Utilizing Agile Market Research for enhanced business growth
B2B organisations use market research: while there is some awareness of “Agile Market Research” and “B2B research” as separate concepts, very few service providers provide a great combination of the two. HBG is one of those companies that provide a combination of both services. The endeavour to continuously update the data in all phases of the research process is what gives their working style “agility.” As an illustration, HBG’s research solutions provides ongoing, automated profiling, strict quality controls, dynamic community participation, and reward management. Traditional market research has always needed a lot of time and money because it involves a lot of human resources in its understanding, planning, and execution. From programming of surveys to creation & presentation of reports, several teams are involved in each task.
Unlike the B2C market, B2B product, service, and process problems can take longer to resolve than business-to-consumer problems. When developing a B2B product or service, customer input arrives towards the end of the development cycle. It is tough to find latent opportunities that might occur during the development process. Instead, by adopting an agile mindset like HBG, B2B companies can make early adjustments to their product or service concepts.
The foundation of agile market research is the idea of making data flexible to iterative modification. Agile market research, which is carried out iteratively and continually, can assist in quickly resolving operational problems. HBG’s domain knowledge adds value & helps in facilitating insight and strategy development exercises. Without disrupting ongoing business processes, it enables B2B companies to discover improvements at every step of product and service growth.
How can B2B businesses derive value from agile research?
A B2B buyer’s journey is made up of a number of non-sequential actions, such as problem identification, solution exploration, special requirements briefing for vendors, supplier selection, claim verification, and finally product or service purchase. As a market research company, HBG understands the how, why, and when of the B2B market journey so that it can help brands empower customers.
For this, HBG’s awareness of client profiles and their requirements, makes it stand out of the competition and provide a pertinent messaging to new customers which’ll boost the brand & product acceptance or awareness.
Creation of ideal customers
Early in the buying process, buyers are attempting to determine which B2B brands are most likely to meet their needs. B2B customers use search engines to look for solutions online. B2B marketers can better understand articulated pain areas, information gaps being looked for, businesses being investigated by conducting keyword research on Google searches.
Gathering insights on the competition
B2B clients actively discuss B2B products, services, and brands on digital channels, just like everyone else. Reviews and social media posts are becoming more common sources of real-time data. This provides B2B marketers with a lot of information about both their own brand and the competition.
Customer needs and requirements
B2B marketers can identify customers’ difficulties and pain points by using a mixed or multi-method strategy. Focused online B2B panels for professionals, surveys, and review websites could be used too.
What makes for an agile approach in B2B research?
It’s very important to recognise and acknowledge that agile B2B market research is not a revolutionary, first-of-its-kind practise that produces immediate results. Agility is a layer that has been added to the conventional B2B research process. Respondent identification, data gathering, organisation, analysis, and insight development are all components of a research process. B2B companies can utilise a variety of techniques to inject agility into each stage of this common research process. B2B firms should look for software-supported market research solutions that assist in the creation of high-impact insights quickly while planning agile research.
If you are someone who is targeting the B2B audience, then you can transform your B2B market research measures by introducing an agile approach. HBG is one of the top-rated market research and data collection firms in India. The B2B purchasing cycle is complex, and there are numerous considerations when choosing a brand. B2B marketers may create communications that are more effectively targeted and capture the attention of the audience. The key to determining the success of a B2B firm is finding a research partner like HBG, an expert service provider offering qualitative or quantitative or mixed mode data collection techniques, survey programming, reporting, analytics & more.