Businesses of the day cannot move a step without technology. And, to top it off, data is the new oil to drive businesses faster. More so, technographics data attempts to segment technology for even easier to use.
What is Technographics data then? There is no better way to define it as the essential technologies and tools that every organization needs to keep its business up and running. Technographics aims to identify the technology used by the target audience and get a clear picture of their online activities. In short, it helps keep track of the number of products or services owned by a business. Such data also recognizes the technology a business is using or any recent activity around tech stack.
Even though your products or services are wide-reaching, it is not meant for all. Every business has its own set of audiences or consumers, commonly known as the ‘target audience.’ It is of utmost importance for businesses now to identify their target audience. Channelizing their plans toward target marketing is crucial. Rather than firing in the air, it is a better plan to identify your niche audience and narrow down to specifics.
Buyer persona—a familiar term for every business that aims to personalize the experience for consumers. For this, it is ideal for checking with the following pointers:
This information includes every little detail about consumers. Starting from age, gender, geography, marital status, and others.
Understanding the customer’s psychology, values, interests, attitude, and behavior streamline the business’ strategy in getting to know the customer better.
Leap the above and get to know about the software and technical preferences of your audience. This is what you call ‘technographics’.
Is it essential to gather Technographics data?
Yes, of course. We know that demographic and firmographic data stand as significant sources of information for businesses. They help in knowing their clients. To complete the puzzle of a business, it is equally important to gather insights from technographic data. B2B data providers know the right way to carry out the technographic segmentation.
If you are still in a fix to decide whether you need to get your hands-on technographic data, the answer would be a yes!
Every business has a different story to tell, a unique story that resonates through its tech stack. The more technologically equipped a company is, the chances are that its interest will be to spend time on future technological investments.
How can technographic data help your organization?
When you have technographic data in your hand, you have to make the best use. It is highly relevant for most departments of your organization. Let’s see how —
Sales and Marketing
Through such data, it is possible to know the users of products and services offered by your competitors. This means that your marketing team can easily use this information and target these users across various channels. Ultimately, to turn these users to your clients. The sales team can add alerts whenever a prospect uses or discards your competitor’s products.
You put your business intelligence team with technographic data and see them go crazy over it. These teams make the best use of such data in risk mitigation activities. It also optimizes their decision-making skills. Technographics data highlights the ebbs and flow of different clients, their profiles, and their purchasing patterns. BI team can utilize this information to identify new products and solutions that are expected to be high in demand.
To be ahead in understanding any risks relevant for the customer success team, technographics data can be of great help. While a client is trying out or testing a competitor’s technology, the BI team can monitor them. Keeping a close eye on such clients would give a bright picture of what purchasing signs. You can identify the triggers of their purchase decisions. Using technological data coupled with predictive analysis is the perfect match to locate your target audience. They can hold lifetime value.
Critical Advantages of Technographic Segmentation
In the age of personalization throughout the entire customer journey, finding the ideal customer profile can be a tiresome process. The definitive advantages of technographics data to help make your work easier are listed below:
Enhancing Sales Productivity
Some recent surveys reveal that 63% of the work done by a sales representative is often in vain and does not generate revenues for the business.
Here, technographics comes in with its capability of ensuring that the sales reps are fully productive in selling their product. Using technographic data into account profiling activities helps in achieving a more accurate representation of the Total Addressable Market or TAM.
Unveil Hidden Opportunities
With the help of technographic segmentation, opportunities can be discovered in market arenas. For the initial contacts, you can customize the marketing content as per your prospective clients’ technology stack. Tailor-made messages suited to the clients’ requirements can increase the chances of positive feedback from them. Clients will see the effort you have put in to understand their challenges and suggest a viable solution.
About 92% of companies have been able to witness higher conversion rates from personalized emails.
Account-Based Marketing Campaigns
Companies practicing Account-Based Marketing (ABM) clearly understand the benefits of technographics data. Technographics augment the firm’s firmographic knowledge It helps in improving the communication and coordination between the marketing and sales departments. Creating ads or emails would not be tough for you. Lead scoring would improve in no time. You can focus on specific leads that matter.
Better Customer Retention
Turning prospects into customers are your first step in the game. But to keep them with you for the entire journey is the ultimate purpose. Technographics data helps in giving you the knowledge of market forecasting and helping you to drive your product development accordingly. Moreover, when you know about your competitor’s opportunities you can capture their customer base.
How Should You Go About the Collection of Technographics Data?
This part is the easiest to understand. There is a simple three-step process that you can follow to get technographics data. These are battle-tested methods that you need not think over —
Using AI tool, tracking over 500 Job Sites where the search for companies posting job requirements for a specific “software” application. It’s quite easy that if a company has posted a job for a technical candidate to work in their software environment then they are using that specific software application at their premises.
With the help of LinkedIn to search particular profiles of candidates currently working on specific software platforms, it is possible to track companies where the end-user is working.
Looking for customer feedback, testimonials, and case studies to collect information about companies who are using a specific software application or platform.
Once the raw data is collected, it is passed through a validation process where calls are made and emails are sent to find out or verify whether a technology stack is used by a company or not.
In short, technographics is here to stay. With the advancements in machine learning and AI, markets and ecosystems are suspected to be disrupted. The evolved processes will provoke them to rely on data and information. To sum it up, technographics data is a vital component of customer and client engagement in the digital age. The better you use it, the more are your chances to grow.
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