Understanding what will help you grow is valuable information for any business – that’s why we published our report ‘Tech Impact ’19: How technology is used by the UK’s fastest growing businesses’. It provides insights into what impact different technologies can have on business growth.
While this is obviously useful for businesses that are looking to grow or to accelerate growth in any industry, it's also valuable for businesses in our own sector: the tech channel. Here, having a good understanding of how widely technologies are used, which technologies can be most valuable to businesses and what technologies work well with a business’ existing tech stack is crucial.
Perhaps more valuable, though, is what you do with that insight. Simply knowing that info can help you identify which market segments to target, but with the right tools it is possible to identify specific businesses to target, too.
Let’s take Business Intelligence (BI) & Data Visualisation technology as an example. As highlighted in our report, we know this category of technology is used by the UK’s fastest growing companies to a much greater extent than other UK companies. We know that 61% of Fast Track 100 companies are using BI & Data Visualisation technology and that the figure falls to 14% for non-Fast Track 100 businesses. This tells us that there are opportunities for targeting both groups, but that the latter is a much bigger potential opportunity.
As a business offering this sort of technology, or one considering offering it, this alone can help to shape your marketing and sales activity to some extent. However, that activity can be made more effective by knowing who those businesses are and further still by adding in additional criteria to identify the businesses within that group that are most likely to buy.
Based on the price at which you offer your BI & Data Visualisation tech, you might want to filter companies by turnover. If you know that certain industries aren’t relevant you may want to exclude them. And if you only work in specific regions, you can set that parameter. You can keep drilling down in this way until you find the right sized group of business with the right attributes.
There are all sorts of criteria you might want to sort a group of tech channel businesses by. Similarly, you may not want to look at just prospects – you may want to apply the same approach to customers, competitors or potential partners. Fundamentally, though, it’s important to remember one thing: the better the market intelligence, the more successful the business.
If you’d like to see how IQBlade can find channel businesses based on criteria you’ve set, you can request a demo on our website.