For marketing agencies, competition for quality clients is not just fierce: it is relentless! At the same time, marketing projects and campaigns are growing increasingly complex and multifaceted, which makes protecting profit margins tougher than ever.
Yet despite this, successful market agencies are thriving and creating an even wider gap between them and their struggling counterparts – and one of the biggest factors on the side of successful marketing agencies is their partnership with a market research consultant. Below, we highlight the 5 reasons why this is a smart, strategic and successful move for marketing agencies of all sizes, from boutique firms to enterprise-level providers:
- Defining Problems: A market research consultant helps define the optimal problem that clients need and want to solve. Marketing agencies can integrate these essential insights into various projects, programs and campaigns, and put their clients on an early track for success.
- Knowledge Capital: A market research consultant has a deep understanding of the advantages and drawbacks of all qualitative and quantitative data gathering methods. This is vital knowledge capital that most marketing agencies do not have in-house, but clearly need in order to find the most effective and efficient way to serve their clients’ needs.
- Project Management: A market research consultant helps marketing agencies develop and execute every aspect of their clients’ market research projects. Just as importantly, they ensure that the project does not fall off the radar screen when (not if!) things get hectic and frenetic at the marketing agency.
- Reporting: A critical but often overlooked piece of the market research process is reporting; not because marketing agencies fail to deliver reports, but they often do not realize that there are various groups that want different types of information. For example, within a single client, sales teams may be interested in psychographic buyer persona profiles, while product development teams may be competitive analysis, and so on. A market research consultant ensures that marketing agencies meet the reporting needs of all client-side stakeholders.
- Account Development: Last but certainly not least: a market research consultant helps marketing agencies identify account development opportunities that are in their client's’ best interest, such as targeting new customers, shaping or optimizing marketing messages, and so on. This not only leads to more successful outcomes, but it also drives client engagement and loyalty. If your marketing agency can show that it is actively looking for new ideas and proving that you can deliver success through data-driven insights, your retention rates will be high while your customer base will grow.
To learn more about why successful marketing agencies partner with the proven, experienced and professional marketing consultant team at Communications For Research, contact us today. We work with hundreds of marketing agencies around the U.S. and we help their clients achieve success through data-driven marketing campaigns. In fact, 90% of our first time clients have become long term clients because we deliver service that wins repeat business.
When working with our marketing agency partners, CFR understands that when you win, we win. Therefore, we do everything in our power to support your marketing efforts through research recruiting, research design, data collection and analysis. When you make smart decisions that are backed up with data and research, your clients become more successful so in turn, your marketing agency will keep winning new business and retaining your current business.
For more information about how market research helps marketing agencies, download our FREE eBook: