4 Steps to Using Tech Data to Identify Your Best Prospects


PHOTO: Israel Andrade | unsplash

We all know that in order to successfully scale a business, you have to reach the right customers, and to do that, you need the right information. To know your prospects well, you need to have access to real data about who they are, what they need, and in the case of B2B audiences, how they run their business.

The better your intelligence, the better your understanding of who makes up your ideal accounts. This understanding helps you effectively segment a target list and decide who to approach with various marketing tactics.

Get the right data

Like everything in life, entry determines exit. So if you want to identify the best targets, you will need the right data. The most common types of B2B data are firmographic data and contact data. Firmographic data tells you things like a company’s annual revenue, number of employees, physical location, and industry. Contact data gives you information about people in a target account, such as their title, location, and email address.

These are all types of useful information to use as you develop your market segments. However, if you’re selling software, you’ll also need to know what’s in their tech stack. This will help you spot likely synergies (and potential hiccups) before reaching out. This is called technology data because it tells you what tools and software your target business is using.

Armed with this information, you can determine which complementary or competing technologies they use and which of your products or services are likely to integrate well with their technology. You can even start figuring out what their next tech purchase is likely to be. Then you and your marketing team can use this rich understanding to make sure you’re targeting the right businesses, generating better lead engagement, and increasing your conversion rates.

Related article: Getting Started with Data Orchestration for B2B Marketing and Sales

4 Steps to Using Technology Data Effectively

Having technological data is like being a kid in a candy store. You’ll have richer information than ever before, and once you have it at your fingertips, you can take these four steps to deliver targeted, personalized marketing to the right people at the right time.

Step 1: Imagine your Ideal Customer Profile (ICP)

A KPI is a detailed description of the type of customer that best matches your product or service and delivers the highest possible customer value. The profile contains firmographic information, their needs and wants, their weaknesses, their values ​​and their goals. It is usually based on data on previous and existing customers that you have identified as being of great value to the business.

To do this, you’ll want to know how much the account spends on technology and what it has purchased in the past. When you pull tech insights from old customers, you might find that companies that previously seemed like ideal customers no longer fit as perfectly as, say, another customer whose tech stack fits exceptionally well with your product. This allows you to develop a qualifying score for each lead that shows how likely they are to match your KPI.

It’s the same concept as the public “lookalike”. When you identify former customers with a similar technology profile, you increase the chances that the prospect will match your profile and become a customer. By incorporating this data into future KPIs, you can focus on closing accounts with higher earning potential.

Step 2: Prioritize your prospects

Rank your potential accounts based on their potential by assigning weights to the business attributes that best suit your product. Increase the score of companies that use technologies that work well with yours, and reduce the score of those that use incompatible products.

Pick the businesses with the highest score and rank them based on the likelihood of being able to close them as new accounts receivable. You will end up with a list of priorities to target with your sales and marketing messages.

Related article: How to Attract and Engage, Without Alienating, B2B Buyers

Step 3: Segment your audiences

After completing steps 1 and 2, you will end up with a list of accounts to target in your marketing. With the right platform, segmentation is easily done by filtering accounts based on specific technologies and activities such as website visits or business contacts. You can create specific sales and marketing games for prospects using similar technologies, then refine your communications to speak to them directly.

Having a 360-degree view of your prospect that includes technology data and other types of data gives your marketing team the opportunity to be truly specific with marketing messages, based on the information available for each audience segment. .

If you’re targeting companies using a particular technology tool that integrates with yours, for example, you can get the message across about the benefits of using the two together as a complete end-to-end solution.

Step 4: Identify upcoming technology purchases

There is nothing as powerful as knowing the exact solution a buyer is looking for the moment they are looking for it. By examining the patterns of how companies buy technology, you can begin to predict what technology a business will look at next, and when – and use that to identify your reach at the right time, before they lay their hands on it. your website or send a call for tenders.

Establish a clearer picture of your prospects

Technology data can help you narrow your target audience to a specific niche and direct your ad and marketing spend to the best possible leads. Overlay firmographic and technographic data for a deep understanding of your prospects and their needs.

This strategy will improve the success of your prospecting and allow you to find new opportunities for cross-selling, upselling and converting customers to buy your products. Your sales team’s time will be more productive, they will increase their conversion rates and offer you the most promising ROI.

Jon Miller is the Product Manager for Demandbase. In his role, Miller is responsible for delivering the product vision for Demandbase to delight customers and fulfill its mission to transform the way B2B companies market themselves.

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