Many technology companies are nowadays using technology market research to help them identify and leverage new sales opportunities. While market research can be a highly effective method of identifying new sales opportunities it is also important to be very clear on the priorities and goals of your market research. It is important to make a clear distinction between research for the sale of product development (for example) and research that is designed to ultimately uncover a sales opportunity.
Getting the best out of your technology market research can be a difficult challenge. Whether you are trying to use market research to help product development, product marketing launch or lead generation, there are a wide range of factors to consider.
Ridge Technology Marketing specialises in helping technology and software companies to use market research to market and sell their solutions more effectively. The following samples of sales opportunities driven by technology market research illustrate just how effective this method of market research can be.
Sample 1:
Country UK
Company On File
Industry Warehousing
Turnover
Employees 350
Number Sites 1
Telephone On file
Contact Name On file
Contact Title
DDI/Mobile On file
Fax
Email On file
Web Site On file
Date Identified: 29th August 2008
Lead Expires:
Project Summary:
The Client is currently using a bespoke ERP solution among 50 users and intends to replace the existing ERP application. The Client is open to evaluating various ERP solutions and has expressed an interest in MS Navision. It is envisaged that the new ERP system will commence implementation circa Jan.09. There is a budget available for this implementation but it has not been disclosed. There is future opportunity for a Warehouse Management System for the Client.
Sample 2:
Country USA
Industry Medical Device
Turnover Unknown
Employees 600+
Number Sites 6
Telephone On file
Contact Name On file
Contact Title IT Manager
DDI/MobileFax On file
Email On file
Web Site On file
Date Identified: 18th August 2008
Lead Expires: 20th November 2008
Project Summary:
The Client has 9 companies and requires a global ERP solution. The Client is predominantly Microsoft based and is currently launching a MS CRM solution globally. The emphasis for this project is on an ERP implementation in the US and North American market with the remaining global offices thereafter. The Client is considering both an upgrade of the existing MS Dynamics NAV ver 3 to Dynamics AX as well as a replacement of MS Dynamics NAV. The proposed ERP system should include MRP, Order Processing, Logistics, Automated Purchase Order Processing and automated personal expense and credit card management. The Client is also looking at a Financial Reporting tool, possibly third party to incorporate consolidated accounts as well as the 9 individual company accounts.
When implementing technology market research it is important to consider the primary objective of the research campaign. Is it to understand customer needs, understand product performance or to generate sales opportunities. The above samples had a singular goal of generating sales opportunities for clients and the campaign criteria for this was very clear. Clarity of campaign objectives in technology market research is the key to success.
Michael Kelly is Managing Director of http://www.itechnologymarketresearch.com Technology Market Research Company, Ridge Technology Market Research. Ridge provides a range of IT market research services including primary and secondary, as well as online and telephone based surveys. Further information http://www.itechnologymarketresearch.com and mkelly@ridgebusiness.com.
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