Small to mid-market businesses can benefit from market research because in a word, it provides clarity.
For B2B businesses, market research tells them who their customers are and why they purchase their service or product. Research can also define metrics such as the cost per sale and provide insights around what the market wants in a product or service.
What does B2B marketing research involve?
Third-party research is the process of uncovering insights into your market by surveying customers, prospects, lost prospects, and company leadership – then synthesizing data and learnings to provide the objective intelligence companies need to improve their service or product offering, build relevance, fill their pipeline, and neutralize the competition.
Deliverables of a Root3 Research Project:
- Opportunity Analysis
- Competitive Intelligence
- Quantitative & Qualitative Research
- Message Development
- Strategic Plan Development
“Sales messaging is almost always ahead of marketing messaging,” says Root3 CEO Scott Christiansen. “In a fast-moving environment, such as healthcare or IT, the two messages can become ineffective or unrecognizable in a matter of months, not years. High-growth companies don’t have the luxury (or patience) to wait so it’s important to move quickly and with a sense of urgency. Often, while research is underway behind the scenes, our team will identify immediate marketing or sales needs that we can assist with, alleviating stress and keeping momentum going through the research phase of our partnership.”
A Root3 research and strategy project starts with exploratory interviews with an organization’s executive leadership, stakeholders, and clients. This is where we uncover market opportunity, document sales process and resources, and uncover proof-of-performance that can be utilized to drive credibility.
We also review your current business development strategy, conduct an in-depth competitor analysis, and identify strengths, weaknesses, and additional opportunities.
The finished product includes an updated/powerful messaging platform that allows you to influence decision makers and defuse the competition, as well as a 12-month strategic plan to source, nurture, and close new business faster and more efficiently.