From identifying business problems to changing market trends to finding new product opportunities, businesses need proper industry insights constantly. They look for market research firms that can help them with end-to-end market research services to get the right business data. However, with so many service providers in the market, it becomes harder for brands to choose the right market research firm that can truly help with insightful business data.
Since there are only 24 hours in a day and just one of you, we’ve created a 10-point checklist to help you choose the right firm for your next market research project:
Here is a 10-point checklist to help you choose the right firm for your next market research project.
1. Research Objective
2. Methodologies
3. Work Experience
4. Timeliness
5. Pricing
6. Responsiveness
7. Scalability
8. Data Security
9. Data Quality
10. Code of Conduct
1. Research Objective
Primarily, a market research firm should be able to comprehend business objectives before conducting market research. A properly formulated objective facilitates the development of the research methodology and provides direction to the study. You should look for a research firm that has a clear understanding of the industry, business, and environment.
Here at ActionEdge, we put emphasis on understanding the brand’s business goals, streamline their research project, and earn positive results. To know more, check out our services https://www.action-edge.com/fieldwork-services/
2. Methodologies
As brands demand deep insights, offering multiple research methodologies becomes essential depending on what they want to know. Be it qualitative or quantitative research methods, research firms should adopt the right methodology to collect the right data.
You can rely on ActionEdge for fieldwork and data services that will help you concentrate on your core business whilst we get on with gathering the information. Our core services include CATI, CAWI, IDI, Appointment Setting, and Phone2Web Via Screen Share.
3. Work Experience
If you are selecting a market research firm for getting insights into your customers’ thinking or buying patterns – surely you want to work with experienced research experts in the industry. So before you narrow down some service providers, it’s advisable to find out their work experience and success stories that highlight their expertise.
With 11 years of work experience, the ActionEdge team helps brands and businesses with end-end market research services assuring accurate business data for every research project. Our company directors have extensive experience in working on numerous projects of varying, size, duration, and purpose. Through different techniques and research methods, expert consultation, and data reporting, we ensure quality project delivery to our clients. Read out our case studies to know more about our expertise – https://www.action-edge.com/client-leverage/.
Since we have worked with top most, medium-sized and also small firms, client references are also available upon request.
4. Timeliness
Sometimes research projects often get delayed and are at risk to deliver results on time. When this happens, it is a clear indication that the research firm selected wasn’t proficient enough to finish the project on-time.
So, how should brands get assured of timely project delivery? The answer is simple! Look for firms who can deal with tight-turnaround projects and can be quick on keeping a project on schedule.
At ActionEdge, we always strive to provide an accurate estimate of the turnaround time for each project we do. And to date, we have always been successful to complete every project on time.
5. Pricing
Brands are willing to set aside a budget to accomplish their market research objectives. However, they would always want to be assured that they do not overspend and do not work on unnecessary and pricey research projects with no valuable data in return.
Before selecting a market research firm, brands should clearly state the type of market research they need and on the other hand research firms should associate the right cost to every project they undertake. Be it secondary, qualitative, or quantitative market research or some combination, the pricing should be completely based on the scope and methodology of the study.
At ActionEdge we provide effective, efficient, and accurate market research services at competitive pricing. Our project management team always runs a technical, financial, and operational feasibility check on the project before they get started.
Also we generally don’t raise our prices to adjust for the extra work shared by our clients.
6. Responsiveness
Once the research project begins, brands would like to get involved in constant discussions and updates. They look for research firms that are responsive and also extend ad hoc approach as per client requirements. The agency should.
At ActionEdge, we provide regular updates on the progress of surveys and interviews plus share timely status reports with the clients. The team continues to work round the clock to keep the project moving across time zones.
Also, our in-house experts have a flexible approach and always ready to handle last-minute requests.
7. Scalability
Research firms that can perform well under increased workload or huge operational demands unquestionably become the preferable choice of businesses.
ActionEdge has experienced heavy workloads multiple times and has always
strategized well to meet customer needs in terms of resources, process, and technology. The team is always prepared to handle any immediate upscale activity.
8. Data Security
Data privacy and security have always been concerns when a brand plans to outsource research projects. The onus is always on market research firms to guarantee complete data security. Also, they need to ensure those panel members and suppliers are capable enough to carefully handle business data.
At ActionEdge, data security is the topmost priority and the client data is always safe and secured at our end. Check out our privacy policy to know how we handle and protect your information.
9. Data Quality
It goes without saying that data quality is a key component of any market research project. Every organization looks for good quality findings and results. A market research firm should ensure that data collected from respondents are correct, valuable, and insightful.
At ActionEdge, monitoring the quality of your data is a top priority –as everything relies on it.
10. Code of conduct
Before partnering with a research firm, brands prefer to check credibility and ratings to get quality data to draw meaningful conclusions. An industry-recognized certification helps firms to differentiate from the many existing players and help them validate their research expertise. So next time look for research firms who are certified and have enough credibility to showcase their quality work.
ActionEdge is one such company which complies with the ICC/ESOMAR CODE and ESOMAR WORLD RESEARCH GUIDELINES, MRS and MRA standards. We are also ISO 9001:2015 & ISO 27001:2013 certified and GDPR compliant company.
By marking off each checklist, you will be well on your way to choose the right market
research firm for your next project. And if are looking for fieldwork services on
priority. We can help! Reach out and schedule a call today with our team!