8 signs it’s time to hire a B2B market research firm

| July 6, 2021

As the world’s leading B2B research company, NewtonX is the partner of choice for business leaders who want to make confident decisions and drive success in their organization.

An organization should consider bringing in a market research firm if they:

Lack internal resources to provide full-time research or marketing support. For example, the company has no marketing staff to conduct primary research, analyze incoming market intelligence and develop strategies. This type of service is usually performed by independent consultants “in house” for distribution to corporate management teams
Need to get insights from professionals who are experts in their field (domain expertise)

Want to create a unique, innovative approach to getting market intelligence insights and B2B marketing (fresh perspective)

Need an outside team to analyze data from a research study and create a deck of high level insights and charts for decision-making (no internal capabilities)

Have industry analysts who are not providing accurate enough reports and data (usual go-to data sources have run dry or not specific enough to meet the problem at hand.)

Need to perform a search for professional knowledge beyond traditional “closed group” panels (need a b2b panel or b2b survey)For example, specialized technology companies often rely on NewtonX to target professionals who have specific knowledge about industries or technologies for insight into markets that aren’t covered by traditional data aggregators

What Newton X has to offer:
Go fast – Tap into over 1.1 billion professionals through the NewtonX Graph. Connect with decision-makers across 140 industries to answer any kind of business challenge. We’ll connect you with key business influencers within your target market.

Go far – Any organization should hire an external market research firm when it is looking for a long-term reliable strategic partner to boost their brand’s demand and growth.

Go longer – An external research firm will help your business accomplish your short-term and long-term goals by recognizing and capitalizing on market trends, targeting the right prospects, getting more from your current customers and informing go-to-market strategy.

Go deep – An organization should hire an external research firm when its business is not achieving desired results. If you are looking for guidance on a difficult new product decision or to address a current business challenge, NewtonX can help find the answer.

Ex: A top gaming company wanted to understand how they could better attract and retain tech talent. Newtonx recommended a qualitative (interviews) and quantitative (survey) study so they could get insights from competing tech talent at other top tech companies, like Google. As a result, the gaming company could better understand their preferences and remain competitive..

Go with the flow – Much like living organisms in nature, markets evolve rapidly and conditions change quickly; outsourcing B2B research allows corporations with limited resources to run NewtonX tracker studies. Trackers are usually quantitative surveys following a population over a period of time.

To see how much value added services deliver isn’t based solely upon costs. Consider the following:

Total net present values of projects deferred

Cost of delayed ramp up and deployment of marketing research efforts

Lack of same results with same money spent due to existing network and proprietary software

Tying up the engineering team for deployment or cost of outsourcing IT resources

Value of highest quality results for your business goal. What is the cost of bad data if you want to launch a new product? How much more market share will you capture with the best possible information?

Cost of getting it wrong and failing. What is at risk with the wrong information? (This includes running a study internally and not finding enough samples or choosing the wrong partner for the need.

Cost of taking internal resources and pulling them away from other projects to do research.

It’s clear NewtonX can provide value far beyond the cost of research. The market opportunity is often 50x the cost of the research. Getting high quality responses from the exact professionals you need will have a compounding impact on the business.

As the world’s leading B2B research company, NewtonX is the partner of choice for business leaders who want to make confident decisions and drive success in their organization.
Our proprietary, AI-driven NewtonX Knowledge Graph scans and verifies an open network of 1.1 billion professionals across 140 industries to find insights and answers to any business question. We go to every corner of the world to connect you with the right sources, delivering 100% verified professionals to give your thinking a flawless foundation.

Have your next question in mind? Talk to us.

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