What is Technographic Data?
Technographics is a combination of the terms "technology" and "demographics," and it refers to data that depicts the usage of technological solutions, their adoption rates, and the solutions they may provide to businesses.
What is the challenge? Without context, this technographic term isn't very useful.
So, Let's first start by understanding what technographic data isn't:
Demographic data focuses on information about individuals, such as how many people work for a certain company. What are the points of contact? What has changed in terms of company size and staffing over time, and what is on the horizon? This data is essential for identifying new leads and developing initial marketing strategies, but it provides little insight into technology usage.
Information on a company's size, product offerings, industries covered, overall sales, and even physical locations is referred to as firmographic data. This information may be used to develop targeted campaigns that increase B2B sales interest, but it does not provide any technical metrics or measurements.
( Also Read: Top B2B Marketing Strategies )
So, now that we know all this What is technographic data, exactly? Simply said, it's the practical application of knowledge about a prospective customer's technological stack - everything from the infrastructure and network tools they employ to the apps they like and the rate at which these applications are adopted at scale.
Technographic data, when handled correctly, may assist organizations in aligning their product offerings with digital transformation demands and capturing client attention.
Pure technographic data and social technographic data are two different things. While technographic data refers to the usage of software, hardware, and networking technologies inside a company, social technographic data is concerned with the consumption and use of social media technologies within a company. While this is helpful for social marketing, it isn't as valuable for B2B marketing as technographic data.
Watch this video on: What is Technographic Data & How to Use it?
How Do You Gather Technographic Information?
When it comes to gathering technographic data, there are three main approaches:
1. Through Surveys
The most direct approach of gathering technographic data begins with the source: target company employees. Companies try to acquire information on how technology is accepted, deployed, and used to enhance B2B initiatives through phone or email surveys.
What is the challenge? Most businesses will not reply to surveys solicited over the phone, and many will not even disclose detailed use statistics via email response templates. While this approach may offer some broad usage statistics, it is frequently more of a hassle than it is worth.
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2. Website Scraping
Website Scraping solutions gather particular information about apps and services used by businesses from corporate websites.
Although this method may yield more accurate findings than survey data and eliminates the need to cold contact firms, it does need technical knowledge to verify that tools are gathering and reporting meaningful data.
Furthermore, website security restrictions may limit the type and amount of data that may be gathered, and the information that is provided may be outdated.
3. Third-party Purchasing
Purchasing technographic data from a trustworthy data collecting service is the easiest approach to get it. Service providers and data analytics businesses now have access to far more comprehensive and trustworthy technographic data sets than can be purchased because of the growing adoption of cloud-based SaaS, PaaS, and IaaS solutions.
While there are certain restrictions to this data gathering — for example, personal data must be anonymized to comply with both local and worldwide privacy regulations — with the proper third-party supplier, businesses may acquire vast volumes of valuable technographic data.
It's important to remember, though, that not all providers are made equal. Some claim to have large databases but can't deliver, while others claim to have real-time insight but can't deliver. What is your best bet? Before hiring a provider of technographic data, do your homework.
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Importance of Technographic Data
Technographic data provides an insight into how companies utilize technology on their own. In the meanwhile, when combined with targeted marketing and sales activities, this data offers a means to dramatically boost conversion rates.
Technographic Data Search Software ( source )
The following are four tangible advantages of technographic data:
1. More precise segmentation
Companies may better establish granular client groups based on current requirements and continuing goals with precise data about the use and deployment of technologies inside potential customer enterprises, ensuring sales resources are employed efficiently.
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2. Improvements in specificity
Sales prospects are frequently bombarded with offers for new products and services. Salespeople may use technographic data to speak to particular difficulties that potential clients are having and immediately pique their attention.
3. Increased Prioritization
Leads do not all have the same potential value for businesses. However, determining lead priority may be challenging, especially in today's highly competitive technological industry.
Businesses may use technographic data to rapidly determine which leads are more inclined to spend money on new solutions and which require more time.
4. Reveal New Possibilities
Technographic segmentation can also uncover possibilities in new markets that might otherwise go unnoticed if you didn't have access to technographic data.
You can better personalize your marketing material for your initial contact after you know a prospect's technological stack.
By customizing your messaging to the customer's unique needs, you increase the likelihood of a favorable reaction by demonstrating that you've taken the effort to learn about their present problems.
As a result, one component of increasing consumer engagement is to improve communications. It doesn't end there, though. After your message has elicited a response, technographic data may be used to inform your sales agent's discussion with the prospect.
Your sales agents' time will be more productive, and their sales interactions will result in greater conversion rates.
5. Reduced Lead Time
In terms of timing, news releases about new technology solutions, mergers, and acquisitions, or product launches can serve as springboards for productive sales conversations — but only if sales teams are armed with relevant technographic data to help connect the dots between news releases and customer needs.
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6. News-Driven Campaigns
There's a lot of value in striking while the iron is hot for sales teams. New announcements and newsworthy material focusing on your prospects should be utilized as soon as possible.
This is another area where technographic may assist. New announcements and press releases are all ways to reach out to your target accounts and prospects. Begin by keeping an eye on the following:
1. New acquisitions and mergers
2. New financing rounds
3. Online testimonials (both positive and negative)
4. Product releases and new features
5. Interviews with executives and thought leadership
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Then, utilize technographics to drive your perspective, tailor your outreach to these types of campaigns.
For example, if a target account has received additional financing but is still using a subpar rival product, you may inform them about the risks of utilizing such a solution during moments of growth, while also emphasizing how you do things better.
Here's a ZoomInfo video that explains how companies may use technographic data to boost sales:
The Future of Technographic Data
It's fair to assume that technographics won’t be phased out very soon.
Machine learning and AI advancements will continue to destabilize current economies and ecosystems in ways that render them vulnerable to, and reliant on, data and information manipulation.
Technographics provide you with a 360-degree picture of your prospects and contextualize their buying and selling behaviors. Use this information to ensure that your internal teams and plans are aligned for success.