Case Study: Decrypting the needs of IT Decision Makers

 

Client:

Cybersecurity Solutions Provider

Background:

Understanding the pain points and needs of IT decision-makers is crucial for any business offering technology solutions. Our client, a cybersecurity solutions provider, aimed to comprehend the unmet needs and future demands of IT decision-makers across various industries.

 

Methodology:

We employed a combination of quantitative and qualitative research methods. This included a comprehensive online questionnaire, followed by in-depth interviews with a curated list of CTOs, CIOs, and IT managers.

A total of 250 fully vetted IT decision makers were recruited to take part in the online survey, followed by 15 CIOs, CTO etc. for 60 minute qual interviews. All of them from large companies (>250 employees).

 

Tools & Technologies:

We used a secure, encrypted platform for administering the online questionnaire and conducted the interviews through a vetted video conferencing tool to ensure confidentiality. Advanced data analytics tools were employed to sift through the voluminous data, extracting actionable insights.

 

Outcome:

Our client received a granular understanding of the IT landscape, enabling them to tweak their product offerings and marketing strategies. Their new, more targeted solutions have been successfully launched, and early feedback indicates a strong market fit.

 

Client-side Feedback:

“SCR’s robust methodology and technological expertise have been invaluable in helping us understand our key demographic. The insights gained have been instrumental in shaping our new product offerings. SCR stands out for their commitment to delivering precise, actionable data that drives strategic decision making.”

Market research is a critical pillar of any successful business strategy, enabling organizations to gain valuable insights into customer preferences, industry trends, and competitive landscapes. As the digital age progresses, the traditional methods of market research are being challenged by the advent of new ones, such as verified expert audience access. By tapping into expert networks and verified individuals, businesses can significantly enhance the quality of their market research efforts.

Harnessing Expert Audiences with SCR: A Paradigm Shift in Research

Leveraging expert audiences with SCR guarantees enjoying the high-quality standards we hold ourselves to, along with the following additional benefits that expert audiences can bring to your research.

SCR provides access to a wealth of specialized knowledge and expertise that may not be readily available within a company’s internal resources. These experts are seasoned professionals and industry thought leaders, fostering innovation, and enabling more informed decision-making. With that, the assurance of credibility in the data obtained becomes a significant advantage, as experts undergo rigorous vetting, ensuring that only trustworthy information is incorporated, elevating the research’s integrity and instilling confidence in stakeholders.

Strategic Precision: Tailored Knowledge for Informed Decisions

Driven by these verified and highly experienced professionals, the targeted and relevant responses obtained streamline the research process by matching specific project requirements with individuals possessing the exact knowledge and experience needed. This approach minimizes data noise and allows organizations to focus solely on pertinent information.

Expert Audiences: Pioneering Diversity and Niche Market Insight

Expert audience access in market research not only provides specialized knowledge, credibility, targeted responses, and agility but also offers the distinct advantages of diverse perspectives and access to niche markets. The inclusion of individuals from various backgrounds and industries brings a rich array of viewpoints to the research, enabling businesses to gain a comprehensive understanding of market dynamics and cultural nuances. This diversity often leads to the discovery of innovative solutions and identifies untapped opportunities that might have been overlooked in more homogenous research approaches. Additionally, the access to niche markets, which are typically hard to reach through traditional methods, allows companies to dive deep into specialized sectors. Understanding the unique challenges and preferences of these niche markets empowers businesses to tailor their strategies and offerings, ultimately increasing their chances of success in these targeted segments and the overall quality of their studies.

Conclusion

Verified expert audience access is a game-changer in the realm of market research. By embracing these networks, businesses can tap into a goldmine of specialized knowledge, ensuring the data collected is credible, relevant, and trustworthy. This approach not only enhances the quality of market research but also empowers companies to make well-informed decisions that lead to a sustainable competitive advantage. As technology continues to advance, incorporating verified expert audiences into market research strategies will become an indispensable asset for businesses aiming to thrive in a rapidly evolving marketplace. Count on SCR to be your partner along the way, and to consistently deliver great project experience and high-level experts. Read more here

Expertise

SCR was founded to address the growing demand for access to executive-level B2B decision-makers, opinion leaders, and healthcare professionals from around the world who are often difficult or impossible to reach using traditional recruitment methods. We understand the challenges suppliers face in reaching these key audiences despite persistent demand from clients, and our mission is to provide the access and insights needed to overcome these obstacles and successfully deliver for our clients.

 

Expert Network

Our expert network holds the immense power of pooling together a diverse group of specialists in different fields, consolidating their knowledge and experience for easy access. By tapping into our network, you’ll gain valuable insights, solutions, and guidance that would otherwise be challenging and time-consuming to obtain. Our expert network expedites decision-making processes, mitigates risks, and fosters innovation by providing timely and accurate information from trusted authorities.

Our expert network comprises carefully vetted respondents, ensuring that the knowledge and insights provided come from trusted authorities in their respective fields. Respondents are recruited via invite only and are all vetted to be who they say they are. We use our proprietary Expert Network for both Qualitative and Quantitative research.

Read more about Expert Networks here

 

Custom Recruitment

Our custom recruitment services excel in identifying and recruiting meticulously vetted respondents for research purposes, ensuring that you have access to individuals who possess the desired expertise and knowledge relevant to your study. By leveraging our expertise in respondent selection and screening, we streamline the process of finding the right participants, saving you time and effort. Our custom recruitment services enable you to gather valuable insights and data from a carefully curated pool of qualified respondents, enhancing the quality and validity of your research. This allows us to recruit the otherwise impossible to source respondents thanks to our executive interviewing centre. We use our Custom Recruitment services for Qual and also Quant methodologies.

Read more about Participant Engagement here

 

Global Project Management

We are specialists in hard-to-reach audiences and if we can’t deliver something in-house, we’ll most probably have a local partner who can. SCR has built a network of trusted partners worldwide, giving us unprecedented access within the hard-to-reach space. Our partners are carefully vetted and go through a strict quality onboarding process with our supplier management team. Our in-house project management team seamlessly manages our internal resources as well as our partners for you, ensuring full feasibility for your projects. Both your Quant and Qual projects will benefit from our in-house expertise.

 

Phone 2 Web

Our phone to web service revolutionizes the way information is gathered by seamlessly bridging the gap between phone-based interactions and web-based data collection. This innovative solution allows for a smooth transition from phone surveys or interviews to online platforms, enabling greater scalability and convenience. By leveraging this service, organizations can effortlessly harness the power of both mediums, ensuring high quality and efficient data collection, improved response rates, and enhanced flexibility in conducting surveys and research.

 

Mixed Methodology

While our internal sample sources comprise vetted respondents from the Expert Network or Custom Recruitment, we understand budget constraints and have developed a solution to account for it. We have built an internal tool that allows us to blend our vetted sources with cheaper traditional sources such as online B2B panels. This enables us to use the vetted respondents’ answers as a benchmark for the cheaper but less qualitative sources, while still maintaining quality checks and commitments. By incorporating our vetted sources, you can expect increased quality in responses compared to traditional panels, resulting in higher overall data quality and validity.

Read more about our mixed methodology here

 

Quant Sample Only (Expert Network only or Overall Project Management)

Through a combination of data collection methodologies , we’re able to gather a large volume of answers, from all kinds of B2B respondents; decision makers, stakeholders, CEOs etc. from across the globe.

Our processes guarantee our respondents are who they say they are , as we can verify using LinkedIn and by confirming business email addresses (domains) etc. You can even follow up with respondents after the research with a TDI or request a recording of a specific interview.

 

Custom Panel

If you need a custom panel for your research, SCR can help you in building your own custom panel.

 

Before commencing a market research project, it is essential to determine the type of respondents that will be recruited. Making a confident decision in this regard significantly contributes to the value and worthiness of the research outcomes. One common consideration is choosing between panel providers and expert networks for the recruitment phase. This choice depends on various project factors and requirements, including:

• Questionnaire content
• Respondent qualifications
• Methodology
• Quality of the Data
• Cost

 

To better evaluate these options against the mentioned factors, it is crucial to understand their definitions and differences. Panels consist of individuals who have consented to participate in market research studies. They can be recruited or proactively join the panel. Once on the panel, they receive invitations to participate in research activities in exchange for incentives. Joining a panel typically involves no significant barriers, as panel companies strive to maximize panel size and diversity of respondents in spite of the data quality they collect.

 

On the other hand, Expert Networks are more exclusive compared to panels. Respondents within Expert Networks are experienced professionals with specialized knowledge in specific subjects. Their participation in market research studies may be less frequent but highly targeted and tailored to their expertise. Similar to panels, expert respondents are compensated for their time, and the incentive levels are often significantly higher than those in panels. Becoming an expert network member involves a thorough review of the individual’s professional background to ensure suitability for future studies.

 

As previously mentioned, choosing between these services depends on the project specifications. While exceptions exist, panels are generally recommended for projects with the following characteristics: a large sample size, general requirements, quantitative methodologies, and limited budgets. On the other hand, Expert Network respondents should be considered when the subject matter demands in-depth knowledge or when the topic is complex. Also when budget allows, Expert Networks will deliver a significantly higher data quality. Additionally, qualitative studies typically favor expert respondents, although there may be exceptions. Budget considerations are crucial, as utilizing expert networks tends to be significantly more expensive compared to panels.

 

At SCR, we are a comprehensive agency with experience in utilizing both types of respondents. We take pride in our ability to custom recruit hard-to-reach audiences while also delivering on engagements driven by panels. Our team excels at devising the most suitable plan for each unique situation, ensuring the success of every project.

In today’s fast-paced and competitive business landscape, gaining a competitive edge often requires valuable insights and in-depth knowledge about hard-to-reach audiences. Understanding the needs, preferences, and behaviours of these audiences can provide a significant advantage to companies looking to develop successful products, launch effective marketing campaigns, or expand into new markets.

 

However, accessing such audiences and obtaining accurate information can be a difficult task. This is where expert networks come into play, playing a role as a valuable resource for market researchers seeking to connect with these demographics.

 

As mentioned, hard-to-reach audiences refer to demographics or groups that are challenging to access and understand due to various reasons. These reasons could include limited availability, geographical barriers, industry-specific expertise, confidentiality concerns, or the need for highly specialized knowledge. Hard-to-reach audiences may also come from niche markets, emerging industries, regulatory sectors, or exclusive professional circles.

 

Expert Networks are platforms that bridge the gap between companies seeking specialized knowledge and industry experts or professionals who possess the required expertise. These networks serve as a middleman for consultations, interviews, and even focus groups between clients and experts, facilitating the exchange of valuable insights and expertise. Through expert networks, clients can tap into a large pool of experienced professionals who have deep knowledge and hands-on experience in specific industries, markets, or domains. SCR is one of those companies that has as its mission to connect companies to a range of hard-to-reach audiences, from healthcare professionals to various B2B workers, and we have recruited C-suite executives, medical professionals from different specialties, Insurance payers and even policy makers working in government.

 

Expert networks offer a faster, more secure, and insightful way to connect with hard-to-reach audiences for market research purposes, and I’ll tell you some reasons why:

 

• Access to Specialized Knowledge: Expert networks provide clients with direct access to industry professionals who possess specific knowledge and expertise.
• Efficient and Timesaving: Traditional methods of accessing hard-to-reach audiences can be time-consuming and difficult. Expert networks streamline the process by connecting clients with relevant experts efficiently and swiftly.
• Enhanced Credibility and Validation: Expert networks carefully check and screen their experts to ensure their credibility and expertise. This provides clients with a sense of trust and confidence in the information they receive.
• Confidentiality: Certain industries or topics require a very high level of confidentiality; Expert networks understand the importance of privacy and can facilitate secure and confidential discussions between clients and experts.

 

Expert networks have proven to be great resources for market researchers aiming to connect with hard-to-reach audiences and SCR takes pride in being part of this group and having provided many companies with eye opening insights and actively participated in the development of the b2b and healthcare world. With our capabilities, SCR can offer a faster, safer, and more insightful way to navigate the complex market research world and unlock the potential of hard-to-reach audiences, and we’d love to help you in your projects as well.

Regardless of your situation, the root cause of these quality concerns when utilizing online panels for B2B research is often the same: the significant challenge faced by online panel companies in verifying the authenticity of their respondents, compounded by the growing prevalence of fraud and identity deception among survey participants.

 

On average, 1 out of 3 respondents (or 32%), are removed from these projects due to quality reasons.

 

This has several negative consequences, including :

• Consuming valuable time for project managers and researchers
• Eroding confidence in the overall data quality (how much poor quality data has slipped through the cracks?)
• Questioning the integrity of researchers when false trends emerge
• and occasionally raising doubts about the reliability and methodology among end clients.

 

To address these issues, SCR offers a range of alternatives to our clients.

 

One such option is the “phone to web” approach, which involves vetting every respondent over the phone using our Expert Network or Custom Recruitment services. We employ various methods, such as cross-referencing LinkedIn profiles and email signatures, to ensure the respondents’ authenticity before providing them with a unique survey link.

 

This methodology offers the highest level of quality assurance but comes at a higher cost, with an average CPI ranging from $175 to $250.

 

Another favored approach by our clients is the mixed methodology, which combines online panels with the phone to web method. This approach typically involves an 70% online panel and 30% phone to web blend. It offers the benefits of both worlds, including larger sample sizes and lower costs from online panels, coupled with smaller but highly reliable samples from phone to web.

 

Using this methodology provides a solid benchmark for the overall data and instills confidence in the research outcomes. The blended CPI for this approach typically ranges from $75 to $95, compared to $50 to $70 when relying solely on online panels.

 

Allow us to share a success story from one of our long-standing clients who faced challenges with their B2B Quant projects solely relying on online quant panels.

 

We determined that the best solution, considering various factors, including budget, would be to adopt a blended approach for their future projects.

 

This involved sourcing a minimum of 25% of the data from Expert Networks/Custom Recruitment, with the remaining 75% from traditional panels, adjusted based on their budget and timeline constraints. After implementing this approach for approximately a year, they observed significant changes:

 

• Having 25% of guaranteed high-quality data allowed them to conduct additional checks to ensure the integrity of the entire dataset, swiftly identifying and addressing any issues arising from panel providers.

 

• Setting high requirements for company sizes and leveraging new data sources enabled them to confidently reach respondents working for large enterprises (with revenues exceeding $10 billion).

 

• Although the overall project cost is now higher compared to relying solely on panels, they are investing the same amount as they no longer need to rerun projects entirely due to data integrity concerns.

 

• The increased confidence in the received data has helped them build trust with their clients, ultimately becoming one of their unique selling points (USP).

 

Contact SCR today to explore how our solutions can positively impact your research endeavors and enhance your relationship with your clients. SCR specializes in providing MRAs and Consultants with access to the most challenging-to-reach audiences in the B2B and Healthcare sectors through our Expert Network and Custom Recruitment services. You can read more here