We’ve all seen the headlines—people are changing jobs at an unprecedented rate as per CNBC.
Here’s what we know about the so-called Great Resignation (also referred to as the “Great Reshuffle”):
- 4.3 million Americans quit their jobs in August 2021 according to the U.S. Bureau of Statistics
- The highest resignation rates can be found among mid-career employees as reported by the Harvard Business Review
- Around 64% of workers in the US plan to switch jobs in 2021 as stated by PWC.
What does the Great Resignation mean for revenue teams?
It means they need to be more proactive than ever to prevent churn and keep a competitive edge in their markets. With workers resigning left and right, B2B companies need to stay hyper-aware of how resignations affect their accounts...and present new challenges or opportunities.
This is why teams need to prioritize tracking job changes for their account contacts.
Think about it this way: if 3-6% of your contacts change jobs every month, don’t you want to keep up with those changes? Job movements can translate to new leads for a sales team. Teams can get the most out of every contact by following up with contacts who have changed jobs.
In a nutshell, tracking contact job changes can result in:
- A bigger pipeline with warm leads
- Shorter sales cycles
- Cleaner CRM data
- Lower email bounce rates
- Reduced risk of customer churn
- Less manual tasks for busy sales teams
And that’s probably why you’re reading this guide right now. Or maybe you still need to be convinced 😉
Keep reading to learn how you can track contact job changes to drive timely, relevant engagement, grow your pipeline, and reopen missed opportunities.
An introduction to tracking job changes
If you’re new here, you might be wondering what it means to “track contact job changes.” Good question!
Tracking job changes means monitoring your key contacts -- whether customers or users or prospects -- for any job movements, and then enriching them with new contact information such as email address, phone, new title, new company, and so on. Keeping track of these job-change trigger events is a valuable tool for revenue teams when done right.
Job changes that can (and should) be tracked include:
- A contact leaves a job
- A contact is promoted to a new position
- A contact switches departments
- A contact joins a new company
A recent report from LinkedIn found that 62% of people are considering a job change in 2022 and 24% are actively looking. And with the Great Resignation, this number continues to increase which means a lot of your customers and prospects have already changed their roles, or they soon will. Every change is an opportunity for your revenue team… but only if you know how to operationalize it.
Track job-change trigger events to gather insight on companies
Revenue teams can leverage job-change trigger events to find new decision-makers and influencers in their target accounts, determine their new priorities, and get information about an organization’s tech stack. That’s a lot of valuable data from a seemingly small piece of information (and that’s just a sample of what savvy SDRs can gather).
Track contact job changes for warm leads
Plus if you ask anyone in sales, tracking job changes of your former customers and users is one of the easiest ways to fill your pipeline with warm leads. These contacts already know you, your company, and your product, and they won’t need to be sold on the value you provide. In essence, this is the most significant benefit when you track contact job changes—you already have some relationships with these leads.
If you already know why this strategy will help grow your pipeline, skip to the section "What contact types should you track for job changes?"
Why cold targeting struggles to deliver results
Companies are saying “goodbye” to cold targeting and using relationship-based targeting instead because:
- Consumer behavior has changed
- Companies are using a standardized playbook
- Automation enables targeting at scale but lacks personalization relevance
Customer acquisition cost stats you should know
- In 5 years customer acquisition costs have increased by 60%, according to ProfilWell
- Acquiring a new customer can be 7 times more expensive than selling to an existing customer, as reported by Neil Patel
- About 82% of companies believe that customer acquisition is more expensive than customer retention, as per MarkinBlog
Consumer behavior has changed
Raise your hand if you like receiving cold calls.
Raise your hand if you like making cold calls.
What used to be a well-accepted part of sales has changed drastically. That’s because consumer behavior has changed.
Today, less than one-fifth of the B2B buyers’ journey is spent interacting with sales as reported by Gartner. Prospects prefer to go through the majority of the buying journey alone until they’re ready to make a purchase.
Companies are using a standardized playbook
The more information you have about a prospect, the better you can tailor conversations to their needs. Unfortunately, every company now has access to the same data. As every B2B company employs the same contact database and email automation to reach the same buyers, cold targeting isn’t effective anymore. Sales and marketing teams need a better way to cut through the noise.
Automation enables targeting at scale but lacks personalization or relevance
Not only is data more accessible than ever, but it’s also easier to use data and automation to target prospects at scale. As much as we appreciate automation, too many companies rely on automation alone, producing generic emails and calls to the same generic list of target buyers. This results in lower response rates, more expensive customer acquisition costs, and lower win rates.
These factors have led to revenue teams missing out on their monthly quotas. To stand out in a sea of generic ads and emails, savvy SDRs, sales reps, and revenue teams have turned to relationship-based targeting — going after key contacts that changed their jobs (aka job-change trigger events), referrals, and more.
How does tracking job changes boost your pipeline?
It takes a lot of resources to win new customers and additional resources to keep them happy. So when a buyer leaves their role, they become your “pre-sold” prospects—warm leads that will likely convert and do so quicker than your average leads.
Let’s break down how to track job changes and how it can boost your company’s demand generation efforts.
Supply a steady flow of relevant, warm leads
Past purchasers and past users are more likely to buy again and buy faster because they have already established a relationship with your business. When your organization starts to track job changes, you will discover new opportunities with old leads...old leads who have become new again!
Why past customers are more likely to buy again
- They have a relationship with you
- They understand your product
- They have a budget to spend
Don’t forget that new hires and promotions are also a great trigger because these prospects will typically have a budget to spend, and they will spend it quickly. Use job change triggers to create timely communications so your company can stay top-of-mind during the critical window of their first 100 days.
Keep your database updated
With buyers switching jobs frequently, the information in your database becomes outdated faster, which results in email bounces and prospect ghosting. It’s impractical (and practically impossible) to manually keep up with key stakeholders’ job movements. Your sales and customer success teams will be alerted when critical information needs to be updated by setting up triggers around job changes.
An updated database can mean a healthier email list, more robust targeting data for ads, lower acquisition costs, more powerful account-based marketing tactics, and improved sales productivity.
Enable B2B influencer marketing
B2B influencers don’t have the same reach as a Kardashian-Jenner, but they’re still a huge asset for your business. Even better, they can be found anywhere—including within an organization.
What does this mean? Tracking job changes can help you get a pivotal stakeholder to do your bidding on the inside 😈
Internal influencers, such as coworkers and direct reports, are the most critical influencers in B2B. Even more so if they are already familiar with your product. Keep track of where your contacts are so that you can call on champions for new accounts when you need them.
Embrace the new normal of B2B purchasing
As much as we may like B2B buying to be as simple as convincing the right person to take the leap, realistically, a company will have to engage multiple decision-makers within a buying group. According to Gartner, the typical buying committee involves six to 10 decision-makers. That can mean a different set of pain points, expectations, and concerns...meaning that each member will need to be convinced with a different approach.
Tracking job changes arms revenue teams with incredibly valuable information—a way to keep up with the changing landscape of B2B purchasing. Businesses don’t just need to keep up with one contact, but multiple. When a key contact moves, job change triggers can help demand generation teams cover multiple touch-points for an account.
Allows for zero learning curve
Tracking job changes can bring in buyers who see the value of your solution in a shorter time frame. Previous users are knowledgeable users. Knowledgeable users are successful customers.
Think about it this way: a lot goes into winning and onboarding a new customer. Depending on the complexity of the solution, there is a huge learning curve. Even with less complex solutions, there will be friction for the customer. Data-driven customer success is an essential component of retention and reducing churn, and it’s a lot easier for a previous customer to achieve success faster.
Bringing in “new” customers who have experience with your solution can significantly reduce your average sales cycle, onboarding, training, and helping the user get the most out of the product.
What contact types should you track for job changes?
Tracking job changes sounds awesome! But who should I be tracking?
Since we've been doing this for ourselves and other companies for a while, here's how you can segment your contact types for job changes 👇
Tier 1: Contacts associated with Customer accounts
Your first thought is probably Key Contacts associated with Closed Won opportunities, and you're not wrong there:
- Primary contacts
- Champions and influencers
If your team hasn’t been as diligent at adding contacts to opportunities or assigning Contact Roles, then it would be good to track all contacts associated with the Customer accounts
But that's not all.
Tier 2: Product Users
At UserGems, we often say "optimize for love". Your users might not exist in your CRM, but they know your product -- sometimes more than the decision-maker does, and they can champion you at their next company.
So, don't forget to track your users' job movements:
- Admin users
- Power users
- Regular users with high NPS scores
Work with your product team to sync your user base and NPS scores to CRM. This will help you identify those who loved your product and likely champion for you again.
Tier 3: Contacts from Open Opportunities
Similar to Tier 1, you should also track Decision-makers and Influencers associated with Open Opportunities.
Even though they haven’t purchased, these contacts are already familiar with your product and have built relationships with your sales team—key foundations that can lead to quick sales. This also alerts Account Executives (AE) if their Opportunities are at risk when a primary contact leaves.
Tier 4: Contacts from Closed Lost Opportunities
On the flip side, if these key prospects were blockers on a previous deal, knowing they’ve left can open an opportunity (excuse the pun) for you to restart the conversation with the new decision-makers.
Tier 5: Contacts from churned accounts
You should handle this tier a bit more delicately. For one reason or another, they were unhappy with your product and ended the relationship. But that doesn't mean there's no hope (never say never, amiright?).
You must know the reasons they left before reaching out. Work with your CSM team to get all the details for a personal message. If they churned less than 6 months ago, you shouldn't expect a warm welcome but focus on re-building trust:
- Whether the churn reasons are still relevant at the NEW company
- If they are, what are your proposed solutions?
- Re-earn their trust that you understand what matters to them
Play the long game.
More ways to grow your pipeline with job-change triggers:
- Prospects that used to work at your customer accounts. They don't know you (yet), but referencing their past employers makes for a warmer intro and helps boost your credibility.
- Monitor your target accounts for new hires & recent promotions – even if they didn’t use your product before. New execs spend 70% of their budget in the first 100 days. Reaching out at the right time will increase your chances by 40%.
- Monitor your competitors’ customer's accounts. Once any key persona leaves those accounts, it could be a good time to reach out. How to find those accounts? Check your competitors' customer testimonials. 😈
Now that you're well-versed in tracking contacts and monitoring accounts for job-change triggers, let's look at ways to effectively engage with these hot leads.
5 tactics to re-engage customers who have changed jobs
We’ve covered why to track job changes and who to keep tabs on, but how can revenue teams engage contacts who have changed jobs? In some cases, re-engaging a previous customer can be as simple as sending an email.
However, sometimes your demand generation team might need to get a little more creative. Let’s check out some effective ways to keep in touch.
- User surveys - This is a great way to solicit honest feedback and show the contact they’re still on your radar. Bonus points: their answers can act as a quick temperature check on how likely they are to champion your product.
- Direct mail - Email inboxes are so crowded these days, but we’ve never heard of anyone complaining about a personalized note in the mail. Direct mail paired with timely outreach can produce high conversion rates, especially when sent to previous customers.
- Email outreach - You can easily sync your job change leads with email sequences to nurture your new (old) leads. Don’t get overly sales-y in these messages, but do provide value that keeps your business top-of-mind.
- Referrals - Leverage the connections you have to get referrals. Previous users are some of your best champions and referrals are a great way to utilize internal B2B influencers.
- Targeted ads - Level up your demand generation efforts with relevant ads on social media. Upload job change leads to create custom audiences on LinkedIn and retarget those prospects across Facebook, Instagram, Twitter, and YouTube.
What sales intelligence software can you use for tracking job changes?
There are multiple data enrichment tools that businesses can use to track job changes. The top three include LinkedIn Sales Navigator, ZoomInfo, and UserGems. Here’s a quick overview of each solution.
LinkedIn Sales Navigator
LinkedIn Sales Navigator is a sales management tool that helps sales reps discover leads and manage their pipeline using LinkedIn data. There are three plan levels for this solution.
- Real-time notifications
- Advanced search functions
- Limited integrations with B2B software - want users to stay on LinkedIn Sales Navigator
- Users receive a lot of notifications, but not all of them are useful
- Don’t provide email or phone numbers
For a more in-depth comparison check out UserGems vs. LinkedIn Sales Navigator for tracking job changes.
ZoomInfo is a sales intelligence solution that provides profiles for millions of business professionals and businesses.
- Largest B2B contact database, especially for the North American market
- Account enrichment and news related to the company
- A suite of products
- Update frequency is every 6-9 months
- Does not combine relationship data with contact data (i.e. track customers for job changes)
- Job change data is often outdated or missed
For additional information read Comparing UserGems vs. ZoomInfo for tracking job changes.
UserGems is a sales intelligence tool that helps sales reps get in front of opportunities by automatically surfacing customers who have changed jobs as new leads.
- Accurate data (less than 5% bounce rate) and monthly refresh
- Multiple integrations with CRM and various sales/marketing software
- Optimized and automated workflows to minimize manual steps for users and RevOps
- A newcomer compare to the LinkedIn Salesnav and Zoominfo
- Focused on the job-change trigger. Doesn't add account enrichment data such as number of employees
A sales intelligence tool that delivers only warm leads
Revenue teams are set to benefit from leveraging relationship data in their go-to-market approach.
Here’s how tracking customer/prospect/user job changes can help you win more:
- Generate more warm leads for your pipeline
- Cut through the noise by referencing and maintaining their relationships with your company
- Keep databases updated to get the most out of your marketing programs and improve your sales productivity. A database is only valuable if it's accurate and actionable
- Get more value out of your CRM and product user database
Don’t leave opportunities behind! If you’re seeking a smarter way to prospect and target, you should look into tracking job changes.
UserGems helps companies hit their aggressive revenue goals by offering new and untapped channels of buyers that are 3X more likely to buy. With UserGems, customers get a bigger pipeline and win more often.