Empower B2B Decision-Making with Market Research Solutions

May 28, 2024

ViB Editorial Team

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     One question that bothers B2B digital marketers whenever we’re making a strong point is “Where can I get the most reliable data for informed decision-making?”

Market research solutions are powerful services that can help gather data and insights that can answer burning questions about your target market, competitors, and industry trends.

These solutions don’t just involve surveys and questionnaires. They use a variety of techniques, such as interviews, focus groups, and social media analysis, to paint a complete picture of your B2B tech and SaaS market landscape.

B2B organizations must have a solid awareness of their industry space and the current market trends to stay relevant in an ever-competitive digital landscape.

Why is B2B market research essential for high-tech businesses?

Imagine developing a cutting-edge tech solution but missing the mark entirely because you didn’t understand your customers’ needs. That’s not good. 😥

B2B marketing research can help you:

  • Target highly-specialized niche audience: With B2B market research, you can target clients who can directly benefit from your advanced offerings, like software cybersecurity, cloud, and IT.
  • Show value: High-tech products power a buyer’s operations, but what if they solve their specific problems? B2B research unlocks your customers’ struggles, letting you design perfect solutions. 
  • Stay ahead of the curve: Technology moves fast 🚀! B2B research helps you identify upcoming market trends in SaaS and what other companies are working on. This way, you can keep your inventions innovative and ensure they stay relevant in a rapidly changing market.
  • Making smarter decisions: Developing high-tech solutions can be expensive. B2B market research helps you make informed choices about features, pricing, and marketing strategies. It allows you to predict what will succeed and what might flop.
  • Building strong partnerships: High-tech buyers often look for reliable partners, not just a one-time purchase. B2B market research allows you to understand your customers’ needs better, fostering trust and long-term relationships.

 

How to make your B2B offering stand out?

So, how do you ensure that your B2B offering stands out? The answer is market research.

Market research can help you build products that customers love, target the perfect audience, set up competitive pricing, and future-proof your business. 

All of these are key elements for marketing strategies in tech and SaaS to succeed.

These are some ways in which  market research can help you achieve your marketing goals:

  • Helps you prioritize features and innovations: Focus on developing features that address real pain points, not just the latest tech trends.     
  • Avoid costly mistakes: Don’t waste resources building things nobody wants. Market research helps ensure your product is on the right track from the start.
  • Understand customer demographics: Age, location, interests – market research helps you paint a detailed picture of your ideal customer.
  • Craft targeted messages: Market research enables you to understand your clients’ language, interests, and needs. Craft relevant messages to capture their attention and interest in your product.
  • Assess competitor pricing: If the price is too high, nobody will buy if it is too low, you leave money on the table. Through competitive analysis in the tech industry, market research can help you see what similar products are priced at and set a price accordingly.
  • Identify emerging technology: Market research helps you see new technologies that might impact your industry. This way, you can see what’s on the horizon and get ready for it so your product stays on top.
  • Adapt and innovate: Market research allows you to adjust your roadmap to take advantage of new opportunities and stay relevant.

Things to look for in a market research company before selecting one

Contrary to what you may believe, not all market research solutions can give you what you need. There are so many things to consider, it can all get a bit confusing.

To help you get out of this conundrum, I have listed things you should look for when choosing a tech industry market research solution:

1. Credible new research

Forget recycled data – you need fresh, reliable insights based on the latest market trends in SaaS and customer behaviors. Look for a research company that allows you to get the real picture of who you’re selling to and what they want.

Why it matters: Tech is constantly changing, so yesterday’s info won’t help you win today. Real, fresh research helps you see what’s hot, what your competitors are doing, and new ways to grow before anyone else. 

This lets you make smart choices and grab opportunities before your rivals even know they exist!

2. Collaborative design process

Creating surveys can be tricky. You need to ask the right questions to get the data you need. A good market research solution should involve you in the survey design process. This way, you can ask exactly what you want to know about your customers.

Why it matters: Generic surveys can’t help you get the info you need from the people who matter most. By working together, you can craft a survey that can help you gather precise, actionable data that results in smart decision-making.

3. Customization options

Every tech company is different, so a one-size-fits-all research plan won’t work. Look for a company that can customize its research to your specific goals and the kind of customers you want to reach. 

Why it matters: By customizing your research, you get clear answers that help you inform things like new products, marketing campaigns, and pricing. 

4. Comprehensive analytics reports

Numbers can be confusing, but a good research solution can take all that data and turn it into something easy to understand. They’ll give you a clear report that explains what the data means and how you can use it to your advantage.

Why it matters: This can help you find new ways to reach customers, improve your product, and stay on top of your game!

How to choose the right market research solution?

So, you’re ready to dive into market research but feeling overwhelmed by all the options? Don’t worry, we’ve got you covered! Here’s a simple guide to help you choose the market research solution that’s the perfect fit for your company:

Step 1: Understanding your company’s needs

Before looking at solutions, take a moment to understand your company’s specific needs. What are you hoping to learn? Who is your target audience? Are you looking for a quick survey or a more in-depth analysis? 

Knowing your goals will help you narrow down your options.

Step 2: Research the options

Now it’s time to explore the market research solutions and vendors available! Read reviews, compare features, and get a sense of each company’s expertise. 

Above all, look for solutions that specialize in your industry or target audience. This is very important!

Step 3: Consider these key factors

Does the company offer these factors:

  • Scalability: Will your research need to grow over time? Choose a solution that can scale with your company.
  • Data Accuracy: Make sure the solution uses well-established methods and credible sources.
  • User-Friendliness: How easy is it to use the platform? Look for a solution that’s intuitive and doesn’t require a tech degree to operate.
  • Integration Capabilities: Can the solution connect with your existing tools and platforms? This will save you time and effort in the long run.

Step 4: Get a free trial or demo

Many market research solutions offer free trials or demos. This is a great way to test-drive the platform and see if it’s a good fit for your needs.

Step 5: Ask questions!

Don’t hesitate to reach out to potential providers with any questions you have. They should be happy to discuss your specific needs and explain how their solution can help.

💡 Bonus Tip: Budget is important, but don’t choose the cheapest option if it sacrifices the quality or features you need. Top market research solutions offer options that fit your budget, not just their bottom line. You’ll get the data you need to win without breaking the bank.

ViB Research checks all the boxes!

ViB Research focuses on creating custom research plans specifically designed for B2B tech businesses like yours. Decide what you want to focus on researching, who your target is, and keep all the data. This intel can fuel lead generation – one client saw $5 million in sales prospects

ViB’s secret weapon? A massive network of tech professionals for targeted surveys. Their research analysts turn data into clear insights for smart decisions. 

Plus, ViB is way more affordable than big-name research companies. They handle all the hard work so you can focus on using the insights to grow your business 📈. 

Want to see how it works? Check out their real-life success story from a satisfied client 🩷!

 Let’s dive into how ViB Research is helping companies do more with market research. 

ViB Research helps Illumio score big with targeted research

Illumio, a cybersecurity company, wanted to be the go-to choice for businesses and attract new customers. Mandy Skroupa, their marketing manager, knew traditional surveys weren’t reliable.

ViB Research, on the other hand, was able to provide Illumio with valuable real-world information about IT security professionals. This intel helped Illumio create a highly popular report on security risks, which received a ton of downloads!

Building on this success, Illumio used the report for even more marketing campaigns, like press releases and online events.

The result? ViB Research helped Illumio:

  • Become the industry leader everyone talks about.
  • Get more people aware of their security products.
  • Attract new customers looking for top-notch protection.
  • Develop a winning marketing strategy that delivers results.

 

What are the future market trends in SaaS and tech?

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     The world of market research for tech and SaaS is in for a revolution! Here’s what the future holds:

  • AI-powered insights: AI is analyzing data lightning fast, uncovering social media trends, and even understanding emotions to give companies a deeper look into their customers.
  • Digital footprint analysis: Companies will also leverage the digital footprints we leave online to understand our preferences better than ever before.
  • Focus on feelings: Market research will look at user experiences and frustrations to create products people love.
  • Real-time data analysis: No more waiting! Real-time data will help companies adapt to market changes instantly.
  • Super-specific research: Get razor-sharp insights from highly-targeted niche groups just starting to use AI.

Grow Your B2B Company Through Smarter Market Research

This glimpse into the future of market research for tech and SaaS companies is a wake-up call. 

Is your current approach keeping pace with these emerging trends?

Here’s what you can do to stay on top of the trends:

  • Try new things: Don’t be scared to experiment with new research tools and techniques. 
  • Analyze data like a pro: Train your team to understand data so they can turn it into smart decisions. 
  • Be flexible: Adapt your research plans based on what real-time data reveals. 
  • Put customers first: Understand their experiences, not just age and location. 
  • Find a tech-savvy partner: Look for market research companies that use the latest tech to understand the tech world!

Are you ready to take your tech or SaaS company to the next level?

Embrace the future of market research with ViB Research and help your business grow!

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