Market research
In short
Market research is the structured collection and analysis of information about a market, its buyers, and its competitors. GTM teams use it to decide which segments to enter, what problems to lead with, and how to position and price an offer.
It comes in two forms. Primary research is gathered first-hand, through interviews, surveys, and win-loss calls. Secondary research uses existing sources such as public filings, analyst reports, job postings, and your own CRM data.
Types of market research
Primary research
You collect new data directly from the people you care about. It is slower and costs more, but it answers your exact question.
- Customer interviews: Ask why they bought, what they tried before, and what almost stopped them.
- Surveys: Good for sizing how common a view is once interviews have shown what to ask.
- Win-loss calls: Talk to buyers who chose you and buyers who chose someone else.
Secondary research
You reuse data that already exists. It is fast and cheap, and it is a good first pass before any primary work.
- Company data: Firmographic and technographic data show how many companies fit a segment.
- Public sources: Job postings, press releases, and earnings calls reveal priorities and spend.
- Internal data: Closed-won, closed-lost, and churn records in your CRM are research you already own.
How to run market research for GTM
Start with a decision, not a topic. "Should we sell to mid-market logistics companies?" is a research question. "Learn about logistics" is not.
- 1. Write the decision: State what you will do differently depending on the answer.
- 2. List what you need to know: Size of the segment, the problem, current alternatives, and who buys.
- 3. Mine existing data first: Check the CRM and public sources before booking calls.
- 4. Fill gaps with conversations: Aim for repeated patterns across five to ten interviews rather than one vivid story.
- 5. Write a one-page conclusion: Include the decision, the evidence, and what would change your mind.
A practical example
Say a payroll software team wonders whether to target restaurants. They pull CRM data and find a few small restaurant customers with high churn. They interview former customers and learn that seasonal staffing breaks their onboarding flow. The decision is to skip restaurants for now and test a segment with steadier headcount.
Common mistakes
- Confirmation bias: Asking leading questions that return the answer you hoped for.
- Only talking to fans: Happy customers explain why you win but not why you lose.
- Research with no owner: A deck nobody acts on is wasted effort. Assign someone to turn findings into changes.
- Treating it as one-off: Markets move, so schedule a light refresh each quarter.
Market research FAQs
What is market research in B2B sales and marketing?
Market research in B2B is the work of gathering and analyzing information about target segments, buyers, and competitors. Teams use it to choose segments, shape messaging, set pricing, and decide where to focus sales and marketing effort.
What is the difference between primary and secondary market research?
Primary research is new data you collect yourself, such as interviews and surveys. Secondary research reuses data that already exists, such as public reports, job postings, and your CRM. Most teams start secondary and add primary to fill gaps.
How do you do market research for a B2B product?
Write down the decision you need to make, review existing data like CRM history and public sources, then interview buyers to fill gaps. Summarize findings in a short document with the evidence and the action it supports.
How often should a company do market research?
Run a deep study before entering a new segment or launching a product, and a lighter check each quarter. Review win-loss notes and segment performance regularly so changes in buyer needs show up early.
