Business-to-Business (B2B) Marketing has seen a significant shift in recent years. The advent of technology and the digital transformation of industries has led to the emergence of a new form of data known as B2B Technographic Data. In this blog, we’ll uncover the depths of technographic data, explaining its importance, how it is gathered, and the advantages it offers in B2B Marketing.
Understanding B2B Technographic Data
Technographic data, in essence, pertains to the technological profiles of potential clients. It provides a comprehensive view of an organisation’s tech stack, including hardware, infrastructure, and software solutions such as Customer Relationship Management (CRM) systems and data platforms.
The insights gained from technographic data transcend beyond the basic knowledge of a company’s tech stack. It provides valuable indications about an organisation’s philosophy, scalability, budget, and flexibility, among others.
The Distinction Between Technographic Data and Other Data Types
Technographic data should not be confused with demographic or firmographic data. Demographic data caters to information about individuals, such as the number of employees in an organisation or the key points of contact. Meanwhile, firmographic data pertains to the company’s size, product offerings, target industries, revenues, and locations.
Technographic data, on the other hand, primarily focuses on the technology stack utilised by prospective clients. This includes information about infrastructure, network tools, preferred applications, and their adoption rate.
Ways to Accumulate Technographic Data
There are three primary methods of collecting technographic data:
Surveys: This involves directly contacting companies to inquire about the tech solutions they employ.
Web Scraping: Another approach is to “scrape” websites, which is to collect data on the online activities of potential customers in order to learn what kinds of programmes and services they make use of. Scraping websites takes a level of technical competence that the vast majority of businesses do not have on staff, despite the fact that it may yield more valuable findings than surveys. Additionally, contemporary websites are equipped with stringent security mechanisms, which limit the quantity of information that may be mined.
Purchasing Data from Third-Party Providers: This is the most common and hassle-free method of obtaining technographic data. Companies can buy technographic data from various data providers, allowing you to get up-to-date data that is compliant.
The Significance of B2B Technographic Data
Technographic data can prove to be extremely beneficial if used correctly. It can provide insights into a company’s level of technical expertise, budget allocation for new technology, and whether they need additional education.
For instance, if a company uses a competitor’s product, it indicates that they require the solution you provide. This knowledge equips the Sales team with the necessary information to present the prospects with compelling reasons as to why your solution is a better choice.
Benefits of B2B Technographic Data in Sales
Technographic data can provide several benefits to B2B Sales teams:
Segmentation: Technographic data enables you to form lists of prospects with similar needs, which can then be targeted with personalised messages and content.
Understanding: Knowing the specific tools a prospect uses gives you insights into the problems they face and the steps they take to solve them. This can serve as a great conversation starter.
Lead Scoring: Technographics help you prioritise the leads that are more likely to need what you sell, helping you focus your efforts accordingly.
Shortening the Sales Cycle: Technographic data can help you reach a prospect at a time when they’re more likely to be interested in what you have to say.
Competitive Analysis: Technographics can provide insights into how your competitors are finding success and whether they’re capitalising on opportunities you might have missed
B2B Technographic Data and Account-Based Marketing (ABM)
In the world of ABM, companies strive to build connections with multiple buyers across a prospect account. Technographic data can be a valuable asset in identifying accounts to target. It helps you understand their existing tech stack and the reasoning behind their purchasing decisions.
Enhancing Prospecting with B2B Technographic Data
Technographic data can significantly improve the ways your Sales team approaches prospects. For example, if you know that a prospect uses a tool that integrates with your product, you can emphasise how your product complements the solutions they already use in your pitch.
Superior Qualification Through Technographic Data
Technographics can be a valuable addition to your existing data operation. They can provide additional context and even serve as one of your qualification criteria. For example, if a company has just received a new round of funding but uses a competitor’s product that underperforms compared to yours, you have a viable reason to highlight the impact your product could make.
Technographic Data for Competitive Edge
Technographic data can provide a competitive edge in the market. It can provide advanced prospect and account intelligence that can facilitate faster deal closures and more efficient meeting scheduling.
B2B technographic data is a powerful tool that can augment your Marketing and Sales efforts. By leveraging this data, businesses can gain a competitive edge, improve lead generation, and ultimately drive revenue growth.