Do you want to speak to the technical buyers, economic buyers, decision-makers, end users or other influencers? When we start a new B2B project, we will usually begin by asking questions along these lines. This is because Business-to-Business (B2B) markets are dynamic, complex ecosystems where each role can have a different perspective on a product or service. B2B market research is a powerful tool that helps businesses understand their customers’ journeys so that they can stay agile and respond to changing market demands.
In this post, we will outline some key considerations to take to maximise success in your next B2B research project.
At FieldworkHub, we spend time understanding the ecosystem our clients are operating in so that we can provide expert advice on who to target and the relevant screening criteria. Purchasing decisions in large corporations often involve many stakeholders with priorities that may conflict with each other (e.g. in the trade-offs between cost, capability and ease of use) so you may therefore obtain very different opinions depending on who you speak to. By contrast in small businesses, the decision maker is typically an important user as well so they can often speak about multiple aspects of the product or service.
Once the targets are clear, we can leverage our experience to support our clients in developing appropriate screening criteria to get the desired respondents. We focus on roles (what people do on a day-to-day basis) rather than titles that can vary from one organisation to the next.
B2B respondents are busy professionals, so flexibility is vital. Scheduling online interviews via platforms like Zoom and Microsoft Teams saves time and broadens the respondent options. At FieldworkHub, we work with our clients to create accommodating interview schedules and account for potential rescheduling. For example, a surgeon may need to reschedule at the last second if they are suddenly called into surgery or it might be difficult to reach accountants at the end of a tax year.
B2B respondents are usually higher-earning professionals, who have busy lives but are in demand for market research projects, which means that they may be reluctant to offer their scarce time without adequate financial compensation. For example, IT Decision Makers are very sought after for market research participation. However, at FieldworkHub we also recognise that our clients’ budgets need to be used most effectively. We know the current compensation rates across industries and seniorities so we can advise our clients accordingly to strike a balance between value for money and ensuring we can motivate the appropriate participants to share valuable insights.
Choosing the right experts in B2B market research is not just about interviewing professionals. It is about forging a strategic partnership that can revolutionise your business. Armed with comprehensive insights and actionable recommendations, your business can navigate the complex B2B landscape with confidence and make decisions that shape its success in the long run.