Have you ever had a collaboration with a market research agency, or are you looking to start your first partnership to get ahead of the competition? This article is here to help! We’ve put together a toolkit for business owners and managers interested in market research, designed to help you achieve the insights you need based on your specific goals and challenges.
A primary market research collaboration can be a complex process, and it can be challenging to navigate all the details if you're new to it. That’s why we’re providing an overview of the entire market research journey from the client’s perspective, highlighting key steps and considerations for a successful outcome.
1. What Should You Do Before Requesting a Market Research Quote?
You don’t need to be a market research expert to kick things off—that’s what we’re here for! However, having a clear idea of your needs and objectives can set the stage for more precise and useful insights.
Start by considering what specific insights you hope to gain. What are the key questions, challenges, or goals you want the research to address? The more specific and focused your questions, the more actionable the insights will be.
For example, instead of a broad objective like “I want to understand my audience's preferences” think along the lines of “I want to understand German millennial women’s preferences for eco-friendly products in the skincare category”. This approach helps in crafting a more targeted research strategy.
Checklist for Preparing Your Research Request:
If you’re uncertain about any of these aspects, don’t worry! We're here to help refine and clarify these points with you.
2. What to Expect After Reaching Out to a Market Research Agency
Once you contact a market research agency with your request, you may receive either a quote or a series of follow-up questions, depending on the agency’s process. At Enäks, for example, we typically send a detailed market research brief to gather more in-depth information about your goals and project details. This helps us understand your situation and challenges fully. We also suggest a kickoff meeting to review and refine the brief together and address any questions you might have.
During this stage, it’s beneficial to:
Ask Questions: Don't hesitate to ask about any part of the process. It's important that you understand how the research will be conducted and what to expect.
Align on Goals: This is the time to finalize the research objectives. If your initial goal was broad, we'll work together to narrow it down to a specific focus. This helps ensure the research aligns with your expectations.
Consider Suggestions: We may suggest different approaches or methodologies based on your needs. These recommendations are tailored to help you get the best possible insights.
3. Understanding the Research Proposal
The research proposal is a key document that outlines the specifics of the project, including goals, methodology, target audience, sample size, questionnaire length, and cost.
Here's a breakdown of what to look for in a proposal to ensure you have all the necessary information to make an informed decision:
Research Goals and Questions: Ensure these are clearly defined and align with what you want to achieve. The proposal sets the foundation for the research, so it’s important to get this right. It's worth noting that after the proposal is set, adding new ideas or questions can be challenging. Changes to the questions or criteria can significantly alter the proposal's content and may impact the research outcomes.
Target Audience: Clearly defining your target audience helps tailor the research. If you're not sure who your target audience should be, we can assist in refining this together. However, try to avoid making changes to the audience definition after the proposal is finalized, as this can affect the research's scope and focus. If you wish to explore specific sub-groups, this should be discussed and agreed upon during the proposal phase.
Sampling Method: Understanding the sampling technique used in the research is key. Many research companies use quota sampling, which can be representative to a wider population if done correctly. If the proposal doesn't specify the sampling technique, it's worth asking for clarification, as the method used can impact the validity and reliability of the results.
Sample Size and Timing: The proposal will provide estimates for the timing and cost of the research. These are typically based on the scope of the project and can vary depending on the fieldwork's progress and any unforeseen challenges.
To ensure a smooth and successful collaboration with your market research team, consider the following tips:
Engage Openly: Don't hesitate to ask any questions or express concerns about the proposal. Clarifying everything beforehand helps ensure that the research aligns with your expectations and needs.
Share Your Insights: Your knowledge about your business and market is crucial. By providing detailed input and feedback during the research design phase, you help us craft a more tailored and effective study.
4. After the Proposal is Signed
Once the proposal is agreed upon, our collaboration moves into the next phase. Here’s how we can work together effectively:
Stay Engaged: We'll keep you informed throughout the research process. Your feedback and insights are invaluable, so feel free to share your thoughts and ask questions at any stage.
Focus on Agreed Areas: The proposal outlines the focus areas of the research. If new research questions or interests arise, we can discuss them for future projects.
Provide Necessary Information: If there are specific areas you'd like us to explore, sharing these details helps tailor the research to your needs.
What’s Next?
Put your newfound knowledge to work and get the valuable insights you truly need. Have questions about the market research process or anything else? Feel free to reach out to Enäks. We're here to help! Until we connect: prepare, transition, and harvest!