As more and more businesses turn to data to help them fuel their decision-making process, the number of specific databases increases. Each one of the databases can help you improve particular processes. That’s knowing which data set to use regarding your unique goals is essential.
If you are looking for a specific data set to empower your business and take it to success, you’ve probably stumbled upon technographic data. Let’s see what it is and how it can help your business thrive in a competitive environment.
Table Of Contents
What is technographic data?
Technographic data is a data set that contains different data points regarding the use of technology stacks across companies. For instance, a technographic data point for a specific industry can include:
- Company name;
- Technology stack;
- Hardware;
- Software;
- Applications;
- Date when the company started using particular technologies.
We are talking about the practical application of technologies across companies. It enables you to examine business technographics data to learn the adoption rate of applications, which apps a company prefers, IT infrastructure, and network tools.
Given the rapid pace of digital transformation, technographic data can significantly help companies that offer products and services that facilitate this transformation. Let’s see why the increasing number of companies use technographic data daily.
Benefits of technographic data
Imagine being able to take a sneak peek behind the scenes and discover the technology stack a particular company uses.
Imagine doing it for an entire sector or filtering it by location, specific market, company name, or features. That’s what technographic data offers. Here is how you can benefit from these insights.
Streamlined market research
Before efficiently marketing your products and services, you need to discover which of the available markets is the most profitable. Not all companies that rely on technology stacks are your ideal customers.
Doing market research while focusing on a technology stack can help you quickly determine which companies can benefit directly from your products and services.
Once you can see how companies use and deploy technologies, you can choose the most profitable market for you and improve market segmentation. It will enable you to use your marketing and sales resources better.
Improved lead generation
You will rarely find two of your potential clients at the same stage of the new technology adoption phase. Companies also tend to use different features in the same software solution.
Segmenting them by the features, skill sets, and technologies they use can improve your marketing efforts.
You can custom-tailor your messaging to address the specific pain points and communicate the unique value your products and services bring. A personalized marketing message can generate more leads and keep them interested in your offer.
Increased sales
Technographic data doesn’t only help your marketing team generate more leads. Your sales team will also be able to operate more efficiently.
With this data, you will discover which of your leads are ready to adopt new solutions. Your sales teams can focus on these leads, which can help you optimize your resources and utilize them to generate more sales.
Furthermore, your sales reps can fine-tune the sales pitches for every lead you’ve generated. They can speak to specific company needs and problems, capture the lead’s interest, and successfully convert it into a sale.
Smarter investments
To make a data-driven investment, you need to be able to connect the dots between companies’ needs and emerging technological solutions. Many of the new technologies can change the paradigms across industries. Yet, only a few of them see high adoption rates.
With technographic data, you will be able to discover the needs of your customers and cross-reference them with emerging technologies. It can help you identify the technologies more likely to gain traction and make you ready to make informed investment decisions.
Competitive advantage
There are many ways B2B companies try to stand out from the crowd and gain a competitive advantage. You can unlock new possibilities with technographic data instead of solely relying on loyalty programs and reducing profit margins.
With the insights technographic data offers, you can create a better position for your brand in a target market. You will be able to discover real-life issues companies face and offer them your products and services to overcome those challenges and ultimately unlock the benefits of digital transformation.
How to obtain technographic data
There are only two ways to obtain technographic data directly. You can use phone and email surveys to try and collect technographic data. However, these cold-call surveys often fail to leave you with insufficient data to make informed decisions.
You can also collect technographic data via web scraping. Web scraping refers to collecting data from online resources such as websites. However, your company needs access to specific tools and skill sets to do it at scale and successfully. Plus, there are many challenges to overcome as websites deploy various anti-scraping measures.
Finally, you can obtain technographic data by purchasing it from a third-party company. The top data providers will help you access a comprehensive and ready-to-use technographic database. While these databases come with a price tag, it’s the easiest and most cost-efficient way to gain insights from technographic data.
Conclusion
Technographic data is the most powerful asset at your disposal, especially if you have access to accurate and regularly updated data points. It can help you excel at market research, improve lead generation, and make your business more profitable.
Additionally, you can make wiser investments and gain a competitive advantage with complete insights into how companies use technology stacks.
