A customer trigger event is a major (although it could be a minor) event that happens in a consumer’s life, such as buying a house, that triggers the need for additional decisions regarding products or services. For instance, prior to buying a house, a consumer might give thought to buying flood insurance, installing a home security system, or even something as seemingly straightforward as purchasing a lawn mower of their own. Now that they have a home (and a yard) to protect for years to come these other purchases suddenly become incredibly important—all because of that one trigger event. Brands that are able to anticipate and respond to these customer trigger events stand to improve both the customer experience and turn a profit. The solution lies in your marketing partnership network.
Marketing Partnerships Enhance the Customer Experience During a Trigger Event
Depending on the other companies you partner with, your partnership network can enhance the customer experience after a customer trigger event by evolving your brand into a concierge-type service, or trusted advisor. For instance, someone who has just purchased a home is probably swimming in the amount of things they need to do/are supposed to do/want to do after buying their dream home—your partnership network can make their next few steps that much easier by presenting them with relevant and timely offers directly related to their trigger event. Your partners could include a mortgage company, a locksmith (definitely need to get new locks!), or even an arborist (tree) inspection company—in theory the possibilities are practically endless. As long as your marketing partners exist in a relevant (but not directly competing) niche and can provide your customers with the right offer at the right time (i.e., the trigger event) your network could have no limits.
By presenting your customers with these relevant offers you are enhancing the customer experience by taking the legwork and some of the guess work out of their next important purchase brought on by the trigger event. Just keep in mind that it’s your recommendation that your customers are basing their decision on so it’s important to only work with partners that will take good care of your customers and strive to deliver excellent customer service every step of the way. Choosing the wrong partners can actually damage your brand’s own reputation.
Trigger Events Are an Opportunity for Your Brand to Engage the Consumer and Cross Sell Relevant Products
By cross pitching your customers after a trigger event your brand has the opportunity to upsell customers and monetize your organic phone traffic. Since your network isn’t limited to a one-to-one relationship with a solitary partner, your multiple partners are often competing to have their offer presented to your customers after a trigger event. Competition helps increase the value of each live lead you have to send to the winning partner, as each individual partner presents their own offer and bid for your phone leads. This gives your company the opportunity to choose the most relevant offer for your customers, as well as the more profitable offer for your company. For instance, you might be partnered with a credit card company but find that certain trigger events don’t produce the customer need for a new credit card. You can pass over that partner is favor of another. Once qualified customers are transferred to your approved partner your company gets paid for that live phone lead.
The key to taking advantage of a customer trigger event is timing! You partner offers have to ready to go when you have a customer on the phone and it needs to meet their particular needs right there and then. That’s why a partnership marketing network, as opposed to the traditional one-to-one relationships is so powerful—you have a much greater chance of being in the right place at the right time with the right offer.