B2B Research – the Benefit is Insight
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East and Partners Asia, a leading global B2B consultant and research firm covering the travel and entertainment (T&E) sectors, believes that there are significant benefits to using B2B insights to clearly define a business’s strategic roadmap.
Truly understanding the industry landscape is an essential part to being able to formulate and plan a business’s future objectives. This is a rather difficult task especially for the T&E sector as there is generally a lack of B2B research analysis available. These businesses within the T&E sector have a need for accurate evaluation and insight around key market issues such as market size and growth, market share and corporate satisfaction levels, to name a few. Deep insight and knowledge for T&E businesses is crucial to understand the competitors in the market place, both incumbent and new entrants.
T&E product and service development should commence with the use of B2B research as a foundation, which should culminate into an offering that aligns to Corporate customers travel needs. Capturing lost or new customers is yet another facet where B2B insights become invaluable, where T&E businesses are able to determine effectiveness of their sales initiatives. Quantifying the gains or losses from marketing or sales initiatives is a powerful tool for Corporates to fully understand the impact that they are making on their customer base.
Customer frustration, in most instances, emanates from their needs not being met. Alleviating the pain points of the highly demanding Corporate customers is a daunting challenge for any T&E enterprise in the absence of reliable customer satisfaction insights. Business customers are those who have complex travel requirements as they are frequently on the move and want to have a seamless travel experience. The optimal way to satisfy these high value customers is to identify their pain points and develop strategies in service and offerings to alleviate it.
In the T&E space, what has been evident is the clear gap for primary, customer centric, high caliber insight among T&E service and product providers. The formation of a business’s strategic journey is made that much easier with the use of research that targets customer behavior and the drivers of such behavior. With B2B insights, not only are T&E Corporates able to develop their customer value proposition, they are, in addition, able to build their brand recognition and mind share among large corporate clients.
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