What are Expansion Plans sales triggers?
Sales triggers are specific events or actions that signal a potential customer is ready to buy and are becoming increasingly popular in the sales industry. These triggers are used to target prospects at the right time, with the right message, increasing your chances of closing. Every trigger we track is valuable in its own right, but one of the most useful is a company announcing expansion plans.
What are expansion plans?
Expansion plans reflect a company's growth aspirations and objectives. They can provide valuable insights into a company's direction and its perception of market opportunities. Below are some of the key things that expansion plans can tell you about the growth of a company:
Market Opportunity: A company’s decision to expand into new markets or regions indicates that it sees potential for growth in those areas. This could be driven by a growing population or a gap in the market that the company believes it can fill.
Financial Health: Companies with strong financial positions are better able to fund expansion, as it typically requires significant investment in new facilities, equipment, and personnel. So, a company’s expansion plans can give an insight into its financial health and its ability to take on debt or raise capital.
Competitor Analysis: Companies that are expanding are likely to have a good understanding of the market landscape and their competitors. Expansion plans may indicate the company’s strategic goals and how it intends to compete in new markets.
Product/Service Development: Expanding into new markets often requires companies to develop new products or services to meet the needs of new customers. This can give an indication of the company’s ability to innovate and create new offerings to remain competitive.
Management Team: Companies with experienced and capable management teams are better equipped to execute expansion plans. The success of an expansion is often dependent on strong leadership and a clear strategy.
Expansion plan triggers are useful not just for identifying a company in buying-mode, but they can also offer a wealth of insight for the company’s competition. By analysing a company's expansion plans, competitors can get an understanding of the company's strengths, weaknesses, market strategies, and future goals, a useful source of information for competitors to stay ahead in their market.
Three planned expansions announced in February 2023:
1. Digital Uncut sets its sights state-side in rapid US expansion – Digital Uncut is a UK-based digital marketing agency that provides services such as search engine optimization (SEO), social media marketing, and website design to help businesses improve their online presence and reach their target audience. Having already achieved excellent growth in the US, comprising nearly 50% of their portfolio, the firm is looking to accelerate further as part of a wider strategy of international expansion. Get in touch with Digital Uncut now to show how you can support its ambitious expansion plans with new products or additions to its team.
2. Atlis Motor Vehicles on pace to achieve exponential growth – Atlis Motor Vehicles is an American electric vehicle (EV) startup based in Phoenix, Arizona. It is developing a new platform for heavy-duty pickup trucks that aims to deliver extended range, fast charging, and strong towing capabilities, with a target to launch its first product by 2024. Due to strong customer demand for its battery cell and battery pack technology, the company plans to expand its AMV battery cell and pack manufacturing capabilities to meet production targets. The Atlis team plans to sustain its growth trajectory and add headcount across the business while continuing to heavily invest in research and development for the Atlis EV technology ecosystem – perhaps you could help with their growing needs?
3. HDI Global targets international growth in cyber market – HDI Global, a German insurance company with a global presence and a focus on innovation and sustainability, provides a wide range of insurance products and services for both businesses and individuals. With cyber-attacks on the rise and almost every second company anticipating an increase in cyber-attacks for the future, the company wants to use its Value Added Services (VAS) to raise awareness of cyber threats and is aiming to use its expertise to help make companies and their cyber-risks insurable. Being the first to speak to a buyer increases your chances of closing a deal by 74%, so reach out today and offer your assistance in HDI’s quest to extend its reach in the expanding global cyber insurance market!
What to remember
News of expansion plans can provide a window into a company's growth aspirations, its financial health, its understanding of the market, its ability to innovate, and the strength of its management team. By analysing a company's expansion plans, you can gain a better understanding of the company's potential for growth, its focus areas, pain points, and its ability to execute on its strategy.
Selligence is the industry leader in providing trackable sales triggers. We currently track 45 unique event triggers and a further 71 sub-event types. That means we could deliver 116 sales trigger types to you on a daily basis. If you’re interested in learning how you can build sales triggers into your daily routine, reach out now for a demo.