Digital transformation is more than just a buzzword, as he pointed out Forbes, 70% of companies have already implemented a strategy to improve digital service and the adoption of solutions or are actively working on one. And, in 2019 alone, companies spent more than $ 2 trillion worldwide to help drive digital adoption and improve overall organizational performance. For product and service providers in the tech industry, this presents an opportunity: If B2B sales teams can determine where companies are struggling with digital transformation initiatives, they can improve targeted marketing efforts and increase sales. totals. But how do you bridge the gap between potential conversions and practical information? Technographic data. In this article, we’ll take a look at what technology is (and isn’t), how companies can collect this data at scale, and why this data is important to help improve B2B sales efforts. Let us begin.
What is technographic data?
Technographics is an acronym for the words “technology” and “demographics,” and refers to information that describes the use of technology solutions, their adoption rates, and the potential challenges they present for organizations. The challenge? This technographic definition is not very useful without context. First, let’s talk about what technography isn’t: Demographics Demographics focuses on information about people – how many people are employed by a specific organization? What contact points are there? How have company sizes and staff configurations changed over time and what is on the horizon? This information is essential to help identify potential customers and develop initial marketing efforts, but does not provide information on the use of technology. Firmographic data Firmographic data refers to information such as company size, product offerings, industries served, total revenue, and even physical locations. This data is useful to help create targeted campaigns that drive B2B sales interest, but does not include metrics or technology measures. So what exactly is technographic data? Simply put, it is the practical application of information about the technology stack used by a potential customer – everything from the infrastructure and networking tools they are using to the applications they prefer and the rate of adoption of these applications at scale. Technographic data used effectively can help companies align their product offerings with digital transformation needs and capture customer interest. Is it worth mentioning? There is a distinction between pure technographic data and social technographic data. While technographic data talks about the use of software, hardware and networking technologies within an organization, social technographic data focuses on the consumption and use of social networking technologies within a company. While this is useful for social marketing efforts, it doesn’t serve the same purpose as technographic data for B2B marketing efforts.
How to collect technographic data
When it comes to collecting technographic data, there are three general methods:
The most direct method of collecting technographic data starts at the source – the staff of the target companies. Through phone or email surveys, companies attempt to gather information on how technology is adopted, implemented, and used to drive B2B efforts. The challenge? Most companies will not respond to cold call surveys, and many are unwilling to provide specific usage data even through email response templates. While this method can provide some widespread usage data, it is often more troublesome than it is worth.
2. Removal of websites
Website extraction tools extract specific information from corporate websites about the applications and services used by companies. Although this can produce more accurate results than survey data and without the need to call companies, technical expertise is required to ensure that the tools collect and report relevant data. Additionally, security controls on websites may limit the type and amount of data that can be collected, and the information available may be out of date.
3. Third party purchases
The easiest way to get technographic data is to buy it from a trusted data collection provider. Thanks to the rapid adoption of cloud-based SaaS, PaaS and IaaS solutions, both service providers and data analytics companies now have access to much more robust and reliable sets of technographic data than the parties can acquire. interested. While there are some limitations on this data collection, for example personal data must be kept anonymous to ensure compliance with local and global privacy legislation, companies can access massive amounts of usable technographic data with the third-party provider. suitable. However, it is worth bearing in mind that not all providers are created equal. Some promise massive data sets but cannot deliver, while others cannot deliver real-time information. Best bet? Do your research before hiring any technology data provider.
Why Technographic Data Matters
By itself, technographic data provides a window into the use of company technology. Meanwhile, combined with targeted sales and marketing efforts, this information provides a way to significantly improve conversion results. The four actionable benefits of technographic data include:
1. Improved segmentation
With accurate data on technology usage and implementation within lead organizations, companies can better define granular customer segments based on current needs and ongoing priorities to ensure sales resources are used effectively. .
2. Enhanced specificity
Sales leads are often inundated with proposals for new technologies and services. Technographic data enables sales teams to discuss specific issues potential customers are facing and quickly capture their interest.
3. Greater prioritization
Not all leads have the same potential value to businesses. But distinguishing the priority of potential customers is difficult, especially in an increasingly competitive technology market. Technographic data can help companies quickly assess which potential customers are most likely to invest in new solutions, and which ones need more time.
4. Short lead time
Speaking of time, news announcements about new technology solutions, mergers and acquisitions, or product launches offer starting points for successful sales discussions, but only if teams are equipped with relevant technographic data to help connect the dots between releases. press and customer needs.
Tactical technical guidance
Technographic data enables sales and marketing teams to create targeted and tactical campaigns that address real-life issues facing organizations undergoing digital transformation. By prioritizing on-site problems and providing comprehensive solutions to emerging challenges using technographic data, B2B efforts can stand out from the crowd and help drive sustainable customer conversion.