73% of B2B marketing leads are not sales-ready, according to MarketingSherpa's B2B Marketing Benchmark Report. This obviously impacts lead conversion and campaign ROI. So what could have gone wrong here? One of the key influencing factors is whether the target account is the right fit in relation to your company’s offering. Knowing buyer personas and the company’s business profile is not enough to determine that – you need much deeper data intelligence about the company.
In fact, research has highlighted insufficient insights into the target audience as one of the top three challenges faced by B2B technology marketers. So how do you obtain better insights to identify which are the best accounts to go after?
The emergence of a new term in B2B technology marketing is the secret sauce for your lead generation strategy and account-based marketing plan: Technographics. Technographics profiles the technologies and related attributes installed or used by organizations, in short, their technology stacks.
Technographics criteria may include various parameters:
- Network, compute and storage deployed, for example HP or Cisco.
- Cloud or on-premise “posture” – do they use cloud providers?
- Specialized industry applications such as AutoCAD.
- Mission-critical business applications such as ERP.
- Big data technologies such as Hadoop.
Why Do You Need Technographics?
By performing segmentation based on technographics, you can identify companies that align closely to the ideal customer profile for your solution and therefore the best fit. Combined with firmographic detail, you can prioritize and target these high value accounts with greater pre-disposition to buy your solutions, which means you get better conversion rates for your campaigns and pipeline acceleration. Understanding the organizations’ existing tech stacks and applying technographic segmentation provides you the context needed to hyper-personalize your campaign. You can now leverage these augmented insights to tailor the messaging and content for each target segment in different campaigns, including customer acquisition, competitive and complementary solution sell. This is in effect delivering account-based marketing campaigns at scale.
Let’s walk through an example:
Let’s say you are launching a new “Hybrid Cloud” offering and trying to segment a whole country or region by customers.
Step 1: Technographics segmentation by technology
1. Customers in Asia Pacific with “cloud adoption” and specifically “Amazon Web Services or Azure”
2. AND customers with “Virtualization”
Step 2: Firmographics filtering
If the initial result yields thousands of accounts that align to criteria, you can narrow down further with firmographic filters such as revenue, employee size and industries to obtain an even more targeted segment of companies.
Step 3: Are they are a current customer?
We then compare our existing customers to the data sets to identify customers by acquisition if they aren’t a customer or by expansion if they are a customer.
We then end up with our segmentation Venn chart where we can simply export the customers in each segment slices to personalize the campaign to that specific customer.
To discover the full potential of technographics in your marketing campaign planning, get in touch with our team at FusionGrove, the Account-based Revenue Orchestration platform.