Before you start research on a topic of interest, take a moment to think about your plan. You could miss a key point or discover your results are skewed if you don’t follow these golden tips.

Tips For Great Market Research

Here are 11 great tips to apply and get your market research done perfectly.

1. Understand your objectives

Involve all the key stakeholders within your organisation to get a very clear idea of what you want to achieve and get buy-in from everybody upfront.

2. Plan, plan, plan

Don’t rush the process of implementing a market research project. It takes time. Before you get to the stage of appointing an agency, you need to be 100% sure of what you want.

3. Get the brief right

This should be well thought out and well written with very clear statements of the objectives, the audience and other important details specific to your project. Make sure that when you are requesting proposals that the project scope is very well defined. If you are doing research interviews, be sure you have your questions in order.

4. Take a step back

Consider your brief and question how you will best achieve your goals. Do you require custom market research? Does the information already exist?

5. Existing research

You might have loads of existing research that doesn’t answer the specific brief for a project, however, it can add valuable insight into driving forward your current research project.

6. Choose the right research agency

If you need to get professional help, look at your goals and your industry and that should start to lead you on the path to choosing the right agency. Look for track records and testimonials in the type of research as well as the industry. Also strongly consider the relationship that you want with an agency and that the research company fits with your organisational structure.

7. Consider your budget in relation to the project

If your objectives are very clear and don’t change throughout the project, this shouldn’t be a problem. Stay focused to ensure that you stick to your budgets.

8. Define roles and responsibilities

Dependant on the size of the project, clearly define who will be doing what.

9. Questionnaires

This is critical to whether a project will thrive or dive. The questions need to be very aligned with your goals. Within your organisation you might need to be tough – don’t just add questions as someone has decided that they can quickly test another hypothesis. Stay focused.

10. Process your data with care

There is nothing like data overload, missed information or inaccuracy! Be very careful after all the hard work to make sure your data is correctly and accurately portrayed. If you have audio or video recordings and you want to outsource them take care that the transcription service you choose offers the highest possible accuracy guarantee. Here is a neat YouTube guide on how to choose a transcription service. Alternatively, you can read another article of ours – 8 Steps To Choose a Transcription Service

12. Delivering the results

Make sure your presentation on results is engaging and clear. Don’t waffle, just get to the point and perhaps add video to liven up the presentation. Always try and have text files of the audio and video for easy reference.

Follow these tips and ensure your research is spot on!

7 thoughts on “TOP TIPS: For Effective Market Research”

  1. Anything more about marketing? I came to this site because this article appeared on another link and enjoyed its simple suggestions – unlike so many other sites that push marketing products or themselves! More to come?

  2. Hi Louise,
    Thanks so much for your comments and glad you liked the article. Transcribing can really help marketers to generate more content for use in all media, so there will be lots of hints and tips on using the service to stay ahead of the pack! There will be plenty more to come…watch this space. We are creating exciting things.

  3. I absolutely love your blog and find the

    majority of your post’s to be exactly what I’m

    looking for. can you offer guest writers to write content
    for you? I wouldn’t mind creating

    a post or elaborating on some of the subjects you write

    related to here. Again, awesome


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.