Technographic data helps with the right insights needed to increase sales. With a competitive business scenario, it has become increasingly important for the sales team to have the right data, for reaching the target at the right time.
The accurate information about the company’s technology usage, helps in a more targeted prospecting. It streamlines the sales process where the representatives can prioritize, ”when,”and “how” to target a high-value prospect. The process helps produce better business results. The technographic data guides the representatives to reach the prospects when they are sales-ready and motivate them to purchase the service or product. There are near to 100% chances of converting these prospects to buyers when you connect with them at the convenient and best time. The below infographic explains in detail the benefits of technographic data and how it can help the sales team to achieve the target:
What is Technographic data?
- Profiling of targeted accounts based on the technology stack
- It is the combination of demographics and technology
- It defines the technology to be used by the targeted customer
- It helps to understand the tools and applications company is using
- The implementation methods being used in the process of a company
- It helps to maintain the record of products or services
How are Organizations benefitting with Technographic?
- 75% organizations stated closing more deals is top priority
- 50% of the sales representatives spend time searching for the potential buyers.
- 74.38% of the sales representative could make informed sales call
- 81.10% of the sales representative were more prepared to speak to prospects
Companies Spending on software
- Companies spending $200 billion every year on software.
- 44% of businesses plan to increase spending on technology in 2020.
- Adoption of AI-powered technology to triple by 2021.
How is Technographic data used?
- Inbound marketing
- Total Addressable market
- Account based marketing
Benefits of Technographic Data
- More targeted prospecting
- More informed conversions in sales
- Improving the closure rates
- Penetrating the new markets
- Improving the customer retention
- Gaining the competitive advantage
- Understanding the potential customer
- Understanding the marketing technology installed in their process
- Good quality of sales conversations
- Improving the account-based marketing campaigns
Technographic and Sales
Technographic and sales could work in tandem.
- It helps in the customer success
- Find business intelligence solution
- Helps to identify gaps, opportunities, and challenges
- Identifying the technology budget spending of target company
- Helps to alert the sales team when the prospect is ready
- It helps the sales team to save time, as 63% of their time is spend on unproductive work.
Conclusion
Technographic is one of the useful solutions that could help the sales team reach their business target. They can use this data for personalizing the sales pitch while reaching out to each of the potential prospects. The process could help to increase the number of conversions and improve the business revenue of the organization. The sales team who would be hugely benefitted by using these data should use it wisely to reach out to the prospect.