Apr 07, 2022
In General Discussion
For technology services companies, automation tools and the inclusion of AI in products and platforms make this a time of tremendous opportunities and increasingly complex challenges. As the market becomes more hyper-competitive than ever, effective IT marketing becomes absolutely essential. But what are the Latest Mailing Database most pressing challenges for technology services companies, and what initiatives are they prioritizing moving forward? Hinge's ongoing High Growth Study tracks these trends and identifies the scalable strategies and tactics favored by high-growth technology companies over their slower-growth peers. Download the 2018 High Growth Study: Technology Services Edition Consider, for example, the top five market threats cited by technology services companies. Compared to results from other professional services industries, increased competition from incumbents and new entrants is a shared perceived threat. This will become more and more of a challenge as more and more competitors enter the technology market to compete for a limited number of buyers. However, there is one major difference between technology services and other industries: the Latest Mailing Database two-way impact that automation and AI highlight. On the one hand, these innovations help businesses bring new and better offerings to market that can be delivered faster/better/cheaper than ever before. On the other hand, the very innovations that help propel old companies also make it easier for newcomers to enter the market. By researching your market, you will learn more about your customers' needs and expectations, which will allow you to Latest Mailing Database serve them more effectively. Market research also gives you insight into the performance of your processes. You can develop a more objective and in-depth understanding of what aspects of your business work best, as well as insight into what services you should be offering. It's a philosophy that should be familiar to many in the technology services industry: with more data, you can make more effective decisions. Our own research has shown that companies that systematically research their prospects and customers grow three to ten times faster and are up to twice as profitable.