When considering market opportunity research, you may think a straightforward quantitative survey is enough to get to know the landscape. But if you don’t understand why your customers think the way they do and the environments in which they operate, you can’t possibly have the whole picture, and you’ll end up creating a bad game plan.
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First impressions matter, especially in the B2B buyer’s journey. Buyers identify the problem or need their company is experiencing and begin exploring their vendor options. They swipe left or right on potential matches based on nothing more than what they see on vendors’ websites.
The amount of time a prospect spends on all of that content you’ve produced is minuscule compared to the time you spent developing it. For example, Google Analytics data suggests that a reasonable target for average session duration on a B2B website is two minutes.
So much like a social media or dating profile, your site needs to be engaging right from the start.
Finally, buyers spend nearly half of their B2B buyer’s journey flying solo. A 2019 study from Gartner shows that buyers spend nearly half (45 percent) of their time in the journey doing independent research. Many potential leads are lost in this phase—without sales or marketing even realizing it. Why? Because something makes that prospect swipe left before they ever fill out a contact form, send an email or pick up the phone.
If you’re a product person and you’re good at your job, you’re already listening to your customers. You might meet regularly with your sales team. Maybe you’ve even gotten a voice of the customer market research program implemented. But if you’re one of the 34% of product managers who frequently or always worries that you’re delivering features customers won’t use, you might need more granular customer input, like understanding customers’ jobs-to-be-done.
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B2B is a complex and challenging field, but most of all, it is fascinating. Join Sean Campbell, CEO of Cascade Insights, as he shares over 20 years of experience in the B2B market.