Marketers use a wide range of tactics to grab the attention of their potential prospects. Technographic data is one such trend which recently emerged in the market that acts as a complementary to the other approaches. It isn’t any buzzword, but it is the real deal that helps the businesses to reach their target quickly.
If it’s something new to you, worry not. We have mentioned in detail everything you need to know about technographic data here. Take a look at it.
What is Technographic Data?
Let us start from the beginning. Technographic is nothing but all about understanding your customer better through an in-depth analysis of their technology stack. It includes-
- The location in which your customers have installed the technology.
- The core hardware and software stack of an organization.
- The time of their installation.
- And many more!
You might have heard about the terms “demographics” and “firmographics” used by businesses worldwide. If not, demographics are targeting people using their statistical characteristics such as age or income. B2C companies widely use it.
While, firmographics refer to targeting the prospects based on the company’s firmographic data such as target market, company size, location, and revenue. Firmographic data is used by B2B industries to target their clients residing in various regions across the globe.
Likewise, technographic is all about targeting the audience based on the technology they use. With this data, you will get to know the details of hardware or software a company uses; whether they have any marketing automation tools or not. Earlier, businesses used only demographics or firmographics data to target the audience. But, now they have realized the importance of segmenting the data based on technology their client uses and started embracing it.
We can say, “Technographic data complete the riddle.” Without it, you will have a very little insight about your customer.
Are You Looking for Technographic Data for your Marketing Campaigns?
How is Technographic Data Useful for B2B Industry?
Technographic data plays a vital role today in every B2B segment. It not only tells about the technological expertise about your customer, but it also gives you an idea about whether your customers are willing to spend more and other factors which are not related to technology. The more you spend on analyzing the data; you can get a clear picture of companies moving in their cloud journey.
You can use those data to build propensity scores which aid you in determining which companies are most likely to purchase a cloud in the next few months. Technographic data will also do a lot of favor in understanding the customer’s pain points, personalizing the B2B marketing strategies, creating firmographic profiles, and many more.
A Simple Example of Technographic Data
Example 1: If you are a web services account representative who wants to run a campaign, you can use technographic data to identify the duration of a customer’s license or the version of cloud software they use.
Example 2: If you are planning to target Microsoft but do not want to interact with all its employees, you can use technographic data to talk to the executives of that company who hold the budget for whatever you are trying to sell.
What is the Connection Between ABM and Technographic Data?
ABM or Account-Based Marketing has always played a critical role in B2B industries. ABM is about letting your clients know that you identify their interests and recognize their requirements. Technographic data will be valuable for effective ABM in today’s world.
By injecting technographic to ABM, you can efficiently manage your marketing budget. That is, technographic data tells more about your clients such as the current technology they use, and their future technological requirement. And, this helps you to focus on individual clients instead of mass marketing.
How Technographic Data Helps B2B Industries to Improve Sales?
Here are eight different ways that help your businesses to improve sales ratio tremendously with the help of technographic.
1. Sharper Targeting
Every company wishes to target only their potential clients instead of broadcasting the message to all the audience. There are a lot of strategies that help them to do so. But, technographic data lets them fine-tune their already segmented data in such a way that they do not have to waste their money on uninterested people. You can reach the right audience at the right audience and boost the revenue significantly in a short period.
2. Informed Conversation with Clients
As we have mentioned above, technographic data provides you the information related to technology stacks of your target audience. With these data, one can gain deeper insight about buyer’s persona and have a meaningful conversation with the customers. It not only helps in customer retention but also in building brand value.
3. Better Leads and Close Rates
With more informed conversation and sharp targeting of the clients, there is no doubt in performing better lead generation process and gaining a higher conversion rate. With detailed information of clients through technographic data, one can easily nurture their campaigns and improve sales ratio.
4. Helps in Customer Retention
The companies can quickly identify the customer’s interest or their future technological needs with the help of technographic. That is, it lets the sales team to know the pain points of customers and have a smooth conversation with them without disheartening them. They can come up with the personalized solution for the individuals, so customers feel valued than before. The more you make your prospects happy, their chances of continuing business with you increases.
5. Reach New Markets
The more you understand about the technological landscape, you can quickly expand your market to the new audience. Also, most of the technologies interact with other segments which pave the way for the demand of new products or services in their field. One has to explore the opportunities with the in-depth analysis of technographic data they own.
6. Know your Competitors Well
Like your customer’s persona, you can gain competitive insight easily with the help of technographic. With these data, you can understand the strategies which your competitor used, and you can quickly target your competitor’s customers based on that information.
7. Maximize Your Ad Spend
The sharp targeting of potential prospects lets the companies maximize their ad spend. It is because they can hyper-target their promotional messages directly to the set of audiences who use specific technology with the help of technographic data. By doing so, it eases your digital advertising campaign to a greater extent.
8. Discover Wider Market
One can quickly discover the opportunities lying around with the help of technographic data. Most of the companies who have already started using this data realized that their market is 3 to 5x times bigger than they had estimated. This information let them grab the attention of remaining prospects and improve the sales value easily.
To Sum it up
If you are one among the companies who do not use technographic data in their day-to-day business operations, you have no idea what you are missing out! Hence incorporate technographic data in your business transactions and see the difference in your sales ratio, lead generation, and conversion rates now.