The Key Reasons For Choosing a Technographic Data Provider

So you’ve decided to use technographic data as a key part of your marketing mix?

This is a wise choice.

Understanding your target audience and staying ahead of the competition is essential to succeeding in your efforts to move tech solutions into your target accounts. If you know what they’re using, you know what they’re not using!

In a constantly evolving landscape, leveraging accurate and actionable data has become essential in crafting effective sales and marketing strategies.

No marketer in 2023 needs to be convinced of the power of data.

The key benefits arise when you harness the data efficiently and for specific purposes.

With salespeople in this space traditionally spending only one-third of their time selling and a further 20% on call planning, technographic data is a game-changer for B2B sales and marketing professionals.

It will allow them to concentrate on bottom-line activities, armed with the evidence-backed insights they need to develop highly personal and targeted campaigns. This can be transformational for reach, response, and results in your business.

Here we’ll explore the alternatives to using an expert third-party technographic data provider and the key advantages of choosing to capitalize on the in-depth knowledge and high-grade capabilities of a dedicated specialist in this field.

Let's dive in.

The Three Ways to Gather Technographic Data

It is generally accepted that there are three broad methods of collecting technographic data: surveys, data scraping, and using third-party data providers. Let’s look at each in turn.

1. Surveys

In many ways, conceptually at least, this is the most straightforward way to gather the data you need.

Company A wants to know about the tech Company B uses, so Company A simply asks Company B for the information.

Easy, right?

Well, imagine you’re a busy executive working at Company B, and you receive a call or email from Company A asking for information on the tech you use in the business.

Even if you’re inclined to answer positively, are you going to know every piece of tech being used across the whole organization, and will you have the time or the patience to find out?

It’s quite likely you might be disinclined and so find the request to be intrusive and possibly even risky. ‘Why do they want to know’?!

In short, using surveys in B2B markets is demonstrated to be expensive and of limited value.

2. Data Scraping

Data scraping – effectively the automated extraction (via a bought or built bot) of information from websites – has been a popular method for gathering tech data in B2B sales. While it offers certain advantages, it also comes with significant downsides for you to consider.

It can be problematic for a number of reasons:

• Data Quality: Websites are dynamic and frequently updated, which means that scraped data may quickly become outdated and inaccurate. Reliability becomes a significant issue, as scraped information may not always reflect the most current tech data. Relying on inaccurate or outdated data can lead to misguided sales strategies and decisions, harming the overall effectiveness of your sales and marketing endeavors.
• Reputational Risk: Data scraping can strain relationships with website owners and administrators. If a company scrapes data from competitors or partners, it can be perceived as unethical and lead to strained business relationships. These damaged relationships can have long-term negative effects on collaboration and prosperous partnerships.
• Legality and Ethics: Data scraping can raise legal and ethical concerns, as it often involves accessing and copying information from websites without explicit permission. Many websites have terms of service or usage policies that prohibit scraping, making it a potential violation of copyright and intellectual property rights. Engaging in data scraping without proper authorization can lead to legal consequences and damage a company's reputation.

On the whole, while data scraping can be a tempting, seemingly quick, solution for gathering tech data, it carries substantial disadvantages that shouldn’t be ignored.

It’s not just not a good look for your company, for which trust from your target accounts – and indeed your wider industry peers – should be the number one priority, as we will see.

3. Use a Third-Party Data Provider

When you need to buy a bag of sugar, you might as well go to the general store. If you need to import sugar cane, you need to use a specialist.

It’s no different with data.

You can get plenty of top-level generic data points from Google. When you need specific information about the tech used by specific companies, you need to go to where the expertise resides.

5 Benefits of Hiring A Technographic Data Provider

Third-party data providers that specialize in technographic data offer key advantages that will make a material and unrivaled difference to your sales and marketing operations. Here are five great reasons why:

1. Tailored Pitches

In B2B sales, where decisions are driven by logic and specific business needs, personalized pitches will make all the difference – with 76% of buyers actively expecting a customized service from vendors, it’s something you can’t afford to ignore.

Technographic data provides an in-depth view of your target businesses, including their technology stack, online behavior, and purchasing history. With this knowledge in your armory, you can craft bespoke pitches that address the unique pain points and requirements of each prospect.

By tailoring your messages to resonate with individual businesses, you clearly demonstrate that you understand their challenges and can position your product or service as the ideal solution.

A high level of personalization cultivates trust and enhances the likelihood of conversion - 88% of decision-makers will only decide to buy at the point they recognize their salesperson as a ‘trusted advisor’. You need to know their needs. Great technographic data gives you that edge.

2. Effective Rates

By adopting data-driven lead scoring and real-time integration, you can eliminate the process of rating prospects manually and ensure your sales and marketing teams focus their efforts on the most promising, high-value, target accounts.

This streamlined approach enhances your operational efficiency and empowers you to make smarter, data-backed decisions

As a result, resources are optimized, and marketing efforts become more effective, ultimately contributing to improved conversion rates and sustainable growth.

Embracing the opportunities your technographic data partner will provide, gives you access to cutting-edge solutions that will give you the confidence to identify and target the prospects with the most revenue potential for success.

3. Competitor Displacement Campaigns

You’re competing in a crowded B2B battlefield, so knowing your competitors inside out is crucial. Using technographic data can empower you with knowledge about your competitors' strengths and weaknesses you just wouldn’t otherwise have, enabling you to develop targeted strategies to outperform them.

Competitor displacement campaigns involve identifying key areas where your offerings excel and positioning your brand as the superior choice to that of its competitors.

Leveraging technographic data, you can uncover opportunities to showcase your unique selling points and demonstrate why your solutions outshine the competition.

Remember this: 75% of businesses and tech leaders fear competitor displacement campaigns. By partnering with the best data provider, you can really give them something to worry about.

4. Expand Target Markets

Expanding into new target markets is a common goal for ambitious B2B tech businesses (that’s you!). The right technographic data plays a vital role in this expansion by offering insights into potential customer segments that align with your offerings.

By analyzing the technological preferences and behaviors of organizations in different markets, you can identify untapped opportunities.

Tailoring your marketing efforts to address the specific needs of these markets enhances your chances of success, driving growth and diversifying your customer base.  70% of your competitors have strategies in place to do just this.

You’re missing out if you don’t.

5. Better Lead Growth

You know that generating a steady stream of high-quality leads is the backbone of success in B2B sales and marketing. Working with the expertise of your technographic data provider will allow you to identify prospects with genuine purchase intent based on their technology usage and engagement patterns.

Employing data-driven lead scoring and nurturing strategies enables you to prioritize and focus your resources on leads that are more likely to convert. Your technographic data partner will keep on top of changes in your tech stack, enabling you to constantly evolve your messaging and approach for maximum returns.

So, Decision Made?

Choose Revnew as Your Technographic Data Provider

It should be! By leveraging the best third-party technographic data provider like Revnew that offers the full array of invaluable and evolving insights, you will have access to a rich and accurate view of your target's tech landscape.

This treasure trove of data empowers you to craft tailored pitches, identify high-potential leads, and optimize your strategies to land the big-ticket clients you need.

Making the best use of your technographic data partner will enable you to achieve a competitive edge over your competitors at the most critical points of the client engagement process. Embracing your third-party data provider’s delivery capacity will transform your B2B sales and marketing efforts, enabling stronger connections with prospects, driving customer loyalty, and propelling your business toward ever greater success in your tech marketplace.

Don’t delay, start building the best technographic data relationship you’ll ever have. Just contact us today.