HG Insights continues its evolution from a technographics licensor to a full-service direct source of technology market intelligence. Two weeks ago, they launched Market Intelligence, a market analytics service for marketing, product management, and strategy groups. Market Intelligence delivers “actionable insights [that] business leaders need to understand their markets in-depth, make better business decisions, and go-to-market (GTM) with confidence.”
Market Intelligence insights are derived from their global verified technology installation data, including which products have been installed, tech stack spend by category, and contract terms. “This trio of data sets powers detailed, customizable views of the entire installed technology ecosystem,” wrote the firm.
The IT Spend and tech install data are broken into different categories, helping sales teams determine which verticals are likely to have both budgets and an intention to purchase. Revenue teams can drill into market segments to understand the “size, shape, and structure” of target markets.
Likewise, marketing can use install and spend intelligence to better segment and target their outreach. Information can be analyzed by IT category, industry, region, and other relevant attributes. Better targeting allows firms to focus their marketing spend and attention on the right prospects and feed marketing qualified leads to sales.
Revenue teams can deploy Market Insights for territory optimization, account targeting based on propensity to purchase, and account-based messaging.
HG Insights contrasted Market Intelligence with traditional technology research vendors that provide “static, top-down analyst reports that are not customizable at the account level.” According to HG Insights, technology analyst reports lack the account intelligence that revenue teams require to engage with customers and prospects effectively.
“HG Insights Market Intelligence platform addresses these challenges by providing you with the bottom-up account intelligence you need to understand your markets in-depth and make better business decisions,” contrasted HG Insights Marketing Communications Manager David Guerra. Using our Market Intelligence platform, you can now instantly analyze the true size of your markets globally by technology installation, IT spend and budget, and a number of other factors.”
Users can also compare the market size of various markets such as countries by vertical to determine growth opportunities. Other features include vendor penetration rates by industry, purchasing and spend data for target accounts, and segmentation based upon ICP criteria.
“The HG Insights Market Intelligence platform gives you all the information you need to understand your markets, remove subjectivity from planning, and go to market with confidence,” stated Guerra.
A few weeks ago, HG Insights closed on an equity round with Riverwood Capital. HG Insights completed a successful 2020, reaching its highest annual recurring revenue (ARR) and profitability. Employment rose 30% last year, and revenue grew over 35%.
“Customers continue to reaffirm that HG Insights’ data’s breadth, depth, and coverage accuracy has become an indispensable asset for critical decision making at every level of a technology company,” commented Riverwood Principal Ramesh Venugopal who joined HG Insights’ Board. “HG Insights provides unique, data-driven knowledge giving decision-makers confidence that they are making the right choices.”
Part II covers how Product and Strategy teams can employ Market Intelligence for determining the Service Obtainable Market (SOM) for technology offerings.