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Secondary market research involves utilizing preexisting data and insights gathered from various sources in the past. Unlike primaryresearch, which gathers new and original data through surveys or experiments, secondary research relies on already available information. But why is it so important, exactly?
How could we support our sales team? Your answers to these questions should give you some idea of the scope of your research. For most companies, this means creating a spreadsheet and starting your secondary research. Secondary and primaryresearch At Aqute Intelligence, we use a two-stage approach to data gathering.
Primary methods involve direct interaction and observation, while secondary methods focus on analyzing existing published information. Let's dive into the details of each approach: Primary sources and fieldwork: Direct observation and interaction Primaryresearch, or fieldwork, is the most direct way to gather competitor pricing intelligence.
Aqute’s research team is skilled at using a systematic approach to data collection. 4: Proven methods Our clients use our reports as the basis for sales meetings and strategy development. But our clients know they can trust our research and use it as the basic for major strategic and tactical decisions.
As a primaryresearcher, I look for ways to motivate people to share. While the book focuses on closing sales, the same tactics will work to promote sharing when conducting competitive intelligence collection or Win Loss interviews. Let employees create and have access to customer, sales and market intelligence.
Here are some fascinating stats speaking to the importance of good market research: 40% of marketers are using consumer research to make decisions. Nearly 90% of marketers , across all types of organizations, agree that understanding user journeys across channels and devices is critical to converting sales. PrimaryResearch.
Sales Data. To add to the above, you’ll need both primary and secondary research. Instead, think of your secondary research as informing you for your primaryresearch. PrimaryResearch: This type of research is research you do yourself, or hire someone to do for you.
Primary vs. secondary research. The difference between primary and secondary research lies in how involved the researcher is in the data collection process. Secondary research, also referred to as desk research, is where the organization finds already collected data and analyzes it to find the information needed.
This requires that organizations make decisions that are informed by secondary data, and targeted primaryresearch. Erik Glitman has over three decades of experience in consulting and managing key competitive and market insights research to support clients’ strategic planning, sales, marketing, and growth initiatives.
As a primaryresearch expert, I am always looking to for ways to motivate others to share. While the book focuses on closing sales deals, the same tactics will work to promote sharing when conducting competitive intelligence collection or win/loss interviews. So much about life revolves around effective communication.
These technological innovations allow business to access large and complex datasets in an organized and digestible form that allows them to conduct faster primaryresearch and develop better business strategies. Maximize your primaryresearch with the full value of AlphaSense as your one-stop-shop for business intelligence.
Plus with lower cost per one-on-one call, Expert Insights is the ultimate primaryresearch package to optimize your research budget and maximize your ROI. Although thousands of interview transcripts are added per month in AlphaSense’s ever-growing library, the monthly subscription is a fixed rate.
In our experience, effective competitive intelligence integrates information from both primaryresearch and secondary monitoring. Result-oriented competitive intelligence teams discover these signals from secondary monitoring and then validate their credibility using primaryresearch. Information from PrimaryResearch.
Approach Given the limited availability of publicly available information on the privately held target company, Fuld initially focused on primaryresearch. In addition, we developed a comprehensive desk research strategy using both publicly available information and subscription-based databases.
Central to Hill’s work is driving field sales and developing key tactics, according to his LinkedIn profile. Before that, he was a project manager for Aragon Consulting Group, where he led primaryresearch projects for clients such as Chicago Tribune, Ladies’ Home Journal, MORE Magazine, Toyota and Pacific Gas & Electric.
Now, imagine you’re an executive relying on Battle Cards full of generic, off-the-shelf information to guide your sales team. It’s easy to think you have all the answers when you’re not on the field. The result? A lack of competitive edge that could cost you the game—no, the entire season.
Now, imagine you’re an executive relying on Battle Cards full of generic, off-the-shelf information to guide your sales team. It’s easy to think you have all the answers when you’re not on the field. The result? A lack of competitive edge that could cost you the game—no, the entire season.
The webinar focused on the evolving nature of competitive market intelligence and provided an essential guide to business professionals for augmenting growth with the integration of ‘Primary and Secondary’ intelligence advantage.
COVID-19 highlighted the importance of having a solid understanding of global supply chains, remote working trends, sales and marketing constraints, the effectiveness of personal protective equipment, and the impact of social distancing on consumer behavior, and much more.
Another pivotal part of any informative market research presentation, your NPS Score will tell you how likely a customer is to recommend your brand to their peers. When you’re considering how to present market research effectively, this balanced KPI offers a masterclass.
Executive Program FOUNDATIONS OF WIN/LOSS June 24,25,26, 2024 (11AM to 2PM EST each day) Win/Loss analysis is a powerful tool that can help you improve your sales win rates. This workshop will teach you how to collect and analyze data to improve your sales win rates. WORKSHOP OFFERINGS!
Executive Program FOUNDATIONS OF WIN/LOSS June 24,25,26, 2024 (11AM to 2PM EST each day) Win/Loss analysis is a powerful tool that can help you improve your sales win rates. This workshop will teach you how to collect and analyze data to improve your sales win rates. WORKSHOP OFFERINGS!
Internal stakeholders like your executive team, sales team, and product teams want information about how your competitors are identifying and solving problems like the ones your organization may be facing. Sales teams may use these insights to craft better objection handling, influence their outbound strategies, and target new prospects.
It’s about the primary data that’s collected and then really trying to triangulate truth even though sometimes it’s a lot more than three points. [01:42] Primaryresearch happens to be a big one but, again, a lot of the topics people are talking about at the conference today are other sources of data: secondary data, partner data.
What are their annual sales and revenue figures? Quantitative data may include their financial information, sales or revenue, employee count, and many more. This leads to a faster, more intelligent primaryresearch and solid competitive strategy. What advantages do they have that I don't have? Who are their clients?
00:01:51] Jamin: Market research, user experience research, customer experience, all of these, all three of these disciplines are focused on primaryresearch, so getting to the heart of the consumer. And of course they incorporate external data to help supplement and understand and provide context for our insights.
“Develop holistic perspectives by combining raw data, primaryresearch (qualitative and quantitative), and secondary research, and distilling them into actionable insights to guide business decision making.”. Support enablement and training activities for sales, presales , professional services, and partners.
I remember my first project, an intense primaryresearch project that was all-hands on deck. We had colleagues from India, from Brazil, from Chile, from other Latin American countries as well. So right off the bat, it just pumped me up. It was a different type of energy from any other company that I worked in before.
Charlotte Langley, Brand & Communications Director at Bloom & Wild As Charlotte says, the insights helped the brand grow sales 4x and receive 51% more press coverage with the No Red Roses campaign. Surveymonkey SurveyMonkey is a market research leader specializing in online surveys. for strategic market research for branding.
Battlecards are an essential tool within a competitive analysis framework, providing sales teams with the insights they need to navigate competitive situations effectively. This not only improves sales performance but also reinforces the company’s competitive positioning in the market.
Their custom research capabilities are ideal for brands looking to conduct in-depth studies on the web, face-to-face, or via focus groups. The team is also efficient at offering database services to help you with address standardization, sales tracking, and more.
Like these intrinsic sort of drivers that never really surface or even are articulated in the sales process. And also, one of the things I always build in is time to get clarity and buy in from everyone on what the research objective is. And there can only be one primaryresearch objective and there can be two or three secondary.
Bridge the pricing gap with data-driven insights from TBR Introduction In the absence of validated data, many professional and IT services firms rely on pricing strategies of the past and anecdotal, and often biased, inputs from field sales and partners within their ecosystem.
Practical Insight: Primaryresearch is the best way to uncover the market factors that will impact your product. Consider primaryresearch with current and former competitive employees to drive better results. Are your sales and marketing teams working in harmony? Are they targeting a specific segment?
I had been asked to lead a study to understand how big box store sales personnel were motivated to promote one brand of consumer electronics product over others. Ironically, the most effective method came down to something as simple and fundamental as showing up with pizza and conducting Lunch and Learn events for the sales staff.
For example, picking only a good-performing month to build a sales report will portray a misleading picture about the overall sales performance. As an entrepreneur and former consultant Mark Suster advises in an article , you should wonder who did the primaryresearch of said analysis.
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