Understanding the technologies that businesses employ provides you with a distinct competitive advantage in a world where data rules. With technographic data, sales can be increased as you better understand your clients, and improve your company’s account targeting and sales intelligence.
Find out more about what technographic data is, how most businesses use it, and how technographic will help you increase sales, improve marketing results and elevate company performance.
What is technographic data?
A company’s technological stack may be understood via technographic data. Technographic data refers to information on the hardware and software technological stack of a firm as well as insights into those technologies.
Some datasets fail to provide information on the software your prospects use, point out any gaps in their technological stack, etc. Technographic information completes the picture by providing an organizational perspective of the tech solutions that your prospects and customers have embraced.
You may receive a complete picture of your possibilities by combining technographic statistics with firmographic and demographic datasets, which will greatly enhance your go-to-market strategy. Technographic profiling, however, enables your teams to find acceptable, high-intent target accounts for your business.
Key benefits of using technographic data
The main advantages of collecting and analyzing technographic data include the following:
Improved sales productivity
Many sales professionals spend an average of 6 hours on new prospect research weekly. Analyzing technographic data may improve the quality of research and help make generating sales the main focus rather than finding new consumers.
You may get a more accurate picture of your total addressable market by considering technographic data while doing profiling operations.
More sales opportunities
Without access to technographic information, you might not have known about prospects in new markets that can be revealed by technological segmentation. Knowing a prospect’s technological stack will help you better tailor your marketing materials for your first interaction. As it shows you have taken the effort to comprehend their present issues, personalizing your messaging to the customer’s individual needs increases the likelihood of a favorable reaction.
Simply, personalizing email subject lines already results in a 22% increase in open rate, not to mention personalized messaging in the emails. When you better understand your leads and clients, and what technology they’re using, you’ll be able to provide them with the needed solutions at the right time. You’ll also be able to develop effective outreach campaigns.
Better account-based marketing campaigns
Anyone that uses account-based marketing should be aware of these advantages. Improved messaging and departmental coordination between your marketing and sales teams will result from the addition of technographic data to a company’s current firmographic information.
You’ll be able to develop advertising or emails that correspond to what your prospects want to hear by targeting businesses based on their tech stack. As you get more insight about prospects, your lead score will advance, allowing you to devote more time to pursuing leads that are a great fit for your solution.
Improved customer retention
82% of companies believe that retention is much cheaper than acquisition. The ultimate objective is to keep your customers engaged and develop enduring, mutually beneficial connections. You’ll be able to foresee market-driven problems affecting at-risk accounts thanks to enhanced market forecasting.
You might even utilize your understanding to direct the creation of new products. Knowing who is utilizing rival tools or services may help with consumer targeting, which can lead to possibilities to grow market share.
The correct use of technographic segmentation can achieve all of these advantages as well as other customer success goals (upselling, cross-selling, renewal, and expansion opportunities), which is why so many businesses already integrate technographic analytics into their marketing initiatives and customer analysis.
With technographic data, you’ll be able to get accurate segmentation, as it allows you to understand which technologies are your target accounts. You can segment them into different buckets based on their needs, gaps, and priorities. By segmenting them, you can allocate
resources more effectively and personalize their outreach. You can also use this type of data to improve targeting efforts.
How businesses use technographic data?
Nearly everyone who offers IT-related services or solutions currently uses technographic data to some extent. The majority of business providers currently base their marketing strategy on technographics. SMEs and startups are now experiencing a significant upward curve in adoption. When firms integrate technographic with purpose data, some of the finest results occur.
You may learn what your customers or prospects are studying and if they are in the purchase cycle with the use of intent data, which is derived through behavioral analysis of a company’s research activity.
You’ll be able to learn a lot that you may use to improve your sales and marketing strategies. Using a mix of technographic and intent data to guide their marketing, businesses may achieve astonishing outcomes.
Technographic data has an obvious surface worth, but its full potential value cannot be calculated. One thing is certain, though: businesses who ignore the requirement and benefit of these kinds of improved business intelligence skills will continue to lag behind those who do.
Technographic data gives you insight into a company’s technological capabilities, but when used in conjunction with effective sales and marketing strategies, it gives you the competitive advantage you need to close more lucrative business agreements.
Your targeting efforts will be much enhanced once you have access to technographic data. This information will allow you to effectively modify messaging to increase sales and improve marketing campaigns.