What are the types of B2B market research
Market research has been on the rise in recent years, but if one were to single out the one area where it has been getting the most attention globally, it would have to be the B2B realm. Market research for B2B in Poland has witnessed the same kind of trend reflected, with companies being now more eager than ever before to forge closer ties not just with free-range consumers out there but directly with businesses as well.
B2B stands for business-to-business and describes a situation in which one business reaches out to another business with a view to pitching them its products or services. B2B is not to be confused with the B2C (business-to-consumer) model as the B2B sales funnel is often less straightforward, considers a bigger number of niches, and works with a somewhat different set of variables. But more on that later.
Similarly to its B2C counterpart, B2B can roughly be broken down into quantitative and qualitative research. In the broadest sense, quantitative research is all about volume whereas qualitative research is all about the nitty-gritty. Or better yet, the former draws its power from sheer numbers, while the latter draws it from voices. None is necessarily better than the other as they serve essentially different goals, focusing on the what and the why, respectively.
The level of flexibility each allows is also different. As a B2B market research company based in Poland, we know that B2B market research in Poland can yield different outcomes depending on which model you choose to rely on for your branding endeavors.
Since both qualitative and quantitative methods have their strengths and weaknesses, companies nowadays are increasingly willing to opt for mixed B2B market research projects as a way to safeguard against any such potential gaps. In the mixed (or combined) model of B2B market research, a quantitative study takes place alongside a qualitative one, often in this very order.
Knowing who your potential business partners are and how they approach the market will not only help you improve your marketing efforts and deploy resources more effectively, but it may also lend you a solid foundation for testing out products or services in the future.
While markets are living organisms subject to constant change, there are some business drivers that rarely, if ever, change. Business behavior is more complex but at the same time more predictable and more stable than social moods, that’s why B2B market research is considered to be so valuable – it is, simply put, something on which a pattern can be etched.
Another breakdown, B2B market research can also be divided into primary or secondary.
We speak of primary B2B market research when a company directly inquires local consumers about its brand and pierces findings into business strategy components. In many ways, it’s the most straightforward way of conducting market research as it leaves relatively little room for ambiguities. But because of that, it is also limiting in that it cuts you off from the possibility of exploring aspects and niches you may have otherwise not considered and that is there waiting to be identified and tapped into. This is especially true of international projects where the knowledge of the local market supposes an important limitation.
On the other end of the spectrum, we have secondary B2B market research which is when a research study is outsourced to a third-party market research company. While this option proves more demanding at the level of mining data and interpreting results, it is also more rewarding for the business in the sense that it offers a panoramic overview of the market with all its quirks and tickles that make it different stand out from other markets. And if there is one thing B2B market research companies such as ours excel at, it is precisely outlining the streamlined path to the heart and soul of the market, rather than leaving you hanging on its peripheries.
As with any market research study, it is important to know why you do what you do and what you intend to achieve. This will impact the type of B2B market research you will end up choosing and will help you narrow down your options early on to choose the optimal way to go for your brand.
Keep in mind, however, there is no one-size-fits-all solution for how to proceed and you must be ready to revisit your expectations accordingly. Mixed solutions such as the qualitative-and-quantitative-research combo may also work best if you need a comprehensive insight into a largely unfamiliar market that will check all the boxes just in case or you are testing out concepts and niches that can’t be easily bottled.
If you are looking to conduct B2B market research in Poland, the specifics of market research for B2B in Poland are bound to differ markedly from those typical of other markets. But we’re here to help and reassure you. Not every B2B market research company in Poland has the same access to business databases spanning a variety of industries, which is a must these days and the ultimate warrant of conducting successful B2B market research in Poland.