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How to Conduct Effective Market Research to Construct Better Marketing Strategies

B2B marketing is more of a science than it is a simple act of selling products and services. And much like a science, it is concerned with systems and relations.

B2B lead generation and appointment setting activities are interconnected. Then again, they function in specific ways, with the former identifying good prospects that the latter can direct towards making a purchase.

But such processes are subject to conditions that act randomly and independently beyond the control of marketers. For instance, market behaviors are arbitrary because people decide differently in terms of finding apt solutions to specific problems. It is this problem that makes generalizing the B2B landscape as difficult as predicting an earthquake.

It is in this sense that marketers need to conduct research. At least, with market research, businesses can develop appropriate actions to market uncertainties.

It is no doubt difficult to provide an accurate summary of audience behaviors, but market research helps identify weaknesses, assess current market situations and ultimately aid in forming better decisions.

Just as we want to effectively satisfy our curiosities toward the natural world, it is also important for marketers to arrive at better marketing conclusions through potent market research methods.

Listen to what the market says

What better way to know trending topics than through social listening. Focusing on what the market is talking about, businesses can gain knowledge about specific needs, or at least common needs within a specific demographic. This is possible through participating in online forums, industry discussions and events.

Find out ranking keywords

In terms of what specific products a particular audience wants, keyword research enables businesses to dissect preferences based on what people type in the search boxes. Knowing which keywords rank the most not only helps develop one’s SEO strategy; it also helps in determining new marketing niches that can be tapped.

Curate for content

The information you need to optimize your strategies can be sourced from other institutions not necessarily concerned with business. There are thousands of nifty blogs that feature a great wealth of marketing information online. It is then essential to explore relevant platforms and keep your eyes and ears open to new information worth noting.

Survey your audience

Concrete facts are needed in gauging market preferences. A business can only get them through effective market survey activities. For the B2B industry, phone surveys are excellent methods. They allow a business to get to the heart of their audience, i.e. to know how the audience perceives the brand. Such market research services are offered by a competent B2B telemarketing company that places evidence above anything else.

Can’t decide whether to outsource or not? Let this be a guide for your decision making.

 

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How to Generate Leads for Competition

Lead generation has become such a staple for the survival of companies in the information age that neglecting it can prove disastrous in the face of competition. Resources matter and that is why big businesses with a large pool at their disposal are bound to dominate the landscape.

But this shouldn’t discourage you from entering the arena. It’s just a matter of having the proper know-how and discipline in order to organize marketing strategies and attract business prospects.

Persistence and determination are usually needed by businesses starting afresh, but it takes more than that. Often, you may need a bit of expertise and finesse in order to generate sales leads that can place you at par with the big leagues.

But on account of limited resources, one may ask, “Where must I start?”

Social Media. First, start-up businesses can penetrate their target market through blogs and social media. It does not necessarily mean that you have to spend a whole lot of money to get your blog up and running. Nowadays, startup businesses can establish an online presence for lesser costs. The most important idea here is to put your products and services where your prospects can see them. What follows is the simple matter of projecting an authoritative image.

Appointment Setting. Knowing how to effectively hold a sales meeting translates to actual sales closes and warmer relations with your audience. Thus, it is imperative that you set appointments effectively. The same can be said of telemarketing operations.

Research. B2B lead generation can be pretty daunting to neophyte entrepreneurs.  But it doesn’t appear entirely so. The real task is for businesses to get properly acquainted with their prospects. And this means rummaging through and selecting relevant and pertinent data. A good hand at market research can guarantee more sales closes than just persistent telemarketing calls.

SEO. This is the reason why so many marketers cringe. Still, it comprises the ingredients of an effective web presence. Start-up businesses normally struggle with creating a blog or a landing page, and they struggle even more with supplying it with content that is both interesting and having a high searchability. But don’t let SEO pull your business down. Hire a competent company that can put you on the top of the search results.

Allowing your company to make use of these four essential factors can reap a whole range of benefits and opportunities for growth, even if the B2B landscape is populated by battle-heartened predators.

 

 

B2B Tip: Using Telemarketing Calls as Opportunities for Market Research

 

There are always a lot of things to learn about the marketplace, that’s why research is an essential tool for survival. The good news is that you don’t have to put so much effort in your research efforts; as it turns out, telemarketing can do the job for you – well, at least some of it.

Majority of telemarketing calls do not result in an appointment or lead generation success, but the effort that went with it and the information gathered during the call do not have to be wasted. Telemarketing calls can be an opportunity for a business to learn something about marketing approaches, target market needs and even common business operations. Here are some pertinent pieces of information that can be extracted from conversations:

    • Perform A/B test for pitches. A company can try different ideas and then concentrate on the most successful one, rather than guessing at the most effective pitch to be used for prospects.

 

    • Hand over different market lists to different telemarketing teams. Sometimes going down-market makes up in volume what it sacrifices in margin.

 

    • Re-structuring the value proposition. Using segmented telemarketing efforts is a good way to find out what difference it would make to adjust a price point here or credit terms there.

 

 

    • Find out who is getting the business. In the course of a telemarketing effort, a key thing to learn is who has what business. This can be valuable for competitive analysis and for targeting specific competitors in the future.

 

    • Be aware to waning demand. Telemarketing callers could try to discern if rejections are based on choosing someone else, or simply on declining interest in the product or service. This data is very important in thinking about a company’s long-term goals.

 

    • Watch out for substitution trends. Be aware if there is a type of different product or service people are turning to as an alternative. It might be that your products are already obsolete in the eyes of your audience, or because a completely different replacement has risen.

 

  • Observe new needs. Find out what people want, even in the short-term scale, and it might help guide product development efforts. Technology is fast growing, and people’s desires also rapidly change. By conversing with prospects, you’ll get a picture of what to offer next.