How to Improve Your Bottom Line Using Consumer Technographic Data

Digital transformation is present in every aspect of our life. Enterprises allocate more and more capital to digital adoption to improve their performance. In the technology industry, this is a unique opportunity to drive total sales through targeted marketing efforts. For both B2B and B2C businesses, technographics help gain practical insight into the industry. Let’s find out what technographics data is and how you can use it to improve your bottom line.

 

What is technographic data?

 

More than 70% of companies have already deployed resources to improve digital services. Technographics is a term that describes information related to the use of technology, adoption rate, and other tech-related information regarding companies. In simple terms, managing technographics data for business allows you to gain an insight into your competitors’ and clients’ technological stacks. For instance, you can find out what software and hardware they use or need and what developmental stage they are in.

 

As a consequence, technographics data help you understand both what your potential and current clients need, so you can target your marketing efforts, along with what technology is used by your competitors. When effectively used, technographic data can improve competitive advantage and capture more market share by providing the right products and services to the key audience.

 

There is also a slight difference between technographic data and social technographic data. Pure technographic data refers to how a business uses hardware and software, while social technographic data describes the use and consumption of social media within an enterprise

 

How can you use technographic data to improve total sales?

 

By itself, technographic data tell you how a business uses its technology stacks. There are several ways you can use consumer technographics data to boost your bottom line.

 

1. Market segmentation and sales productivity

 

Rather than spending your valuable time and resources researching and contacting potential clients, you can use consumer technographics data to identify your total addressable market and efficiently segment it. Accurate data will help you identify what enterprises may need your tech solutions so your business uses its sales resources more efficiently.

 

2. Personalized offerings

 

Your current and potential customers may face a broad array of technological challenges. By knowing their technological capabilities, you can address each challenge specifically, capturing their interest and becoming a trustworthy, knowledgeable vendor for them. In turn, this leads to higher customer retention.

 

3. Establishing lead priority

 

If your business is a player in the challenging technology industry, establishing lead priority can be key to securing a diversified, robust revenue stream in the future. Consumer technographic data help you understand which leads are more likely to be highly profitable for your business. Also, it may highlight which consumers may be reluctant to adopt new software or hardware so that you can prioritize leads with the highest potential.

 

4. Find opportunities

 

Technographics data help you find new opportunities and tailor your marketing efforts to capture clients’ interest. For instance, it was proven that personalized emails have a better response rate than the one-size-fits-all marketing campaign. This is because personalization helps you gain the trust of your customers, improving customer engagement as you can prove to them you took all the time needed to understand their struggles.

 

5. Run Account-Based Marketing Campaigns

 

Account-based marketing campaigns (ABM) refer to tailoring your marketing efforts to target specific companies while engaging both your sales and marketing teams. For instance, if your business uses LinkedIn to identify potential clients, combining these public profiles with technographic data will improve your campaigns. 

 

This is because you can find out what tech needs your prospective clients have, so you can tell them exactly what they need to hear by creating ads or messages based on their current tech struggles. This removes the guesswork, allowing your sales team to spend more time on customer conversion and retention rather than showing ads to unqualified prospects.

 

6. Improving business strategy

 

Technographics data make it possible for your business to create strategic marketing campaigns. You do not only find out about what your clients need right now, but consumer technographic data will help you spot emerging challenges and devise your efforts to respond to them timely and ahead of your competitors. In turn, this results in sustainable client conversion and improved profitability

 

Summary

 

Digital transformation is still in its infancy. If you have a tech business, consumer technographics data is a requirement for successful marketing campaigns. Also, any enterprise can use this type of information to conduct competitor analysis or find out more about their key customers. There is every reason to believe that technographics data will only gain more ground in the industry, disrupting every existing business and making the difference between surviving and perishing in an increasingly competitive market.