How expert network companies boost your business strategy

An expert network is key to empower high-stakes business decisions. That said, getting information about highly niche, industry specific subject matters is rarely easy. Expert network companies can help you access these kinds of insights that more general market research surveys or panels miss. Using expert networks can shape your business strategy with insights you need to make the best decisions possible.

Why should you consider expert network companies?

Expert network companies curate subject matter experts who have niche knowledge specific to your business needs. Other common research techniques like focus groups or panels can be helpful for B2C insights. However, they aren’t as strong when it comes to connecting businesses with experts to help answer niche business questions. Expert networks, on the other hand, are designed with B2B research in mind.

Hiring independent consultants one by one is a common way to get high-quality insights. Expert network companies, however, are the better option. They save you the work of recruiting niche experts and take away the guesswork and finding qualified consultants. 

When should you consult with an expert network?

Regardless of your industry or the problems you’re trying to solve, an expert network can help guide you through your most important business decisions.

Product development

Microsoft was considering a new SaaS cloud solution for their enterprise customers. Before starting development, they needed to validate customer pain points and needs. It wasn’t easy to find the CTOs and other IT directors on consumer market research panels. They turned to an expert network company instead. They were able to connect with people with the deepest working understanding of the current state of cloud services whose insights could help reshape product strategy development.

Voice of customer

When developing a new product or entering a new market, you need to understand the pain points and needs of your customers. Expert network companies can help. NewtonX worked with a prominent ad tech company to find a niche audience of advertising and marketing professionals. Our network put them in touch with the ad buyers and advertising and marketing professionals who could offer the freshest insights for their product innovation planning.

Competitive intelligence and benchmarking

Expert networks can help you understand your competitors’ strategy, performance and results.  With these insights, you can fine tune your own strategy to get a leg up on the competition and plan for long-term success. For example, say a venture capitalist assessing a startup investment wants to understand the competitive landscape to mitigate risk. Getting insights from an expert network would give the investor insights into what might work in the market and whether it was worth investing in the startup.

Interested in learning more about our B2B market research company or how expert networks can support better business decisions for your organization? Get in touch today.