Choosing a partner to undertake research on your behalf comes with its challenges. You’re making a substantial investment based on a company’s promise to do what it says it can. To help you with the decision-making, here are three questions quantitative market research companies often get asked by potential clients.
1. What Is Your Firm’s Capacity?
The efficiency of quantitative market research companies is significantly impacted by their capacity. If a company lacks a robust staff or is currently overburdened with other projects, it might significantly affect the timing, delivery, data quality, and market insights of your research project. Before making a decision, investigate a company’s team of specialists and their areas of specialty to evaluate if they can manage the size and breadth of your project in a timely and effective manner. In contrast, is the organization so big that you and your project will be shuffled among several employees, resulting in a lack of individualized care? You should make sure you are hiring a company that has time for you.
2. Will Your Company Provide Actionable Insights?
It is not enough for a market research business to provide data; they must also provide actionable insights. Ask potential companies how their research will assist you in making a final decision. After the research is concluded, will they just send you the tabulations or just the raw data and bid you good luck? Or will they guide you through an informed evaluation of what the data implies in relation to your core research question and objective? Do they have industry knowledge that can be beneficial for your research findings and provide you with a deeper insight into your consumer and market?
Examine how objectives are stated in conversation and the sales proposal you get. Choose a company whose aims are tailored to your decision-making. Is their purpose only to conduct a brand awareness survey for you, or is it to assess the overall brand health of your firm in order to uncover opportunities for boosting brand recognition and conversion?
3. Do They Have a Track Record of Success with Businesses Similar to Yours?
A leading market research organization will have a solid reputation for dependability and stability. You may verify this characteristic by examining reviews, reading testimonials, and contacting former clients who were pleased with the outcomes. It is a good idea to obtain recommendations from previous clients whose company objectives are comparable to your own. Then, ask the references how they utilized the research. A reputable market research business would gladly provide you with the contact information of delighted clients whose decisions were informed by their research.
In addition to using internal information and secondary data sources, it is essential to work with quantitative market research companies that can provide deeper insights into your brand and individual goods. According to QuestionPro, there are 44,000 businesses in the United States that offer market research services. Reach out to us today to learn more about what our company has to offer.