Businesses are born and die each day. The key to a sustained and productive company lifespan is constant review, innovation and growth. And one way to officiate meaningful analysis, creativity and advancement is by finding a business research firm to assist you. Business research firms specialize in finding and evaluating data so that companies can better manage themselves. When searching for a business research partner, companies should consider these four tips:
Examine Their Listening Skills
It’s a no-brainer: a good partner listens. Make sure the business research firm you choose has the experience necessary to listen to your objectives and devise a specific plan of action tailored to your unique needs. Do they make the time to sit down with you in person? Do they ask detailed questions about your company and its goals? A business research firm can’t help you if they don’t understand what you want. With sensitive and critical information to gather, you need someone who really understands you, in addition to the process itself.
Qualify Their Research Methods
Do they use both primary and secondary sources? Are they capable of large-scale data gathering and organizing? Can they provide certified accountants to manipulate financial records? Are they experienced in a variety of technologies? Will they use multiple methodologies? All of these skills, and not just one, should be prerequisites for working with you. You need a firm that is well-rounded, not a one-trick wonder.
Confirm Their Data Integrity
The data your partner collects for you should be obtained in an ethical manner that ensures quality and relevancy. People frequently disclose personal information to researchers; it’s vital for your partner to treat that information with respect and use it in an educated and appropriate manner. It might make sense to check for their membership in any professional associations, as well as ask to see if they follow any professional standards or codes of conduct. Ask how they control their accuracy. Confirm the guidelines they use to gather, handle and store confidential information. Your partner should value integrity in both their numbers and themselves.
Verify Their Delivery Practices
It’s important to have good data. And it’s important that it’s presented well. A quality business research firm will answer all your questions in a timely fashion. They will use a variety of models to analyze and document their findings, including various matrices, modes of analysis, mapping and benchmarks. They will present it all to you in relevant ways, whether that be via an excel sheet, a PowerPoint presentation, a case study or any other method. A good partner can, and should, get as creative as possible, as long as the delivery mechanism makes sense and adds value to the information at hand. Finally, sources should be extensive, covering all aspects of the project, and presented along with the findings.
Communications for Research (CFR) realizes the importance of partnering with a business research firm that understands your needs and champions your strengths. Contact us to learn how we can join forces to create meaningful and actionable results for your business that improve productivity and encourage future growth.
You might also wish to check out our FREE video, The 5 Most Common Mistakes for Market Researchers to Avoid, for additional tips to consider when undertaking any market research project.