In business, efficient and effective communication is essential to ensuring that all contributors understand what must be done to secure the desired results. And it is even more crucial when some of those contributors are contractors rather than the business’s own employees. In fact, businesses need to exercise even more care and caution when communicating their needs to their contractors, not least because those communications will make up most of what they know about your company. If you want the best results from your market research company in Melbourne, you need to make sure you clearly communicate the following points in order to get the most out of your partnership and your market research efforts.
Background: What does your Melbourne market research company need to know?
First and foremost, you need to make sure that your market research company understands the background of your business. Although this is challenging because no business can be summed up in either a few paragraphs or a few conversations, it has to be carried out because it will provide the context needed to interpret the rest of your briefing in the right manner. The most important points are your reasons for carrying out the research, what you already know without research, and what you need to find out from the research.
Research and Business Objectives
Your research and business objectives tell your market research company exactly what must be done for the research to have been carried out to your satisfaction. Bear in mind that your research objectives and your business objectives should be presented as one because the former should be inextricably tied to the latter. If this is not the case, you may want to reconsider your research objectives.
Market Research Methodology
Research methodology is what your market research company will use to secure its results. Since different research methodologies will produce different results using different resources, it is important to make sure that you choose the right research methodology for your research and business objectives. This is something that you will have to discuss at length with your market research company, particularly because it will have the relevant expertise and experience needed to provide useful counsel on your best course of action going forward. However, it is important to note that no market research company is capable with all research methodologies, meaning that you should have some idea about whether you want qualitative or quantitative data before you choose a market research company to carry out your Melbourne market research.
Your research sample needs to match your target market because the closer the match, the more useful the research will be in supporting your business’s revenue-earning operations. Under ideal circumstances, your research sample should be made up solely of members of your target market while remaining big enough to be truly representative of the statistical population. Be sure to thoroughly explain the makeup of your target market as well as the extent of your penetration into the same, since your target market will serve as a guide for every step of the research process.
Timing and Budget
Finally, you need to make sure to set limits on the resources that can be spent in on market research activities. Carrying out research is counter-productive if it costs so much that it outstrips the benefits from putting the results to use. Likewise, carrying out research will not prove helpful if the results come so late that the window for decision-making has already come and gone.
Of course, your briefing for your chosen market research company in Melbourne is just the beginning of your communication and partnership. You should strive to keep in close contact throughout the research process to ensure you get the absolute best results for your company.