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6 easy steps in order to conduct tmt market intelligence explained
The telecom market is changing. S&P Global reports that the tech sector is likely to see major changes in 2023 due to ESG, inflation, and new procurement strategies. The lines between businesses, consumers, and even software are becoming blurred. A leading-edge TMT company needs to be able to understand its customers in a way that goes beyond traditional categories like residential or business lines. For example: What types of devices do they use? Who do they talk to? How often and for how long? TMT market intelligence surveys can help your company answer these questions by providing you with data on your audiences' behaviours, preferences, and needs. Here's how to conduct TMT market intelligence in six easy steps:
To begin, it's crucial to start with the end in mind. You'll want to define the problem (or problems) you're trying to solve with your TMT campaign. To do this effectively, take some time and consider what exactly it is that needs fixing. What are you looking for? Are there any gaps in your company's knowledge? What would happen if these gaps went unfilled? With these questions answered, you can start mapping out a plan for how best to approach the problem at hand.
It might be tempting (and even helpful) to look at other marketing campaigns or strategies that have been successful before and try applying their methods here. However, don't forget that every organisation has its own unique challenges and goals! While there are certainly some similarities between challenges faced by different organisations, each company has its own unique set of characteristics that will require custom solutions tailored specifically just for them. The more specific details about your business challenges and goals that you can provide when planning out an effective TMT research strategy will ultimately result in better results than those achieved by simply following someone else's lead blindly.
If you're not sure where to start, try answering the following questions:
-What is the problem we need to solve? (This should be specific. For example: "We want more people to click on our website" is not specific enough; "We want to increase sales by 10% by offering customers a discount for using our e-commerce platform instead of PayPal" is more specific.)
-Who are our target audiences and how can we reach them? Perhaps your market intelligence needs to focus on millennials who use social media often and are interested in saving money. You may also want to consider how different groups of people will respond differently depending on what kind of message they receive.
Learn more about target audiences for your TMT market intelligence here.
Once you've created your survey, it's time to make it as engaging as possible. A few key ways to do this include
A TMT market intelligence survey isn't just a series of questions. It should be designed with the user in mind, and provide them with an experience that is both informative and entertaining. In order to do this, you need to make sure your survey includes interactive elements (such as video or audio), a clear call to action at the end, and personalised content based on what users tell you during their responses. Find out more about dynamic surveys here.
When it comes to conducting market intelligence, the most important thing is to be hyper-relevant. You have to know your audience and deliver to them what they need, when they need it, no matter how much time or money you’re willing to put into the project.
That said, don’t be afraid of change or failure. You're never going to get it right the first time; that's just a fact of life. If your research doesn't pan out exactly as expected (or even worse: if it does), don't give up! Ask for help from colleagues and mentors who can help guide you in a new direction or show you another way around this obstacle, and then go out there and try again!
If you’re looking for help with your next project, or just have some questions about market intelligence, we’d love to hear from you. Contact us here to see how we can help.
Incentives and other tactics can be used to encourage participation, sharing, referrals, reviews, and customer satisfaction. You should consider using incentives or other tactics to encourage participation where appropriate.
For example, you can offer incentives to customers who share their experiences with your product or service. You could also provide discounts for new users who refer a friend and have that person sign up for a paid plan.
You can shorten your survey by asking fewer questions. This is the most obvious way to make your surveys shorter, but it’s also one of the most effective. Instead of making a long list of questions that don’t necessarily need answers, focus on only the most important ones. You can use a questionnaire to ask more than one question at once or even just ask one question more than once with different wording each time in order to get more information from participants.
Using a survey as a regular tool for market intelligence allows you to stay in touch with your audience and meet their needs. You'll be able to collect feedback on new features, products, and more. You'll then use this information to make informed decisions about how to move forward.
Some of the ways that you can use your survey results include:
As a market intelligence survey provider, you're in an excellent position to help your clients and users by being a go-to source for them. By taking on new ways, TMT market intelligence surveys can become a valuable go-to source for vendors and customers alike.
The benefits of being a go-to source are obvious. Customers want the most up-to-date information possible; vendors want their products represented well. Respondents want accurate information about their technology usage patterns so they can make better decisions about their IT investments moving forward. All three groups are looking to you as the trusted source of information that will help them get what they need: accurate data collected via high-quality methodologies so there's no room left for doubt or misinterpretation on any level!
There are a lot of things you can do to ensure that your TMT market intelligence surveys are the best in their class. Here are some tips for getting started:
-Make sure your survey questions are clear and unambiguous.
-Use a professional-sounding script for your survey, don't just rely on the survey software's default voice.
-Ask respondents what they do, not why they did it (unless you're specifically trying to measure behavioural drivers of IT investment).
-Use consistent terminology throughout your survey so there's no room for confusion or misinterpretation.
-Don't be afraid to ask probing questions if you need more information than what respondents originally provided. You can always follow up with additional questions later if needed.
TMT market intelligence is the process of collecting information about a company's competitors or the industry as a whole. This information can be used to make strategic decisions about how to grow in the future. If you're looking to learn about the challenges of conducting TMT market research, we've got a post on that too. Check out 4 challenges to conducting TMT market research.
TMT market intelligence benefits include:
-Helping companies understand their competitive landscape so they can make better decisions about how to grow in the future
-Aiding companies see what others are doing and where there may be opportunities for collaboration or innovation
-Enabling companies to understand industry trends so they can align with those instead of deviating from them
We hope this post has been useful to you if you were looking to start a TMT market intelligence project.
We outline here the basics of a TMT B2B survey and everything you need to know to run your first one
An article explaining the four challenges that you could face while conducting TMT market research
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