Prospect Research

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How to work with a Market Research Agency.

Posted on: 3 October 2017

What to consider when looking at a Market Research Agency?

1. Credibility

A market research call is often the first impression a prospect will get of your company, so it’s important you are confident the company you outsource your market research to will represent you as credible ambassadors on the phone.   Our team are the credible choice for your next market research project because we are all:

2. Confidence

As well as our great people, you can be confident that we have the experience, research methods and technology to enable you to achieve the best results for your market research.  Each of our researchers have an individual development plan, which often include MRS courses, to ensure that they are kept up to date with the most recent best practice from the research world.

3. Care

Prospect Research takes care with our clients, our team and our processes.  By spending that little bit more time, we are able to give the best service to everyone involved in our research projects.

4. Clarity

The success of the market research that we manage is based on clarity, from drawing up a clear strategy, to the communication and reporting that we provide throughout the project.  It is essential that throughout your project, the key objectives for the research are always referred back to, to keep the project on track and focussed.

How does Prospect Research go about Market Research?


Using research to make informed business decisions

At the start of your project, we will ask a lot of questions about what decisions will be made with the support of the outcomes of your research.  Will it inform your marketing strategy?  Your customer care strategy?  Help to develop a course?

This will influence the strategy that we recommend, the research methods and the reporting structure.  The diagram below shows an example of a project for a membership organisation that wants to engage with their member more.  By the time of the report, the research will have focused on the key objectives that the organisation wanted to fulfil, but before then Prospect Research need to ensure that the research strategy, questionnaires and structure of the final report have the capacity to satisfy all of these objectives.

Market Research

Linking market research to your objectives

Before your research project begins, we can work with you to develop a robust set of objectives for your research.  By having this base to work on, we can check the research against these throughout the whole project, to make sure that you are getting just the right feedback that you need.

Market research projects: Step by step

At the start of your project, we will develop a project plan and timeline to ensure that both parties know when certain elements of the research will happen, and when feedback/approval is needed (for example, for you to approve the final questionnaire for interviews).

Making the most of your research agency

We speak to lots of companies that are choosing between managing their research project in-house, or engaging with an outsourced agency.  Whilst it may seem on the outset that in-house is the cheaper option, it’s not always the best.  Here’s why we think this is.

Outsourcing your market research gives you access to:

Market Research Society and quality assurance

Beth Walthew, our Market Research Director, is an Associate Member of the Market Research Society (MRS). Our research team works in accordance with the MRS Code of Conduct.

What is the MRS Code of conduct?

The comprehensive MRS Code of Conduct covers research from the inception to design and from execution to use.  It is relevant for market, social and opinion research. It covers legal requirements and how these apply to research.

MRS members must adhere to the MRS Code of Conduct, Regulations and the associated disciplinary procedures. The Code, drawn up by researchers for researchers, helps to protect providers, buyers and respondents. It safeguards standards, promotes confidence and champions professionalism.

How do we ensure quality?

As well as continuous professional development, our research team’s work is monitored throughout projects.  We record all research calls to internal quality assurance purposes, and a proportion of our interviews are checked by our Account Managers to ensure the interviews are done in a consistent way, and that document responses match interview content.

Posted: 3 October 2017 | Knowledge, knowledge bank


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