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We discuss the dos and don'ts for a data survey by a B2B panel provider
Have you ever wondered what a B2B panel provider does? A B2B panel provider is an online survey solution that gathers a pool of relevant respondents. They take over the survey conducting process, from start to finish. B2B surveys are usually conducted to gather insights from working professionals about various subjects. These could be buying journey insights, preferences on products and services, market entry, etc.
Essentially, a B2B panel provider conducts market research for PE firms, Consulting companies, Venture Capital firms, etc. All industries, be it healthcare or information technology need some kind of market research. For instance, a hospital may want to know who the best supplier is for a CT scan machine. In this case, they partner up with a B2B panel provider to get data on vendors, pricing, and features.
Now that we know what a B2B panel provider is, let’s talk about how to choose one.
It is important to choose the correct B2B panel provider for you. Market research is a very costly process to undertake. If you do not get actionable insights from your data survey, you may lose thousands of dollars. So, there’s a high cost associated with conducting a data survey. This is why it’s imperative to choose the right provider for your data survey.
Your project may have needs that are unique to your company. Therefore, it is important to set goals for your data survey before starting the project. You need to think about what is the result that you want from your data survey. Additionally, cost and time considerations also play a role. Usually, companies look for the highest quality responses from data surveys. We at GrapeData pride ourselves on quality. We custom target survey respondents using geolocation and AI. With over 300k contributors on our platform, we source the relevant respondents for your data survey.
If you want to learn more about how to choose the best survey provider for accurate data, you can check our blog post.
A B2B panel provider has to source accurate data most quickly and efficiently. The data survey has to contain all relevant questions so that respondents can answer them. There are several protocols to get accurate information for a data survey. For example, you can ensure to clean data regularly. To add to this, you can also ensure data consistency and integrity. To illustrate, make sure to present all information in the same format and clarity.
Let’s explore in detail what are the best practices for a B2B panel provider.
A data survey has several elements that need to be perfected. Earlier, we talked about accuracy and data cleaning. However, the data survey process from start to finish has many more elements.
A B2B panel provider must have a large enough pool of survey respondents. Moreover, the respondents for each project should be carefully screened and chosen. If the wrong profiles are chosen, the whole data survey can be compromised. At GrapeData, we choose experienced respondents from our network of contributors. We custom-pick respondents based on their profile and quality of answers. Our contributors receive only those data surveys specific to their experiences.
First and foremost, you must have a good relationship with your client. As a B2B panel provider, it is important to get to know your client. Also, you can understand their goals and expectations from the data survey project. Ensure that you do research on the client and their business beforehand.
Each data survey is unique and therefore it is important to have a different strategy for each. Additionally, there are many ways to get survey respondents to answer the survey questions. Depending on time constraints, you could use direct surveys, face-to-face interviews, or phone calls. Also, you can even use a combination of these three methods.
Survey programming is defined as converting the survey requirements into a questionnaire such that actionable insights can be inferred from it. Survey scripting is the process of asking the right questions to the respondents. This is so that accurate data can be collected.
You can conduct a pre-launch with a 10% population of a global B2B survey. This is done so that you can get an initial set of answers and check the quality of answers. A soft launch of a survey is usually when you just start a project to collect the initial 10% of the population. Thereafter, you can pause the data survey for your client to review.
There are multiple actions that you should avoid doing for a data survey. We will dive here into the most important don'ts:
You shouldn’t use a constant list of respondents for any data survey. Each project is unique and will therefore require different profiles. Consider sourcing them from different social media profiles to get the best results.
Screening questions will save a lot of money and time for you, as a B2B panel provider. The screening process will ensure that you only get relevant and high-quality results. Therefore, don’t miss out on screening questions.
Overly complex language is only going to confuse survey respondents. This will hinder your data survey project and prevent you from getting relevant answers. Therefore, use simple and easy-to-understand language in your marketing communications and survey questions. Also, clarify questions when respondents get confused about questions.
Starting the data survey project blindly may hinder the progress. It’s always a good idea to set clear goals and deadlines for your project. A B2B panel provider follows this approach so that results are quick and accurate.
If you still need guidance, GrapeData is here to help. We conduct both B2B and B2C global surveys from beginning to the end. GrapeData is a technology-backed survey panel that focuses on B2B panels for commercial due diligence. Check out our blog for more information on data surveys.