Why Deciding to Conduct Market Research is Only Half the Battle

Don’t get us wrong: market research is everything to us. What better way to meet the needs of your target audience than with wisdom gathered directly from them? But before you can get to the customer insights you crave, you have to figure out who will conduct the qualitative and quantitative research you need. So finding the right market research partner will require a little researching of your own.

There are a number of factors to consider when choosing the right research partner for your next project. You’ll need someone who understands not only your concept or product, but also understands the tenets of effective research, as well as how to convey results so you can understand as well. Below are a few standards to maintain when searching for and vetting potential research partners.

1. They know the right methodology for your project needs, questions, and goals.

As we’ve covered when debunking myths about online market research, a researcher doesn’t really need to understand all the detailed complexities of your industry: they need to understand research.  A good research partner should be well versed in the various methodologies available and find the right one for the project goals and key questions your team has communicated.  Partners should be able to demonstrate their abilities via case studies, webinars, and trusted referrals. It’s important to establish a level of trust before conducting market research so that you can comfortably let your research partner manage their end of the project.

2. They operate effectively within your research scope.

Your company’s internal hurdles, time constraints, research needs, and budget can filter many suppliers out before they start. For example, if concepts end up being tested late, a quick-turn supplier is better than one with more extensive timeline, so you’ll need someone who’s fast enough for those deadlines, but flexible enough to handle any last-minute obstacles. Or maybe you have some sensitive questions that require honest answers: an online qualitative researcher might offers the anonymity needed for honesty that traditional focus groups lack. A truly great partner will be honest with you about their capabilities and the best method for your project, timeline, and budget.  

3. They will be a true partner to your team throughout the process.

We want researchers to not only complete the project, but also take our study to the next level. In order to do so, research vendors should become a partner and an extension of your team. A good partner will put forth that effort, asking as many questions about how your team does business as you might be asking about theirs. Productive collaboration should be the name of the game from the beginning, so be wary of any sort of reluctance or feet-dragging on their end. An effective research partner will seek all the information they can on your project, product, and brand, while answering your questions and communicating progress.

4. They work to ensure the highest level of quality in respondents.

When it comes to market research, your results are only as good as your respondents, so you want to make sure they’re engaged, and committed to giving quality answers. In order to elicit the right insights from the right people, researchers should help determine what demographic, psychographic, and behavioral screens are needed for your project. And if the project is international in scope, find global panel providers who understand cultural nuances. This all becomes even more important when conducting market research online, and your team will want to ensure there are steps taken to monitor detect fraud. To learn more about ensuring respondent quality online, check out this blog that answers many FAQs about the process.

5. They analyze your findings—instead of dumping a bunch of data in your lap.

An insight is more than a piece of information: it is an actionable implication of thorough research that spurs business decisions. For example, when performing quantitative research, it’s not enough to simply see which concepts won and lost. An effective researcher will analyze the whys behind this data, how it answers your key questions, and what it means for product development or copy refinement. This ensures that the research has impact, which implies the insights will be understood and utilized by the client. The more you include your partner in an iterative research process, the better the chance of keeping your findings alive in an experiential and memorable way.

With the constant need to do more with less in the market research space, it’s imperative to connect with valued partners who understand and optimize their efforts. Speed, quality, and affordability are more important than ever, so don’t hesitate to ask a lot of questions before you begin. To see an example of how Bumble Bee Foods successfully executed an insight-driven product innovation process with the help of an agile research partner, check out the case study below.