Introduction
Quantitative insights in B2B helps in decision making. They are more controlled questions which are asked and how they are asked. Thus, if you get greater responses, it is easier to compare responses between different decision-makers.
Qualitative analysis evidence are more dependent since they are mathematically analyzed facts while quantitative analysis are more opinionated information.
This article is going to analyze B2B Quantitative verses Qualitative insights
Quantitative insights Verses qualitative insights undertaken
Product performance
Quantitative insights are critical for helping B2B businesses to understand the demand to the product. With these insights it is easier for B2B businesses to estimate the performance of the product and the potential profit it might generate.
Pricing
With quantitative insights it is easier to understand the best way to price an existing or new product. Qualitative research can also give some rough guidance, but pricing decisions should be taken unless from a large large number of the target customers.
Brand Perception
Brand perception is the realization of how your B2B business is viewed in the market. Also knowing how your brand is thought of in the market. Both qualitative and quantitative insight gives this perceptionbut, you need a technique that can provide you this information and can be measured from time to time and this is quantitative research.
Market Changes
With so much market changes and trends quantitative insights is essential because it allows you to measure a number of things in regards to their consistency.
Customer feedback
Quantitative research will help you know how people might react to your products, which can be useful to decide whether to improve them or not.
Qualitative research will give an outlook on why they react as they do, which can help to guide what needs to change to improve the products.
B2B Competition
If you’re going to have a greater market position you need a deep understanding of the target market’s needs and wants.
This can only be achieved through qualitative research.
Quantitative analysis will also be of importance to support the qualitative findings.
Market segmentation
with market insights you can only build customer segments in terms of their wants and need.
Knowing and understanding the needs and behavior patterns of your customers helps to sort them in categories in order to ensure each one of them is recognized during the development stage and that’s where qualitative research comes in.
Customer Insights on future sales
Customer’s insight on B2B business can give a forecast of your customers that might have insights about their future buying patterns to produce a forecast.
Customer might give insights on when something will happen to the business through their feedbacks and monitoring their purchase behaviors.
Conclusion
Customer’s feedback gives you insights for planning on and strategic positioning for B2B businesses.
Customers input are the key to track B2B performance and for growth thus qualitative and quantitative techniques should come in handy to achieve this.
There are other methods of collecting qualitative and quantitative insights through your retailers, representative and even suppliers.