The importance of verification in B2B market research cannot be overstated. This article aims to shed light on the various challenges, key distinctions, and the monumental impact that robust verification processes can have on your organization. Let’s demystify why verification is not just a ‘good-to-have’ but a necessity in the B2B research arena.
Unlike consumer research, which often relies on low-cost, turnkey solutions for quick results, B2B research is an entirely different beast. It demands smaller, more calculated sample sizes, complex recruiting strategies, and is known to attract a higher incidence of fraud due to higher incentives. The implications are clear: in B2B, every data point is invaluable.
The stakes in B2B research are extremely high. With costs that are often 50 times more per response and sample sizes that are five times smaller compared to consumer studies, the margin for error is tiny. A small percentage of low-quality data could be the difference between a well-informed decision and a costly mistake.
To maximize the value of each response, one must focus on two critical issues: accessing the right, incredibly nuanced audiences and ensuring uncompromising data quality and verification. These challenges are intertwined; solving one without the other is futile.
Fraud in B2B research most commonly enters through two gateways: bots and click farms, and misrepresentation. While the former can be relatively easier to identify and eliminate through anti-fraud technologies, the latter is more complex. Misrepresentation involves participants, sometimes professional panelists, who take surveys posing as someone else and is a much more challenging problem to solve.
Therefore, verification extends beyond merely confirming someone’s existence. It involves rigorous methods to ensure that respondents are who they claim to be. This is achieved through 3rd-party verified data using techniques such as company domain mapping, LinkedIn OAuth, and certification through industry bodies. Such methods don’t just eliminate dishonesty; they significantly enhance data integrity and real-time relevancy.
The industry is witnessing a paradigm shift. Agencies are adopting verification as a renewed competitive edge, and brands are increasingly quizzing their research partners about their verification processes. The good news is, this is a move that benefits everyone. Robust verification processes enable faster, more confident decision-making.
In summary, verification in B2B research is not a luxury; it’s a necessity. It empowers organizations to make informed decisions that have a tangible impact on their business strategies. As the industry moves towards a more data-driven approach, the need for robust verification will only intensify, making it an indispensable part of the B2B research ecosystem.