B2B MARKET RESEARCH – KNOW WHAT THE FUTURE HOLDS

B2B market research, also known as industry research, is the field that points the way towards the right business decisions. If you are looking to expand within your market, or to open up new markets, you need very specific information about how the market will develop. B2B market research offers you the opportunity to get this information.

When it comes to new target groups, entering international markets or developing new products – as well as their positioning and distribution channels – industry research can be used to prepare reliable and robust sales market analyses. B2B market research findings are the backbone of market analyses used for formulating, revising or continuing business strategies. Findings about market size, opportunity and development also lay the foundation for strategic decision-making.


GROWING B2B SECTOR

Anyone who has set their sights firmly on the B2B sector and has access to current information about potential clients and their needs has carved out a competitive advantage for themselves. B2B markets are experiencing an above average rate of growth and change. Because of the underlying megatrends – and their implications – that shape them, individual market segments need to be constantly redefined. Targeted market research is invaluable for those looking to understand and take advantage of the mechanisms and trends in the B2B sector. The B2B market has truly changed over the past several years, a development that in part can be traced back to the dramatic digital transformation gripping companies across every industry.

It is safe to assume that the significance of the B2B sector will continue to experience outsized growth compared to overall economic performance. At the same time, Germany will continue to face increasing pressure from and growing dependence on globalisation. That is why companies need to constantly monitor their position in the market and keep an eye on international developments.

Current studies underscore the rising significance of the B2B sector:
“Success of AI based businesses is mainly a function of access to data. The best entrepreneurs obtain access to proprietary data to facilitate product innovation and improvement. In a B2B context, this often happens in partnership with customers and therefore the more users a start-up has, the stronger its product becomes.” Mark Schmitz | BVK (from: Venture capital and start-ups in Germany 2019)

Particularly for the critical German mechanical and systems engineering sector, the challenges are enormous to persevere in the race for innovation in an increasingly digitalised and interconnected world. But digitalisation and industry 4.0 will continue to be important issues for many other sectors as well, including the construction industry. Digital business models and new competitors in digital platforms will disrupt markets for the long term.

Growing significance of e-commerce in the B2B sector
Turnover in B2B online retail in Germany was roughly EUR 1.3 trillion in 2018. Roughly one quarter of the total revenue (EUR 320 billion) was generated via websites, online shops and marketplaces (not including EDI). A major share of the overall revenue was accounted for, however, by automated processes where B2B transactions were carried out using an electronic data interchange (EDI). (Source: https://de.statista.com/themen/5485/b2b-e-commerce-in-deutschland/)

©epic_fail, iStockphoto.com/SVP

In this context, the rising importance of the B2B sector means that there is now market potential that makes professional B2B market research more valuable than ever before for every company in the industrial market.

SVP’S B2B MARKET RESEARCH

SVP enjoys exceptional expertise in market analysis and market monitoring in the B2B segment. Yet we are much more than a B2B market research agency: our experts leverage over 35 years of market intelligence experience for roughly a dozen different industries. While one aspect of our business is gathering market and industry information, analysing the underlying contexts is also critically important.

“Our clients want to know why something has changed and what we would recommend,” says Yvonne Jacoby, Head of Market Intelligence.

COMPETENCE AND METHODS

One common method SVP’s market intelligence experts use to collect market information is interviewing experts over the phone. Expert interviews are common in B2B market research; it is a method that involves small case numbers (small sample sizes), but also qualitative discussions. We also conduct data analyses based on database research, including subscription-based databases that are not available on public websites, which is why many companies cannot access them. The results of our B2B market analyses are always SVP: Sound, Verifiable, Precise.

SVP Secondary Market Research – Speedy. Verified. Profitable.

We are desk research specialists and well versed in all the relevant sources. Using international databases – including Bureau van Dijk, Bisnode, LexisNexis, Genios and many more – as well as statistical or other sector-specific platforms to analyse existing data and information is our daily business.

Expert Interviews – Specific. Vetted. Personal.

Using in-depth telephone interviews with industry experts and associations (to name a few) to gather reliable information about trends and innovations is essential to keeping up to date. We also verify desk research findings or deliver market data tailored to customer requests as needed.

THE FOUNDATION FOR MI

Our B2B market research serves as the informational foundation for SVP Market Intelligence that can provide you with recommended actions for your strategic decisions. In B2B market intelligence, we conduct expert interviews to get high-quality substantive information. We go beyond the basic indicators from conventional B2B market research and use expert interviews to generate a bespoke data framework from which we can derive strategic recommendations for action.

This means that SVP B2B market research allows you to benefit not just directly from the current information, but business development will also receive recommendations that can serve as the backbone for formulating a sound long-term corporate strategy. That is especially critical when you are looking to expand your business and are planning to enter new business areas.

Advantages and strengths of SVP industry research

  • We have more than 35 years of market research experience and can access over 320 databases, including niche trade databases.
  • SVP market intelligence experts use international specialised knowledge about the particularities of B2B markets by reaching out to local network partners in over 50 different countries.
  • SVP makes use of personally conducted expert interviews to validate and expand on market research indicators.
  • SVP’s B2B market research lays the groundwork for using market intelligence tools.
  • We always tailor how we work to our customers’ needs and consider their individual company situation in our analyses. Market potential and competitor analyses build on this to provide you with valuable recommendations for your future strategic orientation.

PRACTICAL EXAMPLES

Below are sample questions and instructions from our clients to show you what SVP market research can deliver in different B2B sectors. You will see how SVP’s expertise in industry research can be used in practice and the advantages it can offer you.

These are just some of the questions B2B market research can answer for you:

  • What are alternative or further potential target industries?
  • Who are the market participants and what are their strengths and weaknesses?
  • How great is the market potential and what trends are shaping the different industrial sectors?
  • What are the target customers’ needs?
  • What sales channels are there and how are they weighted, including social media channels?
  • Using a market participant and market analysis, the drive systems manufacturer is able to plan its future position on the market and align its product and service offerings accordingly.

Sample excerpt: After identifying and prioritizing potential target industries, the relevant market participants in a selected target industry were analyzed. The companies were examined and evaluated on the basis of a SWOT analysis. One focus was the analysis of the service and product portfolio. The type of service was also categorised (product adaptation or logistical service) and investigated in terms of depth and added value. Competitive benchmarking makes it possible to report whether there are good opportunities to edge out existing competitors and gain sufficient market share. By way of example, the graphic here would enable the drive manufacturer to see how the competitors are positioned.

In this case, industry research helps you to clarify a variety of issues such as:

  • What are the regions that, due to the target industries established there, offer the greatest potential and how are they structured in each case?
  • What players are currently supplying my target customers and what products and criteria do your target clients base their purchasing decisions on?
  • What market developments and trends are shaping the relevant industries in the most important countries?
  • What does the competitive landscape look like and what industries are supplied by competitors?

Sample excerpt: The sector in NAFTA was outlined based on an analysis of national special-purpose engineering companies (anonymised specialism) without foreign subsidiaries. Special-purpose engineering companies in NAFTA generally tend to be smaller-sized US companies with 10 to 200 employees, with the majority having less than 100 employees. They are usually owner-operated companies and often have only one location. The regional distribution of the 50 companies analysed is shown in the graphic.
Graphic: Regional distribution of special-purpose engineering companies (anonymised specialism) in NAFTA.

TARGETED MARKETING

Beyond a traditional market analysis, very clear investigations that are of tremendous relevance for companies can also be done as part of B2B market research. SVP uses specific analyses to generate an exact profile of clients, stakeholders and images.

Customer satisfaction analysis

How satisfied are your customers with your products and service? It is worth taking a close look at this issue in B2B market research. The results of a customer satisfaction analysis (online survey supported by interviews) can serve as an important foundation for developing your products and services. If you know your clients’ needs, you can tailor your product range to their requirements and those of the market. Products that are developed closely in line with client needs lay the cornerstone for a company’s success.

Stakeholder mapping

When entering a market, whether with new products or services, different actors and institutions play a role. The important thing is to know these market participants very well in order to gauge market entry prospects and respond accordingly. SVP uses modern network analyses methods so that relevant institutions and actors can be:

  • identified – relevant groups, organisations and persons
  • analysed – interests and perspectives of identified stakeholders
  • mapped – visualising the relationships between the stakeholders
  • prioritised – ranking the stakeholder relevance

Summary

SVP’s B2B market research not only empowers you to make the right strategic decisions, more effectively tailor marketing and realise greater efficiency in sales – everything that gives you more information about markets, trends, your clients, other market participants, other applications and new technologies – but we also use targeted market intelligence tools for ongoing B2B market monitoring so that you can react quickly to new developments.

Get to know our industry experts

Every SVP experts has many years of experience in preparing market analyses and has specific industry knowledge. Get in touch with us, we will recommend the right MI experts for your industry.