The transition to adaptable and remote work arrangements has undeniably transformed B2B market research, presenting various opportunities alongside some challenges.
Ten years ago, the conventional approach included gathering company names and phone numbers, allowing interviewers to connect and identify the right contact person within those organisations. Nevertheless, as time has passed, this task has grown more challenging, prompting Critical to allocate resources for establishing a feasible alternative.
Fortunately, specialised panels featuring thoroughly screened and validated B2B participants have been developed, providing a representative sample of companies across various industries, products, and services. A major advantage of the panel approach over the traditional telephone method used a decade ago is its speed and cost-effectiveness in achieving large numbers of interviews.
We have just finished another round of our SME Confidence survey for Bibby Financial Services, and the findings are available here.
This research is carried out online by Critical, gathering insights from 1,000 top-level decision-makers. This year marks the 9th year of the tracker and recent findings show increased confidence amongst SMEs over growth targets and ambitions for the next 12 months Although it’s worth noting that this was conducted ahead of the most recent budget.
The principles of conducting online interviews are similar to those of consumer interviews, and we still follow a rigorous QC process with multiple steps. Additionally, we ask specific questions to ensure respondents are the target audience and are genuine decision-makers. For example, questions might include those testing turnovers, the number of employees, and amounts invoiced in the past month..
Contact Steve Pick to find out more about our research in this area.
Below we delve further into some of the key impacts of the change to working patterns:
1. Changes in Respondent Behaviour
- Less In-Person Interaction: Traditional methods of conducting B2B market research, such as face-to-face interviews, are less feasible due to remote work trends. This limits the ability to engage in deeper, more nuanced conversations that are possible when meeting respondents in person.
- Increased Use of Digital Platforms: As a result of remote work, surveys, online interviews, and digital tools have become more central in gathering insights. While this expands reach and access, it may reduce the quality of insights compared to in-person discussions.
- Time Zones and Availability: Remote working, especially across global teams, has led to more scattered work hours. It can be challenging to coordinate research with B2B respondents across different time zones, potentially impacting response rates and the timeliness of research findings.
2. Impact on Data Collection
- Data Saturation: The rise of digital communication means that people are bombarded with surveys, emails, and other research instruments. This “survey fatigue” can reduce the willingness of professionals to engage with market research, leading to lower response rates and less reliable data.
- Access to Decision-Makers: Many business leaders and decision-makers who once had a consistent presence in the office are now working from home. Reaching these high-level individuals can be more difficult, especially if they are working on varied schedules or are less accessible due to virtual environments.
3. Technology and Tools
- Adoption of Remote Research Tools: Remote work has driven B2B market researchers to adopt new tools and platforms for conducting research. Webinars, online focus groups, video interviews, and collaborative platforms like Slack and Microsoft Teams have become vital for gathering insights. However, researchers must be proficient with these technologies, and there is always the risk of technical issues impacting the research process.
- Automation and AI: Increased reliance on remote working has also increased the adoption of automated survey tools and AI-driven analysis. These technologies can process large volumes of data efficiently but may lack the ability to capture deeper emotional or qualitative insights that human researchers could glean through face-to-face interactions.
4. Shifts in Consumer and Business Needs
- Evolving Business Environments: Businesses have adapted to remote work in different ways, which may alter their needs and priorities. B2B market research now has to account for the fact that many businesses are still navigating hybrid models, with some employees in the office and others working remotely. Understanding this new dynamic requires different approaches to data gathering and analysis.
- Focus on Remote Tools and Collaboration: Research needs to reflect how businesses are increasingly investing in tools that support remote collaboration, cloud computing, and virtual management. Understanding the adoption patterns of these tools and their effectiveness has become a key focus for market researchers.
5. Privacy and Security Concerns
- Increased Scrutiny of Data: Remote work often means that employees are using personal devices and home networks to access work materials. This raises concerns about the security and privacy of data collected during B2B research. Ensuring compliance with data protection regulations (such as GDPR) is crucial, especially as researchers rely more heavily on digital channels to gather insights.
- Cybersecurity Risks: The increased use of digital platforms for B2B market research also exposes organisations to greater cybersecurity risks. Researchers must be mindful of potential data breaches or hacks when conducting virtual interviews, online surveys, and other forms of remote research.
6. Need for New Methodologies
- Adapting to Remote Formats: Traditional market research methodologies (e.g., in-depth interviews, focus groups, and site visits) may not be suitable for a remote-first world. Researchers must adjust their methods to accommodate virtual formats, ensuring that they still capture rich, actionable insights.
- Virtual Focus Groups: Focus groups that once required physical presence now often take place in virtual spaces. This shift may limit the ability to observe body language and other non-verbal cues, which can sometimes be critical for understanding the nuances of business decision-making.
7. Opportunity for Expanded Reach
- Global Access: One positive aspect of the remote working shift is the ability to conduct B2B research on a global scale more easily. Digital tools and platforms allow researchers to connect with respondents in different regions or countries without the need for expensive travel or physical presence.
- Increased Panel Diversity: The ability to reach workers from various geographic locations or industries who are now working remotely can help market researchers gather a more diverse set of perspectives, which can lead to more comprehensive insights.
Conclusion
The shift towards remote and flexible working patterns has reshaped the landscape of B2B market research in significant ways. While there are notable benefits, such as expanded reach and increased access to technology, challenges such as respondent engagement, data collection, and technological limitations need to be carefully navigated. B2B market researchers must be agile, adopting new tools and methodologies while ensuring the integrity of their research processes in this evolving work environment.
