Data insights and trackable measurement are essentials
in today’s marcom world, but you also need the right vantage point.
Your results will be useless, no matter how detailed they are, so make sure you’ve properly identified the voice of the customer. Market research helps you identify this critical piece to define your message and gain a competitive advantage.
Whether entering a new market or launching a new product, it is important to understand the size of the market opportunity and what factors are weighing into the buying decisions of those within the industry. Gaining insight into how potential customers really think, behave and—most importantly—why they react this way is imperative.
B2B businesses, especially the industrial and technology-focused segments, require a different approach to market research because of the complex aspects of the products and services as well as the overall buying cycle.
B2C market research focuses primarily on one customer’s attitude and behavior as it relates to a product. For business-to-business environments, group decision making is the norm, and each player brings their own unique perspective, attitudes, wants and desires to the table.
Also, company size, location and even culture can play into the decision-making process. Market research, which identifies that critical ‘why’, will also help guide you through properly identifying the ‘who’, ‘where’, ‘when’ and ‘how’. (You already have the ‘what’!)
Marketing success comes from knowing how to find the commonality among these individuals, and then prioritizing the wants and needs within the group. Gaining insights into factors influencing the industry provides valuable perspective on what is truly important to the prospect’s business. From there, you can begin to make more direct inroads to your customer.
A good market research plan can be as simple as a customer survey with an overlay of key search terms to help validate the buyer profile, all the way up to key influencer/stakeholder interviews, market segmentation and in-depth competitive analysis. The right program for your business depends on many things:
No one knows your business better than you, but we’ve typicallly found that our 30 years of experience helps us see opportunities a company might be overlooking.
True success comes from the combination of your business expertise with our fresh insight and deep industry knowledge. We immerse ourselves in your business, learning it inside and out, to gain a full understanding of your markets, the buying process and the demographics unique to your end user. An objective perspective can often identify previously unidentified attributes.
This unique vantage point keeps you updated and helps round out your understanding of key buyer personas, which identify the types and characteristics of customers looking to purchase your product.