In the process of choosing a market research vendor? Here are 5 questions you should ask. Market research is a bit of a niche specialty. Market research vendors available are not as common as say marketing or advertising firms. Market research firms specialize in one or many forms of qualitative and quantitative research to collect feedback and data to help educate the marketing, operations, and strategy at a company. Market research ensures your next steps are fact-based and evidence-based.
Read more about the 5 questions to ask your market research vendor below.
Questions? We have your answers when you are searching for a market research vendor.
Question 1: What is different about your market research team?
We're all unique aren't we? What is it about this particular market research vendor which helps them stand out from the pack? Some focus on low cost. Some focus on timeliness. Some focus on advanced analytics. Some focus on specific types of quantitative or qualitative projects. Some focus on a single geography. Our 4 core values at Drive Research center around responsiveness, growth, perspective, and drive (or passion).
Question 2: What do clients love most about working with you?
If they are a strong market research vendor, they will be aware of what differentiates the firm from the perspective that matters most: their clients. We always talk about the quote: "Better is the opinion the buyer, not the seller." This is never more true than here. You may have factors that you think separate you as a market research vendor but are those the same values clients mention? At Drive Research, we conduct client satisfaction surveys after a project is completed. We relay these key points of satisfaction and drivers to loyalty in our proposals and presentations to prospects.
Question 3: What other experience do you have in our industry or space?
Some industries are more specialized that others. For instance, retail is a broad vertical which covers a lot of products and services. The required expertise to conduct market research in this arena is not as specific as conducting market research in the water and energy vertical. We see this additional expertise lend a hand in highly technical industries like IT, data security, manufacturing, and many more. Although industry experience is not a must-have for a good market research vendor, it can help separate choice A from choice B.
Question 4: Is this the best approach, do you recommend another methodology?
In sales we often fall into the trap of being an order taker and not a consultant. Order taking means an organization contacts a market research vendor and asks for 4 focus groups in Los Angeles California to conduct concept testing. In many cases the market research vendor will collect some more information, create a quote, develop a proposal, and send the prospective client exactly what they asked for.
But what if there is a better option available? A better methodology? Is your market research vendor making recommendations and suggestions for online focus groups, mobile ethnography, IHUTs, online surveys? Sometimes there are more cost-effective, timely, and better suited approaches for your objectives.
Question 5: Who is the team I'll be working with?
This is a classic one. Some of the larger market research vendors bring in the big guns to sell you on a project and once they have your signature and a signed agreement, they are no where to be found. Once they have you signed, they assigned entry-level and interns to your market research project. Other firms have sales persons who are not well-versed in market research and rely on the project management team to fill in the details.
As a smaller market research firm, I enjoy being involved in the research and helping clients choose a methodology and design a scope as part of the sales process. In a lot of cases, once a client signs-off on a project, I am also involved in the kickoff, survey review, testing, and report review. In this type of approach I can put my 15 years experience and passion for market research to work in all phases of the client relationship.
Contact Drive Research
Drive Research is a market research vendor serving the U.S. market. Our qualitative and quantitative research services span across the country from California to New York. Questions about an upcoming market research project? Contact us below.