Why is Market Research So Critical?

It is the best way to understand your customers.

Developing an understanding of your customers’ most significant pain points is key to building the right products and crafting the best messaging. With these insights, you are in a position to understand your customers’ needs and wants; insight drive innovation that addresses new and emerging unmet needs.

Your company’s growth depends on your insights

Your company’s growth depends on your ability to assess these strategic questions.

Do I understand the market drivers?
Do my marketing messages resonate with my chosen market audience?
Does my product address my customers needs today?
Is my product a good fit and is it heading in the right direction?

Implementing effective B2B Market Research and Voice-Of-the Customer programs requires experiences, planning, and execution. In the execution phase, it is critical to validate the findings with real and fast wins– Flagship Sales.

Why Market Research & VoC Matters

Especially in today’s rapidly changing world of Software & Technology, firms face the pressure of building superior and differentiated offerings. Software development teams build code faster than ever before, and marketing teams must respond with unique messaging and value propositions that quickly turn prospects into sales.

However, many B2B organizations fall into a trap of a “build-it-and-they-will-come” fallacy and validate their own ideas. In turn, developers and marketing teams build scenarios based on assumptions and insights they develop through internal meetings and desired of senior management. They make crucial decisions with little input from potential customers. In many cases, the customers’ perspectives may be very different, leading to messaging that falls short and ultimate failure.

Only by talking with a representative set of customers and listening to their goals, needs and problems may teams better understand their real context and expectations, and then objectively assess the pros and cons of their offering from the eyes of the prospect. Market and VoC research becomes your most cost-effective and lowest risk approach to communicate internally what’s important and, thus, how to expand in an adjacent market or geography.