Are you planning to launch a new product? Or perhaps you want to run a marketing campaign?
If you answered “yes” to either question, one of the most important things you need to do is market research. Having a clear picture of your target market enables you to make informed product development and marketing decisions.
But how do you do market research? As a savvy business owner, the best move is to hire a market research company to do the hard work for you.
A new challenge thus arises. How do you find the best research firm since these firms aren’t created equal?
That’s why you’re here! Continue reading for a guide to hiring a market research firm that meets your needs.
Industry Relevancy and Experience
Market research isn’t an easy task. It requires proper planning, methodology selection, and resource mobilization among other things.
You want to hire a market research firm that has mastered the craft. Of course, almost every company on your shortlist will say and even showcase that they’re good at market research. How do you cut through the clutter and zero in on the best firm?
Easy. Consider industry relevancy and experience.
If you’re in charge of a trade school and want to introduce a new trade program, you want to hire a market research firm that specializes in higher education market research. Then, look at its experience doing higher education market research. How many research cases that are similar to yours has it handled?
As the client, you aren’t just looking for data. You want to understand what the data means. A market research firm with industry relevancy and vast experience will bring more than data to your table.
Quality of Leadership
Data integrity is paramount in market research. Yet, there are firms that resort to cutting corners with data collection and analysis, affecting the quality of the research.
How do you ensure you don’t end up with a firm that uses shady market research tactics? There are a couple of things to consider, including the quality of the firm’s leadership.
The chief executive of a market research firm is an important person. If they’re of irrefutable integrity and have plenty of experience working in market research, like Peter Dodge Hanover Research, you can count on them to ensure their firms have good market research practices.
Dedicated Project Lead/Manager
Market research is a complex, resource-intensive project – of course depending on the scale. You’re keen on hiring a firm with the resources to handle your assignment and deliver a report on time.
Don’t just settle on a firm because you think it has these resources. At the very least, you need assurances that you’ll have a dedicated project manager. This will be your point of contact throughout the project, ready to attend to your issues.
The Best Market Research Company Awaits
The quality of your market research can be the difference between launching a successful product or market campaign and failed one. It’s for this reason you need to hire the best market research company you can find. With this guide, hiring such a firm is now possible.
Explore our blog for more business management insights.