Technographic data provides insight into a company’s technology stack, as well as their intent to buy further tech solutions. It’s like demographics, but it’s about technology rather than people. In fact, it’s a portmanteau of the two words: technology + demographics.
Business runs on technology, most of it ingrained and inescapable. In fact, companies spend upwards of $250 billion per year on software, so every company is filled with technology. There’s so much technology, it’s hard to keep track of it all, let alone imagine how much of it there actually is in a company’s day-to-day operations. The question is how much do they have, which products and services do they use, and how recently did they adopt those new technologies?
Building a picture of a company’s technographic data can help other tech solutions providers understand which of their prospects are a good fit and which ones are not viable candidates. If you know a company’s technographics, you know if the company could even use your product or solution, or whether you can cross them off your list before you ever make a single phone call.
For example, imagine selling a Hubspot add-on as part of your marketing solutions only to find that half the names on your prospect list are Marketo or Pardot users. Understanding your prospects B2B technographics would have helped you avoid the embarrassment and wasted time calling prospect after prospect only to be told, “Sorry, we don’t use Hubspot. At all.”
Understanding a company’s firmographics — data about a company’s size, revenue, product, locations, and industry — and their actual demographics — the contacts’ titles, social handles, contact information — is important to being able to reach companies in the first place. But it’s knowing their technographics that will help B2B companies understand a company’s fit and intent in buying.
Account Based Marketing (ABM) relies on the three “graphics” — Firmographics, Demographics, and Technographics — to be able to reach the right customers with the right message at the right time. And since most tech solution sales are not simple one-off transactions, ABM is the best method for reaching the right people and sharing the best information over a longer period of time.
Why Technographics Matter
- Improve your ABM strategy: By combining technographic data with the other data types, you can prioritize and target the accounts with the best fit. You can determine which prospects recently adopted some new technology, or have been veteran users of the tech, and determine which ones you should call first.
- Effective content strategy: Use technographics to personalize your content and make it more relevant to your target customer. Sometimes their technology can determine the channels you use to communicate. Other times, it will tell you what kinds of content matter to them and which ones don’t.
- Faster conversion and close rates: Understanding a customer’s fit can help you weed out the non-starters, which improves your conversion rate. Knowing their intent to purchase helps you contact your leads at exactly the right time, which improves the speed of the conversions. Close more sales faster with fewer wasted calls.
- Analyze a customer’s need based on their tech stack: By analyzing and understanding a target’s tech context, you know where their gaps, challenges, and opportunities lie. This means you can better position your product as their solution.
The EverString Approach to Technographic Data
In a data-driven sales and marketing strategy, companies will often try to pull data from several different vendors. One provides firmographic data, another provides demographic and contact data, and the third provides the technographic data.
Then you have to match everything up, clean up the records, and hope you don’t have a lot of partial and mismatched records. You’ll spend a lot of time de-duping and organizing the matches, then either buying additional data to fill in the holes or spending a lot of time doing it manually.
EverString works differently by gathering all three sets of data ourselves, matching it up using machine learning and artificial intelligence, and turning into a “single source of truth.” No data reconciliation, no de-duping, no holes to fill. With a single source of data, you can save yourself hours and hours of data management and immediately give your sales and marketing teams sophisticated and relevant insights that will ultimately drive a higher ROI.
“EverString provides accurate firmographic and technographic data about the vast majority of companies in their database and allows us to refine and filter that list by literally hundreds of data points.”
—Raheel Alam, Salesforce Administrator, BombBomb
Ready to see how EverString’s modern data platform can provide the most reliable B2B technographic data? Contact us for a free demo.