The Most Important Thing You Should Know About Your Marketing Research Company

By Author: Seán McNally
Total Articles: 7
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The purpose of marketing research is to provide insight and guidance to help you make strategic decisions in your business. This can range from picking the right product mix to choosing the right price point and deciding which social media channels you should focus on first. Marketing research can also give insight into how well your current strategies are working so that you can adjust them as needed and improve your bottom line. The market research company in Sydney that you hire to help your business grow is just as important as the research they provide. It can be challenging to select the right one, but certain factors set apart good companies from bad ones. Read this article to learn how to choose the right marketing research company for your needs.

Why do you need a market research agency?

A good market research agency will provide a wide range of services, including but not limited to survey design, data collection and analysis, reporting and presentation of findings. Most people think that these terms are synonymous with any marketing research company in Sydney; however, they are quite different and confusing ...
... for many prospective clients seeking to hire a market research firm.

How to choose a market research agency?

While it’s true that sometimes a market research agency in Sydney can be beneficial, choosing one isn’t as easy as it sounds. There are a lot of agencies out there promising great strategies, but often those agencies don’t deliver. Ask yourself:

• How long has their agency been in business?

• What have they accomplished?

• How many staff members do they have?

• How many clients do they serve?

• Can they give references?

• Does their service suit my needs?

What are the different types of market research agencies?

There are three kinds of market research agencies: Full-service Research Agencies, Specialized Research Agencies and Consulting Firms. Understanding the difference between them is essential for selecting a market research partner. Basically, each kind has its own niche and offers something unique to clients. Each type also has different size operations in terms of their employee numbers.

Questions to ask market research companies when getting quotes:

Since there are hundreds of marketing research companies out there, it can be difficult to know which one is right for you. Here are some questions to ask before making a choice:

1) Will your team consist of experienced analysts and focus groups facilitators?

2) How much experience do they have with my industry and market?

3) How many projects per year do they work on, and how big are they?

4) How many years have they been in business?

5) What is their workflow process like – will I get regular status updates, or will I need to check in frequently?

6) What happens if something goes wrong or I’m not happy with a result?

7) Are they open to feedback and improvement suggestions – what has their response time been like so far when you’ve needed help?