B2B research agency, FOTP Research is known for Business to Business bespoke market research with expertise in gathering feedback from key stakeholder groups, and in particular Customers, Employees and Suppliers.
Finger on the Pulse Research (FOTP) is a B2B research agency that specialise in gathering feedback from key stakeholder groups, in particular, Customers, Suppliers and Employees,by developing and conducting bespoke market research surveys.
These three stakeholder groups are fundamental to the success of any business, yet how often do companies obtain feedback from them, to understand their perceptions of your business, in particular what you do well and what you could improve.
Whether during “normal” times or times of crisis, timely, objective and actionable insights generated through research projects enable businesses to maintain a competitive edge and keep close to the needs of their key stakeholders.
As a key Stakeholder Group, your Customers generate the revenue that drives your business forward. To do this successfully, it’s vital to understand and take into account the views/feedback of your customers when making commercial decisions and developing future strategy. Conscious of the maxim that ‘you shouldn’t mark your own homework’, engaging FOTP Research, a specialist B2B research company, as an independent third party to work with you, is the best way forward.
We will work with you to:
- Understand your requirements
- Develop the survey
- Conduct the customer satisfaction research
- Analyse the data and
- Present the insights
Step 1: Scoping the target respondents and understanding your business
We hold initial meetings with our clients to achieve the following:
- Clarify research requirements and potential areas to measure
- Understand current processes and business characteristics
- Select appropriate customers to gain feedback from
- Recommend and agree an appropriate sample size
- Provide a full project schedule to include timelines and deliverables
Step 2: Qualifying the core components of successful relationships with your customers
- The key drivers of customer relationship performance are identified by conducting a number of in-depth telephone interviews with a sample of your customers
- The output of these interviews are clearly defined Performance Areas and the individual Performance Attributes that determine your customer relationships
Step 3: Measuring the Pulse of your customer relationships
- An online survey with a combination of ratings and “open text” boxes is used to gather customer feedback on how they rate your company on the agreed Performance Areas and Attributes
- The Performance Areas and Attributes measured are those we defined from the earlier qualifying interviews
Step 4: Reporting via scorecard and identifying customer relationship strengths and areas for improvement
Output of results include:
- A customer relationship health Scorecard
- A measure of performance for each Performance Area and Attribute
- Verbatim comments providing further insight into the ratings provided
- Identified customer relationship strengths and areas for improvement
- Data analysis and recommendations to help you drive stronger customer relationships
As a key stakeholder Group, your Suppliers are crucial in enabling you to develop the products/services to better meet your customers’ requirements. Suppliers can range anywhere from Transactional to Strategic, from Exclusive to Shared and more and more frequently are being considered pivotal to enable a company to deliver its business plans. Given the growing importance of suppliers, it is becoming increasingly relevant to understand their views and gather their feedback. In an increasingly competitive environment, to have strong, positive, collaborative relationships with your key suppliers is becoming a strategic imperative and key competitive advantage. Suppliers often have choices: who they work with, who they invest with, who they chose to develop strategic relationships with. The most successful companies often have the most successful supplier relationships with strong supplier engagement. But how do you know how successful your supplier relationships are, without some form of measurement.
Conscious of the maxim that ‘you shouldn’t mark your own homework’, engaging FOTP Research, a specialist B2B research company, as an independent third party to work with you, is the best way forward.
We will work with you to:
- Understand your requirements
- Develop the survey
- Conduct the supplier satisfaction research
- Analyse the data and
- Present the insights
We are very proud to announce that FOTP Research has been recognised with a GroceryAid Bronze Award for the support given to GroceryAid during 2021.
Grocery colleagues need emotional, financial and practical help now more than ever and GroceryAid continues to provide this support. This year GroceryAid will help over 20,000 and that number continues to grow.
It is even more critical than ever to support GroceryAid during these current challenging times and we are pleased that our business was able to contribute to such a fantastic cause, and help make a difference in 2021. We look forward to continuing to work with GroceryAid in 2022, and beyond. Please visit www.groceryaid.org.uk to see how you can get involved.
The FOTP Overall B2B Pulse score is 69.7. This is a solid score, based on feedback from 192 B2B Sales Professionals who took part in the survey.
Whilst the last 12 months have been tough, there is more optimism about the future. This is illustrated by two of the four metrics that make up the Pulse Score where “Business Performance for the next 12 months” scored 75.3, 8.2pts higher, compared to the score reflecting Business Performance of the previous 12 months (67.1).
When asked about strategic priorities for the next 12 months, there is a sense that B2B Sales Professionals are “shoring up” existing business/clients, rather than actively recruiting new clients.
73% of B2B Sales Professionals indicated that “growing business with existing clients” was their top priority, compared to less than half saying the same about bringing in new clients. In addition, 1 in 4 ranked “bringing in new clients” last in the list of priorities.
Reinforcing this sense of consolidation, the other top ranked priorities focus on “understanding clients’ changing needs”, “adapting products and services to the changing market trends”, “driving New Product Development”, and “developing current and fresh ways of advertising/promotion”.
More immediately, B2B Sales Professionals are having to counteract the impact of shortages in key product lines, with availability and supply chain disruption still causing significant issues. Businesses are developing a range of solutions to deal with this, from identifying/sourcing new or more reliable suppliers, focusing on forward planning/forecasting and adjusting product range/offering.
Finally, when providing feedback on the Net Zero strategies, survey results confirmed that businesses were more likely to support their clients’ Net Zero targets, than have any of their own. Time, having sufficient resources, internal commitment and having to prioritise other business issues are the main factors that divert focus from developing the Net Zero strategies internally.
Relationships, while just as important as ever, are also impacted by ongoing covid restrictions. B2B Sales Professionals report that it is becoming increasingly difficult to build relationships with clients, with account reviews, sales conversations and even meeting new customers all happening via video calls.
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