In 2020, the biotech industry experienced a boom in venture capitalist (VC) funding. Of course, that increase was spurred by the race to develop a COVID-19 vaccine. But even after vaccine rollouts, funding continued to climb in all areas of biotech until 2022. This year, funding dropped nearly 40 percent.
Strong and compelling recommendations should always be included in market research findings. Unfortunately, that’s not always the case.
At Cascade Insights, we always deliver recommendations – but we don’t just stop there. We take it one step further by helping you activate them. What might that look like? Well, we may develop messaging frameworks based on the message testing research that we’ve done. Or we could reset the content of your website based on the buyer’s journey research we’ve done. We may also help author content to reach specific buyer personas that came up during our buyer persona research.
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Market truths aren’t always self-evident. In fact, a few organizations actively resist the truth, in spite of the consequences. Some organizations believe in multiple truths and never settle on a single one. In other organizations, decision makers across different teams, from marketing, sales, and product development roles, might claim their truth is the reality at any given moment.
Fortunately, B2B market research can make market truths self-evident. High-quality market research can also come with well thought out conclusions and recommendations. These can push market truths into any room, discussion, zoom call, or boardroom, thereby helping any organization make wise decisions.
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Asking the right people to participate in your research study is just as important as designing and asking the right questions. You simply can’t have a successful market research project with a rushed recruiting effort at the start.
Sometimes, this means using a research vendor to assist with fielding the right participants. Vendors such as panel providers and expert networks are frequently tapped to identify respondents for research studies. But if you are using a research vendor and still throwing out a large number of respondents or are having trouble making sense of the data, it’s time to dig into the problem. And that may mean it’s time to switch to a new sample provider.
