Tips for Requesting a Market Research Proposal, Quote, or Estimate | 5 Tips

March 13, 2019

If your organization is considering requesting a market research proposal, quote, or estimate, we suggest you review these 5 tips. As a market research company in New York, we know a thing or two about what to look for when requesting this information.

 

Briefly, here are the factor(s) you should be considering when requesting a market research proposal, quote, or estimate:

 

① Responsiveness

② Excitement and interest

③ Background and experience

④ Bringing something new to the table

⑤ Cost options

 

 

Consider these 5 tips before choosing your market research company.

 

 

 

Tip 1: Responsiveness

We all know about those form fills or inquiries that go into the great abyss. In fact, we have sent many of these ourselves to unresponsive clients. We have an immediate need, we reach out through a website form fill, and? Nothing. Silence.

 

Has this happened to you?

 

Likely.

 

When you reach out to a market research company in NY, test the responsiveness. An organization that gets back to you within a few hours, or within 24 hours is likely a company that has it together and one you probably want to consider working with.

 

If you are waiting 6 days for a response it is probably telling you a larger story. Just think about this. That company will never offer better customer service or work harder for you than when they are trying to win your business.

 

Once they have it won, it's likely to go downhill.

 

Tip 2: Excitement and Interest

There is a difference between a market research company in New York who takes on new clients to simply execute a process versus one who is actually interested and passionate about the work they are likely to perform.

 

Our market research team loves what we do. There are market research companies out there that exist who simply enjoy the process. Things like writing surveys, programming surveys, analyzing data, etc. Passion often translates to higher quality work.


Be on the lookout for this in your communications via email, telephone, and in-person.

 

Are they interested in you? Are they interested in your project?

 

 

Tip 3: Background and Experience

It is important to inquire about past history, staff experience, and case studies for your vertical. If you work in retail, find a market research company who has direct or correlated experience in retail. If you work in higher education, find a market research company in New York who has worked in the educational space.

 

The benefit of finding a company with relevant experience is two-fold. First, they are more likely to understand the nuisances of your industry and second, they are able to make anecdotal comparisons and pull insights from other similar projects.

 

All in all, it creates a more comprehensive outcome for your market research.

 

 

Tip 4: Bringing Something New to the Table

A market research company can stand out for you if they offer something different. We get requests all of the time for specific methodologies. We often take a step back with our client to understand if there is a better methodology which will fit their objectives.

 

For example, some clients call us requesting focus groups. Depending on the project, we may suggest one-on-one interviews are a better fit for the objectives.

 

A market research company in New York with a lot of experience should be able to make suggestions to improve the scope or improve insights for your project. They should bring this to the table without having to ask.

 

 

Tip 5: Cost Options

Not all budgets are equal. Market research companies should understand this. Although there should be a recommended approach, the consultant should also consider offering varying levels or budget options.

 

For example, 400 survey responses is optimal. It offers a industry standard +/- 5% margin of error. At the same time 400 responses is more expensive than 200. If the budget is tight, the market research company should be willing to be flexible to offer options for 200, 300, and 400 responses.

 

 

 

Contact Drive Research

Drive Research is a market research company in New York. Questions about how we can assist with your market research needs? Our team works with companies and brands across the country creating custom market research projects to address needs.

 

Contact us below!

 

Message us on our website

② Email us at info@driveresearch.com

③ Call us at 888-725-DATA

④ Text us at 315-303-2040