The term “trigger lead” has a broad meaning that can be applied across various industries.
The trigger refers to key moments when a prospect’s actions indicate they’re nearing a purchase decision.
Imagine someone actively researching insurance options after a major life event—this triggered action signals a heightened need and increased likelihood to buy.
In the mortgage industry, for example, when a credit report is pulled for a loan application, a trigger lead is generated because the action suggests a serious interest in a significant purchase.
Let’s walk through the broad concept of trigger leads. We’ll explore how trigger leads work, why they’re valuable, and how you can leverage them to strengthen your sales outreach strategy.
The broad definition of trigger lead
A trigger lead refers to customer actions and behaviors that indicate they’re ready to purchase. The action they complete is the trigger, commonly a credit inquiry.
When a consumer makes a credit inquiry such as applying for a mortgage or car loan, their credit report is pulled by a financial institution.
This action triggers a lead. Essentially, it’s an alert to other businesses in the same industry that a consumer is in the market for a specific product or service.
For example, if John applies for a home loan, other mortgage lenders are notified of this action and can approach John with their mortgage offers.
Beyond finance, a trigger lead takes on a broader meaning and can refer to any action taken by a consumer, such as downloading an eBook or filling out a form, that signals a specific need or intent.
In both examples of trigger leads, an action has been taken by the prospective buyer that signals an interest in buying and a certain level of sales readiness.
Why are trigger leads valuable in sales?
Trigger leads are valued like gold in the sales world. Why? Because they signal a high intent and buying mindset.
Higher conversion rates and shorter sales cycles
A trigger lead is already halfway through the sales funnel. They’ve shown interest, maybe even urgency.
For instance, a person who’s just had a credit check for a car loan is more likely to respond to auto insurance offers.
They’re not just thinking about buying—they’re actively pursuing it, and because they’re further along than general interest prospects, they’re more likely to close with fewer touch points.
Targeted sales efforts
With trigger leads, you’re casting a very narrow and specific net by targeting people who have shown a specific interest.
For a Medicare insurance provider, a trigger lead could be someone who just turned 65.
This specificity makes your initial cold call sales pitch more relevant and more likely to be successful.
What’s the controversy around trigger leads?
The debate around trigger leads centers on a key issue of balancing effective sales with consumer privacy.
Trigger leads, especially those generated from credit inquiries, are incredibly useful for salespeople.
However, they also raise questions about consumer privacy and the right to “opt-out.”
Most consumers are completely unaware that their financial activities, such as applying for a mortgage or loan, can trigger unsolicited marketing or sales offers.
This has led to more legislation and regulation and a greater push for transparency and control.
Knowing this ahead of time, you can prepare yourself with a script to handle these common questions or objections when reaching out to trigger leads.
Objection: “How did you get my number?”
“I understand your concern about privacy. We received your contact information through [source], where you expressed interest in [product/service.]
I hope to provide information that is valuable based on your interest. Please let me know if there’s anything specific you’d like to know, I’m here to help.”
Objection: “Why are you contacting me?”
“Hi [Prospect’s Name], I’m calling because we noticed you were looking into [specific product/service] recently.
We specialize in this area and thought we could offer some additional insights or answer any questions you might have. Is this a good time, or would you prefer to schedule a call for later?”
Objection: “I’m not interested anymore.”
“Thank you for letting me know. Can I ask if there was anything specific that changed your mind? Understanding your perspective is important to us, and it helps us improve our service.
Also, if there’s anything else you’re interested in or if your needs change in the future, we’re always here to assist.”
Objection: “I already took care of it with somebody else.”
“That’s great to hear you found a solution! Just out of curiosity, what was the key factor in your decision? We’re always looking to understand our customers’ needs better. And if there’s anything else we can assist you with in the future.”
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How can sales professionals best use trigger leads?
What if you could turn yesterday’s overlooked prospect into today’s sales win? This is the power of aged trigger leads.
While other salespeople are chasing new and expensive fresh-time leads, you’ll have a chance to tap into a goldmine sitting right under your nose.
These aged prospects, once eager for products like insurance, loans, or solar installations, may still be waiting for the right offer or the right moment.
It’s your job to reignite that spark by taking these actionable steps:
- Remind them of their initial interest: Say something like “I see you were interested in health insurance options last spring. I’m here to find out if this is still on your radar and how we can serve you better now.”
- Personalize your pitch to their contact form’s answers: If they requested a quote for auto insurance, mention how car insurance rates have changed since the last time they were looking.
- Acknowledge that some time has passed and that things have changed: Whether it’s their needs, pricing, or the market. It shows you’re considerate and current.
- Be prepared for pushbacks: Be honest and say “We realize we might have missed connecting with you earlier, but we believe it’s never too late to offer you the right solution.”
- Don’t stop after the first call. Send them emails with recent customer testimonials or new deals
- Track and refine your approach: Are customers opening up their cold emails or answering their phones? Do certain age groups respond better to texts? Use this insight to hone your approach.
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