Top 5 Reasons Why B2B Companies Must Leverage Technographic Data?

• admin
• Oct, 28 2021

What will happen if you and your competitor target the same audience and have access to the same firmographic and decision-maker data?

The company with technographic data will have the edge over the other. How? Read along to find out.

This blog talks about what technographic data actually is and why you must use it within your organization. And by the end, you’ll understand the true importance of technographic data and how it gives you an edge over your competitors. So, read in full.

What is Technographic Data?

Technographic data refers to everything from the infrastructure and software tools they’re using to the tools they are looking for, their technology adoption patterns, and the gaps within the technology stack.

Of what use is this information? Well, without context, technographic data might not sound that lucrative. However, with context, it’ll all start making sense. Read along to find out what makes technographic data useful and why you must use it.

5 Reasons Why You Must Leverage Technographic Data?

1. Improve Account-Based Marketing

B2B companies are aggressively practicing account-based marketing to target their prospects in a more personalized manner. However, how successful account-based marketing is, depends on how good your ICP or ideal customer profile is.

Most B2B companies rely on firmographic data to understand and develop their ICP. While this data does help with personalized targeting, technographic data takes the game one step further.

With technographic data, you can understand the technology stack of your prospects. And most importantly, you can understand the gaps and pain points your prospects are experiencing. Using this data, your sales and marketing teams can position your product better, giving you an edge over your competitors.

All in all, with technographic data at hand, you can develop a better ICP, launch hyper-personalized marketing campaigns, and achieve better results with account-based marketing.

2. Prioritize Leads Who Are More Likely to Buy

Most companies are capable of generating enough leads. What they struggle with is converting those leads into paying customers.

While there could be many reasons behind this, a common one is treating all the leads; equally, i.e., not prioritizing the leads based on their intent to buy. And because of this, leads that are actually high quality get lost among the others, and the conversion rate drops.

However, technographic data can solve this issue. With technographic data, you can understand your prospect’s existing technology stack, period of use, IT spend budget, etc. You can even determine if they’re contacting your competitors. With this information at hand, your sales team can prioritize the leads.

For instance, your sales team will approach the prospect who’s talking to your competitor earlier than the one who’s just searching for the right solution. And this way, the efforts will be specifically focused on the lead or prospect who’s showing the highest intent to buy, leading to a higher chance of a conversion.

3. Offer More Context to Sales Reps

When it comes to outbound campaigns, such as tele-calling, most prospects hang up without even completely listening to the sales rep. And it majorly happens because of:

– No knowledge about the prospect’s problems.

– No context about the situation.

– Lack of confidence in the sales rep.

And surprisingly enough, knowledge of the client’s technology stack can solve all these issues.

With technographic data at hand, your sales reps can understand the pain points the prospects are likely to have. This way, they will be better equipped to position (context) your product based on the technographic information.

And with the right context and understanding of the prospect’s problems, the sales reps can approach the prospects with better confidence, increasing the likelihood of conversion.

4. Determine the Right Time to Outreach and Upsell

While upselling helps improve customer lifetime value, it’s a complex process. Your sales reps need to approach the customers without sounding salesy and, most importantly, at the right time, i.e., when the customer is more likely to spend more.

However, failing to do the above might cost you the customer’s trust. You may even end up completely losing the customer.

Fortunately, technographic data saves the day. Technographic data tells you whether your existing customers are making a change in their technology stack. And if they are, let’s say, one of your customers is upgrading their technology stack, you can reach out and offer them a new add-on that’ll meet their needs.

Doing this will portray your company in a positive light as you offer assistance to the customer in their time of need. And eventually, you’ll be able to upsell to your customers at the right time.

5. Enhance Customer Retention

Technographic data not only helps you upsell to your customers but also reduces churn and improves customer retention.

Let’s suppose you come to know that a customer is upgrading their technology stack and talking to your competitors. Now, there’s a high probability of the customer switching to your competitor if you don’t approach them at the right time.

However, as you have technographic data at hand, your sales team can approach that high-risk customer and offer them the right solution. This way, you can retain your customers, improving customer retention and reducing churn.

Where Can You Get Technographic Data?

Now that you know why you need to use technographic data, it’s time to take action. But for that, you need high-quality and up-to-date technographic data. Where can you get that? Well, you can go for website scraping, surveys, or use mediums such as email or calls to get technographic data.

However, there’s a more reliable and perhaps the best way to get quality and up-to-date technographic data: 3rd party vendors. And that’s where DAT-A-CCURATE comes into the picture.

DAT-A-CCURATE is a lead generation and data enrichment company that can help you procure quality technographic data. In addition, we’ll help you prepare better ICP and find quality leads with high buyer intent based on firmographic, intent, and, of course, technographic datasets.

With all this information at hand, you can enhance your ABM, prioritize leads, hand more context to your sales reps, improve customer retention and upsell to your customers conveniently. Want to know more about how DAT-A-CCURATE can help? Reach out now!

Wrapping Up

Technographic data gives you a chance to understand your prospects or customers better. This enables you to position your product and services in a hyper-personalized manner and have the upper hand over your competitors.

However, make sure to reach out to reliable technographic data providers to access technographic data and experience its benefits to the fullest.