The brand market is made up of players of very different sizes. As a general rule, the best-known business units are those that offer their products to ordinary people. Examples of these sectors are retail and restaurants. However, there is another segment that also demands the services of market research agencies. We refer to business-to-business. Although it is a sector with defined requirements, it is well worth exploring.
Companies that serve businesses can run the risk of believing that day-to-day experience is enough to understand their circumstances. This way, they make decisions based on assessments that may be far from reality. Assuming what their own consumers are looking for and want feedback from is a risk that, once detected, can rarely be reversed. For this reason, this week we list four topics in which market research contributes to companies in this sector.
Desktop study. Thematic research on a current situation can be decisive in designing profitable and realistic business plans. This task may seem simple, but it involves a series of skills and abilities. For example, it requires analysts dedicated to this method to have experience in the desired sector, know how to discard low-quality information sources, and be able to synthesize the enormous amount of data and information available.
Census. Sometimes territorial expansion or restructuring projects lack a current context of the environment. Exhaustive searches for business units of a specific brand or of direct or indirect competitors often appear as reactive imperatives more often than desired. In any case, it will be necessary to recruit a field and desk team to design, execute, and analyze the findings obtained in the field. It is suggested that this task be made an ongoing process; otherwise, higher costs will be incurred due to ad hoc reviews.
In-depth interview. A particular feature of this segment is that the companies that comprise it deal with clients at the mid- to high-level management or operational levels. When it comes to contacting these types of consumers, some extraordinary circumstances become evident. For example, accessing respondents in these categories is beyond the reach of traditional market recruiters. Furthermore, analysts with the expertise to work with these individuals are needed.
Satisfaction. Evaluating consumer satisfaction with your product or service is crucial to maintaining their loyalty. In an increasingly competitive world, where price can be an attractive incentive to try alternatives, measuring satisfaction takes on greater urgency and value. This reality is no exception in business-to-business (B2B). Whether through CATI-type interviews or Mystery Shoppers, you must develop these studies and implement the changes your market demands.
Habit can be a reliable ally, but it can ultimately prove to be an enemy at home. Designing customer and competitor knowledge protocols and allocating budgets in these areas can be among the most productive activities if their implementation is subject to clearly identified needs and assertive decision-making. The resources allocated to this area are often an overlooked investment. Avoid this with the active collaboration of market analysts.
At Acertiva, we offer solutions for B2B companies within our extensive areas of expertise. We have a track record of over two decades conducting market research in LATAM. We have a team of analysts and strategic partners ready to address your concerns and needs by deepening your knowledge of people and brands. We offer your first fifteen-minute consultation free of charge. This contact could be the beginning of your next success story.
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