The Generator fact it is a tangible or intangible occurrence or barrier that, once it is met or broken, causes another event to occur. It is any activity that gives meaning to an economic activity. For example, the event that originates a tax liability, such as the event that generates the transaction tax, which is a transaction or a capital increase..
Leading events are common to many types of contracts. They help prevent that, in the event of a catastrophic change, the terms of an original contract may also change.
According to the Tax Code, the generating event is the postulate of an economic or legal nature, expressly established by law to conform each tax. Its occurrence raises the origin of the tax duty.
Many employers require employees to reach a period that qualifies them for employment as a generating event to be eligible for specific company benefits..
In the world of investments, stops are a generating event that the investor initiates to limit his risk to the downside..
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A generating event is something that signals a buying opportunity. A builder could be a prospect who changes their job title on LinkedIn or a company that receives a new round of funding. It can even be a news article highlighting a company that has been identified as an ideal prospect..
Instead of running through a list of names to make cold calls, generating facts can help qualify and improve your list of prospects..
Even if qualified potential customers are contacted with some clever content, some people may not be fully receptive to a cold call..
That's where lead facts can go a long way and greatly improve the quality of conversations you have with prospects..
Without a compelling fact, you can start a conversation with a prospect by saying, "Let me tell you a little about my company and my product." With a generating fact, you can call and say, “I saw on LinkedIn that you were promoted recently. Congratulations! How can I help you in your new role? ".
You can see how the first conversation ends quickly, while the second one feels more personal and useful to the prospect. Generators can help create a sense of personal connection, making a prospect more likely to continue the conversation..
You don't want to spend hours researching prospect news before every call. You can let technology do the work.
There are many different ways to set up tracking for specific triggers that signal a buying opportunity, such as:
Tools like Hootsuite, TweetDeck, and Social Mention can provide insight when prospects are discussing the company on various social media sites, such as LinkedIn or Twitter..
Google Alerts, Newsle and Gagein will send email notifications about recent news focused on a company or person to be watched.
For example, if you receive an alert from Google about a potential customer's company that is hiring a large number of new employees, you can call them and give them a specific harangue on how a product could help the company get more productivity from all those new hires.
This highly personalized, company-specific release is more likely to capture a prospect's attention than a general release..
Yesware, Hubspot Signals, and other tools can notify you when a prospect has opened your email.
It is not enough to track generative events, they must also be acted upon quickly. If a triggering event is reported through Hootsuite, the call should be made immediately.
The earlier you call, the more likely you are to have a productive conversation with that prospect..
To ensure that this happens, the triggering events must be integrated into the sales process and sales call flow. One way to do this is to create a standard sales script for some of the more common driving events..
Using Generative Facts Can Be an Incredibly Effective Sales Technique.
After starting to use the tools to track generative events, adapting a sales launch to a situation, you will begin to see more solid prospecting results..
Insurance companies include generators, called coverage triggers, in the policies they write.
In the case of property or casualty coverage, the type of event that must take place for liability protection to apply is specified. Insurers use generative facts to limit their exposure to risk. Some common generative facts include:
- Scope of retirement age, as defined in the plan.
- Termination of employment.
- A participant becomes disabled, as described in the plan.
- The participant's death.
Workers' compensation is insurance that requires a triggering event to occur before it becomes effective. As an example, if a person suffers an accident while at work, that event will "generate" disability insurance payments..
Life insurance policies may contain a generating event based on the age of the insured.
- A milestone that a person must reach to be eligible for a benefit or annuity. In general, the operative event is retirement, but it could be reaching a chronological age, such as 65 years.
- A movement in the price of some security that makes an investor interested in trading that security. For example. If a stock was trading at $ 70 and its price moves to $ 75, a shareholder may be interested in selling their shares.
- An event that changes the terms of an agreement or contract. For example, a student loan may include a clause that forgives the debt if the student to whom the loan was made dies. In this case, the generating event is the death of the student.
It is common for banks to issue debt at an interest rate determined in specific terms. For example, when writing a loan, one of the requirements of a bank could be that the borrowing party does not incur any additional debt for the life of the loan..
If the borrower incurs more debt, the event that generates a contract clause will be activated.
The bank can then take the necessary steps to protect itself, which could be foreclosure of the property secured through the loan, or an increase in the original interest rate charged..
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