We’re seeing a massive shift in the way B2B transactions are carried out today. Studies conducted recently showcase that a staggering 77% of B2B buyers now spend more time researching before making purchasing decisions. They’re spending far more time digging into information themselves rather than waiting for a salesperson to guide them. This means if you’re offering something to other businesses, you need to be incredibly sharp and quick to understand what your potential customers are thinking. You can’t rely on old ways of gathering information.
This is where B2B panels are making a difference.
These agile high-impact research platforms connect brands directly with verified business professionals, enabling brands to conduct B2B research effectively and make more informed business decisions.
At Borderless Access, we have extensive experience serving the market research needs of a global clientele. One notable instance is a study we conducted in the US for social media giant, Meta. Our mandate was to target and access a niche audience that held strategic importance. We curated, built, and maintained the B2B panel with the help of our own community platform.
In addition to the real-time insights and robust data analytics that the client received in this space, we also came across some interesting ancillary insights by engaging with this B2B community. These pertained to the few substantial blind spots we came across when conducting the survey. We have tried to collate our findings in this area in this blog.
The Mistakes Brands Make in B2B Marketing
We will examine some mistakes brands typically make that bring down the efficacy of the market research data and results.
1. The Feature Frenzy: When Specs Override User Experience
Problem
Overemphasizing technical specs while ignoring real-world user value leads to misaligned offerings.
How We Can Solve It
At Borderless Access, our B2B panel enables user-focused research like in-depth interviews and observational research for context-specific feedback. This lets you solve actual customer problems.
2. Short-Sighted Research Syndrome
Problem
Focusing only on immediate gains ignores long-term trends.
How We Can Solve It
Brands must come up with a well-balanced research plan incorporating long and short term goals that can be met with our B2B research panels. With it, you can track market trends and predict changes before they are apparent.
3. The Echo Chamber Effect: Breaking Free from Industry Groupthink
Problem
‘Herd mentality’ stifles innovation, creating copycat products.
How We Can Solve It
You should promote cross-industry benchmarking to gain insights with an online research panel. It provides access to industry professionals’ viewpoints beyond your industry.
4. Quantitative Data: When Metrics Miss the Human Factor
Problem
Quantitative data alone miss the “why” behind the decisions.
How We Can Solve It
At Borderless Access, we help you get the best of quant and qual surveys. Our B2B panel members can participate in in-depth discussions that provide context to statistical results.
Now that we know what the major problems are companies need to work on, let us see how the digital panels of Borderless Access can help you drive impactful B2B results.
How Borderless Access Digital Panels Drive Impactful B2B Results
As evident from these issues, you need a carefully curated survey panel that can lend weightage to the opinions of the survey and derive credibility in the data. A B2B digital panel drives impactful results through precision targeting and specialized access. Apart from this, there are many other ways these online panels can help businesses. So, let us look at them one by one –
Precision Targeting
Borderless Access excels in precision targeting by offering granular micro-segmentation. This involves segmenting audiences based on specific criteria such as industry, company size, and job titles. For example, for the Meta study, we had to target and access a niche B2B audience that held strategic importance. We used our proprietary community platform to build, engage, and maintain a validated custom community. This precise targeting minimizes noise and maximizes the relevance of the data collected.
Real-Time Research
The platform facilitates real-time research through agile feedback loops, enabling responsive product development. As an example, in the Meta study, the focus was on real-time insights to be derived from this community panel of 5000+ members. Our marketing & loyalty management experts were instrumental in engaging actively with the members to obtain real-time data on the marketing problem faced by Meta.
Engagement Hubs
Borderless Access creates tailored custom community panels that foster meaningful stakeholder conversations. These engagement hubs are designed to bring together key stakeholders in a structured and moderated environment.
The Meta study gives a glimpse of our expertise in this specific area. We recruited and built a validated custom community of 5000+ decision making advertisers using our bespoke community platform – SmartSight. It helped Meta obtain real-time insights for their global advertising and marketing campaign overhaul.
Quality Assurance
Quality assurance is a cornerstone of Borderless Access’s methodology. The platform has rigorous screening and recruiting. This is to ensure diverse panel representation. As a result, the insights gathered are representative of the broader B2B landscape. An instance is the Meta study needed a niche community of B2B advertisers to get timely insights. For this, we deployed a service engagement model over and above the platform capabilities for total engagement. With expert community panel management, we enabled Meta to get access to a niche verified B2B community audience.
Insight Exploration
The platform offers advanced qualitative capabilities that facilitate deeper understanding. Beyond quantitative data, Borderless Access provides tools for in-depth interviews and focus groups. For instance, a healthcare company might use these qualitative methods to explore the underlying reasons behind physician prescribing habits. With a combination of quantitative and qualitative insights, businesses can gain a comprehensive understanding of their target market.
Ensuring Compliance Each and Every Time
As an ISO 27001 certified company, Borderless Access focuses on the safe and compliant management of sensitive B2B data. Since the nature of B2B data is sensitive in most cases, the platform takes stringent data protection measures like data encryption.
Moreover, we strictly regulate access to avoid unauthorized access. The focus on data protection promotes the element of trust among the panel members as well as our esteemed clientele. It also allows businesses to carry out research on B2B research panels without undermining sensitive information.
An online B2B panel provides an effective solution to research blind spots that are common by offering access to targeted business professionals. They assist brands in overcoming issues such as short-term research and competitive tunnel vision. Consequently, these panels assist companies in collecting genuine feedback that inspires innovation.
Borderless Access panels specifically excel through precision targeting, real-time insights, and quality assurance. This enables brands to make data-driven decisions that align with actual market needs rather than assumptions, leading to more successful B2B products and services.
FAQs
1. Which industries make the most use of digital panels?
Digital panels offer focused insights by segmenting respondents based on the specific industry and job titles. Companies which have to make complicated decisions are the ones who benefit the most from this approach. This includes businesses in the financial services and healthcare sectors.
2 . Are digital panels able to support both qualitative and quantitative research?
Yes! Online panels do provide mass-level surveys along with targeted discussions like in-depth interviews. The mixed approach provides a complete picture. This is because it reveals trends as well as the motivations underlying B2B decisions.
3 . How do online panels ensure data security?
Digital panels focus on the safe handling of sensitive B2B data. The platform imposes strict encryption. It also respects data protection law. These strategies instill trust and safeguard confidential business data when conducting research studies.
4 . What is the benefit of having real-time feedback in B2B research?
Real-time feedback allows agile product development. It also helps brands adjust their strategy. Compared to traditional research processes, online panels allow for quick data collection and analysis. This helps companies refine products to respond to market needs promptly.
