More than ever, companies are investing heavily in optimizing their digital footprints and service delivery. A part of this investment is the procurement of technographics. The reality of software in the world has made technographic data providers, amongst other concepts, more important than ever.
In every industry, the competition is fierce. Hence, companies are investing resources in defining a competitive edge. Data is vital to understand the market and the technologies therein to get the right competitive edge.
Everything to Know About Technographic Data and the Providers
Data for business exists in different forms and for various purposes. Just as we have demographic data and firmographic data, we also have technographic data. Technographic data relates to the software powering organizations, and in this article, we'll explore everything there is to know.
What Is Technographic Data?
Technographic, as a word, is culled from the combination of ‘technology’ and ‘demographics.’ Hence, technographic data informs about the reality of technology with a particular customer.
Technographic data explores the tech stack of a prospective customer, from the infrastructure, network tools to the various applications powering their process. Technographic data also focuses on concepts like the adoption rate of technology at scale.
To put this definition in perspective, technographic data help companies like yours understand the technical realities of a potential customer, allowing you to tailor your product offerings to meet the digital needs of such customers.
Technographic data primarily focuses on hardware, software, and network tech stacks in the B2B business ecosystem.
Importance Of Technographic Data
Technographic data gotten from whatever source provides insight into how a company uses technology. The unique insight is a core reason managing technographic data effectively is important. When leveraged properly, technographic data can improve your business’ revenue.
Below are specific details on how important technographic data is to your business.
When you can identify different customers based on their usage and deployment of technological infrastructure, it becomes easier to classify based on needs. Hence, you won'thave to deal with customers uniquely, making it possible to serve several companies at scale. In addition, technographic data makes it possible to classify companies based on defined needs and priorities. Hence, ensuring effectiveness in service provision.
Rather than spreading your solution out into the air and hoping that one stick, technographic data improves the specificity of the approach. Your sales team will be able to make pitches for new technologies and services, which meet the prospect's specific needs. Owing to this, you can quickly capture their interest.
Not all leads will offer the same value to your financial bottom line. Some leads will pay you more. The market is competitive, so you need to pick your battles wisely. Technographic data can help with that.
With technographic data, your business can quickly access which leads will find more value in what you’re offering.
Reduced Lead Time
You cut time spent on leads by half when you have adequate technographic data to make decisions with. You don't have to beat around the bush trying to understand their needs – which they might not be aware of. Announcing your technological solution and how it can benefit their business helps you close the deal faster.
How To Collect Technographic Data
Technographic data offers immense benefits. But, before you can leverage the data, effective collection should be your priority. Here are three ways to collect technographic data.
Surveys are direct methods of collecting data. For example, when you're targeting a prospective customer, one way to get data is to put the company's staff through a survey. You can pass the survey through emails. As a result, the staff will have better insider information about how technology is used in the company.
However, you should be ready for your survey to be ignored. Most companies don't appreciate cold-call surveys.
Website scraping is the process of extracting information from the website of the target customer. The information extracted provides insights about the app and services the prospect runs the business on.
You are more likely to get accurate information through website scraping than a survey. Through, expertise in using website scraping tools is vital. However, it may not be easy to get data from websites with highly optimized security software.
Technographic Data Providers
Technographic data may be hard to get on your own. Hence, it’s better to patronize technographic data providers. Moreover, the data you get from providers tends to be accurate, especially when the purchase is from a reputable data provider.
Technographic data from providers also ensure legal compliance with data collection, which may be a downside to you as the business owner. For instance, data you get from technographic data providers are largely anonymous.
But when you effectively leverage the technographic data you get, your business will access high-quality, real-time data.
How To Effectively Leverage Technographic Data
It’s not enough to have the right data you need; effectively leveraging it is vital.
Map out Your Ideal Customer Profile
The Ideal Customer Profile (ICP) refers to the detailed profile description of customers that perfectly fit your offering. The profile perfectly reflects the values, needs, and goals of the company.
The Ideal Customer Profile needs to, however, be updated per time. A company that fits your offering before may no longer be fit. Mapping out the ICP helps you better prioritize deals your company will work on closing.
Classification of Audience
Profiling customers effectively will help you classify better. In addition, with effective classification, it becomes easier to create and target marketing efforts. Owing to this, you’ll be able to reach companies requiring similar technological solutions at once.
Top Technographic Data Provider
There are numerous technographic data providers out there. However, Coresignal has invested so much in its service provision and has proven, over time, to be the definition of 'standard.' With real-time updates to its database, technographic data from Coresignal is bound to boost your lead generation and offer a more robust insight into your target market.
The data they provide explore the following insight categories; name, website address, stack list count, features promoted by the company, number of companies using the technology, tool's advantages, number of stacks the tool appears in, etc.
Coresignal has optimized its service to provide technographic data for businesses and investors. Therefore, leveraging Coresignal is a no-brainer.
Content Editor at Coresignal, where the team is responsible for portraying the company's digital personality.