Market research, market analysis, and targeting are essential tools for successful product marketing. Yet in many B2B companies, these processes are often slow, inefficient, and unnecessarily costly. With the right digital strategy, however, businesses can streamline their market analytics and unlock significant savings. Here are three concrete areas where optimization can drive growth.
Understanding your target market and identifying the right audience for your offering is a critical foundation for business growth. The challenge? These activities are expensive. A glance at the spending habits of the 8,000 largest B2B companies across Europe, the U.S., and Canada illustrates this: in 2021 alone, €48.2 billion was spent on market research, analysis, and targeting.
The pain points faced by B2B companies as they build a well-qualified, high-potential sales pipeline are strikingly similar. Market research initiatives often take too long, making results outdated by the time they’re applied. Market research, analysis, and targeting are typically executed as isolated activities instead of being embedded into a continuous, integrated process—leading to inefficiencies and high costs.
Many companies struggle to connect available data sources for comprehensive analysis. While the lack of full market visibility is well known, solutions are often lacking. Without centralized control, sales teams are left to create their own analyses—resulting in hundreds of fragmented, inconsistent reports.
The result: sales teams rely solely on CRM leads, while the broader market remains invisible. Opportunities are missed because relevant information sources aren’t tapped. When a potential lead is identified, there’s no way to accurately assess revenue potential or closing probability. Promising leads are contacted too late, while low-probability targets are prioritized.
Realizing the Benefits of Digitized Market Analytics
These inefficiencies come at a high cost. A robust data analytics engine can drastically reduce them. Below are three improvement opportunities companies can realize by digitizing their market analytics:
Opportunity 1: Share and Leverage Knowledge with Digital Processes
Market research results are often not made centrally or digitally accessible to all stakeholders. Data is manually shared via email in Excel sheets or PDFs—or stored locally—limiting access and scalability.
The issue is twofold: a lack of knowledge-sharing culture, and the absence of established digital processes that consolidate data centrally and make it easy to analyze with minimal effort.
To accelerate market analysis, companies need the right technological foundation. Leading analytics tools rely on cutting-edge technologies like SAP’s in-memory database HANA, enabling fast processing of large datasets. This makes real-time queries and “what-if” scenarios possible—without sacrificing time.
Opportunity 2: Make Markets Transparent – Identify the Right Customers
Only those who achieve full market transparency can identify their most relevant leads. To do so, companies must break down data silos and connect all available sources into a consistent market model. True market intelligence only emerges when internal and external data are merged and analyzed together.
Here, the openness of your analytics platform is crucial. External sources must be easily connected, and imported data must be quickly qualified and ready for use. With this in place, companies can identify high-value prospects at the push of a button—and allocate sales and marketing resources accordingly.
Opportunity 3: Likelihood to Buy – The Right Offer at the Right Time
To assess not just revenue potential but also the likelihood of a customer buying, machine learning enhances your data and improves decision-making. Lightweight algorithms enable recommendations for the Next Best Action or Offer (NBO), as well as predictive analytics and “what-if” scenarios for more accurate targeting.
A high-performance data analytics engine like MODELYZR actively supports the development of tailored go-to-market strategies. The result: reduced targeting waste, higher conversion rates, and faster growth.
Data Analytics: Key Features at a Glance
To significantly reduce the cost of market research, analysis, and targeting while improving results, investing in a modern data analytics solution is essential. Leading platforms like MODELYZR combine all the features necessary for success:
| Market Research | Market Analysis | Targeting |
|---|---|---|
| – One-click access | – Structured full-market model | – “Digital first” approach |
| – No additional cost | – Single company-wide source | – Complete market orientation |
| – Fully integrated into digital sales | – Holistic market overview | – Prioritization by potential or probability |
| – Sales and marketing alignment | – Seamless integration into digital sales |