People of a certain vintage may remember an old TV commercial that said “an educated consumer is our best customer” (and those of you who missed it the first time around can watch the company’s chairman and wife proclaim it via the magic of YouTube).
Regardless of whether one is selling (as in the case above) men’s clothing or, indeed, market research, the wisdom still holds true: educated consumers are without question the best to work with. Not only are they engaged and focused, but they help co-create better outcomes and results. In other words: educated customers are also more successful customers.
At Communications For Research, we not only strive to educate our customers, but we actually insist on it. Meaning we ensure that our clients are empowered with the background, information and insights they need to make smart decisions for their business. We would expect and demand nothing less in their place.
So, with the above commitment to education in mind, here are 3 things you should know about your research opportunity before finding a market research agency – so that you can ultimately focus on potential partners that are invested in your long-term success, and avoid those that are only see you as a source of short-term revenue (because sooner rather than later you will hit the stop button when you realize they are wasting your time and money).
1. Your research opportunity is almost certainly larger and potentially more valuable than you think.
First off, this is meant to be inspiring and not daunting. It is not the same as warily taking your car into a repair shop because you heard a rattle, and after an inspection watching the mechanic walk towards you with three pages of notes -- and a grin that rivals the Cheshire Cat’s.
The point here is that while you may be focused on a certain problem or question – such as “is there a market demand a potential product?” -- the market research project will almost certainly reveal insights that can be applied to multiple areas of your business; and not just (in this case) product development or product positioning.
2. It is fine – and in fact, typical – if you do not completely know what your research opportunity is.
Patients do not (thankfully) have to become MDs before visiting a doctor, and clients do not have to trudge through many years of law school before hiring a lawyer.
Similarly, you do not need to worry or waste time and other resources trying to precisely articulate your research opportunity; because, quite simply, that is the job of your market research agency. Yes, you will provide essential direction and input. But it is the responsibility and obligation of your market research agency to refine and clearly identify the research opportunity that is going to resolve your business need. Often, the research opportunity that you think you need to pursue is not the one that you ultimately need to achieve your best outcome.
3. Not all market research agencies are the same.
To ensure that you get the support and solutions you need, keep in mind that not all market research firms are created equal. Some are full service end-to-end firms, while others have limited capacity. To help you understand these differences and ultimately make the right choice, read our article “What to Look for When Hiring a Market Research Firm”.
Communications For Research: Educating You is Our Priority
At CFR, we pride ourselves on educating our clients on every aspect of market research, including (but not limited) to their specific research opportunity. To learn more, contact us today and schedule a chat with co-CEO Colson Steber.
While learning more about your business, Colson can give you feedback on your research opportunity and help you learn more about the market research your question might need in order to be answered.
For more information on market research and how to communicate the value of it to your clients, download our FREE eBook: