The effect created is a water ripple that distorts the entire sphere and plane.
What I wanted to achieve was to create a material that spreads wave-like shapes throughout the surface coming from a single point, along with raindrops.
I went into substance painter where I made a quick base material. I was aiming for a top layer of water with concrete being at the bottom.
The first thing I tackeled was making the ripple effect which I started using a radial gradient. The expanding effect comes from the Time node which when plugged into a divide and then added into the add nodes, allows me to adjust the initial spead of the beginning expansion animation. The sine nodes create extra circles that expand farther out.
Preview of what this step achieved
To add the ripple wave effect, I then added a distortion effect that would use a series of panner nodes that would shift a custom noise texture in 4 directions. I would then connect the output of the add into the alpha of the lerp node which would add a subtle distortion effect underneath the rings.
Using multiple textures of scattered spheres of different sizes, using the time along with a more simplified version of the ripple code adds a subtle raindrop effect. that covers the surface. The ScalarParameters plugged into the Divide node change the speed of the animations and the Lerps are used for overlapping.
Show a video of the final product in action