B2B vs. B2C Research

Consumer research and enterprise research are two distinct fields of study that focus on different aspects of the market and target different audiences. While both consumer (B2C) and enterprise (B2B) research are important for businesses, they differ in terms of the target audience, research methodologies, and the specific insights they provide. 

Consumer research is simpler as you try to understand just one person’s needs, opinions, experiences, vs B2B research where many peoples’ needs, opinions, experiences intersect in complex ways. In the case of B2B, the different individuals may represent different departments or roles, but are working for the same organization with shared goals. As a result, decision making is complex, often taking place over a period of time.  For these reasons, B2B research is inherently different and requires a different set of skills and thinking.  

Let’s explore three things you need to think about when doing B2B research:

#1: Target Audience and Methodology: 

You have a much smaller pool of respondents available in case of B2B. Because you want to talk to individuals within specific types of organizations with specific roles, it limits how many people are available to begin with. For example, if you want to do research on toothpaste, practically the whole world could be your target (except maybe, babies.) But, if your research is about a piece of machinery, that would limit who you target based on the type of machinery, which industry uses it and where.    

How you conduct research is dependent on the nature of the business organization and the research objectives. B2B research involves comprehensive objectives that necessitate the utilization of multiple tools and methodological approaches to address them. To illustrate, a project may commence with a strategic workshop, followed by qualitative depth interviews and focus groups. If the target audience is geographically diverse, online focus groups or online in-depth interviews may be necessary.

#2: Types of Research for B2B:

While the end goal for any research is to understand customers better, there are some types of research that are more prevalent in B2B vs. B2C. 

In case of B2B, the key areas could include (to name a few):

• Market analysis: Evaluating the size, growth rate, and competitive landscape of specific industries or market segments, trends etc.

• Customer experience / Customer relationship management: Understanding how organizations establish and maintain relationships with their business clients and identifying factors that drive customer loyalty.

For B2C, it can be (to illustrate a few):

• Consumer behavior analysis: Studying how consumers make purchase decisions, their motivations, and the factors that influence their choices.

• Product testing and development: Conducting research to gauge consumer responses to new products or modifications to existing ones.

Strategic Impact of B2B Research:

B2B purchasing decisions typically involve multiple stakeholders, longer sales cycles, and higher financial stakes compared to B2C transactions. B2B research may need to delve into the complex dynamics of decision-making units, procurement processes, and the specific needs and preferences of different decision-makers within an organization. The strategic nature of B2B research lies in uncovering insights that guide businesses in effectively navigating these complexities and tailoring their strategies to win B2B customers.

B2B relationships are typically characterized by longer-term partnerships and a higher degree of interdependence between buyers and sellers. B2B research often focuses on building and nurturing these relationships, understanding customer satisfaction, loyalty drivers, and opportunities for cross-selling or upselling. The strategic impact of B2B research lies in helping businesses develop customer-centric strategies, enhance customer experiences, and establish strong and mutually beneficial relationships with their B2B customers.

The post B2B vs. B2C Research first appeared on KVERGE.