We’re exposing the things you can’t see that tell marketing and sales teams who is looking to buy from you, or your competitors right now. What’s more, we’re able to dissect that data and understand which vendors are favoured by SMBs, Mid-Markets and Enterprises, and so on.
We narrowed down the data so that we never looked at intent signals we found from Interns, low level employees or irrelevant job titles. We’re talking about decision maker, champions and relevant buyers showing intent to buy from these vendors. The signals you cannot see. Not people coming to your website, people looking at content or engaging with competitors online. People having engagements with these competitors in real time that show us their intent to buy.
This is what we found…(See below for the full Infographic)
What are we looking at
Using our own proprietary system, we’ve found out which Product Analysis vendor owns the market in general. We then broke down what we found by company size, identifying if Enterprises and SMBs showed intent to buy the same vendors, or different ones. Lastly, we identified if the C level, management, Directors, VPs or other seniority levels showed the most intent to buy. Across all of these diagrams below, you will see the same top 5 vendors who appeared every time we filtered the raw data.
Who owns the general market?
Clearly Segment are leading the market on a general view. They’re followed by Mixpanel and Amplitude, closely behind are Heap and mParticle complete the list. So out of all the intent signals towards these vendors we found using our platform, nearly 40% of the intent signals pointed towards Segment.
The important thing to remember when looking at this data is, there will always be industries with one dominant company who are bigger and sometimes better than the competition. One day, we will run an analysis on CRM systems, or Marketing Automation systems and understand if companies like Hubspot or Salesforce have such dominance as they are perceived to have in their market. That is the interesting factor in this data, not everything is as it seems.
Company size intent
Before we breakdown which vendors are being looked at by SMBs and the other company sizes, we spotted that a lot of the intent signals we found came from buyers in SMBs. More in fact, than in Enterprises and Mid-Market companies put together.
That is interesting to us, because we often see a large number of intent signals from Enterprise companies compared to SMBs. Naturally, there are more people working in an Enterprise, there are more people involved in the decision making process, or the buying committee.
So marketing and sales teams in Product Analysis vendors. This is key for you, are you focusing on the Mid-Market heavily? Unless you are owning that niche with hyper-targeted messaging and pricing/services, there is a massive 83.4% of the market out there that are also looking at tools like you.
Who owns the SMB market?
Segment are particularly strong in the SMB market. It’s no surprise given what we saw in the general market analysis, Segment came out on top and as we just saw, the SMB market plays a big part in this data set. So with Segment owning 40% of the SMB market, Mixpanel come in second. Heap, Amplitude and mParticle come in behind, all relatively close in their popularity.
With this information, pay close attention to how Segment are seen in the other markets. With a lot of the intent signals we collected coming from the SMB market which they clearly own, it will be interesting to see how they perform in other company sizes.
Who owns the Mid-Market?
Heap, Amplitude and mParticle all retain a similar share of the market. Only mParticle gained 2.1% vs the previous chart, Mixpanel gained 2.6% vs the previous chart and Amplitude gained 0.2% vs the previous chart. Segment lose 3.1% of their share, not huge but this is significant.
It is significant because their closest competitor as shown in this data is Mixpanel, who gained the highest share of the market compared to what they had in the SMB market. Mixpanel gained almost as much as Segment lost. This would suggest in the Enterprise space, Mixpanel will be even closer or if not, ahead of Segment.
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Who owns the Enterprise market?
mParticle grow to the highest share of the market they’ve owned yet at 8.3%, Amplitude own the lowest share of this market compared to the previous markets. The biggest change we can see here is how much of the market Mixpanel gain and Segment lose. Mixpanel gain 3.2% and Segment lose nearly as much, 2.9% down from the previous chart.
To draw on the previous example of how Hubspot are a dominant Marketing Automation platform, it is clear Segment are widely known throughout the whole market. Just the same as how Hubspot is still bought and used by Enterprises, there are different solutions that cater for Enterprises specifically which steal some of the market share.
Lastly, intent signals by seniority
Filtering out any low-level employees and irrelevant buyers for these vendors, we found that the C level and the management level staff at the companies looking at Product Analysis vendors show the most intent to buy online.
What we see across our customers in the B2B space is that the Champions in a sale are usually management level or lower, these guys will show a lot of intent to buy compared to the other seniority levels. Naturally these are the people who are going to be using or most impacted by a change of tooling or something similar. That’s very common unless the tools we are looking at specifically cater for C level or VP executives, for example.
The surprise here compared to our customers and their data is how much intent we saw from the C level. In our experience, the C level usually come in with around 15% of the overall intent signals shown by a company that we can collect. In this instance, our hypothesis is that the C level are looking at the bottom line of the business. With their intent shown towards buying a Product Analysis vendor, we can say that using these vendors would be a very, very important part of the business and it’s services to clients which should concern the leadership team at the highest tier. Therefore in this situation, it’s not out of the ordinary to see the C level so prominent.
Want to know what your industry truly looks like? Send us an email or get some time on our calendar to better understand your buyers, so you can position yourself and your company correctly in front of the right buyers at the right time. Speak soon!