We Don’t Have the Budget for Research

You Can’t Afford Not to – Leveraging Market Research in your Go-To-Market Plan

This article was co-authored with Amy Marie Bergau.

As B2B companies look to expand their reach and drive growth, a well-crafted go-to-market (GTM) plan is essential. However, many organizations still overlook the critical role that market research can play in building an effective GTM strategy. I was fortunate enough to connect with George Kuhn, CEO of Drive Research to tap into why this is so important.

As a marketing leader, I can attest to the value that market research brings to the table. By arming our team with data-driven insights, we're able to make more informed decisions, optimize our messaging and channels, and ultimately, drive better results.

George noted, “As an owner of a market research organization, I've seen firsthand how gaining a deep understanding of the target market, customer needs, and competitive landscape can transform a GTM plan from good to great.”

Here are three key reasons why B2B companies should leverage market research when developing their go-to-market plan:

1. Customer Insights: Market research allows you to get inside the minds of your target customers. By conducting in-depth interviews, surveys, and focus groups, you can uncover their pain points, buying behaviors, and decision-making criteria. This intel is crucial for crafting a GTM strategy that resonates and addresses their specific needs. Outsourcing this function allows you to receive unbiased feedback. Can organizations do this on their own? Of course. Is it best practice? Absolutely not. An inherent bias exists when you’re surveying your own customers, they are often reluctant to be candid – it’s human nature. Using a third party helps add credibility, perspective, and validation to any research.
2. Competitive Analysis: Analyzing your competitors' offerings, pricing, marketing, and sales strategies can help you identify gaps in the market and differentiate your own value proposition. Market research can also reveal insights into how your target customers perceive the competition, empowering you to position your product or service more effectively. It can identify weaknesses of your competitors that may pair with our core competencies to create a clear roadmap to growth.
3. Data-Driven Decision-Making: Gone are the days of relying on gut instinct alone. Market research provides the quantitative and qualitative data you need to make informed, strategic decisions about your GTM plan. From determining the optimal pricing model to selecting the right marketing channels, research-backed insights can make all the difference. Rather than hiring a consultant to give you 1 single opinion, market research acquires unbiased options from dozens, hundreds, if not thousands of current and/or potential buyers to base your decisions on facts and evidence from those who matter most.

The bottom line is this: Market research is not a luxury, but a necessity for B2B companies looking to create a winning go-to-market strategy. Market research is the most critical competitive differentiator for top-performing brands. By investing in this essential step, you'll be better equipped to understand your market, outmaneuver the competition, and ultimately, drive sustainable growth.

To engage on a GTM research project, reach out to George at [email protected].

To engage with omnichannel B2B marketing consulting services, reach out to Amy at [email protected].