As much as you may want to, you can’t control customer intent. You can, however, acquire the skills to know what they need. In order to drive sales, you need to become adept at predicting customers needs and demand in real time. Luckily in the tech world, you’re one tool away from reaping all the benefits that a proverbial glimpse into the future brings. This post will discuss what capabilities you need to effectively detect emerging customer trends, how your business can drive sales by using them, and why SimilarTech’s Sales Insights Platform is the tool for the job.
Detect to react
Let’s make one thing clear: long-lasting sales success starts with understanding fundamental market opportunities and possible points of friction. There’s a general perception among SMBs that aggregating and converging data from multiple channels is complicated. Many believe only large enterprises possess the necessary resources to leverage big data, when in fact almost anyone can easily utilize data enrichment for their advantage, provided they have the right tool.
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With SimilarTech, you have the option to create real-time alerts to stay on top of trends and leverage that knowledge. There are two types of alerts:
- Technology alerts: get notified when a company adds or removes a technology you’re tracking
- Website alerts: get notified when a company you’re tracking adds or removes a specific technology to its tech stack
These alerts often reveal opportunities you haven't even thought of as you’ll be able to identify (in real time) companies that can benefit from adding your solution to their tech stack. For example, if you’re notified that a company has dropped a competitor, you can immediately reach out and pitch contextually. Or you can monitor prospect companies and see their behavior. Changes are inevitable, the trick is to be ready for them and adapt to stay relevant and competitive.
An example of how Technology alerts work
Expand your initial focus
The majority of businesses are well aware they need to perform market research, yet they stop short of going outside the boundaries of their research. Give ‘em the size of the market and the rough number of those interested in what they’re selling and they feel equipped to enter the selling field. While knowing those facts is important, it’s also superficial data. You end up having the same Fortune 500 companies being approached by every solution under the sun. By using tools that enrich your database and update you in real time, you can move the needle by making accurate strategic decisions. Using SimilarTech’s real-time alerts combined with insights from correlated technologies, you can get notified when a company installs an overlapping technology so you can reach out to them contextually. Correlated technologies is a feature that reveal the other technologies your prospects are using. So used in concert with alerts, you can show how your technology, combined with their tech stack, and bring higher level of efficiency and performance, be it through a more encompassing or a direct solution, cost-friendly option, and so on.
A Technology Report for eCommerce based on 100k - 1M monthly visits, including correlated technologies
For example, in the example above, you can broaden your initial focus, and go beyond the “usual suspects” to expand into new business verticals to tap into, along with other geographies. If for example, you’re focus is eCommerce, you can uncover other technologies your prospects are using (those would be the correlated technologies) and then set alerts so that you’re notified when potential customers, for instance, install Ensighten as a tag management tool or Bazaarvoice as a social commerce service. That’ll help you broaden your focus from only focusing on the eCommerce category (where you and your competitors primarily operate) and move on to different categories and subcategories. Using these newfound overlapping technologies, you can also run a detailed report based on each of them to widen your focus even more and find new verticals and business.
Keeping up with changes
Here’s another feature that can help you uncover trends and deliver a personalized experience. SimilarTech has a website analysis feature that records the history of tech adoption for every company we monitor (roughly 317 million of them and counting). You get historical data showing when they started using a particular technology, as well as what they tried in the past. This will allow you to gain a sense at their adoption habits and potentially reveal challenges they routinely face. In addition, knowing their tech adoption history will help you personalize your conversations with your prospects: help point out and discover what went wrong, and show how your solution relieves all the pain points they have. With real-time alerts at the forefront of the trend-uncovering, tech adoption history also helps prevent customer churn, providing you with actionable insights on repeating patterns and historical trends that you can get ahead of.
Stay alert with SimilarTech
SMBs have the ability to swiftly react to market changes and opportunities due to their high level of flexibility and adaptability. With the tech space constantly changing, you have to continually be on alert to be able to adjust and respond accordingly. As long as you know how to spot changes and trends and leverage them, your business will have a great opportunity to fulfill different (and changing) needs of your current and potential clients.
Today, sales insights tools are more accessible than ever and can be used by anyone to detect emerging trends. You need to be able to gain relevant information into your prospects’ behavior on the go in order to take appropriate steps to address changes and the resulting demands and needs as they happen. That’s what SimilarTech brings to the table: an easy-to-use and intuitive platform that provides actionable sales insights so you can be first in line when important events happen. Timing is a key factor here and with our two-way real-time alerts, you get a chance to react at the perfect time. By analyzing more than 317 million websites daily and 99.99% of active websites reached and indexed in our database, you know nothing will slip from under our radar.