Market research is fundamental to any B2B marketing strategy. The starting point for any marketing strategy is to know your market and how to meet their needs.
So how does market research address this?
Customers– Who are they? What are their business drivers? What issues affect their industry? What legislation/regulations are they governed by? What are their purchasing cycles?
Existing Customers– what are you doing well? Where could you improve your service? Look at your potential customers – where have they experienced excellent value? Who delivered it? What would it take to make them switch suppliers?
Brand– what is your recall? What do people know about your company, or think they know? What is your market position?
Competition– what do they do well? What do they do badly? How does their offering compare to yours? What opportunities are out there?
Through telephone calls, online surveys, customer satisfaction questionnaires and focus groups, market research can effectively create the basis for your company’s entire strategic direction.
We have a team of qualified Market Research professional who work with organisations to devise activity that delivers real value.
Market Research can be extremely complex, but we want to make sure that everyone can understand what questions are trying to be answered, this approach means we don’t get caught up spending valuable time on subjects that won’t be of benefit.
Research can underpin many decisions, saving time and budget that would potentially be spent on pursuing markets that were harder to penetrate, while markets that would deliver more significant ROI are neglected. Organisations are under increased pressure to make sure their Marketing Budgets are used as smartly as possible, our market research allows you to focus your target audiences and potential channels you can use to engage with them. The net result of this is you are marketing to the decision makers who are most likely to engage with your organisation and have a need for you product/service.
Customer Satisfaction surveys are also incredible useful at understanding why your customers are using you and what you need to do to retain them. These findings can help you tailor your marketing messages to those that might not be as obvious but really resonate with your target audiences.
Additionally, we find that B2B organisations are increasingly busy, which can often mean they struggle to regularly touch base with ongoing clients, regular customer satisfaction surveys can lead to increased customer retention and identification of potential fail points before they happen.