Qualitative Data Analysis: Best Research Method For B2B Business

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qualitative data analysis

Qualitative research is an integral part of a B2B business. Since B2B businesses have complex and niche markets. B2B customers need more convincing than a B2C business hence you require in-depth research. Since your customer pool is smaller you have more competition and your offer needs to stand out from the rest. In the B2B research scenarios, Qualitative data is given more preference over any other technique. 

What is Qualitative Data: This data is non-numerical. It provides in-depth and substantial data. One can collect this data by observation, focus groups, one-to-one interviews, open-ended survey questions, and similar methods. This method answers the “WHY” questions. A researcher needs to make sure that both regular and unique viewpoints are captured. Content analysis, identifying categories, themes and framework is carried out in this data. 

Since the complex nature of the business, a customer likes a personal approach. Through this method, you can build a closer relationship with your customer. The client will respond better if you interview them in a more personalized setting. This will help you identify certain behaviors or perceptions of buyers. Let’s find out more about using this technique to strengthen your business operations;

Discussion Guide: Follow a pattern of a questionnaire. Ask extensive questions at the beginning and then proceed to detailed questions. This is your checklist on covering topics and key questions. 

Plan: Since it requires interviewing decision-makers in the organization, you have to adapt yourself to their time schedules. Put them at ease and gather as much as professional expertise you can.

Listen: A major factor while accumulating qualitative data is to develop a sense of listening. Make sure to listen more and talk less. Notice their body language, or pay attention to their emotion. Go with the flow and not pressurize yourself on asking the next question on the questionnaire. 

Ask “Why”: The whole point of qualitative research is asking “Why?” Ask them why they are using their current sources and services and why they are different from your service. Make sure to clear any doubts you have. 

Be Unbiased: Remember that you are there for feedback and research purpose. If their opinion is different from yours do not take it personally and accept criticism. You can voice your point of view but subtly. 

Pay Attention To Words: Expressions and words are important. When you speak to them see how they talk about their product or services. Pay attention to phrases they use to describe their products, it can help in creating a personalized marketing plan.  

Use Audio Recorder: Using an audio recorder is important because you won’t be able to remember the details of the conversation. This will bring invaluable data research to life for your business.

Analysis: This is the final and most important part of your research. You will be having a lot of data to compile your research. Make sure to jot down 10 important points of the interview you conducted. This way while making an analysis report you have your key points in one place. Ideally, there would be more people who have conducted the interviews. Work together as a team and discuss all the findings you have received. 

Qualitative research takes a lot of time but you receive a lot of valuable inputs. This in-depth research will help you make personalized strategies for your prospects.