A business trigger is an event or circumstance that creates an opportunity for a business to take action, engage with customers or clients, and potentially drive revenue. In the context of sales and marketing, business triggers are specific indicators or situations that prompt a company or sales professional to reach out to prospects or existing clients. These triggers help businesses tailor their outreach to be timely and relevant, increasing the likelihood of successful engagement.
For mortgage loan officers, business triggers might be events that signal a potential borrower’s readiness to buy or refinance a home, or opportunities to reconnect with referral partners. By identifying and acting on these triggers, loan officers can provide proactive support, build trust, and stay ahead of competitors.
Examples of business triggers include:
Industry events: Market rate changes, new home listings, or economic shifts.
Client-specific triggers: Credit score improvements, anniversaries of past closings, or life events like marriage or a new baby.
Seasonal or timely events: End-of-year tax planning or peak home-buying seasons.
Professional updates: Job changes or relocations that might affect a client's financial status.
Business triggers help ensure outreach is personalized, relevant, and well-timed, ultimately contributing to stronger client relationships and business growth.
B2C (Business to Consumer) Trigger Examples:
Rate Drops:
Significant decrease in mortgage interest rates.
Announcement of special loan programs with lower rates.
Market Trends:
Rising property values or shifts in the housing market.
Client Milestones:
Anniversaries of past closings.
Homeownership milestones such as 5 or 10 years in their current home.
Mortgage Reviews:
Time since the last mortgage review (e.g., over 2 years).
Changes in the client’s financial status that could lead to a beneficial refinance.
Credit Score Improvements:
Client’s credit score increases to a level that could qualify them for better loan terms.
Home Equity Changes:
Significant increase in home equity, enabling cash-out refinance opportunities.
Notices that a client has paid off a significant portion of their mortgage.
Life Events:
Marriage, new baby, or family growth leading to the need for a larger home.
Retirement, divorce, or death of a spouse, potentially resulting in housing changes.
End of an Adjustable-Rate Mortgage (ARM):
Approaching the end of an ARM period, presenting the need for refinancing to a fixed-rate mortgage.
Local Development:
New construction or significant developments in the client’s neighborhood.
New school openings or community infrastructure updates that may drive housing interest.
Professional Changes:
Recent job promotions, relocations, or changes in employment status that may affect income and loan eligibility.
Property Tax Changes:
New property tax assessments or legislative changes that may impact homeowners.
End-of-Year Financial Planning:
Encouragement for clients to review financial goals and consider how mortgage refinancing or home equity loans can support their plans for the next year.
Community Events and Engagements:
Invitations to participate in workshops, webinars, or seminars on home buying or refinancing.
Local events sponsored by the loan officer’s company to build connections.
Special Promotions:
New loan programs, discounts on closing costs, or promotional offers that clients may find attractive.
Seasonal Campaigns:
Reminders tied to peak home-buying seasons such as spring or summer.
End-of-year campaigns focused on tax benefits related to home purchases.
Holiday-themed messages encouraging clients to take advantage of specific opportunities before the end of the year.
Promotions tied to home improvement loans during fall and winter as homeowners prepare for the colder months.