How Technographics Help Define and Target Demand in the SiriusDecisions Demand Unit Waterfall
Business-to-business companies seeking to improve sales processes are adopting SiriusDecisions’ Demand Unit Waterfall to help them clarify their market demand at each stage of the sales process. But this knowledge is just the starting point for B2B technology marketers who are looking to better target their audience and to address them with messaging that is personalized to their business needs. This is where technographics can influence the Demand Unit Waterfall and help companies market and sell more effectively.
Demand Unit Waterfall Defines Sales Process
The core element of the Demand Unit Waterfall is the concept of a Demand Unit, which SiriusDecisions defines as a group of executives that play various roles in the purchase process, ranging from decision champion to decision ratifier.
The Demand Unit moves through the stages outlined in the figure below as it progresses through the sales process. The stages most impacted by technographics are the first two, Target Demand and Active Demand. Before diving into the critical role that technographics play in these two stages, it may help to define technographics.
Technographics Provides Tech Install Data
There are multiple data sets that go into building an ideal customer profile to aid in sales and marketing activities throughout the Demand Unit Waterfall. These include demographics (data related to people, such as name, work title, etc.) and firmographics (data related to companies, such as company size, revenue, etc.).
But for companies marketing a technology product, technographics provides a much clearer picture of the customer environment. In addition to install information, technographics provides insights such as approximately when a technology was purchased, where it’s being used and how long it’s been in use. This information is crucial in developing highly-targeted customer messaging.
HG Data builds its technographic data set by indexing over 2 billion unstructured documents from online, archived and offline sources. We use our advanced data science and internally developed Data Integrity Platform, to extract from this unstructured data recent, actionable and accurate install intelligence.
The Role of Technographics in the Demand Unit Waterfall
Utilizing technographics within the Demand Unit Waterfall helps to define what the market looks like, so that sales and marketing teams can develop their ideal customer profile, understand customer priorities, and sharpen the market messaging to address very specific customer pain points. As discussed earlier, technographics are most critical in the Target Demand and Active Demand stages of the Demand Unit Waterfall.
Target Demand refers to the total number of Demand Units that could potentially be interested in a product or service. This represents the total addressable market. The reason technographics are so important in Target Demand is because this data helps the sales and marketing teams target the right accounts by knowing if those accounts have a competitor or complementary product installed.
Active Demand refers to a subset of total demand that are likely looking to buy a product or service in the near future. Technographics are critical at this stage because the data allows sales and marketing teams to understand which accounts have obsolete software or hardware that is no longer being supported. Technographics data can also indicate approximately when a new technology was installed.
Having access to technographic data in the Target Demand and Active Demand stages of the Demand Unit Waterfall enables teams to strategize and develop messages that resonate with their prospects for better results in their outreach. For example:
– In a displacement campaign, potential customers with a competitor’s product are targeted and messaging emphasizes the specific benefits offered over that competitive product. For potential customers who are in the engaged or prioritized levels but not ready to buy, technographics can be useful in nurturing campaigns offering specific content to re-engage the customer.
– In addition, by understanding the technologies a potential customer has installed, marketers have a predictive data point as to where they fit in the Demand Unit Waterfall. When marketers combine this information with sales experience about which technologies are easier to sell against or that enable the sale, they can create better customer profiles and fine-tune their messages to be highly relevant.
Bedrock Data Shortens Sales Cycle with Technographics and Demand Unit Waterfall
Let’s take a look at how one company is using technographics as part of its Demand Unit Waterfall.
Bedrock Data is a data integration platform that focuses on integration pairings between marketing and sales systems, such as a marketing automation platform and a customer relationship management (CRM) platform.
In its sales activities, BedRock Data leverages HG Data technographics to identify the key segments that may have a certain pairing of a CRM system and a marketing automation system where Bedrock Data has pre-built expert level integrations. That technographic data has been a foundational piece for its demand generation.
This allows Bedrock Data to deliver hyper-targeted messaging focused on a specific pain point.
For example, when Pardot, a B2B marketing automation platform, was decommissioning a number of its native connectors, Bedrock Data was able to bring that into its messaging to Pardot users, because it was a very real issue that those users had been dealing with.
In another example, Bedrock was able to promote its connector between HubSpot and Cvent by discussing the benefits of connecting event data through to business outcomes.
During its first wave of sales activities combining technographics and the Demand Unit Waterfall, Bedrock Data started with a target demand of just under 700 accounts. Bedrock Data reached out to them with email and content offers, webinars, and after the first month, 41 of those accounts entered into engaged demand, which generated six pipeline opportunities and three closed accounts.
Over a short timeframe of one month, Bedrock Data was able to see solid sales success in terms of conversion rates and projectable opportunities as a result of using technographic data from HG Data within its Demand Unit Waterfall process.
For B2B technology companies like Bedrock Data, technographics provides a distinct advantage in working Demand Units through the Waterfall through distinctive marketing and sales messaging and activities that connect to the needs and wants of the Demand Unit.
To learn more about HG Data Technographics and how they can help you supercharge your outreach, visit www.hgdata.com/technographics