Technology in B2B sales can no longer be avoided, whether it’s for marketing or keeping track of sales. Marketers use different ways to pique the interest of their potential customers. Technographic data is one such trend that has lately arisen in the market and is used in tandem with other ways. It isn’t just a buzzword; it is the actual deal, helping businesses in reaching their targets quickly.
So, what is Technographics?
Let’s start at the beginning. Technographic is all about better knowing your consumer through deeper insight into their technological stack. It comprises of the following:
- The location where your customers’ technology has been deployed.
- An organization’s main hardware and software stack.
- The date on which they were installed.
You may have heard of the phrases “demographics” and “firmographics,” used by firms all around the world. However, demographics target people based on statistical traits like age or salary. It is commonly used by B2C businesses.
On the other hand, Firmographics refers to prospecting based on firmographic data such as niche market, company size, geography, and revenue. Firmographic data is used by B2B enterprises to target clients from different locations throughout the world.
Likewise, technographic focus on identifying and targeting customers based on their technological preferences. With this data you can learn details about a company’s hardware and software, also marketing automation tools the company uses
Why is Technographics Important for the B2B segment?
In today’s B2B world, technographic data is critical. It not only helps you understand your customer’s technological expertise but also indicates if they’re willing to spend more and all other non-technical factors. The more time you spend studying data, the clearer picture you will receive of how businesses are progressing on their cloud journey.
You could use this data to make a probability approach that can help you figure out which organizations are most likely to buy a cloud in the coming months. Technographic data helps in identifying and addressing the customer’s pain areas, tailoring B2B marketing tactics, generating firmographic profiles, and many more.
How Can Technographic Data Help B2B Companies Increase Sales?
Here are eight different methods by which technographic can help your company drastically increase its sales ratio.
Instead of broadcasting the message to the whole public, every organization wants to target just their potential clients. There are several methods that can assist them in doing so. However, technographic data allows them to fine-tune their already segmented data to not waste money on those who aren’t interested. You can target the right audience at the right time and significantly increase revenue in a short period of time.
Personalized Sales Conversations
As previously said, technographic data gives you information on your target audience’s technological stacks. With this data, one can better understand the buyer’s persona and have a productive conversation with them. It aids not just in customer retention but also in the development of brand value.
Increases Lead generation and Closer rates
There is no question that a better lead generation process and a greater conversion rate can be accomplished with more informed conversations and precise client targeting. With deep knowledge of clients obtained from technographic data, it is easy to nurture campaigns and increase sales ratios.
Improves Customer Retention
With the use of technographic, businesses can quickly detect their customer’s interests or any future technical needs. After all, it enables the sales team to understand clients’ pain points and have an effective interaction with them without upsetting them. They can provide a unique solution for each consumer, making them feel more valued than ever. The more you make your prospects pleased, the more likely they are to do business with you again.
Expand Into New Markets
The more you know about the technology landscape, the faster you’ll be able to expand your business to a new audience. Furthermore, most technologies interact with other segments, paving the door for new product or service demand in their industry. With in-depth research of their own technographic data, one must investigate the possibilities.
Gain a Competitive Advantage
With the use of technographic, you can easily get competitive information, much like your customer persona. You can understand your competitor’s strategy using this data, and you can easily target your competitor’s customers with this information.
Maximize Your Marketing Budget
Companies can maximize their ad expenditure by specifically targeting potential customers. It’s because, with the aid of technographic data, businesses can hyper-target their promotional messaging to a specific group of people who use certain technologies. As a result, your digital advertising strategy will be simplified to a larger level.
Explore a Larger Market
With the use of technographic data, one can identify the increased opportunities that are available. Most organizations who have already begun to use this data have discovered that their market is 3 to 5 times larger than they had anticipated. With this knowledge, they were able to readily pique the interest of remaining prospects and increase the sales value.
You have no clue what you are losing out on if you’re one of the organizations that don’t employ technographic data in their day-to-day business activities! As a result, use technographic data in your business transactions to observe significant improvement in your sales ratio, lead generation, and conversion rates.