Current technology trends are important for all organizations. Most midsized companies have these technologies at the top of their lists: Mobile, Analytics, Cloud, and Security. And each year many midsized organizations dedicate more budget for technology as a strategic investment, as Deloitte noted in a recent study:
- Explore the goals and needs of each customer organization
- Understand the industry and the specific business of a midsized company
- Make sure discussions are realistic for the midmarket
- Clarify overall business impact both for outcomes and for organizational situations
- Connect products and services offered to what they will accomplish for a midsized company
The midmarket is not one big blob of companies, but is comprised of multiple diverse tiers from the high end to the low end. Technology vendors must fully understand the customer perspective for each tier when developing products, and then for how they market and sell them — if they want to acquire and retain midsized companies. To further attract and keep midmarket customers, vendors should be easy to work with, technology solutions should provide excellent usability and value, and pricing should be realistic for midsized organizations. Why the Right Technology Investments Matter Midsized organizations have to put serious thought into their technology purchases and are best served by developing strategies around how these purchases and their subsequent use will help improve the performance of the company. Strategies should also focus on how budget cycles are handled. With constant and rapid changes in technology, midsized companies can’t operate solely on an annual basis. Budget cycles are more functional on a semi-annual or quarterly basis, to keep pace with continuous business changes and market volatility. Successful midsized organizations usually focus investments on the technologies and practices that most benefit their customers – larger enterprises could learn a lot from these organizations.