Technographics Data: An Overview
Just like demographics and psychographics, technographic data is used by many B2B sales-led organizations. It is the data about tech tools, software, and applications that a company operates. In this digital world, every organization is growing fast, benefitting both the users and service providers.
Around 65% of the companies with their digital presence have already deployed a strategy to provide an excellent opportunity for the product and service providers by digitizing their industry processes.
See what Sam Johnson, VP of Customer Service says,
“In high tech, great customer success is all about going through the technology and humanizing it so that you can connect with people on a more enriched level……and to enable that we look for people that can make their passion for something contagious.”
Opting for digital transformation can help buyers boost their sales by figuring out the other buyers’ demands and challenges.
However, it’s necessary to have sound knowledge about the technographic data to boost the sales effort. This article will guide you through the basics of technographic data and how it can be an effective tool for B2B businesses and their growth.
What is Technographic Data?
As previously stated, technographic data is the next level tool that helps develop market research after Demographics, Firmographics, and Psychographics. Just like demographic data is used to study people’s behavior, technographic data determine the technologies and software used by companies.
Technographic data help gain an in-depth understanding of the technology stack used by businesses and can help plan technological solutions in the future. It is a completely new approach that companies adopt to learn the behavior of their competitors.
With the help of the technographic data, a company can obtain
- The hardware, software, and technologies used by your prospects
- Marketing and remarketing stack
- What are the technologies used and how are they incorporated in their organization
- With technographic data, you can target your customers with accuracy and develop sales models
- You can also get detailed information on required conversations and outgrow your market competition.
According to a survey conducted by Forbes, 70% of companies have at least one digital transformation in place or working on one.
How do technographic data scale-up B2B business growth?
Technographic data help B2B businesses plan potentially and improve their outreach, campaigns, targeting practices. It also boosts lead generation, marketing messages, and business prospects. With technographic data, one can
- Act as per the requirement and target with accuracy
- Determine the amount of money invested by an organization for their technology needs
- When an organization need a new tech solution
- Helps optimize the marketing behaviors of an organization especially technology-buying
- Prioritize the efforts made by the sales team, help increase cold-calling, and uncover new opportunities
- Technographic data intelligence can also help maintain an updated perspective on your target.
Are there any sources for collecting technographic data?
Collecting technographic data is not so easy and can be obtained by the company itself. Technographic data can be collected through social media posts, company website’s source code, and information provided through surveys or reports or discovered via phone calls. These insights received from these sources are then compiled in a B2B database.
Different collection methods are used depending upon the source and its quality. Companies and B2B database providers imply a range of sources and collection methods. Some of which are listed below:
What are the methods to collect Technographics Data?
Choosing a method for technographic data collection can be quite tricky and one should choose the right way with extreme caution as it can impact the quality of data collected.
Each collection method has its pros and cons. Below mentioned are a few such techniques:
1. Through Surveys
Surveys can be conducted in person through phone or online email surveys like at trade or networking events. It is the best way to obtain insights and provide clear and current data. The drawback of this method is that it has a low response rate and manual labor required.
2. Manual verification through phone calls
Cold call surveying is one of the oldest and most common strategies of technographic data collection used for a long time. Data providers can call up companies to verify and gather more information collected from other sources.
This method gives the most recent and accurate data. The drawbacks of this method include the effort of calling a company, time-consuming, and is also not predicting whether the company is willing to provide data or not.
3. Data Scraping tools
Web Scraping tools help determine a website’s source code through which the type of technology used by the organization can be known.
It is the process of extracting information about a company’s technology stack by going through its online platforms and presence. The most common techniques used to scrape technographic data include:
- Quarterly company reports
Company reports published every quarterly, give a fair idea about the partners they are working for and various tech solutions and time frame this occurs in.
The reports also reveal about the recently dropped partners and the areas where the company is underperforming. But the data obtained through company reports are not recent and may not reflect the company’s current technology stack.
- Website source code of a company
The source code obtained from the company’s website is a goldmine for technographic information. It can provide information on the scripts and collected cookies and on the requests needed to load the page.
The data which can be collected through the company’s website source code are their email collector, web hosting software, and digital marketing tools.
This method is found to have many advantages and the fewest drawbacks. It requires little manual labor and so is very scalable.
- Job and Social Media Posts
Information gathered from a company’s job listings and social media posts allows you to add context to your technographic dataset.
For instance, a source code may give you an idea about the email generator being used, while a social media post may help you gather information about the software which was acquired.
Similarly, job postings may help you understand the area in which your company is expanding and technologies used by future employees.
4. Data Marketplace
Even though the primary methods of data collection are through surveys and website data scraping tools, they are not always scalable and require significant computing resources.
In such cases buying B2B data from the data, the marketplace can be quite a lot easier for the B2B Businesses to get external data and improve their business outcomes. It has many benefits, where the business can get optimized data ready for use and meta-data that enables easy data processing.
Also read, how direct mail marketing help B2B marketers for effective marketing b2b strategy.
What are the benefits of Technographic Data?
After knowing the basics of technographic data, let us now discuss how the technographic data collected can be helpful for the growth of B2B businesses.
a. Helps segment the customers
The technographic data collected helps profile the existing customers, thus providing a bigger picture of the organization’s technology stack, tools, and spending capacity.
By understanding the different types of automation processes the company uses, one can understand their affinity towards their investments, brand, spending, and company size.
b. Account-based selling & marketing
Establishing deeper relationships with the target contacts can be done through Account-based selling & marketing strategies, which are driven by technographic data.
It also helps the B2B businesses better understand the needs of their customers by understanding the perspectives behind selecting the technographic data. This enhances the relationship with their targets and allows companies to find opportunities.
C. Individualized communication
Technographic data nurtures and enriches the leads and helps optimize the entire journey of the customer and inbound marketing funnel. It nurtures and enriches the leads effectively and converts them into paying customers.
One can even customize the customer’s content based on their marketing stack’s sophistication to make them suitable for the technology stack.
D. Technology Intelligence
With the help of technology intelligence, one can develop a deeper understanding of their target which in turn provides technological opportunities to affect their future growth.
It also aids in filling market gaps, understanding recent trends, newer products, and their development, and acquiring more market share.
E. Opponent analysis
Combining the insights derived from Technographic data collection one can learn about the competitor’s behavior, their techno-marketing strategy, and the next vertical they are targeting.
F. Enhances Customer Satisfaction
According to various studies, it has been shown that 70-75% of companies fail to satisfy their customers. In such cases, technographic data can help enhance their customer experience by studying customer needs and helping B2B marketing and sales team make use of technology and create and engage with the proper accounts.
Challenges associated with the collection of technographic data
- Evaluating the technology: When and how the technology is used and ensuring that the information is up to date.
- Scalability: Challenge in scaling the data in certain markets and areas, especially when the information is out of date or unavailable.
- Lack of efficient technographic data: Difficult to recognize traces of software that is used every day by businesses due to inefficient technographic data.
- Real-time insights: Challenge in gathering real-time data about the engagement patterns and preferences of the customers.
Also, in cases where up-to-date data is required, difficult to check that your data provider offers data on the right scale for you.
How is technographic data priced?
There are numerous data providers from where you can buy technographic data and who offer a broad selection of pricing models. One can find various ranges like monthly and annual licensing models, customized solutions, and cost per prospect to annual.
The pricing of technographic data usually follows one of these three formats:
- Subscription to data feed – The price is dependent on the type of information and frequency of updating
- Cost per lead – The quality of lead decides the price
- Cost per batch – Time is taken, and the size of the batch decides the price
How can I get Technographic Data?
There is a range of delivery methods where you can get the right Technographic data depending on your need. For instance, if you want to get historical Technographic Data, it is usually available to download in bulk and delivered using an S3 bucket. On the other hand, you can buy real-time Technographic Data APIs, if your use case is time-critical.
Technographic data is becoming more important for B2B marketing with the advent of smart technology available in our business operations. This is the reason it’s better to start early to start reaping the benefits early.
With the help of Technographic data, you can modify your B2B business significantly. It not only improves your sales and customer acquisition but also gives you a clear competitive advantage and helps you understand best practices for your B2B business.