business research

White Papers for B2B Customers

Business to business selling, commonly referred to as B2B, can be a huge help in linking supplier businesses and wholesale outlets to their retail business customers. A common adage mentions that, over and above acquiring their desired products for the best price, what B2B customers really want at the end of the day is flawless customer service. One of the biggest obstacles in the sales process is miscommunication between buyers and sellers on a fundamental level. This usually occurs when products and their descriptions become overly complicated and wordy. A great tool to overcome this obstacle is the humble white paper.

In layman's terms a white paper is a summary of a complex issue into wording the average Joe can understand. By carefully constructing and supplying your customer with a white paper describing the benefits of your product, they will immediately become clearer on how exactly this product will benefit them. A white paper should always be as clear and to-the-point as possible.

There is no sense in struggling to communicate a point when it could be made simply and succinctly, eliminating jargon and other confusing terms that may be a barrier to a successful sale.

Knowing About Market Penetration

In the marketing sphere, it is often necessary to keep your fingers in many pies, so to speak, in order to maintain a competitive edge. When marketing a new product, it is of utmost importance to keep a close eye on your market penetration statistics. Market penetration, in a nutshell, refers to the extent to which a product or service is being purchased by customers in the current market. As one would imagine, the market penetration figures for a new product can give a real-world representation of the efficacy of a company's marketing strategy as a whole. The more convincing you've been, the higher the number tends to be. There are a number of strategies that exist to increase your market penetration, such as dropping the price of your product, bumping up the number of promotional schemes and encouraging non-users to take the plunge and try something new.

All in all, the market penetration figures for a product or service will give you a very clear impression of its popularity, and by extension can validate an entire marketing strategy. It gives a solid impression of the initial and ongoing impact your strategies are having on customers and as such, should be regularly monitored.