Make a New Business When a Power User Changes Jobs
Leverage job change tracking for B2B success: uncover growth opportunities, reconnect with past customers & maximize warm lead response rates. Transform transitions into triumphs!
In the ever-evolving landscape of business, employees often find themselves shifting roles and transitioning between companies. As a B2B organization, seizing these moments of change can open doors to a plethora of new opportunities. In this article, we delve into the significance of monitoring job changes and how these transitions can lead to prosperous business ventures. Discover how tracking job changes can help you maintain an up-to-date database, reconnect with past customers, and target warmer leads with higher response rates. Unearth the secrets to transforming these transitions into triumphs and ride the wave of opportunity in the dynamic world of business. Embrace the power of job change tracking and unlock your full potential today!
Why Tracking Job Changes Matters
1. Database Degradation
It's essential to acknowledge that, on average, slightly more than 20% of your database naturally degrades in terms of accuracy and relevance each year. This degradation can lead to wasted time and resources as you attempt to connect with outdated or inaccurate contacts. By diligently tracking when your contacts make a move in their employment and updating your database accordingly, you can mitigate this degradation and maintain an up-to-date database that strengthens your connections with customers and improves your overall marketing and sales efforts.
2. Reselling to Past Customers
Past customers are a valuable resource when it comes to generating new business, as they are 4x more likely to respond to your outreach efforts. By monitoring job changes among your past customers, you can identify opportunities to reengage with them and potentially sell your services to their new companies. This approach not only allows you to capitalize on existing relationships but also helps you expand your reach and uncover new business opportunities.
3. Response Rate of Warm(er) Leads
When it comes to driving sales, the response rate of your leads is critical. Studies have shown that previous contacts are 3x more likely to buy than average leads, making them an incredibly valuable segment to target. By tracking career moves, you can identify when these warm(er) leads move into positions with decision-making power, allowing you to tailor your outreach and maximize your chances of closing a deal. In doing so, you can leverage your existing connections and increase your sales conversion rates, ultimately benefiting your business.
From Transitions to Triumphs: Leverage Job Change Tracking
Data about employment changes are a type of intent data that B2B businesses can use to identify whether a potential buyer has been promoted, moved to a new company, changed roles, and more. By tracking these updates, you can add more qualified users to your account lists, rekindle relationships with past contacts, and connect with new contacts as they settle into their roles. In short, tracking job change data can help you grow your business by capitalizing on the natural movement within the workforce.
5 Benefits of Tracking Job Change - Ride the Wave of Opportunity
1. Identification of Growth Opportunities
Job change tracking can highlight growth within a company, indicating factors such as increased hiring, more revenue, and a greater willingness to buy. As companies expand their teams, they may seek new tools or technologies to support their processes, uncovering new business opportunities for your company or upselling to an existing customer.
2. Reconnecting and Thriving with Former Connections
Notifications about employment change also can help you rekindle relationships with former connections, driving engagement at their new company. Utilizing your established connection, you can effectively communicate the advantages of your services while forging new bonds within the team.
3. Headcount Insights: Refining Your Target Accounts
Career-change updates can reveal changes in headcount, helping you determine which companies to focus on and which to deprioritize. Suppose that a company reduces the size of a specific department. Having this information can help you deduce that the organization may no longer be a suitable target account. This allows you to better allocate your resources and focus on the most promising opportunities.
4. Fresh Referral Opportunities
A change of employer or job title in your contact base can unveil fresh possibilities for referrals. When a former customer takes on a new title or moves to a different company, they're in a position to make decisions and potentially refer your services to a new set of people. Reaching out as soon as you know they're in their new role can substantially increase your chances of winning, according to Forrester.
5. Streamlined Marketing and Sales Processes
Finally, job change tracking can improve your marketing and sales campaigns by populating your CRM with up-to-date contact information each time a customer changes roles or companies. This allows you to spend less time researching contacts and more time selling. Moreover, as you connect with new individuals, you'll be well-equipped with essential updates, enabling you to personalize your approach.
Putting It All Together
Tracking career moves can provide a wealth of benefits for your B2B business, from streamlining marketing and sales efforts to uncovering new growth opportunities. By staying informed about the movements of power users and prospects within the workforce, you can capitalize on these changes to expand your business reach and drive sales.
To make the most of job change data, consider implementing a system that automatically updates your CRM with relevant information in real-time. This will ensure you always have the most accurate and up-to-date information at your fingertips, allowing you to act quickly and effectively when new opportunities arise.
Making the Most of Job Changes in Your Industry
As you begin to track job changes, keep the following tips in mind to maximize your success:
Stay proactive: Regularly monitor employment change data to identify potential opportunities as soon as they arise. This will give you a competitive edge and allow you to reach out to potential clients when they're most receptive.
Personalize your approach: When reaching out to a former connection who has changed jobs, be sure to tailor your message to their new role and company. Show that you've done your research and are genuinely interested in helping them succeed in their new position.
Maintain relationships: Even if a power user hasn't changed jobs recently, it's still important to maintain an ongoing relationship with them. Keep in touch through periodic check-ins, updates on your services, or by sharing valuable content. This will ensure you remain top-of-mind when they do eventually make the move in their career or have new opportunities within their current company.
Leverage your network: Use your existing connections to gain introductions to new contacts within target companies. A warm introduction from a trusted mutual connection can significantly increase your chances of success.
Embracing the Power of Job Change Updates for Your Business
By embracing the power of job change updates and incorporating them into your marketing and sales strategies, you can unlock new opportunities for growth and success. Stay informed about the movements of power users and warm leads within your industry, and be prepared to act quickly when new opportunities present themselves.
With the right approach, tracking employment changes can become a powerful tool that helps you build stronger relationships, expand your business reach, and ultimately drive sales. So, don't let these valuable updates go unnoticed – start leveraging job change data today to make a new business when a power user changes position or organization.
In conclusion, the dynamic nature of today's business world offers a unique opportunity for B2B companies to capitalize on job changes among power users and prospects. By embracing the power of job change tracking, you can strengthen your connections, streamline your marketing and sales efforts, and uncover new growth opportunities.
Staying proactive, personalizing your approach, maintaining relationships, and leveraging your network are key elements to maximizing the potential of these job change updates. Don't let these invaluable insights slip through the cracks—embrace the power of tracking employment changes and ride the wave of opportunity to make a new business when a power user changes positions or organizations. Start harnessing the power of job change data today with a free trial of Pipebooster, and propel your business to greater heights.
Vlastimil Vodicka is a startup founder with a Venture Capital background. In recent years, with his co-founder, he has built a technology startup that Deloitte has recognized as the 16th fastest-growing technology company in the Central European Deloitte Fast 50 2019 program. After having bootstrapped and earned the first million dollars themselves, Leadspicker landed $2 million in seed funding from Reflex Capital and J&T Ventures.
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