Technology is one of the key driving factors for increased profits in the modern age, and organizations use apps and tools to get valuable insights into different aspects of their work.
Businesses are adopting a data-driven approach, and there’s no room for making decisions based on intuition. Since data and technology are the key puzzle pieces in modern business, it only makes sense to adopt a new strategy that would reflect on both of these – technographics.
Technographics segment technology at a basic level and split it into multiple parameters. If you want to know the importance of technographic data and how to use it properly, here’s what you need to know.
Technographic data explained
Technographics is a market segmentation class containing statistical data bout how people use technology and what tech solutions they own. Think of it as demographics focused solely on the tech aspect. Now when you understand what technographic data is, let’s see how you can use it effectively for your business needs.
Recognize opportunities, challenges, and gaps
Whether you’re working in the B2C or B2B segment, it’s crucial to analyze the whole situation. You will have to understand the tech stack of potential client companies or work on surveying consumers to learn what technologies they’re using.
You have to find clients more likely to use your products. Look for connections within their tech stack to get valuable conclusions. On the other hand, you can see which customers are using the services or products of your competitors.
It can help you understand how to sell your products more effectively and prepare for the actual contact with potential clients.
Use technographic data to create personalized experiences
With tech insight about your clients, you can personalize their experience. First, you can easily determine what knowledge your leads are missing about products and provide them with the right content they need.
You can also create channels compatible with their solutions and use all the unique functionalities those platforms have. Personalization is all about adjusting your approach for each customer individually.
Knowing and understanding customers is the only way you can do this well. Technographics gives you a better overview of your customers and lets you make better customization decisions.
Improve marketing ROI with technographic data
Once you’ve researched your prospects’ tech stack, you can work on adjusting your messaging, marketing materials, and content to establish a successful first contact. You can also start targeting individuals and companies based on their tech while tailoring suitable materials to attract their attention.
On top of that, you can send them to the right channels that are most effective on specific tech devices. When you know more about your prospects, you can find the right leads and engage them correctly, resulting in sales.
It’s more likely to create effective marketing strategies when you try to know your customers and their tech habits.
Provide valuable information to your sales teams
Sales teams spend a lot of time on account and contact research instead of focusing on their core tasks of selling products. Technographic data allows them to sell to the right people instead of wasting time looking for them.
Combining account profiling with technographic data gives you a better representation of the qualified market. In other words, they can quickly narrow down the prospect base and provide valuable information enhancing the sales process.
A better understanding of the market
Finding new customers is great, but keeping those customers for a long time is the real value. Technographic data helps you predict market change and preemptively makes steps to deal with market issues and get at-risk accounts back into the fold.
These insights can help you develop new products that might do well in the market and stay competitive. Understanding who is using your competitors’ tools and services can help you expand your market share by targeting their customers.
All this information makes it easier to cross-sell and upsell with technographic segmentation many companies already rely on for customer analysis and marketing activities.
Conclusion
Technographic data is an undiscovered gem in the world of data analytics. However, many companies don’t have the knowledge or resources to gather this information. Luckily, there are many companies you can outsource your demographics process to and get new data that can help you boost revenue.
