Data is the contemporary business world’s driving force, helping companies gain a competitive edge and increase sales and revenue. Many B2B businesses need firmographics, but if you offer SaaS, PaaS, IaaS, or another on-demand service? Then technographic data is your go-to grouping.
Learn how to use technographic data to drive B2B growth before exploring the best methods to collect it.
What is technographic data?
Technographic data shows all the hardware, software, tools, and apps a particular company uses to run daily operations. It gives you insight into its entire tech stack, including when and where it acquired each solution and how and when it uses them.
It also uncovers the company’s challenges with existing solutions and plans to purchase specific tech products. That can give you the upper hand, helping you identify better targets and ideal prospects, tailor marketing messaging to their needs, and skyrocket sales.
How can you leverage technographic data?
Technographics uncover purchasing and usage habits regarding your competitors’ and target and existing customers’ tech stacks. Here’s how your teams can leverage that knowledge to drive long-term growth.
Gaining business intelligence
Technographics provide valuable business insights, helping you make data-driven decisions and position your company in the B2B market.
Your ideal customers’ tech purchasing habits can help you understand their needs and pain points. The demand for your current solutions or other products you could develop can point you in the right direction.
The same goes for researching the competition – your business intelligence team can uncover market gaps and seize opportunities to stand out.
Enhancing marketing campaigns
Technographic data can help you identify your total addressable market (TAM) and enhance your inbound marketing and ABM (Account-Based Marketing) efforts.
Companies’ current tech stacks, upcoming purchases, and expansion goals can help you identify those looking for your technologies. You can then develop solutions perfect for their needs.
You can improve lead generation, segmentation, scoring, and nurturing, having essential knowledge for tailoring marketing messaging. You can prioritize accounts, personalize communications, and identify opportunities to gain more market share.
Empowering sales teams
Technographics give your sales teams crucial information for informed sales conversations. They can upgrade their pitches to personalize communications and improve conversion rates.
They can upsell existing clients and identify companies using competitive or complementary products to improve targeting. Knowing when a target customer drops a competitor is another benefit, letting your sales reps contact them at the most convenient time.
Upgrading customer success strategies
Customer success teams can use technographics to optimize the entire customer journey. They can find upsell opportunities, develop strategies for educating customers at the top of the sales funnel, reduce churn, and improve retention.
They can track contract renewal, create a competitive customer journey to highlight your service’s benefits, and discover leads using technologies that integrate with your solutions.
Proactively addressing their needs by offering complementary products that could enhance their tech stack is excellent for personalization and nurturing.
How to collect high-quality technographics
You can use phone and email surveys to gather technographics, but you might get incorrect and incomplete data. The following methods of collecting technographic data will provide high-quality records to enrich your database and drive long-term growth.
Purchasing from a data provider
A data provider like Coresignal is your go-to source of accurate, correct, up-to-date technographic data. You can get relevant, complete records to gain invaluable business intelligence and improve your marketing, sales, and customer success efforts.
Data providers regularly update their databases, providing the latest information your business needs to generate leads, convert prospects, retain customers, and outperform competitors.
Scraping the web for relevant information
Web scraping means harvesting website data to uncover information like the tech stacks and purchasing behaviour of your target customers, existing clients, and competitors.
A web scraper can extract information from corporate websites, social media, forums, blogs, and other online sites. You can also use a programming language like Python to scrape the web with NLP (Natural Language Processing) technology and compile better results.
However, web scraping requires technical expertise and provides unstructured data, making it more time-consuming than purchasing from a third party.
Conclusion
Technographic data is the essential ingredient for sustainable B2B company growth. It’s the secret sauce of your marketing and sales strategies, helping create a fantastic customer journey and supercharge sales and revenue. Start collecting it today to sharpen your competitive edge and join the ranks of industry-leading companies consumers love.
