This article was written by our guest blogger Marc Bovenzi, Business Development Associate at Research & Marketing Strategies (RMS). Marc recently registered for a Greenbook webinar titled “Research Industry Trends: Current Wave of Change and What’s to Come”. It was held on Thursday, February 6th at 12:00 PM EST. Below is his recap of some of the main takeaways from the webinar.
What are client’s looking for in a Market Research supplier?
”When your firm focuses on specific content marketing that defines exactly what you specialize in it will attract a lot more business and generate more referrals.”
The vendor selection process in market research can be defined with this key question in mind. As a research supplier, what is the real value you have to sell to the client? Claiming to be able to solve every client’s problems with your staff’s capabilities and still turn out high quality service may be unrealistic.
Market research suppliers need to help customers understand why and how they should use their firm. Specialization in one or two primary areas is the key to success. The reason it is successful is because the market research supplier creates a niche from which consumers can find you if they have a specific market research need. You will begin to build a reputation for “what your company is best at”.
The webinar argued that market research suppliers should choose up to two key areas and stick with it. The chart above describes how the big players in market research are categorized with descriptive words based on a study from Bottom Line Analytics. Bottom Line Analytics used the following five factors to categorize market research suppliers:
- Tech Infrastructure
- Trust and Diversity
- Speed and Size
- Innovation and Creativity
Great services are bought not sold. The spokesperson stated we are in a content driven society and clients have already done about 60% of their own research into vendors before they contact you. When a client calls a research supplier they want to confirm and assure that your firm can really do what you say your firm can do. This is the time as a market research supplier to demonstrate your ability to be a consultant, and that your firm has the knowledge and expertise to get the job done.
It is always best to add a human element into your research firm’s marketing to stand out from the competition. Being enthusiastic about what you do can lead to a better experience for potential clients and can resonate in all of your marketing communications, phone interactions, and personal client meetings. Simply being enthusiastic shows your firm is approachable and flexible to do what it takes to get the job done. In the end it’s all about the client and the results you can achieve for them.
RMS is a full-service market research firm located in Syracuse, NY. If you are interested in learning more about our research capabilities, please contact Sandy Baker, our Senior Director of Business Development & Corporate Strategy at SandyB@RMSresults.com or by calling 1-866-567-5422. Visit our website at www.RMSresults.com.