Trigger-event marketing leverages events as a source of content for reaching prospects and clients.
Staying in front of new business prospects is a necessary part of building a clientele base. Yet, it can be difficult and time-consuming to curate and share fresh content on a consistent basis. An often-overlooked strategy in the quest to engage prospects and clients is the use of trigger-event marketing. This type of marketing strategy leverages events as a source of content for reaching prospects and clients.
Trigger events can be defined as anything that provide a reason for you to reach out. Typically, these events fall into three categories:
1) Personal. Personal trigger events, such as a prospect changing companies, winning an award or a significant work anniversary, provide an opening for a seller to send a personal congratulatory note.
2) Business. Examples of business trigger events can include a client's company being awarded a sizeable new project, breaking ground on a new building, being recognized as a corporate donor or an employer of choice and other significant corporate or business milestones.
Personal and business trigger events can often be identified by simply following your prospects, clients and their organizations on social media platforms like LinkedIn or Facebook. If you don't have time to peruse social media, setting up a Google Alert can notify you when your prospect, client or their business is in the news.
3) Industry. A broad category, industry events can refer to both the target's industry, as well as yours. These events can range from changes in the legal, legislative or regulatory environment to weather events, new case law, industry-specific trends or time-sensitive issues.
Triggers can also be categorized as predictable and unpredictable events:
Unpredictable events. There are various random events that occur without notice. Chipotle Mexican Grill, a popular restaurant chain, offers one such example. They were in the press in 2020 for issues related to foodborne illness outbreaks, for which they were fined $25 million. This event gave producers with prospects and clients in the food industry an opportunity to reach out and discuss compliance risks, employee training and whether or not their insurance program would adequately protect them in a similar situation.
In February of 2021, Houston was hit by a rare winter freeze that created significant hardship and damage for residents. Reports indicate losses were in the billions and many homeowners didn't have adequate coverage. A weather event is just one in a series of examples that could be used to engage prospects and clients in conversations about their insurance and how it would perform in similar situations. Because weather events are becoming increasingly larger and unpredictable, they present a timely opportunity to address coverages, limits and expectations of policy performance.
Predictable events. Common trigger events in the insurance industry include when a policy renews, when a workers compensation experience modification factor is promulgated, or when an audit will occur. When a producer knows their prospect's renewal date, time-sensitive messaging can be created to bring awareness about common errors and business challenges that could arise.
If you're looking for new strategy to stay in front of your prospects, consider trigger-event messaging. Adding this approach can help you facilitate important conversations, demonstrate genuine curiosity about their business, and show you have invested time in researching them and their business.
Susan Toussaint is vice president, Growth Solutions, U.S. with ReSource Pro. For over a decade, Susan has been training, coaching and developing programs to help insurance professionals overcome barriers to organic growth. In 2006, she started Injury Management Partners, and in 2009, she co-founded Oceanus Partners with her partner, Frank Pennachio. Today, she is a full-time trainer and consultant focused on developing products and training that help clients attract, acquire and retain profitable, right-fit business.