The B2B Research Blog

Trending Sources

Using Regression Analysis in market research

The B2B Research Blog

Satisfaction in regard to four high-level factors – product quality, consultancy on product use, technical support and quality of the relationship. Satisfaction with product. boost in overall satisfaction – around a fifth less than a 1-point increase in product satisfaction would deliver. What areas of the product should we focus on to increase overall satisfaction?

Is customer satisfaction really important in B2B?

The B2B Research Blog

This advantage is usually in one of four areas: A better quality product or service. They are inherently inert – either the product/service area makes limited business impact so is low down the list of corporate priorities, or as an individual their default position is to adopt the ‘path of least resistance’. Customer loyalty is critical to any business.  Let me explain.

The benefits of a strong brand in B2B markets

The B2B Research Blog

The functional and emotional benefits (yes, even in B2B) to be derived from working with your organisation or products. It’s a point of differentiation, especially in commoditised markets where there is little apparent difference between products and services. strong brand also comes into its own in situations where it is difficult to compare products and services (e.g. if the buyer has limited knowledge, if the product is complex) as it suggests inherent quality. Some don’t think that branding matters in B2B markets.  You can however choose to manage your brand.

Branding terminology and jargon explained

The B2B Research Blog

Three key phrases concern how the brand is recognised: Brand name : What the company calls itself and its products.  For example, ‘Apple’ is the corporate brand name and ‘iPhone’ is the product brand name. Jargon abounds in the discipline of branding, and the plethora of terms in use coupled with the sometimes nuanced differences between them can have undesirable side effects.  Sometimes the jargon undermines the user, making them seem pretentious or detached from the hard-nosed world of commerce.  Here’s the most important phrase of all though. 

B2B Marketing Trends for 2016

Manage the customer experience: great content alone won't save a lousy product or cumbersome experience. Don’t just talk about your product or service. time for B2B marketers to let go of their obsession with perfect production. Define your business strategy: products, prospects, distribution, sales and. develop a highly productive online lead generation system.

How to measure customer satisfaction in B2B markets

The B2B Research Blog

For example, even disgruntled customers may remain loyal because: A supplier offers a significant product or price advantage. How do you measure customer satisfaction in B2B markets?  What questions should you ask in a customer satisfaction survey? Fair questions, but first ask yourself this: should you measure customer satisfaction?  It’s counter-intuitive, but in B2B markets sometimes customer satisfaction doesn’t actually matter.  The cost, effort or risk of moving supplier is just too high. They’re inert and don’t really care that much. There’s, of course, a lot more to it. 

Does Big Data mean market research is dead?

The B2B Research Blog

What do customers think about new product concepts?  When Big Data finally becomes a reality, does that mean market research will become surplus to requirements?  Will surveys, focus groups and interviews become relics of a bygone age? Some would say so. They argue that we already have the answers to most questions at our fingertips.  They’re sitting in our servers and on the web.  All we need to do is mine the data to reveal the insight.  That being the case, why bother asking customers themselves, especially as what people say they do, doesn’t always match what they actually do?

The secrets of successful B2B marketing

The B2B Research Blog

This plan can’t simply be the product of the marketing team’s internal musings, but rather needs to be: Aligned to the business’ wider business strategy and goals. What’s the secret to successful marketing?  A recent survey by B2B Marketing and Circle Research asked 104 client-side B2B marketers that very question – ‘what would you say are the key elements to successful B2B marketing?’.  They were given free rein to answer however they wanted and an analysis of these responses reveals five themes. Based on deep insights into customers – their motivations, needs and behaviours.

Financial benchmarks for B2B marketing agencies

The B2B Research Blog

There’s another useful benchmark here.  On average an agency generates £85,509 of turnover and £8,450 of net profit per employee.  So if your ratio is below this, it may indicate productivity or over-staffing issues.  A possible solution is a greater use of freelancers who represent a more flexible cost.  Let’s look at the top line first.  The average agency turnover is £4.08 million (up 13% from 2013).  However, as averages mask the extremes a more useful approach is to identify quartiles.  1st 25% of agencies) turnover up to £1.3 million. The 2nd quartile turnover £1.3 – £2.9

B2B Marketing Trends for 2016

Manage the customer experience: great content alone won't save a lousy product or cumbersome experience. Don’t just talk about your product or service. time for B2B marketers to let go of their obsession with perfect production. Define your business strategy: products, prospects, distribution, sales and. develop a highly productive online lead generation system.

It’s all about the lead

The B2B Research Blog

For those selling ‘big ticket’ products or services (worth more than £5,000) the average cost is £903.  Marketing still plays second fiddle to sales in B2B organisations. . Past readings of the B2B Barometer survey reveal that up to 60% of B2B marketers agree with this statement and the latest survey published in June 2012 confirms it. . Two fifths (41%) of B2B marketers report that their single highest marketing priority for 2012 is to generate more of the salesperson’s raw material – leads.  Fair enough.  It seems that lead generation is not cheap.  So how best to generate them?

Lead 84

The secrets of employee motivation

The B2B Research Blog

Our product is the insight extracted from these raw materials by clever folk. In her latest blog for Quirk’s Marketing Research Review , Circle Research’s HR lead Beth Pearson explores how an agency can best nurture and retain talent…. Research is a people business. Our raw materials are the opinions of respondents. And an agency or client-side researcher can only make a difference if they’re skilled at building relationships with key stakeholders. This all means that attracting, developing and motivating top talent is critical to our industry’s future. What’s the secret?

SME marketing channel preferences revealed

The B2B Research Blog

Moreover, they’re big buyers of B2B products and services.  Rather, in most product categories they can be clustered into distinct groups based on behaviours, preferences and attitudes.  There are 1.3 million of them, they generate half of the UK’s GDP and employ 60 per cent of the private sector workforce.  Just ask Sage who’s built a £1.4 billion business on the back of them. SMEs are a potentially significant opportunity for many B2B marketers then, but how best to open a conversation? Their answers provide clear guidance on where best to target marketing resources. 

SME 64

The seven R’s of thought leadership

The B2B Research Blog

Demonstrating genuine, unparalleled expertise is especially critical in any sector where the product is, well, expertise.  In these circumstances good thought leadership gives potential buyers confidence that the quality of service received will live up to the promise. Thought leadership.  Everyone’s claiming it but, by very definition, only a handful ever delivers.  So how do you ensure that your content marketing strategy positions you as one of the few? . Follow the seven R’s – Resonant, Rare, Road Mapped, Robust, Rounded, Rooted and Re-used. It’s a showcase.  Resonant. Rounded. 

Net Promoter Score (NPS) in B2B – the evidence

The B2B Research Blog

Underpinning NPS is the idea that if a customer is likely to recommend a business or product, then they themselves stay loyal and they spread positive word-of-mouth. Net Promoter Score (NPS). It’s the one number that almost every organisation seems to include in their management metrics and it’s easy to see why. It’s a focal point. It’s intuitive. The result? But hold on. There’s a problem.

B2B Marketing Trends for 2016

Manage the customer experience: great content alone won't save a lousy product or cumbersome experience. Don’t just talk about your product or service. time for B2B marketers to let go of their obsession with perfect production. Define your business strategy: products, prospects, distribution, sales and. develop a highly productive online lead generation system.

Who owns your brand? B2B brand perceptions research

The B2B Research Blog

Through every encounter they’ve had with your organisation, your employees or products.  Your organisation doesn’t own its brand.   It can shape it, manage it, but never own it. That’s because a brand is not what an organisation says it is.  It’s what the market believes it to be.  It’s a perception developed through the sum of an individual’s experience. Through what they hear from you and about you. Despite this, the B2B Barometer survey reveals that the majority (62 per cent) of B2B marketers don’t research external brand perceptions.  So what should we measure? Enjoyed this post?

Why is B2B market research the poor cousin?

The B2B Research Blog

Behind every single consumer product sit many, many B2B products. In his latest blog for the Market Research Society’s news and insight hub Research Live , Circle Research’s Andrew Dalglish explores why business-to-business companies need research just as much as consumer-facing ones…. The research industry is full of dichotomies: qualitative and quantitative; domestic and international; B2C and B2B. There’s no value judgement within these pairings. Each Each side of the coin meets a different need and requires a different skill set. However, No, in fact the opposite is true. Behind

B2C 25

Three reasons B2B marketers should care about sustainability

The B2B Research Blog

Sustainability is also starting to drive another of marketing’s remits: product innovation.  So our involvement can be absolutely critical to clients.  We operate on our clients’ premises, we use their utilities, we feed them, we feed their own employees and we feed their customers, we manage their facilities to make sure that they are safe, comfortable, productive places. more engaged workforce.  It means that people are happier, they’re better motivated and more productive. B2B branding B2B market research B2B product and service development Willan interviews.

47% of B2B marketers endorse using sex to sell

The B2B Research Blog

At a tactical level it seems counter-productive.  In a B2B environment, odds are that if someone needs to be enticed in this way then they’re not really a serious prospect. Ever since I was invited to join The Network of Aspiring Women (Birmingham Group), I’ve felt more in touch with my feminine side ( see post here ). Perhaps that’s why my interest was piqued by a recent discussion on the B-to-B Marketing LinkedIn Group. Kate Bishop, Marketing Co-ordinator at Custom Fluidpower, has a dilemma.   To use, or not to use, promotional girls at a trade show stand? They’re knowledgeable.

An interview with Jaakko Alanko: MD, Alanko Consulting

The B2B Research Blog

We’ve seen a clear move away from product marketing to service and solution marketing; there’s been less focus on the technical or physical item, but a much stronger emphasis on the expertise, skills and knowledge of the organisation that is doing the selling.  So, we’ve moved from techy marketing to knowledge marketing, if you like. . The challenge is to market the totality of the enterprise’s capabilities in a situation where current infrastructures have been designed and built for product marketing.  What are the biggest? Technology enables us to do this. .

B2B Marcomms Agency League – highlights

The B2B Research Blog

We’ve the juicy challenge of bringing to life what can often, at face value, be rather dry products and engaging with buyers on an emotional as well as functional basis. Aren’t we B2B marketers are blessed? We’ve the intellectual stimulation that comes from getting to grips with complex markets and decision making processes. And we also have a thriving community of agencies.  At the B2B Marketing Awards we see a showcase of talent that never fails to impress.  But that’s just tip of the iceberg.  There’s an army of unsung heroes out there too. Here the numbers are excellent.

B2B Marcomms Agency League – highlights

The B2B Research Blog

We’ve the juicy challenge of bringing to life what can often, at face value, be rather dry products and engaging with buyers on an emotional as well as functional basis. Aren’t we B2B marketers are blessed? We’ve the intellectual stimulation that comes from getting to grips with complex markets and decision making processes. The average satisfaction score given by clients to their agency is 8.3 out of 10. And we also have a thriving community of agencies.  At the B2B Marketing Awards we see a showcase of talent that never fails to impress.  But that’s just tip of the iceberg. 

Three customer insights for your marketing plan

The B2B Research Blog

Identifying segments on this basis leads to a much better ROI – marcomms resonate, propositions have greater appeal and new products see higher demand. Understanding a ‘day-in-the-life’ of a customer is invaluable in fuelling innovation and enabling better engagement.  A much deeper approach to marketing can be taken if you know what the customer’s working environment is like, what tasks consume their day, what makes them successful (as an organisation and an individual) and where your products/services fit in. The most fruitful of these plans are built on customer insights. 

Better B2B segmentation: Four steps and a case study

The B2B Research Blog

This struck me as the B2B equivalent of targeting a FMCG product at everybody under the age of 70.  It’s far too broad, essentially meaningless and does little to make the proposition more relevant or sales efforts more precisely targeted. Deeper understanding of what makes the market tick, products that better meet requirements, messages that resonate and optimum use of resources as only genuine prospects are targeted. I’d love to hear your segmentation stories.  Last week I was invited to join The Network of Aspiring Woman, Birmingham Group.  I was tempted.  The result?

SME 15

Three customer insights for your marketing plan

The B2B Research Blog

Identifying segments on this basis leads to a much better ROI – marcomms resonate, propositions have greater appeal and new products see higher demand (read more on B2B market segmentation research here ). Understanding a ‘day-in-the-life’ of a customer is invaluable in fuelling innovation and enabling better engagement.  A much deeper approach to marketing can be taken if you know what the customer’s working environment is like, what tasks consume their day, what makes them successful (as an organisation and an individual) and where your products/services fit in.

Business-to-business (B2B) pricing strategy research – part 1

The B2B Research Blog

When developing the optimum pricing strategy in business-to-business (B2B) markets, it’s essential to have insights into how the market is likely to react when a product or service is sold at different price points.  The Gabor-Granger technique seeks to identify levels of demand at different price points.  To do so, survey respondents are shown the product at an initial price point and asked how likely they would be to buy it.  In some situations, products are very similar and the brand is the primary determinant of the price people are willing to pay.  Gabor-Granger.

Branding terminology and jargon explained

The B2B Research Blog

Three key phrases concern how the brand is recognised: Brand name : What the company calls itself and its products.  For example, ‘Apple’ is the corporate brand name and ‘iPhone’ is the product brand name. Jargon abounds in the discipline of branding, and the plethora of terms in use coupled with the sometimes nuanced differences between them can have undesirable side effects.  Sometimes the jargon undermines the user, making them seem pretentious or detached from the hard-nosed world of commerce.  Here’s the most important phrase of all though. 

The benefits of a strong brand in B2B markets

The B2B Research Blog

The functional and emotional benefits (yes, even in B2B) to be derived from working with your organisation or products. It’s a point of differentiation, especially in commoditised markets where there is little apparent difference between products and services. strong brand also comes into its own in situations where it is difficult to compare products and services (e.g. if the buyer has limited knowledge, if the product is complex) as it suggests inherent quality. Some don’t think that branding matters in B2B markets.  You can however choose to manage your brand.

The cost of losing a customer

The B2B Research Blog

Perhaps demand for their products has decreased, maybe innovations in their business mean that they now need less of what you sell, or it could be that they’ve started buying elsewhere.  What’s the cost of losing a customer?  ‘A lot’ is the simple answer, especially in B2B markets where the pool of prospective customers is limited and each sale tends to be high value. We can be a bit more specific about the cost of losing a customer though. However, ignore any stats like these because they’re a red-herring.  Here’s how. There could be many reasons.  Cost per lost customer.

Using Regression Analysis in market research

The B2B Research Blog

Satisfaction in regard to four high-level factors – product quality, consultancy on product use, technical support and quality of the relationship. Satisfaction with product. boost in overall satisfaction – around a fifth less than a 1-point increase in product satisfaction would deliver. What areas of the product should we focus on to increase overall satisfaction? The outputs for the six product factors tested were as follows: Product factor. Satisfaction with the product itself is most powerful in driving overall satisfaction. and 0.7

How to measure customer satisfaction in B2B markets

The B2B Research Blog

For example, even disgruntled customers may remain loyal because: A supplier offers a significant product or price advantage. How do you measure customer satisfaction in B2B markets?  What questions should you ask in a customer satisfaction survey? Fair questions, but first ask yourself this: should you measure customer satisfaction?  It’s counter-intuitive, but in B2B markets sometimes customer satisfaction doesn’t actually matter.  The cost, effort or risk of moving supplier is just too high8. They’re inert and don’t really care that much. There’s of course a lot more to it. 

An interview with Stephen Cheliotis: CEO, Centre for Brand Analysis

The B2B Research Blog

The sort of questions we ask are: do the products and services delivered by the brand represent good quality?  Now, the best graduates, the best employees will be attracted to companies with a well-known, high profile, well regarded brand.  If you want the best talent to deliver your products and service, you’ve got to have a strong brand. One criticism of B2B is that just because the product may be boring it seems to suggest that suppliers should be boring too.  It’s nonsense.  Every month David Willan interviews leading experts in from the world of marketing and B2B. 

B2C 6

Calculating Net Promoter Score (NPS) in B2B markets

The B2B Research Blog

The traditional NPS question is phrased as follows: How likely is it that you would recommend [Company] [Product] to a friend or colleague? Net Promoter Score (NPS) is perhaps the most widely used metric in customer satisfaction and loyalty research.  Here at Circle, our view is that NPS isn’t always the best metric in B2B environments (we explain why here ), but it does have a role to play.  So, assuming it is the right metric for your business, how do you calculate Net Promoter Score (NPS)? Now take all of your responses and divide them into three groups: ‘Detractors’ score you 0 to 6.

Not how you fly, but how you serve

The B2B Research Blog

BA service has always been strong and product development has been at the forefront historically.  However, whilst Biggles jackets and Dakotas are lovely to behold and bring on a real frisson of warm nostalgia, there are those for whom peerless cabin service, punctuality and product pre-eminence will always carry more weight.  An interesting advertising tack! 

Tips for international B2B market research

The B2B Research Blog

With a finite customer base at home and products which can be ‘translated’ with relative ease it makes good sense.  B2B organisations have always had a natural inclination to expand internationally.  And as globalisation continues at a pace, the importance of foreign shores is ever-increasing. This international dimension has important implications for how market research is conducted and interpreted.  In my time I’ve run research projects in dozens of countries so thought I’d share a few pointers for those about to embark on an international B2B research study. Remember the rules. 

Tips for international B2B market research

The B2B Research Blog

With a finite customer base at home and products which can be ‘translated’ with relative ease it makes good sense.  B2B organisations have always had a natural inclination to expand internationally.  And as globalisation continues at a pace, the importance of foreign shores is ever-increasing. This international dimension has important implications for how market research is conducted and interpreted.  In my time I’ve run research projects in dozens of countries so thought I’d share a few pointers for those about to embark on an international B2B research study. Remember the rules. 

Air Cargo News: Interview with Circle’s Andy Booth

The B2B Research Blog

It has worked with leading airline cargo departments, express operators and forwarders on such very un-air cargo concepts as brand positioning, customer segmentation and product optimisation. More fundamentally, a question might be whether the company is in fact offering the right products or focusing its efforts in the right areas. Important though product details and performance statistics are, however, they are not the only things that matters to customers. They are building the brand, but they are also letting us know about new routes and products,” he says.

How many B2B marketers are in a Glacier Mint?

The B2B Research Blog

Marketers that represent suppliers of machinery to equip the factory, energy to power the production line, raw ingredients to be transformed, packaging to keep the product fresh and logistics to deliver them to the customer.  I’m of the opinion that every car glove box should contain, as standard, boiled sweets.  Some opt for the classic travel tin but I prefer a bag of Fox’s Glacier Mints.  I like the taste, but I like the idea more.  That in my little glove box sits an icon; a brand that’s part of our cultural fabric. Here’s some Glacier Mint trivia.  Hold on.  Armies of them.

B2C 2

The Ministry of Happiness

The B2B Research Blog

That’s why governments should monitor Gross National Happiness (GNH) alongside Gross National Product (GNP). Reasons like customer loyalty, motivated employees and more productive channel partner relationships. “[GNP] measures everything…except that which makes life worthwhile” said Robert Kennedy.  Forty years on David Cameron has picked up Kennedy’s idea and instructed government statisticians to begin measuring quality of life in psychological terms. . In a nutshell the idea is this.  Government has many roles but its core goal is to ensure the happiness of citizens.