In every industry, there are a small number of class-leading firms who set standards, establish frameworks and develop visions. Then there’s the pack of middle-of-the-road firms that work hard, but simply do not have what it takes to reach and stay in the upper echelon.
Naturally, this distinction between elite and ordinary is clear in the market research industry simply because it is a competence and performance-driven field. In other words, there is no place for incompetence or inexperience to hide in market research. All of the buzzwords, slogans, promises and hype in the world mean nothing at the end of the day if you can’t back it up with results. So if you’re looking for one of the top market research companies, here are the core characteristics that set them apart:
1. In-Depth Experience
The learning curve for market research is not just steep; it is like scaling a vertical cliff wall (i.e. the kind that many skilled mountaineers would not dream of going near). There are multiple fields of knowledge and specializations that comprise market research, everything from research design to data generation to analysis and reporting, and the list goes on. There is simply no substitute for in-depth experience. Top marketing research companies have scaled the cliff -- many times.
2. Comprehensive Data Gathering Expertise
Amateur and middle-of-the-pack market research companies point, shift or manipulate clients into choosing a certain data gathering method (or more often, accepting a proposed research methodology). This is simply because these companies have a select area of expertise – i.e. a “wheelhouse” – and they need clients to fit within it.
For example, they may have familiarity and confidence with online survey tools, but not with recruiting for and conducting in-depth interviews. Well, guess what? 10 times out of 10, their proposals will emphasize the glory of online surveys, and ignore – or at least criticize and eschew – in-depth interviews. Is this because they legitimately and objectively assess that online surveys are suitable to solve their client’s research objective? No. It is because they want to play to their strengths.
On the other end of the spectrum, top market research companies have no bias towards any type or types of data gathering method. They are just as competent with online surveys as they are in-depth interviews (and any of the other dozens of possible options). As such, their advice and recommendations are not based on any self-interest, and they can focus on doing what is best for their client.
3. Dedicated Project Managers
One of the most obvious differences between top market research company and those that do not make the cut, is that the former insists upon assigning dedicated project managers to each project and/or client on their roster. Does this eat into the profit margin of these market research companies? Absolutely. Does that dissuade them from doing it anyway? Absolutely not!
Top market research companies know that clients do not just deserve a professional and dedicated (read: not an intern or someone who has four other job titles) project manager, but that this resource is required to support the integrity and efficiency of the engagement, and ensure that the project yields client-facing results and ROI.
Learn More
At Communications For Research, we are proud to be one of the nation’s top market research companies. We have in-depth experience, comprehensive data gathering expertise, and we always assign a dedicated project manager to each engagement.
If your business is looking to partner with an industry leader, contact us today and schedule a call with our CEO Colson Steber to learn more.
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