Blog

Smart Strategies for Targeting the Fortune 1000

May 6, 2016
Category: Blog Post

Want to add Fortune 1000 logos to your roster of customers? Of course you do. Among the Fortune ranks, strong brands and huge revenues suggest big budgets and lots of opportunity. However, targeting the largest 1000 companies in America by revenue presents unique challenges. Tech Purchasing in the Fortune 1000

BAO recently conducted a research study of 208 Fortune 1000 companies to understand the landscape for current budgeted initiatives, new technology adoption and shadow IT, in this key enterprise market segment. We’ve published our findings in the latest BAO Trend Report: Fortune 1000

At the highest level, we found:

  • 52% of Fortune 1000 companies surveyed currently have from one to four budgeted IT initiatives.
  • 7% currently have more than five budgeted IT projects.
  • 41% have zero budgeted initiatives.

But if you are familiar with our trend reports, you know that high-level stats don’t tell the whole story. You need to dig into the details to get valuable insight that can help increase the success of your sales and marketing strategies.

For example, details about who’s in the market for specific technology solutions differs by industry. The transportation/utilities vertical has the highest rate of overall buying activity at 73%. And the sector with the second lowest rate of budgeted initiatives is wholesale/retail at 55%. But there is good news for those of you targeting retail – if you know what they are buying (it turns out that wholesale/retail companies in the Fortune 1000 are buying more cloud computing than any other type of solution).

Other trends are equally enlightening. For example, we all know that big data is hot. But exactly what are Fortune 1000 companies using big data for? Again, this differs by industry. More agriculture/mining companies are using big data for business/operational analytics than any other vertical (53% compared to 27-38% for the other industries). While wholesale/retail enterprises are focusing big data use on customer analytics at a much higher rate (45% vs. 21-35%).

The BAO Fortune 1000 Trend Report is chock full of intelligence about this coveted market, including:

  • Active buying cycles by industry
  • IT budgets, budget change, and budgeted initiatives
  • Cloud computing adoption and trends
  • Shadow IT
  • Storage environments and trends
  • Big data utilization, use cases, and trends
  • Geographic trends

Get the report to learn about current technology and buying trends so you can build smart sales and marketing strategies. We also have an infographic for a quick at-a-glance overview.

Download the BAO Fortune 1000 Trend Report.

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