Competitive benchmarking requires comprehensive and accurate information. We recommend a combination of qualitative and quantitative approaches. Qualitative approaches can provide metrics around sales volume, share of market, and pricing. Qualitative approaches give you in-depth insights into what customers value, their pain points, and future needs. Examples of these approaches include:
For competitive research to be truly useful, you will need to find, recruit and engage very specific groups of respondents. You need people with first-hand, in-depth, and recent market knowledge.
Finding customers, employees, agencies, and distributors who can provide insights straight from the source is not a simple task.
That is why NewtonX has reinvented B2B market research using technology like AI and automation. We know how to find the exact right minds and then apply the most efficient approaches for competitive benchmarking research.
Done well, competitive research gives your company the edge in profit margin, expanding market share, increasing revenue, and winning customers.
It’s time for a sea change in how market research happens.
read morePoor quality data costs the US $3 trillion each year. There has to be a better way, and we believe we've found it. Read on.
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