Market Research » B2B Research Essentials: Achieve Success with Confidence

B2B Research Essentials: Achieve Success with Confidence

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Your business success depends on your customer and marketplace feedback

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B2B Research Insights

Market Awareness

  • Understanding the market awareness and perception of your business by customers and prospects with brand tracking
  • Determining if your customers are familiar with your primary products or services

Opportunities

  • Discovering whether there is a demand for your new product or service
  • Gaining vision into opportunities that are around the corner in your industry
  • Finding out why your customers chose you over a B2B competitor
  • Understanding what keeps clients coming back

Market Analysis

  • Mapping your B2B marketplace, segmenting customer personas, and understanding your competitors
  • Determining how and where customers find you
  • Finding out how important price is to your B2B buyers
  • Finding out how your pricing compares to the competition

Content

  • Developing key topics for your digital-content-marketing strategy to engage buyers and build your authority.
  • Tuning your marketing content to resonate with what buyers are searching for

Brand Perceptions

  • Clearly defining what sets you apart
  • Uncovering your strengths and weaknesses
  • Identifying whether your ideas about your company match what the public thinks about you
  • Measuring Customer Satisfaction and Net Promotor Score for your Brand/Product/Service

Trends

As you can see, strong B2B research methods can help you determine what current challenges exist. You will uncover where your competitive advantages can be highlighted, and new opportunities present in your customer landscape. By using this information, you’ll be able to make smarter business decisions.

Your business success depends on your customer and marketplace feedback. Expand your Advisory Board with Fast, Reliable Answers for Insightful Decisions - OvationMR

B2B Research depends on quality data from OvationMR

 

 

Within primary research, companies will conduct qualitative and/or quantitative research, depending on their particular goals and requirements:

 

Qualitative research is typically conducted with smaller groups and goes into more depth to gather opinions, ideas, and thoughts of those being interviewed. Many businesses may use qualitative research methods such as online focus groups or in-depth-interviews either before or after quantitative research.

 

For example, if a company is looking to fill a particular need with a new product offering for HR Online Recruitment Platforms, it may want to talk with a group of HR Professionals to uncover:

  • what their biggest challenges are in recruitment areas,
  • what tools and information they wished they had, or
  • what problems they cannot seem to solve.

 

Quantitative research would typically follow and the feedback from qual interviews can then be refined into a more quantitative study (conducted via either an online survey or a telephone survey), which can measure things like:

 

  • frequency of need,
  • willingness to pay to meet that need,
  • and preferences on how to learn about new products or services.

 

Concept testing can help you answer big questions like:

 

Is there a demand for your product or service?

 And it can help you fine-tune issues such as pricing, packaging, and communication preferences?

 

When a company embarks on quantitative B2B research, it really wants to gather the hard data or numbers from a sample size that is a statistically significant portion of its target audience. The results are designed to help the business make better decisions about product development, pricing, and distribution, which will lead to greater profits and lower costs in the long run. Quantitative research may be in the form of a phone interview or more typically online surveys. 

Online sampling for Consumer and B2B Research

 

 

You can also consider natural moments of gathering feedback when your business reputation is at stake like before and after a crisis or even more regular daily matters count; such as after a customer calls your service line, after a conflict resolution attempt, or once a purchase is made and received.

 The second issue with timing has to do with the scheduling of the actual research. Practical considerations such as when a budget is available or renewed or how work plans are put in place may dictate beginning a project at the start of a calendar year or a specific quarter.

 Another factor may be when you actually need the research results. For example, if the results are scheduled to be presented at the company’s shareholder meeting or during a specific customer conference, you’ll need to backtrack to determine the timing of the actual research.

 

Consider the busy periods for your particular target audience and avoid scheduling a survey during those times

 

You’ll also want to consider when your sample respondents may be more available to give you time for your study. Consider the busy periods for your particular target audience and avoid scheduling a survey during those times. For example, don’t send accountants surveys during tax season or ask for input from educators during the first week of school or during common exam periods.

IT Decision Makers - OvationMR is B2B

 

Many articles, contractors, and consultants provide a myriad of options for conducting B2B projects. On the one hand, companies with large budgets and complex research projects can hire a full-service research marketing agency to manage all the details from strategy to compiling a comprehensive final report.

 On the opposite end of the spectrum, many do-it-yourself options abound online, which can be executed inexpensively and quickly. However, results may or may not provide you with range of market research reports you are specifically seeking.

 Most businesses choose to conduct B2B research someplace between those two extremes. With all the technology and connectivity available today, both quantitative and qualitative research can often be completed in-house with assistance from online B2B panel providers.

B2B research sampling methods

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 Jim Whaley is CEO of OvationMR and posts frequently on The Standard Ovation and other industry blogs.

OvationMR is a global provider of first-party data for those seeking solutions that require information for informed business decisions.

OvationMR is a leader in delivering insights and reliable results across a variety of industry sectors around the globe consistently for market research professionals and management consultants.

Visit: https://www.ovationmr.com.

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