How to use the technology profile on Companies and Markets for your success

Only a few weeks ago we presented the free public profiles on the platform Companies and Markets: clear and informative company dossiers at a click – including simple graphical presentations. Part of this free offer are also the technology profiles available for many companies. These illustrate how often certain technologies are mentioned in connection with a company. For this purpose, an algorithm evaluates countless online sources – including, for example, concrete job advertisements – and weights them based on the frequency with which the various technologies can be assigned to the respective company.

technology profile Companies and Markets

With a little industry knowledge, these data can be used to draw excellent conclusions about the technological status of the company concerned, its development and future viability. Which topics that will have a decisive influence on the future of the respective industry already play an important role for this company? How much attention does this topic receive compared to other companies? And how does this change over time? If you evaluate the daily updated data with a trace of creativity, you can gain amazing insights into the structure of your customers or competitors. A few examples:

Identify sales opportunities

technology profile Zalando
technology profile Zalando

Companies and Markets technology profile helps you identify opportunities for your sales. For example, if your company offers innovative software, it is very valuable to know which systems are currently in use with a potential customer. If, for example, your solution has a convenient interface to software that is used throughout the company, you will immediately have an excellent sales argument. However, if you are able to observe the daily updated data over time and discover that a competitor seems to have convinced this customer straight away, you better concentrate your resources on more promising leads. But even for a machine builder, it can be a valuable piece of information that a certain production company seems to be modernizing its production. In short: With the technology profile you get comprehensive insights at a glance, which at best could have been obtained from a human discussion partner on the customer side after many detailed discussions.

Assess business risks

It is probably not worth it for you to rely on a customer or supplier who misses the essential trends in his industry. One way to anticipate this is to use the technology profile of Companies and Markets to see how future-proof your potential business partners are. Especially in the case of medium-sized companies, about which comparatively little is publicly published, you will quickly receive a lot of enlightening data. A bank’s corporate client advisor, for example, uses this information to support a planned investment. Or the buyer of a manufacturer who has to choose between different suppliers. Reduce the risk of default by working with promising business partners.

Rate competitors

Example of technology profile
Technology profile Heidelberger Druckmaschinen AG

The better you know your competitors, the better you can sharpen your own profile. Keep an eye on developments at other companies in your industry and draw the necessary conclusions for your own strategic orientation. What trends does the technological pioneer in your industry focus on? What does the market leader react to more slowly than you? And with what technological visions do your competitors advertise for highly competitive specialists? You can find the answer in the technology profile on Companies and Markets. If you evaluate the data under the right premises.

Exploring job perspectives

Talking about skilled workers: Not only for companies, but also for skilled workers willing to change jobs or career starters, the free technology profiles provide useful insights. Of course, they are also interested in an employer who works with state-of-the-art technologies. Potential employees in technology-related jobs in particular are able to see from this the significance that technology has for the potential employer. An interesting decision-making aid in the career market.

Companies and Markets offers a lot of data for a fast but meaningful preparation of conversations. The technology profiles are among the most powerful tools on the platform – and can even be called up free of charge. Those who want to delve deeper into the research of the respective sources from which the data originates can do so with an optional premium account. Use the power of the technology profiles for your success now!

Here you can find an exemplary technology profile on companies-and-markets.com.

Different types of personalities and how to spot them

When selling a product or service, you should better understand the type of customer how he or she is thinking. Since people are different, there can be no universal patent recipe for it. However, there are some interesting concepts of categorizing potential customers more quickly and to respond effectively to their specific motivation. A relatively well-known and popular concept is the 4-colour model by Frank M. Scheelen. It distinguishes four different personality types: red, blue, yellow and green people. We have briefly summarised for you what distinguishes the individual types and how you should best encounter them in order to convince them of the advantages of being your customers. Best of all, there are new ways of doing the work automatically. But let’s start with the four different types of customers.

Customer types based on the 4-colour model
Customer types based on the 4-colour model by Frank M. Scheelen (in German)

The blue customer

Blue customers are the classic rational thinkers. They are very disciplined, organized and reflective – and they make their decisions. This means that a blue customer expects from you the most comprehensive information possible about your product or service in order to carefully weigh up its advantages and disadvantages. For him, facts stand clearly above his personal relationship with you. Provide this type of customer with sufficient details and give him enough time to think them through. But be careful: blue customers like to try to postpone decisions in order to weigh them over and over again. So work actively towards a decision without exerting too much pressure too quickly.

The green customer

Even customers of the green type need time to process their arguments. However, this is not so much due to a high need for analysis, but rather because they tend to be risk averse. Although green customers are friendly, cautious and largely reliable in their statements, they prefer to stick to the tried and tested and the familiar. Accordingly, it is difficult for you to convince them of a new product or service provider. Listen attentively and find out what risk your counterpart is trying to avoid – in order to then make targeted arguments that give him more security in this respect. Since this type of customer places a lot of value on the opinions of others due to his own decision-making difficulties, it is also worthwhile to find out who is a potential co-decision-maker – in order to win them over to your offer as well.

The yellow customer

The yellow customer type is completely different. He loves the new, the extraordinary and can quickly be inspired by an idea. With his creative nature, he likes to take it up and is also able to infect others with his optimism. If you meet yellow customers with the same openness and cordiality, you will quickly find a common level. But this enthusiasm is both a blessing and a curse. Because it also makes it very easy to distract a yellow customer. Despite initial euphoria, many projects are not implemented later. So it’s worth it for you to invest a little time and build up a trustworthy relationship with this customer. Because the relationship level is very important for him. He also likes to talk about private matters. Conflicts are not his thing. Use your good relationship to keep the enthusiasm of your yellow customer alive for a long time and finally get your deal.

Der red customer

On the relationship level, you will in turn reach the red customer less. In its dominant, controlling way, this type of customer will try to consciously provoke and challenge you. Demonstrate determination in this case and stand up to him confidently – but give him the satisfaction of feeling a little superior to you. If you manage this balancing act, he will give you the chance to convince him of your product. Because the red customer type is quite open-minded towards something new – as long as you can sufficiently demonstrate what positive results he can expect from it. Do not hold him up unnecessarily with personalities or exaggerated friendliness, but argue clearly and goal-oriented. If you then find a clear and precise answer to each of his questions, it can also suddenly go very quickly with the conclusion.

Please note: Colour changer

However, it is not enough to categorize your counterpart according to customer types and then always accept this scheme as given in the future. Under stress the type of your customer can suddenly turn into the exact opposite. The blue becomes yellow, the green red and vice versa. In every conversation situation, pay attention to the essential signals of your customer again and adjust to them individually.

This example shows that concepts such as Scheelen’s 4-colour model can of course only ever depict the complexity of human personalities and decision-making processes in a highly simplified form. Obviously, the situation in which you meet your potential customer also plays a role. However, it can be a useful orientation aid when it comes to quickly assessing the behaviour of your counterpart and selecting your very basic discussion strategy. A talented salesperson’s tool is to refine these individually with the right incentives.

Example: Zalando and Deutsche Bank

At Implisense, we started in 2018 to automatically classify public marketing assets such as tweets, press releases or job advertisements of millions of companies to find out dominant personality types according to the 4-color model. In the following, we would like to give you two examples of well-known companies from Germany that are among the market leaders in their segment. The numbers in the sections indicate the absolute number of recognized 4-color keywords for the respective companies.

Datenanalyse der angesprochenen Persönlichkeiten

A direct comparison of the two graphs immediately shows that the red and blue portions clearly dominate at Deutsche Bank. At Zalando it is the green and yellow shares. Two market leaders, but very different models. The companies consciously – or unconsciously – communicate certain ideas about themselves and the customers they want to reach with their communication.

Currently various marketing departments in Germany evaluate these analyses in order to monitor their own communication with regard to the communication of competitors. Furthermore, these continuously ascertainable findings via API should also be used to consider 1:1 communication, e.g. in mailings or account based marketing. In this way, the concept devised by Frank M. Scheelen may help more people to address the issue correctly and be better understood.

Tip: Note the customer type of your contact person in your CRM system. In the future, you will already know at the beginning of your conversation which signals you should pay more attention to. Automated classifications can also be automatically imported into your CRM with the Implisense API on a daily basis.  

 

DIGITAL2018: The Summit of ideas on digitization

From 7th to 8th November 2018, the Cologne Exhibition Grounds were dedicated to the major task of digitisation with a special focus on German SMEs.

An event with the aim of speeding up, networking, explaining and helping to shape the future

The event, which was organized by Deutsche Telekom for the first time in this format and size in Cologne, was intended to motivate, network and accelerate. The fact that such a big topic as digitization leads to a successful event is not self-evident. Digitization is a phenomenon that permeates every corner of the economy and does not stop there. The many facets of digitization could easily lead to visitors being overwhelmed. But that didn’t happen, thanks to a smart trade fair design.

presentation at DIGITAL2018.
presentation at DIGITAL2018.

The two days were structured with constant keynote speeches in various areas in order to attract visitors to the fair on a variety of topics and with a wide range of demands. CEOs such as Tim Höttges, Apple Co-Founder Steve Woszniak or Sigmar Gabriel from a political point of view reported on digitisation on the global stage. Major players such as Huawei and Samsung showed upcoming innovations such as foldable displays in end devices. Many exhibits demonstrated Internet of Things solutions, even there, one would not expect them immediately, e.g. for monitoring the health of beehives. The TU Munich showed prototypes of a special Hyperloop Train, Fraunhofer demonstrated a simple robot programming as an advanced training program.

Start-Up-Square: A space for digital “future creators” at DIGITAL2018

About 20 startups from the Telekom TechBoost program presented their mostly data-driven innovations, for example in the area of mobility data, biological data or company data. Implisense exhibited in this area with its own stand at DIGITAL18 to present our latest product “Implisense Reports” for the first time.

product presentation "Implisense Reports"
product presentation “Implisense Reports”

The Implisense Reports have been developed to enable small or large companies with a CRM system to receive up-to-date news and analytical insights on the business model for all existing customers. Since the reports can also be displayed as web pages within a CRM, time-consuming integrations or data reconciliation are not necessary.

After two days at the trade fair, we will take a deep breath in Berlin, reflect on the positive feedback and look forward to seeing the successful DIGITAL2018 format again next year.

 

Further information about the DIGITAL2018.

We will be happy to answer your questions about the new “Implisense Reports” by e-mail.

Pictures by Dr. Andreas Schäfer

From A for Ampla to W for Wonderware – Digitization trends in mechanical engineering

The digitisation of the German economy is already in full swing and will cover more and more areas with an ever-increasing intensity in the near future. In order for German companies to remain competitive, it is already important today not to oversleep trends. These include big data, cloud computing and the Internet of Things. Within the ECEP project, Implisense is currently developing a monitoring tool for the detection of trends in user-defined business segments. As part of this development, Implisense has investigated the degree of digitisation of mechanical engineering, one of Germany’s key industries.

Large differences between industries

In order to put the digitisation of German mechanical engineering into context, Implisense first calculated the digitisation of the entire German company landscape using its data mining approach. The mechanical engineering sector (C28) occupies only a central position in the upper mid-range, with a share of 53 percent of companies that have sufficient evidence of the digitization of their business models. Unsurprisingly, top digitisation leaders are companies from the IT sector, especially information service providers (J63) and the provision of services in information technology (J62). The insurance industry (K65) is also well positioned in the digital arena, due to the increasing use of Big Data technologies. The leading sector in the manufacturing sector is the printing, audio, video and data media (C18) and electrical engineering (C26 and C27).  More surprisingly, the pharmaceutical industry (C21) is also experiencing a higher degree of digitization than mechanical engineering.

branchen_schnecke

How do you actually recognize digitization in mechanical engineering?

Digitisation is a very abstract concept. First of all, the question arises how digitization in mechanical engineering can be defined, recognized and measured by means of our data mining process.

Implisense works with statistical models of terms that correlate particularly strongly with an over-theme. These models are calculated implicitly by our algorithm, which calculates the significant terms on the basis of a group of companies using, for example, a leading technology of digitization. Using an iterative approach, more and more digitizing features can be identified and included in the model.  In this way, our system can define and recognize abstract topics such as digitization without prior knowledge and without time-consuming manual preparation. The final model for the recognition of digitization in mechanical engineering (see Dendogram) includes, among other things, the following:

  • Characteristics that provide information on accompanying processes of the digitization of machine builders, in particular Automation and Robotization
  • Characteristics or indicators for software and data infrastructure, such as the focus on Big Data Analytics, naming data warehousing, the likely use of APIs.
  • Leading-edge technologies and leading brands in digitization, such as Supervisory control and data acquisition (SCADA), a technology for the digital monitoring and control of technical processes, or Eplan, an engineering software provider, Wonderware, a company that provides SCADA and MES (Manufacturing Execution System) software, and PCS7, a Distributed Control System (DCS) from Siemens for “end-to-end automation”.  
  • the digitization of important business functions. The digitization of distribution channels (indicators: e-commerce, social media, community, chat), the optimization of the user experience (topic indicators: apps and embedded) as well as data-driven corporate management (indicators for business intelligence and web analytics) seem to play a particularly important role.

iot

Pump builder as digitization leader?

With this model we were able to identify 8,673 companies out of 16,300 machine builders known to us, in which a sufficient number of these indicators can be found. (Firms with less than 500,000 Euro turnover per year were not included).

In a differentiated examination of the digitisation of sub-sectors of mechanical engineering, the manufacture of pumps and compressors (C28.13) and the manufacture of office machines (C28.23) stand out particularly well. While the strong proximity of computer and printer manufacturers to digitization is hardly surprising, this result makes pump manufacturers pay attention. In fact, however, the pump industry is particularly characterized by an increasing number of computer-aided networking through embedded hardware/software systems. Not only integrated systems make this industry innovative, but also the development and distribution of apps to improve customer service. A prime example is Jung Pumpen GmbH, which offers four apps at the same time, including support for product purchases and as a maintenance tool for the acquired pumps.

digitaliserung_maschinenbau

Ruhr area as a digital developing country

The high proportion of digitizing companies in the Dresden area is remarkable. This could be due to the focus on microelectronics there, as well as to the innovative impetus from the flourishing start-up scene there. It is a small defeat for Berlin as the established IT start-up capital of Germany, which is not doing well in this analysis. As expected, the rest of eastern Germany also appears to be little digitized in the mechanical engineering sector.

The companies from Bavaria, Baden-Württemberg and Hesse, the engineering strongholds of our republic, are on average well prepared for future developments in the digital sector.

 

verteilung_digitalisierung_maschinenbau

The low significance of this topic in the Ruhr area is remarkable, especially as a region with a traditionally strong connection to mechanical engineering. There could be a clear need for further action in this area in the future and there could be a great potential for improvement in digitization.

 

Implisense Smart Properties

We are continually developing our algorithms to help our customers build and maintain their business relationships. In June 2014 we reached a new milestone and are pleased to present the Implisense Smart Properties.

Implisense Smart Properties help you to segment existing and potential new customers more precisely. Up to now, it has been customary to use features such as size, industry sector and region to segment B2B customers. However, for many questions, these characteristics are not sufficiently detailed and lead to scattering losses.

Here is a practical example:

A marketing director for business training courses and seminars wants to find leads for the new seminar offer in the area of quality management. The question is how to select from many potential companies of a certain size and industry each one that has an affinity to the topic of further education and quality management. With the help of classical searches in databases, these characteristics are usually untraceable or obsolete. Searching the websites is not possible due to lack of time.

 

Implisense Smart Properties
Beispiel einer Firma mit Eigenschaften für die Segmentierung

 

In the Implisense Sales Intelligence, the Marketing Director can now receive suggestions for leads that are similar to those of existing customers. This helps to get hits from neighbouring industries, for example. With the help of the Implisense Smart Properties it is now possible to display a so-called radar chart for each proposed company, which shows how strongly the respective company focuses on quality, costs or innovation. These companies tell the public that they rely on quality and learning in their products and services. The Marketing Director selects these leads to inspire the marketing manager with enthusiasm for the new offer.

And to make it even easier for you to address them, Sales Intelligence automatically calculates the average radar chart of companies from the rest of the hit list and displays it with a gray background underneath the blue colored current radar chart. This allows you to see immediately which particularities the selected company has in relation to the peer group, i. e. whether it emphasizes certain aspects more strongly than the other providers. This is illustrated in the following figure from the Sales Intelligence application. In this case, the selected company differs greatly from the rest of the hit list in the area of learning and reliability.

 

Implisense Smart Properties in der Sales Intelligence
Implisense Smart Properties in der Sales Intelligence

 

How is such a thing created? The Implisense Smart Properties are generated from online content using Big Data Analytics. For this purpose, previously trained topic models (Wikipedia link) are used for all target properties, which are automatically maintained by the Implisense system and thus prevent new words for certain topics from not being recognized. Topic-models (Wikipedia-Link) are used for all target properties, which are automatically maintained by the Implisense system and thus prevent new words for certain topics from not being recognized. Topic models can now be used to calculate mathematical distances to selected online content of a company and use them for new segmentation and insight into the customer base.