If your business markets products or services in the business-to-business (B2B) space, then it is important to understand both the needs and pain points of these business customers. Yet, it's important to understand that businesses as consumers is quite different than individual consumers. Because of these differences, the approach to B2B surveys takes on a slightly altered approach.
Implemented as a survey tool, consumer research surveys targets a random, yet balanced sample of population, often designated by a specific geographic area or demographic, such as age, education level, gender, or household income.
On the other hand, B2B market research conducted using online survey software typically targets respondents based upon business factors, such as job title, size of employer, and influences on purchase decision, to name a few. For example, an accounting software firm might conduct a business-to-business survey targeting small business owners with 25 to 50 employees who have the final say on making purchasing decision for accounting software for their small business. In this way B2B surveys can target a smaller number of the total respondents than some widespread consumer surveys.
B2B Survey Uses
Business-to-business market research can be a powerful tool for practically any organization, regardless of size or industry. A B2B survey can help business leaders gather market intelligence concerning competitors and trends, as well as gauge interest in new service or product offerings. Business-to-business surveys can also be incredibly helpful in generating new sales leads or opportunities.
Designed strategically through survey software, B2B market research surveys can not only help provide in-depth information on market segmentation, but also help increase business customer retention.
Who can B2B surveys target? Business-to-business surveys can target existing business clients, prospective business clients, or even random companies. They can also target many different industries, including service-based industries, such as those in the legal, accounting, hospitality, or medical professions, product-based industries, such as those in electronics or retail, or even non-profit organization, such as charities or universities.
Certainly, B2B market research used as a survey tool can help companies get a leg up on their competition. They can help business managers make smarter business decisions by not only identifying key information, but, perhaps more importantly, by gaining deeper insight into the wants, needs, and pain points of targeted businesses, including competitors.
Armed with valuable information obtained from business-to-business market research, companies can implement more successful marketing solutions that enable them to not only attract more business customers and clients, but better serve their current business clientele. Not only that, but appropriately designed survey software for B2B market research can help business with competitive positioning -- by effectively differentiating their company from its competitors.
Experts also advise surveying your B2B customers and clients on a regular basis, particularly if you are in a frequently changing or turbulent industry, such as healthcare. Doing so will enable your company to be proactive to market changes rather than reactive, which enables you to add more value to each and every business relationship.
In the end, understanding your business customers better can help increase them exponentially.