B2B Market Research – The Four Steps to Successful Business Market Research
B2B marketingHouston research poses a lot of challenge even to the well experienced market researchers. The are four steps that needs to be taken especially if you are looking forward to a successful B2B market research. The steps are as follows:
- Understand your market
- Learn about your business customers
- Telephone your business customers
- Visit your business customers
Understand your market
Having an in-depth understanding of your B2B market and the companies within that market is the first step towards a successful B2B market research. Start by making sure that you are aware of the regulations and customs of the market is a necessary step. This is basically imperative when venturing into a new market. there are lots of websites and blogs written about B2B markets. Also, you can know more about the latest development online.
Make a list of the customers in your market as well as your possible competitors. Don’t just stop at ascertaining the names of the companies within your market, you need to have a list of the names of the company’s executives.
Learn about your business customers
Carrying out a thorough research work about your customers is a major factor to consider in B2B market research. You can start by getting information about your customers from your CRM system, and your sales team. Visit B2B market blogs and website to get information about customers. Make sure you have an extensive knowledge about the key executives at those customers, and the problems that they are likely to encounter.
Telephone your business customers
Calling your business customers on phone is another great way of increasing your B2B marketing. You will be surprised about how much information you can get from just a telephone call to key customer. All you have to do is ask the right questions. When entering a new market never underestimate the impact of a telephone call across your potential customer.
Visit your business customers
Go to your potential customers’ offices, factories, homes (if necessary) if you really want to be successful in the B2B field. Have conversations with their engineers, personnel staffs, manufacturing staffs, plant managers, etc. Surveys and focus groups alone can’t give you the result you need when you visit them in their places of work. When entering a new market, it is advisable not to neglect this fact.