Market Research Agencies - Buyers Guide

Market Research Firms Successful Strategies

Market Research Firms' success is defined by the strategies they employ in order to remain in the streamline! While each service provider may boast unique and characteristic methods for executing a fruitful market research, highly effective common basic strategies pave the way for successful information gathering.

Mail surveys:
Mail surveys were the buzz of the fifties when phone interviews were costly and often unattainable. As telephone became a cost competitive tool for Market Research Firms, it pushed mail survey's crown off, yet the crown did not fall with a bang! Mail survey is still a widely used technique that market research firms are happy to employ due to its relatively cheap costs. At the same time, postal deliveries present an opportunity to familiarize prospective clients with the product. Brochures or samples may be attached for increasing awareness! On the downside, the response rate to such surveys range between 5-15%, leaving researchers in the dark about the rest of the target audience's opinions and demands.

Telephone surveys:
Today's telephone interviews are computer assisted, allowing the interviewer to register each answer immediately in the databank. The response rate to this form of market research is significantly higher than in the case of mail surveys. Results are available for immediate analysis, saving time and energy. This method is slightly more expensive the sending postal questionnaires to the target audience, yet higher response rates compensate the researcher.

In-person interviews:
Personal interviews result in the highest completion rate. In addition, the subjects may physically come in contact with the proposed service or product, accompanied by the interviewer's introduction. While this form of research has proved to be highly effective with a 95 percent response rate, Market Research Firms still prefer to opt for the former financially less demanding research methods.

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I immediately got a call from a moving company who was very professional. We've had good communication, the survey was punctual and they returned a quotation the following day as promised. So far, so good!

Kate, Buyer
Adelaide, Australia