🎯 How to research if a Company Shift from Licensed software to Custom Software in Business?
My goal was to find a process and indicatores to specifically determine what companies in 'Non-software' industries (healt&care, manufacturing, etc.) are relevant prospects to offer our (but basically any IT-related services). But how can you tell if a company is making this transition? How to get closer to the 'most ideal time' to approach? Here’s what I found:
Increased Hiring in Tech Roles: Ergo monitoring companies' job offering wall. A surge in hiring software developers and IT project managers can be a sign. Companies building their own software solutions often ramp up their tech teams.
Public Announcements and Press Releases: Companies often announce major digital transformations. Keep an eye on news sections on company websites and industry publications.
Social Media Insights: Tech leaders often share insights or updates about their digital transformation journeys on platforms like LinkedIn. As well as other tech companies announcing cooperation for this prospect.
Participation in Tech Conferences: If any representative of a company was attending a conference on digital transformation or increased mentions at tech conferences about building in-house software solutions can be indicative.
Vendor Partnerships: Partnerships with software development firms, especially those known for bespoke solutions, can be a giveaway.
Conclusion: 'Cold' monitoring websites/LinkedIn profiles of 10 companies in each industry, with more than 50-100 employees (or above $5mil revenue), every week or so.
👨💼 Why It Matters?
Understanding this shift can be crucial for B2B businesses, especially in IT and consulting, to tailor their offerings and services. As more companies seek to have software that fits their unique workflows and processes, recognizing this trend early can give service providers (like us) an edge.
💡 Let's discuss: How do you do new prospect research?
#BusinessTransformation #salescoaching #prospectresearch #CustomSoftware
CEO at Espeo Software
8moŁukasz Telesiński is looking for an outstanding #BusinessDevelopment Director to join our Finnish Team. Do you know anyone who might be a good fit? Reach out! 🙌