Technology companies in B2B sectors like software, hardware, networking and security are struggling to reach the right decision-makers on the right channels to drive revenue and improve their sales pipeline. The ability to connect with the right decision-makers can have a huge impact in the revenue growth of enterprise technology organizations.
In the face of increased competition, sales development representatives are facing challenges to build strategies that facilitate consistent retention, upsell and cross-sell of their new products, features and services. To understand how to approach a customer with precision and personalization, SDRs must be fully aware of their prospect’s existing technology stack and how your products can fit in or complement their tech stack. Now, what is a technology stack?
The Tech Stack
A company’s tech stack includes all installed technologies, from the operating system, email servers, to marketing and sales automation tools, and more. Even the system used to track time, reporting and attendance of employees is part of a company’s tech stack. Have you heard of terms like martech, fintech, HR tech or sales tech?
The sales technology stack is a collection of software tools that help sales teams develop, implement, and manage sales development and outreach programs that can resonate with prospects and customers. As you develop a strategy for engaging a company about their tech stack, remember that specific departments may be responsible for buying their own technology – or those purchase decisions may be made by a dedicated procurement role.
At this point, you might be thinking a company’s tech stack could be very vast. Well, you are right. Reports suggest the average sales department alone uses over 15 different technologies. With newer technologies being developed with every passing day, the average business technology stack of any enterprise is only getting larger and more complicated.
What is Technographic Data Intelligence?
Just like how demographics and firmographics provide a profile of the person or company to be described, technographics gives you a detailed picture of the person or company’s IT landscape.
It is useful to identify your prospect’s technology usage patterns, purchasing behaviour or their attitude towards a certain technology product or brand. It answers the questions below
- What hardware and software they are using?
- How are they implementing and utilizing their varying tech stacks and platforms?
- What are they likely to purchase next?
How Do Technology Sellers Use Technographics?
Sales and marketing teams use tech stacks to obtain useful data that might indicate buyer intent – such as online search behaviour, personnel movement, mergers and acquisitions. Additionally, technographics can be used to identify new and potential markets, and prioritize a list of best-fit accounts for their solutions. Listed below are a few quick ways SDRs can use them to grow their business.
#1: Replace competing technologies
Discover companies that already use technologies similar to yours. There are high chances they might be looking to replace their product with a fresh technology like yours.
For instance, if your company offers CRM solutions; wouldn’t it be great if you get all the data you need about prospects who are currently using Dynamics CRM? You can put all these companies in your top priority list for sales outreach.
#2: Discover complementary technologies
Sales and marketing teams in software companies can greatly benefit from this tactic. Compatibility with your customer’s existing technology stack matters to them when they make a purchase.
For example, if your product is greatly compatible with Salesforce Customer 360, you have found a great way to engage with the decision-makers and introduce your product. Your messaging will be relevant, personalized, and worthy.
#3: Personalize your outreach
Whether you reach out to your prospects via email, social media, or phone, it is difficult to make it sound like it is not a sales pitch. It helps when you can convince your prospects that you really want to help them out. Technographics can give SDRs a relevant information that can make your sales pitch look personalized. It becomes evident that you have made efforts to do your research. And all of it comes from insights obtained from technographic data.
Sample: “Hi Ryan, I can see that you have been using Salesforce Customer 360 for your CRM needs. If you are looking for solutions to fetch direct dials and mobile numbers from within the CRM interface…”
It becomes evident that you have made efforts to do your research. And all of it comes from insights obtained from technographic data.
How Can SMARTe Help?
You’ll have to choose which marketing channels and media you want to run your campaigns on. Examples of channels you could consider include email marketing, social media, blog, PPC ads, and more. The best indicator of where you should conduct your campaign is your prospect’s motivation and behavior. Dig deeper into your data and figure out where your prospects are most likely to respond to your marketing content.
Once you have narrowed down your best marketing channels, choose a few to use that will likely be the most effective for accomplishing your goals. Be careful not to spread yourself too much, as this can reduce the potency of your strategy.
Identify Target Buyers
Usually, the first step for any technology sales and marketing team is to develop several buyer personas for your solution like CEO, CIO, CTO, Head of IT, and more. Understand their goals and challenges, and who they’re likely to engage with. We offer granular-level customer segmentation which allows you to search by levels, functions, titles, and locations. Parse out your contacts by demographics, industry, interactions with your content, and more. This helps you target and personalize your messaging to your prospects and clients.
Direct Access to Decision-Makers
We provide your teams with direct access to key decision makers of accounts that are most likely to purchase your product. Build accurate, actionable, high-quality prospect lists to enable your sales and marketing teams with all the insights they need to identify, connect and engage with their prospects.
Learn Technology Adoption Behaviour of Your Target Accounts
Seeking new leads entails a variety of manual and automated actions across multiple channels. B2B data and intelligence through data platforms like InfoGenie is integral to this process. With technographic information on your competitors and their customers, technology SDRs can reach out to the right prospects and they can identify cross-selling or upselling opportunities.
We provide your sales reps the opportunity to fetch mobile numbers of prospects at real time within your CRM with 70% coverage in North American and 50% coverage in EMEA/APAC. By minimizing the time spent on administrative and research tasks, you can handle more accounts in less time.