Ready for your FREE Consultation?

Give Us a Call Today! 317.296.7314

Ready for your FREE Consultation?

Give Us a Call Today! 317.296.7314

Top 3 Questions to Ask When Choosing a Marketing Research Firm

While every business wishes to grow, not every business makes the right decision to reach that goal. With fast-moving technology and aging population, business audiences are constantly evolving, but many established businesses struggle to stay ahead of this curve.

In today’s global marketplace, we can’t afford to rely on our gut to achieve growth, nor can we get all the answers we need from an online report. That’s why it’s critical to align your business with a market research firm that helps you fill in the information gaps to make growth-based decisions.

However, selecting a partner to conduct research on your behalf is a significant commitment, and naturally, it can be a challenge. But there are ways to figure out which firm will be best for you.

MAIN CONSIDERATIONS

Research doesn’t have to be expensive. If cost is a primary driver for you, check locally for a startup or a small research firm. Your local AMA (American Marketing Association) can also be a great source to look for market research firms in your city. Even if you don’t end up working with a big, well-known firm, you will likely be met with optimism, excitement, and a low cost. Just be prepared to spend more time getting these types of suppliers up to speed on your industry, product, and brand.

If cost is less of a concern, consider reaching out to an established research firm with case studies and proof of experience in market research. It’s ideal to partner with a market research firm that has a proven system for gaining insights into market and industry trends and gathering qualitative and quantitative research from both your team members and customers.

WHAT YOU SHOULD BE ASKING

Once you’ve determined the type of company that’s within your budget, there are three key questions you should ask when choosing a market research firm.

IS THIS FIRM GOING TO GIVE YOU ACTIONABLE INSIGHTS? 

It’s not enough to just provide the data. An effective market research should deliver actionable insights. When speaking with prospective firms, ask how their research will help you make decisions and changes within your operations and marketing.

Additionally, examine how they phrase objectives in the proposal. Go with a firm that words their objectives in terms of decision-making. Is their objective simply to perform a brand awareness study for you? Or is it to understand brand awareness to identify the customer market with the greatest opportunity so you can redirect your marketing spend?

DO THEY EXCEL AT COLLECTING AND ANALYZING DATA?

Since you’ll make important decisions based on the research, you want a firm that knows how to collect high-quality, reliable data. A good way to assess a firm’s expertise is to make sure the data collection and analysis methodologies they use align with your objectives.

Any firm that’s worth your investment will be able to explain how their approach can achieve your goals whether they are using in-depth interviews, online surveys, secret shopping, focus groups, or other data aggregation.

DO THEY HAVE A HISTORY OF SUCCESS WITH COMPANIES LIKE YOURS?

Find a firm that can provide references from clients with objectives like yours, then contact the references and ask them how they used the research. A good firm that is worth your investment should be able to connect you with satisfied clients who used their research to inform decisions. 

You can also consider other factors such as communication approach, available resources, and timeline of the project. But to begin, comparing market research firms with these three primary questions in mind will help you make a solid research investment.

If you’d like to learn more about how to meet your market research needs and gain actionable insights for your business, contact us at info@element212.com.

Share on facebook
Share on google
Share on twitter
Share on linkedin

Organic Social Media Management

Learn how to effectively use social media to build your brand and cultivate a loyal fan base.

This consultation includes the following components:

Interview: Element212 will review:

  • Your current social media platforms
  • Competitive analysis
  • Target market analysis

Recommendations:

  • Social media posting strategy
  • Content overview strategy
  • Strategy evaluation
  • Develop followers
  • Tools & Resource recommendations
  • Quarterly review
  • Consistent branding across social media platforms

Search Engine Optimization (SEO)

Learn how to optimize your website and improve your website’s ranking in search engines such as Google.

This consultation includes the following components:

Approach: Element212 will provide:

  • Keyword selection strategy
  • Step-by-step instructions to maximize on-site optimization for your content
  • Tips on where to place and link keywords on your website
  • 2 high-quality backlinks

Recommendations: You will receive:

  • An actionable strategy for improving on-site and off-site SEO
  • 3 & 6 month check in and recommendations

Full Brand Insights Research

Duration: 7-9 Weeks

We’ll take an in-depth look at your brand, communications & buyer’s journey to devise a comprehensive marketing strategy that works.

This consultation includes the following components:

Interview: One-on-one interviews with team members & customers or clients to uncover:

  • Company S.W.O.T.
  • Company Goals
  • Internal/external perspectives
  • Brand perception gaps
  • Customer persona
  • Differentiators
  • Internal & External expectations
  • Customer buyer’s journey
  • Perceived value and benefits
  • High value

Survey: Online customer & team surveys

Analysis: Current marketing audit

  • Marketing Collateral
  • Website
  • SEO
  • Content

Report & Recommendations: In-depth overview of your customer’s and team member’s brand perceptions along with a comprehensive marketing strategy and a Gantt timeline for the following:

  • Integrated marketing communications
  • Ongoing marketing messaging
  • Website audit
  • Brand positioning
  • Digital advertising

General Marketing Strategy

Duration: 14 days

Ready to step up your marketing? We’ll identify opportunities and develop a plan that capitalizes on those findings.

This consultation includes the following components:

Interview: Half-day team interview to uncover:

  • Company growth goals
  • Company S.W.O.T.
  • Brand expectations & voice
  • Company differentiators

Survey: Online customer & team surveys

Analysis: Current marketing audit

  • Marketing Collateral
  • Website audit
  • SEO audit
  • Content audit

Report & Recommendations: Data gathered to bridge the gap between customer & company perspectives with insights to shorten the sales cycle. This report includes marketing strategy recommendations and a Gantt timeline for the following: Website Social media Print marketing Digital advertising Public Relations

Agile Brand Insights Research

Duration: 5 days

We’ll take a look at your brand and identify opportunities for the advancement of your marketing efforts.

This consultation includes the following components:

Interview: Half-day team interview

Survey: Online customer & team surveys

Analysis: Current marketing strategy

Report & Recommendations:
High-level overview of your customers’ & team members’ brand perceptions along with marketing strategy recommendations and a Gantt timeline.

Buyer's Journey Research

Duration: 3 days

We’ll help identify your customers’ buyer’s journey and how you can influence their purchasing decisions.

This consultation includes the following components:

Interview: Up to 10 customer interviews

Survey: Online quantitative customer survey

Analysis: Secret Shopping (when applicable)

Report & Recommendations: Insights into the decision-making process your customers go through when researching, considering, and ultimately deciding where they make their purchase. This report also includes marketing recommendations along with a Gannt timeline.

Internal Team Communications

Duration: 7 days

Let’s take a look at your team’s internal and external communication processes and identify opportunities for improvement.

This consultation includes the following components:

Interview: Half-day team interview

Survey: Online anonymous team survey

Analysis: Secret shopping (when applicable)

Report & Recommendations: Insights report showing gaps and opportunities for internal communications & processes and marketing recommendations with a Gantt timeline.