Proprietary data: a foundation for success in new and emerging markets
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If you’re a mid-market or enterprise B2B company breaking into a new market, or an SMB launching your value proposition for the first time, building credibility is at the top of your list of challenges. No matter your value proposition, prospects will look to your previous work or thought leadership to determine the value of your services in their fields.
What can you do if your previous work comes up short in terms of credibility? According to Forbes, you can start by delivering on your prospects’ top concern—where they rank competitively in their markets:
“There is a hidden fear in the back of the mind of every business leader: are we missing out on something? Nobody wants to be behind the learning curve, especially in today’s rapidly changing business environment.”
Your Prospects Want Marketplace Data That You Can Provide
Today, 89% of buyers view content—especially thought leadership—as critical or important during the early stage of the buying process. Capture the attention of those buyers as they explore solutions like your own, and you’re already light years ahead of the competition.
Your prospects need accessible, data-driven assets that will give them clarity into how they measure up. When you invest in your own proprietary research, you can be the one to provide those assets. And when you distribute that information in the context of your value proposition, you can build your reputation quickly, even in new, niche, and untested markets.
Define Your Research Criteria for Valuable Market Insights
Let’s consider an example.
Suppose you offer AI solutions for retail customer service operations. You launch a 100-respondent survey of enterprise retailers, asking key questions about their customer service:
Are you currently utilizing AI in customer service?
What capabilities does your AI solution provide to your customers?
In your own words, please describe budgetary concerns preceding your investment in AI for customer service.
These survey results will transform the way you communicate your value proposition to prospects. That’s because they address key competitive areas where your services provide an advantage. If prospects identify areas of the market where they can gain an advantage, you will be the first to hear about those needs.
Building Surveys That Deliver Results
Ready to acquire that competitive data in a critical market? Direct, targeted surveys are the best method available. As opposed to third-party research, customizable surveys help you acquire the most actionable data for starting a dialogue with your customers. Here are five tips to set you on the path to inbound marketing success:
Identify respondent demographics. Depending on the information you want, target anyone from C-Suite executives to team leaders on the front lines of customer engagement.
Design questions based on your value propositions. If you want to show your prospects they’re missing out on competitive value—value you provide—be sure to ask questions that uncover how they can get ahead with your solutions, and the specifics of how they can do it.
Prioritize both quantitative and qualitative responses. Sometimes verbal responses are more telling than multiple choice. Imagine the insights from 100 unique responses to this question: “What is giving you a competitive edge in the coming year?”
Maximize the likelihood and value of your results. Surveys can be tricky, especially if you’re at risk of getting partial or insufficient results. But there are ways to get reliable results within your desired timeframe.
Partner with a research expert to maximize the value of your investment. The right expert can not only deliver the best research results but help you determine or even offer services to maximize the market value of your data.
Custom Research and Content, within Your Reach
rand&rand is a dedicated custom research firm that makes competitive data accessible to small businesses. After nearly a decade working with enterprise research companies, we’re delivering that same competitive value at a fraction of the cost.
Contact us now to start a conversation about how you can achieve huge competitive value in B2B markets of your choice.
