3 Questions to Ask Before You Start Your Next Market Research Project

Article by Patrick Fiorenza, RMS Director of Research Analytics –
One of the things that I love about market research is that it provides the opportunity to use various methods of research. Qualitative techniques like focus groups, in-depth interviews, observations, or intercepts work differ from quantitative methods like surveys or accessing secondary data resources. Then, when working on the analysis, there are many statistical options to explore.
The key to a successful market research project rests in doing a lot of upfront work to ensure quality information comes from the study. Early conversations for any market research project should focus less on a method and more on the purpose. Also, sometimes doing additional analysis or providing a deeper reflection can help unravel the real issue.
A Scenario
A surgery center is struggling with employee retention. The organization is seeing high turnover and patient satisfaction is suffering because of staffing issues. Leadership believes that the problem is due to a turbulent market, and they believe the issue is driven by external factors. The organization decides they want to solve the problem of employee retention and asks the question: why don’t our employees stay? When they start to look at the data, they notice that the turnover is highest among staff who have been with the company for less than a year, and exit interviews point to these employees feeling that they weren’t provided with adequate training. Armed with this information, management has a more focused problem to solve (onboarding and training) and asks a better question: how can we expand training/onboarding to improve retention?
In this scenario, there is nothing wrong with the approach of trying to tackle employee retention – it is a major problem for the organization – but by looking at existing data and asking a more nuanced question, a clear problem emerges. This approach may come naturally in pre-planning meetings or survey design discussions which allow the right questions to emerge. However, sometimes the challenge is to understand the real issue.
Think More Strategically
When you begin, don’t think about methods, data collection activities, or the nuts and bolts of how a study will be run. Think more strategically. Here are three suggestions to consider when starting your market research work:
- Question 1: What problem do I need to solve?
- Question 2: What can I realistically accomplish from engaging in a market research project?
- Question 3: What are the top 3 insights I want to learn?
Once the answers to these questions are well understood, you can start to align your questions to the research method (qualitative or quantitative) and analysis procedures. By focusing on these three questions, you will be on the path to success with your next research project.
Taking time to assure you’re asking the right questions is an important first step in planning a market research study. With a vague or ill-defined purpose, the quality of the results and your ability to act on the recommendations will be in jeopardy. Take the time to ensure you’re asking the right question, aligned with a clear purpose, to set yourself up for success with your next market research project.
RMS Relational Information:
How to Design Your Next Feasibility Study
How Market Research Supports Your Grant Writing Initiatives
Recruiting the Right Participants for Your Focus Groups: Best Practices
About the Author – Patrick Fiorenza
Patrick is passionate about helping clients achieve their goals and designing effective strategies through customized market research projects. He has extensive experience in survey design, data analysis, and qualitative, quantitative, and mixed-methods research. As the Director of Research Analytics, Patrick monitors all aspects of the research project, assuring validated and high-quality results are provided to RMS clients. He is also passionate about providing coaching to analytic staff and collaborating closely with clients to ensure needs are met. Pat holds a master’s in public administration from Syracuse University and is pursuing his doctorate in curriculum, instruction, and science of learning from the University at Buffalo.
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About RMS
Research & Marketing Strategies, Inc. (RMS) is a full-service market research firm in Central New York. Formed in 2002, RMS helps organizations that are looking to know more about their customers and/or potential customers. We conduct surveys, focus groups, mystery shopping, studies, and analyses. Each project is customized and gets personal attention so that actionable, data-driven findings are delivered. RMS has a reputation for getting results. We offer an independent, professional means to conduct telephone, on-line, and mail surveying, as well as in-depth interviews, intercept interviews, and participant recruitment. We also host discussion groups through QualiSight, our onsite call center and focus group facility. We have a proven reputation for successfully recruiting and moderating focus groups, community forums, and town meetings.