In their latest report on the state of the market research industry, ESOMAR estimate that just 4% of research spend is on business to business market research. That’s shockingly low. I took a sample of 400 companies which represent the UK business landscape:
This reveals that 45% of UK companies operate in business to business markets (and many more have some business to business component to what they do). Yet despite this, business to business market research accounts for less than a twentieth of total market research spend.
So why do business to business companies under-invest in market research?
See how they measure up at Business2Community.com
"Cargo loss control—three simple words. Often misused, little understood, yet worth billions of dollars a year as an industry."
"This article is not intended to be a comprehensive course in cargo loss control techniques and practices. Rather, it is an attempt to highlight the ease with which—even in this day and age of sophisticated electronic equipment—the human machine can so easily and discreetly game the system."
Read more at Brinknews.com
Globally, more than 70% of invoices are paid late, according to MarketInvoice. The rate is better in the US, where just under half of all invoices are settled after they’re due. In Europe, excluding the UK, it’s better still, with just 40% of invoices paid after the deadline. But British and French companies appear to be egregious late payers, with nearly two-thirds of UK invoices paid late and more than three-quarters of invoices in France settled post-due.
See the breakdown on QZ.com
The suppliers who have to deal with these extended payment terms tend to be smaller and have fewer resources than the companies delaying payment. Even with the extended terms, 47 percent of the suppliers surveyed by Taulia, a company that facilitates supplier payments, reported that their customers paid later than promised. Maybe this is one explanation for why big companies have been on the rise and business dynamism on the decline.
Read more: Delaying payments to suppliers has become downright fashionable.