How business leaders ensure success with NewtonX research
| March 15, 2022
Accurate and reliable market research is your secret business weapon in making the right decisions that guarantee success.
Try to answer this question: “How can your company keep up furious innovation while remaining customer obsessed?” If you can’t give a confident answer, don’t fret — 78% of executives struggle with data-driven decisions. This is a problem, as only decisions based on accurate market data can ensure business success.
Additionally, more than a third of business leaders say they don’t have access to quality data to inform their decisions. NewtonX’s custom B2B research and strategic advisory services provide a solution that helps with both data access and decision making.
Stay ahead of your competitors
Business is a race to success. The company that makes the right decisions first has a significant advantage over their competitors. Additionally, in a crowded marketplace, insights from your customers are indispensable in fulfilling their needs before competing companies.
But more data doesn’t necessarily equal a bigger competitive advantage. Instead, it is the quality of the data that counts. Deep insights from niche professionals generate a bigger business impact than experts who aren’t familiar with the nuances of your specific challenges.
Take, for example, Microsoft as they were gearing up for the launch of a new cloud computing product. To this end, they needed the perspectives of power users and decision makers — people with robust expertise in their highly technical products.
To find the right professionals, we used our Custom Recruiting methodology. This technology scans 1.1 billion professional profiles to reach specialized knowledge you can’t find on Google. With our help, Microsoft got access to the niche cloud services professionals they require.
To source deep insights, NewtonX employed our qual-quant-qual (Q3) research process. We began with five qualitative interviews to formulate our research questions for a larger scale survey. This approach gave a broad overview of user and decision maker sentiment, as well as a granular look into the motivations of select sample professionals.
NewtonX delivered the survey to 50 professionals in the space — 10 qualitative one-hour interviews, which helped us formulate questions for 40 quantitative surveys — in under one week. Acting on this customer-oriented data helped inform Microsoft’s product strategy. Thanks to insights like these that have improved their decision-making, they’ve become a 2-trillion-dollar company.
Understand your user needs
As the previous examples already show, being in tune with your customer base is vital to guarantee business success. Most companies know this and run customer feedback studies to gauge customer attitudes and motivations. However, they often use limiting expert network panels or syndicated research reports that don’t address their specific questions.
As a result, you can miss out on valuable insights and opportunities. Large-scale custom business customer satisfaction surveys are a better solution. These in-depth, qualitative studies offer the optimal channel for you to hear and understand the voice of the customer.
Targeted surveys work for any industry and audience — even at massive scale. To illustrate, a major digital advertiser successfully implemented regulation-related changes to their product offerings with our help.
We surveyed 5,000 senior advertising decision makers from four continents to inform our client’s development decisions. The information helped them remain a leading player in their field while staying regulatorily compliant.
Invest in confidence
Most business decisions — from product launches to entering new markets — require significant investments. Every business, no matter their size, wants to see a return on that investment. Being confident about the market fit of your new ventures is paramount to business success — and requires deep expertise in the target market.
Unfortunately, confidence and expertise are difficult to come by. A leading venture capital firm found this out the hard way. They needed information from professionals with intimate knowledge of cryptocurrency exchange structures before investing in it.
However, their own B2B research efforts couldn’t reach people with sufficient expertise. Fortunately, they heard of NewtonX Knowledge Graph’s ability to reach 1.1 billion global professionals. To find the needle in the haystack of deep crypto knowledge, they asked us for assistance.
We recruited 10 founding blockchain leaders and experts and confirmed their credentials with our two-step verification process. Out of these professionals, our client handpicked one to provide an in-depth 1:1 consultation on crypto infrastructure and adoption challenges.
Based on the consultation, they could make an informed investment decision. Not only that, they gained high-quality talent — the professional we recruited is now a C-suite executive at the company.
Become a change agent
Innovation does more than just show off your creativity. It helps you anticipate changes in the marketplace. Proactive, instead of reactive, decision making positions your company for success.
When you stay ahead of the curve, you can tackle new opportunities before your competitors. You can also establish yourself as an agent of change — someone who knows what the future will bring. You don’t need a crystal ball to achieve this, but you do need good data.
Our Custom Recruiting can get to even the most challenging and notoriously difficult-to-reach professionals. Innovation insights from these professionals can help you implement cutting-edge technologies, boost sales with forward-thinking advertising campaigns, and attract top talent to your company.
Actionable data guarantees business success
There is one clear metric to measure the quality of B2B insights — business impact. No matter the industry or business model, companies need actionable data to get the highest return from potentially multimillion-dollar decisions. But as numbers show, traditional B2B research methods fail to deliver such data.
Reliable market research does more than empower your organization to make better decisions faster. It allows you to reach information and professionals that have been impossible to get a hold of before.
The lack of accessibility has been due to multiple compounding pain points. Traditional B2B panels aren’t enough to connect to reliable professionals, while syndicated research reports are rarely relevant. Yet companies have relied on them because the technology to easily reach quality data simply hasn’t existed — until now.
NewtonX is the only B2B market research company enabling access to 100% verified, deep insights from the best minds in any industry. Our AI-driven technology can position your business to become a data-driven thought and innovation leader in challenging sectors. When you need to make informed business decisions, our Custom Recruiting can provide the data you need to ensure your success.
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