We are living in the age of consumer convenience. Shipping is as fast as the blink of an eye. Purchases can be made online with a single click. Customer support is available around the clock. Businesses are catering to the demands of consumers like never before.
Now we are seeing businesses that want to experience this new standard of service for themselves, and who can blame them? In the market research industry, these emerging client needs can be met through a partnership between the client and a market research firm.
A market research partnership is a business relationship that goes beyond the contracted work for a project. As I'll cover in this post, the benefits of a research partner include one point of contact, time savings, personalized work, and a sense of trust.
A market research partner can take a huge weight off of your shoulders for any research needs. Read on to see what benefits a partnership could offer you and your company.
#1: One point of contact for research needs
When a client establishes a partnership with a market research firm, life becomes a little easier. Having a partner eliminates the need to engage multiple vendors to get the work done.
It is not uncommon for a market research effort to consist of multiple phases with varying methodologies. For example, a project could start with some exploratory in-depth interviews then turn to validate the findings in an online survey.
In a growing number of cases, clients would prefer to work with a full-service market research firm to handle all aspects of a project. What components a market research partner can't complete in-house can often be outsourced to an experienced vendor within the firm's network.
All this means the client only has to worry about communication with the market research partner, who will oversee the process from beginning to end.
#2: Save time throughout the project schedule
Turnaround time for a market research project is becoming increasingly important. Client deadlines are rigid, and decisions are depending on final research reports.
The process to draft an RFP, notify candidates, evaluate bids, and select a winning proposal can easily take a couple weeks, if not months. With a research partner, the bidding process for a new project can be accelerated if not removed completely.
Repeat business also presents an opportunity for automated invoicing and payment to save time, as well.
#3: Personalized work for client preferences
A mutual understanding of each other's work flow can make for a smooth process between a client and research partner. A research partner will have knowledge of the right frequency of client updates, formatting of reports, cuts of the data, and content of the recommendations.
Training for client tools and procedures only needs to occur once, as well. Once familiar with one another, less time and effort for both parties is necessary to achieve a satisfactory report.
#4: Trustworthy results will be delivered
A market research partnership provides an additional layer of value to the client. Unlike a one-time contract with a market research firm, a trusted partner can play a significant role in developing insights and strategies for a client.
With a deeper understanding of the client's business, a research partner can more easily offer actionable recommendations. Thoughtful suggestions for follow-up market research services can help prevent the research from hitting a dead-end, as well.
Above all, a client can rest assured that the work of a partner will be completed on time and at a desired level of quality.
Contact Our Market Research Company
Drive Research is a market research company in NY. We work with a number of clients in a variety of industries to execute market research projects. Our team assists with setting up objectives, defining a methodology, executing fieldwork, analysis, and reporting.
Questions about an upcoming project? Contact us below.