More than three quarters of tech buyers report that their organizations have increased tech budgets for 2022, according to research by intelligence firm Emissary.
CEOs will continue to have aggressive goals this year, and those goals will largely require technology enablement, the research found.
The research also found that the top motivators for IT budget increases are as follows:
- Enhancing the customer experience;
- Managing security, risk, and privacy;
- Creating efficiencies and cost reduction; and
- Capturing and mining data.
“Today, technology is just as tightly tied to growth and revenue-based initiatives as it is to savings,” the firm said in the report.
But while companies are eager to put technology to work, they face hurdles in deploying and using it effectively, the top five are as follows:
- Increased and evolving security threats;
- Inability to hire and retain talent with the right skills;
- New regulations and requirements (including privacy);
- Organizational inability to adapt to or implement change; and
- Inflexible architectures and a lack of agility in IT environments.
For revenue teams, these challenges also offer enormous opportunity.
“As you engage with tech buyers, drill into the specifics of these pain points for your contacts within your target accounts. Clearly configure and position your solutions to alleviate (or at least not exacerbate) these key difficulties,” Emissary recommended in the report.
Companies that market and sell technology should craft value messaging, case studies, and content that illustrate how benefits relate to these key drivers. But the same old sales approach won’t win the deals, it said further, noting that buyers are looking for vendors to help them buy with a business-oriented, big-picture mindset.
