How B2B companies can succeed using agile market research
Learn why B2B brands are turning to market research for timely, accurate insights to make big, bold decisions.
There’s a lot of talk about “pivoting” lately; a term that has become synonymous with business agility and the ability to adapt to change. From the shift to virtual workplace solutions to the explosion of remote collaboration tools, the last two years have proven that companies who stay agile, thrive.
Marketers, product, and research teams need timely, accurate insights to make the kind of big, bold decisions that set leading companies apart. That’s why B2B companies are turning to market research.
But, how you get that research can determine whether you’re setting the pace or falling behind. Traditional agencies can be costly, painfully slow, and lack controls. Time-consuming analysis can bog down the process, and manual reporting often results in static presentations that are out of date in no time. If your data is stale, it's tough to get the kind of actionable insights needed to adapt in real time.
Taking research in house also requires careful planning. Companies often don’t invest in the right tools, get weighed down by manual analysis, and may not have the expertise in-house to uncover meaningful insights.
Agile market research that's iterative and continuous
Agile market research takes a page from agile software development; it's an organized way of gathering information that embraces change and adaptability. Research is iterative and conducted continuously—rather than at the end of the project—and is focused on solving business challenges in real-time and at scale.
Instead of lengthy studies, agile market research allows companies to test, iterate, and launch products, concepts, and campaigns faster and more effectively. Research is conducted to inform decisions throughout the product life cycle—from product development to marketing and promotions—without slowing down the process.
The end result? Better, more informed decisions for teams; faster growth and innovation for companies.
Agile research is a great alternative to costly reports and time-consuming custom research. It’s fast, affordable, effective, and possibly most importantly, available and accessible for all teams and stakeholders.
4 ways market research can fuel B2B innovation and growth
- Develop products that delight
Keeping products fresh and innovative is how leading companies delight their customers. From understanding product usage, to feature importance and choosing the right creative execution, every element of the product development process matters, and trade offs are inevitable. Today’s agile solutions allow B2B companies to insert market research at any stage of the product development process without derailing the schedule or inserting cycles.
2. Build a beloved brand
B2B brand performance has gotten a lot of attention lately. From security breaches to inclusive hiring practices and privacy policies; some of the largest B2B tech companies have faced significant scrutiny around brand reputation. New agile solutions, like brand tracking, can help B2B companies monitor brand health, and get continuous, up-to-the minute insights on how your brand is performing.
3. Navigate evolving market trends
Staying ahead of industry trends means understanding expansion opportunities and identifying where competitive offerings might be vulnerable to a fast-moving sales effort. New market research solutions, like industry tracking, can help your company gain insights to stay ahead of the market, the competition, and shifting trends.
4. Supercharge your content marketing
Good content is a powerful way to elevate a brand, engage with customers, and generate leads. Infusing your content with original market research can help your company break through the noise. Using tools like a B2B audience panel can help you collect data and stats that will help you connect with B2B marketers and decision makers.
Getting started with market research
If you're a marketer or insights pro targeting a B2B audience, there are so many ways market research can help you improve your marketing efforts and elevate your brand. I'd recommend reading our guide on Market Research Strategies for B2B Success to help you make better, more informed decisions with agile research.
Gilda Raczkowsi is a principal content strategist at Momentive.