Market triggers

What are market triggers?
- Most products and services have some kind of event that triggers the customer need
- These triggers may be seasonal (school uniform, umbrellas), calendar-driven (payroll, VAT returns) or ad-hoc (marriage, moving house)
Why should you understand your market triggers?
- Understanding your market triggers will help you to position your product or service where it is most likely to catch the customer at the right time or place
o If you run a carpet cleaning company then demand for your services might be triggered by someone moving into a new home – so post leaflets through the doors of houses with “sold” signs
o If you print business cards and stationary then demand for your services might be triggered by someone setting up a new company – so subscribe to a company registration data service and send start-ups a brochure
- Understanding the customer motivation will help you best meet their needs and so improve sales conversion rate
o Make it part of scripts and qualification to ask why the prospect is looking for your product or service
- It will help you cross-sell or up-sell other services related to the trigger
o Someone who gets divorced may well need a new will
o Someone who hires a lot of new staff may well need employment policies
- It will suggest related complementary services and so which strategic alliances would be beneficial to you
o Solicitors will form alliances with estate agents to get access to conveyancing work

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