B2B market research provides valuable insight for companies wanting to better understand where their successes and weaknesses are in industries where there are competitive brands, products, or services. B2B market research is an ideal way to test theories, observe trends, or gain insight into where gaps exist.
Before hiring a nationwide qualitative market research company to conduct your B2B study, make sure it has experience in managing and leading B2B studies. Conducting B2B research is different than B2C research. Some of the challenges with B2B studies include too small of a sample size; recruitment challenges; and not accessing the right decision-makers. Let’s take a look at how a qualitative market consultant can manage these challenges so that the data collected are relevant and useful.
Not having a large enough sample size for your B2B study will bias the end results. Having too small a sample size for your B2B study, will muddy the outcomes of observed trends or hypothesis testing in your study. B2B studies tend to have smaller populations to choose from, as compared to B2C studies. An easy way to overcome this problem is to hire a nationwide market research recruiter who has access to a broader audience.
B2B studies are notorious for recruits dropping out or not being available at the last minute, thus delaying the study moving forward. It’s understandable when you consider that these recruits are busy and have obligations that are more important than participating in a study.
One way to overcome this challenge is to allow more time for the study. It might take twice as long to conduct a B2B study as it does a B2C study. In addition to allowing more time, another way to keep a B2B study moving along is to work with a recruiter who is experienced in B2B recruitment and management. A recruitment agency is better prepared to manage last minute drop-outs or schedule conflicts, and often have back-up recruits lined up so the study can stay on track.
Regardless of the methodology being used in a B2B market research study, reaching the right decision-makers can be a challenge. Getting C-suite executives to commit to participate in market research is notoriously challenging, and yet without their participation in B2B studies, it’s hard to deliver a market study that will be useful for strategic planning.
The easiest way to reach this audience for market research is to work with professional recruiters who have a proven track record in B2B market research recruitment. Such recruiting companies are networked into professional organizations and have resources to not only reach C-suite executives, but they also know what incentives will best work for this cohort.
Delivering a successful B2B market study is more likely to happen when a market research recruiting firm is involved. Given the challenges posed with B2B studies, it’s best to start out with the right team that is experienced in conducting B2B recruitment and studies. Such studies provide critical insights and are invaluable for companies looking to stay at the top of their industries. Getting the most out of your efforts requires partnering with market research teams who are experienced in B2B studies.