5 powerful VBRs and how to leverage them | radioinfo

5 powerful VBRs and how to leverage them

Sunday 04 March, 2018
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Sponsored content from IRD Prospector
 

With media sales, timing and a valid business reason (or VBR) is everything.

Understanding your prospect and knowing when and how to approach them is key to effective closing. Yet many VBRs are overlooked by sales professionals. The information might seem irrelevant, not related to the package being sold or simply beyond the business acumen of your prospect.

If you can learn how to interpret a piece of intel about a business and build a compelling business case as to why a decision maker should meet with you, you’ll build trust, impress your prospect and be one step closer to that dotted line being signed. 

In today’s blog we discuss how to identify and interpret VBRs, or sales triggers. 

Spotting & acting on sales triggers

Sales triggers are simply indicators that a prospect is in a growth mindset. If spotted early enough, they provide an opening to contact your prospect or revive an old lead.

Keep in mind that your competitors are watching for sales triggers too. So to stand out from the crowd, you must find a way to identify embryonic sales triggers, personalise your approach and connect with your prospect in a meaningful way.

Here are five powerful types of sales triggers and advice on how to leverage them:

1. A change in management

If one of your prospects has a sudden change in management, this could provide an opening for you. New executives are often eager to distinguish themselves, inject a fresh perspective, review budgets and suppliers or recruit a new team. 

Plus, new hires always have a lot on their plate. So if your product or service could help them improve their positioning, they may be open to discussion. When you reach out, don’t just say congrats. Offer tangible value from the start. Determine how you can help them reach their goals without expecting anything in return. 

Look for vacancies and appointments in the C-suite, marketing, sales & senior management. 

2. Fluctuations in company performance

With market fluctuations, a company’s performance can be impacted. For instance, if they have a quarter where performance is down, your product or service could help them turn things around. Conversely, if they are performing better than usual, they will have more to invest. 

If your prospect has experienced recent growth offer suggestions for how you can help maintain this growth. If they underperformed, find out why and explain how your company is an asset to turn things around. 

Review full and half year profit reports, financial reports, business journals and business intelligence platforms (such as IRD Prospector)

3. New product or service 

If a company announces they are launching a new product, this could indicate they are venturing into a new area and would almost certainly suggest they will need to promote, upsell or cross-sell to current or new audiences. And they may require different types of support, new thinking or innovative solutions. While new product launches are exciting, they can be risky.

In this scenario, the best way to connect is by finding genuine business research or intelligence that can positively impact their launch. Can you uncover internal or external insights that would impact their launch? How about competitor intelligence or learnings, industry reports or statistics?

4. Company expansion or merger

If the ownership of a company or their operating units are transferred or combined, it’s a sign that significant change is on the horizon. Change that requires understanding, expertise and often, third party skills.

Do your research and create a compelling business case outlining how you can help the company navigate this possibly volatile time. 

5. New funding

New funding is an obvious sales trigger because it clearly signals that a company has more money to spend. However, timing is everything. 

If you wait, that company will be contacted by your competitors congratulating them on their recent funding. To do it right, reach out early but critically, demonstrate how you can help them reach their objectives. 

Conclusion

A sales trigger or VBR presents new opportunities to engage with your prospects. The trick is to turn this insight into an opportunity for a positive sales outcome. To do this you need to demonstrate an intimate understanding of their business and the market in which they operate, plus clearly demonstrate how you are going to deliver them an outstanding result.

If you need help identifying sales triggers, our suite of products may be right for you. Our Discovery Team stays on top of changes in the market so you don’t have to. Our team can do the groundwork for you so you are able to act quickly and strategically on new opportunities. Get in touch and we can you give you more information on ways we can help you.

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