product, you may find that building a sales plan that focuses on specialty practitioners that refer for those products may help you capture additional referrals. If it is a low-margin product, perhaps you want to focus on promoting a different piece of equipment that provides better ROI.
By pulling the same six months of sales data and organizing it by “the reason they chose you,” you will be able to determine what has been making the phone ring. Ultimately, you will find out which referral acquisition strategies are working. Then you will want to examine which buying triggers may be weaker and evaluate why those specific triggers bring in less referrals. By maximizing the buying triggers that are working and minimizing efforts that aren’t working, you can drastically increase the efficiency and effectiveness of your sales and marketing efforts.
Jason Lewallen is national business development manager of PlayMaker CRM. Reach him at email@example.com.