Since bigger isn’t always better, we thought you might be wondering about the advantages of working with a small market research firm. There are lots of benefits to working with a start-up company and a small market research firm but we'd like to recap 3 of the major ones in this post.
Never forget - Team work makes the dream work.
Let’s face it. Innovation is all around us, which can make several market research processes better and faster. If you’ve conducted market research before, I’m sure you know a true differentiator of a good market research team is good communication coupled with the ability to deliver high quality insights. Here's how the best Voice of Customer (VoC) companies excel.
Here are 3 advantages of working with a small market research team below!
Advantage 1: One Team, One Vision, No Silos
One of the best parts of working with a small market research team is that the team you discuss your research goals with during the proposal and design phase is the same team you work with when the project is ready to roll.
Picture this. It has taken a year for your company to finally get behind the launch of a customer experience (CX) program. Over the course of a few months you evaluate several vendors and the team settles on one.
You've spent countless hours with that business development rep explaining your goals and objectives, laying out the foundation, and helping her understand the nuisances of your business structure.
You chose this company because they get it, they get you. You sign on the dotted line and? "Let me introduce you to Jeff. Jeff, who you haven't met yet, will be taking over from here. Nice knowing you!"
They hand you off to their market research team who you have to reexplain everything you've just spent the last 3 months talking about with your rep. Sound familiar? Frustrating right?
Smaller market research firms give you a team that starts and finishes your market research project. The same team handles the scope, the proposal, methodology, fieldwork, analysis, and reporting. Talk about seamless.
As provided in the example, larger market research firms often have a sales or business development person or team that introduces the research team once the project is signed off on. When the team you work with during the proposal phase isn’t the research team, errors and problems can pop-up and you often have to start from square one again.
Besides, don't you want the person who sells to you to get their hands dirty and have experience in market research? Don't you want someone who has been in the trenches and understands all the ins and outs of the industry? We think this provides smaller market research firms wtih a unique advantage. Selling is one thing, but selling market research is a whole different thing. This experience goes a long way when you are seeking bids from market research firms.
As a researcher, every detail is important which makes our involvement during the proposal phase critical. With a small company it's the same team on Day 1, Day 100, and Day 1,000. From proposal straight on to the report.
Advantage 2: Responsiveness = Action
Of course I can’t speak for every small team, but small close knit teams are able to work together quickly and efficiently. Instead of waiting a long time for a proposal, small teams can often get you something within just a few days, or even within 24 hours if your needs are immediate.
Searching for more about proposals? Learn the 7 components of market research proposals.
You can see responsiveness come into play with other parts of the research process as well. Think of the proverbial “red tape” replaced with free and open communication lines between all team members. These open communication lines enable input and feedback to accelerate the research process instead of pausing it.
Dream big kid. Anything can be accomplished if you put your mind to it. So on. On the fly thinking, responsiveness, and action enable growth. Processes, procedures, red tape, and corporate ladders disable it.
High five to small market research firms out there. We salute you.
Advantage 3: Strong Team Communication
Small teams know how to work best together and be most productive. Strengths and weaknesses on a small team are highly visible and have nowhere to hide. Therefore smaller teams can adjust on the fly to make sure strengths are being maximized. Simple day-to-day job duties like Employee A is really good at this, so I will take care of this job so she can spend more time on that can be enabled.
Ever heard the term "that's not my job?" Probably far too often. Especially in larger market research firms. As a start-up and small market research firm "everything is our job." We are all responsible for the firm's brand, client communication, growth strategies, quality products, and everything else you can imagine that comes with running a business. We take ownership in everything from A to Z.
We all have stake in the game and it's easy to align our vision. Our vision just happens to be supported by our services. We believe you should act in the best interest of your customers. Always. Not sure what your customer wants or needs? Ask. Then use that feedback to drive your operations, strategy, and marketing. Seems too simple right?
Looking for more? Contact us!
Drive Research is a market research firm in Syracuse, NY. We specialize in a variety of services, industries, and markets, but more importantly we’re dedicated to providing better data, better decisions, and better strategy. We believe in better.
Call us at 315-303-2040 or send us an email at [email protected].