DemandMatrix Blog

close
Data Enrichment | 3 min read
Written by Paroma Sen
on January 08, 2019

Businesses are collaborating more today than ever before. Global expansions and global growth opportunities mean that contracts can’t be relegated to one location anymore.

An increase in usage of electronic signatures was a natural outcome of this pattern.

Worldwide Electronic Signature Market by Revenue

 

 

Reasons attributed to increase in use of e-signatures

Simple to use: The biggest benefit of e-signatures is that it’s as easy as uploading a document, declaring signers and recipients, and delivering a secure link to the recipient

Security: E-signature platforms are considered more secure than traditional paper documents

Convenience: E-signatures allow remote authentication, making it a much more convenient solution than common traditional alternatives like mailing, printing, scanning

Faster turnaround time: Allows everyone to sign off within seconds  and is crucial in time-sensitive situations

Low cost: E-signature usage is more cost-effective than traditional methods and also helps save paper!

 

Geographic Analysis of Electronic Signature Market

Electronic signatures are widely used in private affairs, legal dealings, business transactions, and even as part of official government documents.

Many countries have afforded e-signatures the same legal status as traditional signatures.

Major applications of Electronic Signature market

New electronic signature industry targets

 

The Industry Effect

The e-signature domain was primarily dominated by a number of smaller players but over time, larger players made a foray into this segment. Every player now needs to gather stronger competitor intelligence on an ongoing basis to strengthen their go-to market strategy and to stay relevant in a dynamic marketplace.

The technographic approach to competitor analysis provides critical and reliable inputs like:

Better Lead Scoring

Enhancing and strengthening lead scoring processes, prioritizing target accounts based on propensity to buy and relevancy is all possible with better competitor intelligence through technographics.

  • Technographic data combined with Next Technology Purchase intelligence has been used successfully to prioritize efforts and targeted marketing practices in this industry based on whether prospects were a competitor’s customers or not.
  • With this data-backed intelligence, leading e-sign players have been able to track the target market of their competitors, as well as the technographics of its customers at the time of sale.
  • This data provides key answers to questions like:
    The verticals competitors are going after next, 
    Who would be their closest competitors in the coming quarter
    Deployment patterns among potential targets (example below)

 Latest Industry Trends in Electronic Signature Industry

Improved lead-conversion rates

With technographic backing, key players in this domain have scored inbound leads based on whether the leads were a competitor’s customers or not.

This has helped sales teams in leading e-signature companies focus on leads that have a higher conversion probability, thereby improving sales ROI.

Focus on future growth

By keeping track of the common technologies between competitors, leaders in the e-signature domain have found it easy to predict how the landscape was changing.

Leading e-sign players have used technographics to foresee their competitor’s future course of actions and this has allowed them to optimize their marketing strategy to capture more market share.

Personalized offerings for customers

Using technographic data to know the job title of their current or potential users, e-sign players have been able to better understand why users have chosen their present technology stack.

This has enabled better marketing and sales efforts due to identification of persona-based triggers.

New market acquisition

By identifying the uncommon or new verticals that competitors were going after, e-sign players have customized their marketing and sales strategy to tap market share first and strengthen their go-to market strategy.

 

More and more companies, especially e-sign providers are relying on different kinds of data sets (like technographics) to transform how they approach and achieve their overall business goals. That demands answers to a pressing question: do you need it too?

 

Start a conversation.

Put your Comment Below.

You may also like:

Data Enrichment

Why do Cloud Companies need Technographics to Enable Product Marketing Effectiveness and Innovation?

Did you already know that more than half of the world’s companies (already using Cloud) will adoptan  all-in cloud strat...

Data Enrichment

What is Lead Enrichment? And why you need it.

The essence of marketing lies in catering to the needs, wants and aspirations, said and unsaid, of potential customers. ...