Commission Market Research: A Guide for Business Leaders

Learn how to commission market research effectively to drive strategic decisions and improve customer insights. This guide highlights essential factors for selecting the right research partner.

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Published On

7 Nov,2024

Introduction

If there’s one thing I’ve learned from my years in the market research field, it’s that the decision to commission market research isn’t a small one. Finding the right research partner is about much more than hiring a service – it’s about finding a team that can genuinely help shape your business’s future. When you commission market research, you’re not just looking for data; you’re looking for insights that drive strategy, reveal opportunities, and keep your business in touch with what customers truly want.

I put together this guide to share some key things I’ve found over the years that make the difference between a great market research partner and one that’s just “good enough.” Whether you’re looking to dive into new markets, better understand your customer base, or develop a more strategic approach, here’s what you should look for.

a guide to commissioning market research

Why Commission Market Research in the First Place?

Commissioning market research gives you a foundation for confident, informed decisions. Research-backed insights help us understand our customers’ needs, their perceptions, and how we can better serve them. According to industry studies, companies that commission market research consistently make better decisions, leading to revenue growth and improved customer loyalty.

At Robust Insight, I’ve seen clients transform their strategies simply by understanding their customers on a deeper level. If you’re considering whether or not to commission market research, ask yourself: How would it feel to make decisions with the confidence that comes from having solid, actionable data? That’s the real value of investing in research.

1. Commission a Firm That Understands Your Strategic Goals

When you commission market research, one of the first things to consider is how well the firm understands your broader business goals. Research shouldn’t just sit in a silo; it should directly support your strategic objectives.

For example, if you’re aiming to break into a new market, the firm should be able to support this with insights into customer preferences, competitive analysis, and local trends. If your goal is to improve brand perception, the research should focus on understanding customer sentiment and brand positioning. Research from Salesforce shows that 72% of customers expect companies to understand their needs and expectations, which highlights the importance of consumer insights.

Key Tip: Look for Industry Experience When You Commission Research

One of my top recommendations is to find a firm with experience in your industry. Check whether they’ve published case studies, whitepapers, or research that resonates with the kind of challenges you’re facing. At Robust Insight, we often share our work on industry trends, which not only keeps us sharp but also gives clients confidence in our understanding of their sector.

Pro Tip: When you’re in discussions with potential firms, ask if they’ve tackled challenges similar to yours. Their answers can reveal a lot about whether they’ll be able to hit the ground running with your project.

reviewing market research strategy

2. Demand Rigorous and Innovative Methodologies

When you commission market research, methodological rigor is crucial. After all, reliable data is the backbone of any good insight. I’ve found that combining traditional research methods with innovative approaches is often the best way to get data you can trust. According to GreenBook’s GRIT Report, nearly 50% of companies are now adopting AI and machine learning in their market research processes to improve accuracy and depth of insights.

Look for a firm that’s not only well-versed in classic methods like surveys and focus groups but also skilled with newer techniques, such as predictive analytics, sentiment analysis, or even neuro-marketing. These methods can reveal underlying customer motivations and help you see trends before they’re fully visible. Click here to learn more about our Methodologies.

Key Tip: Commission Research with Advanced Analytical Capabilities

The research industry is constantly evolving, and a forward-thinking partner should be adopting the latest tools and techniques. At Robust Insight, for instance, we use AI-driven text analysis to dive deep into open-ended survey responses. It’s one thing to code comments, but it’s another to extract meaning and identify emerging themes. This kind of innovation gives our clients a real edge.

Pro Tip: Ask your prospective research firm about any innovative techniques they’re excited about or if they’re leveraging new tools. Their answer will reveal a lot about their commitment to staying ahead of industry trends.

3. Ensure Clear and Strategic Communication from Your Research Partner

Let’s be honest – data can be complicated. A great research partner is one who knows how to simplify it. When you commission market research, you’ll want a team that can break down complex findings and connect the dots for you, your stakeholders, and even your customers.

Good communication isn’t just about sending regular updates; it’s about how well they interpret the data and translate it into actionable insights. If the data only makes sense to researchers, then it’s falling short. The insights need to be relevant and easy to understand at every level of your organisation.

Key Tip: Evaluate Communication Skills Before You Commission Research

One of the best ways to evaluate this is during the proposal process. Are they explaining their methodologies clearly? Are they sharing insights in a way that’s meaningful for your specific goals? At Robust Insight, we make sure our proposals are straightforward and transparent, and that’s something every research firm should aim for.

Pro Tip: During your discussions, ask for examples of how they presented findings to a past client. Their approach to communicating insights will make all the difference when it’s time to share results with your leadership team.

focus group to discuss priority areas

4. Look for Flexibility and Scalability in Market Research Services

In my experience, business needs are rarely static. That’s why flexibility is critical when you commission market research. You want a firm that can adjust to your changing requirements, whether that means expanding a project to cover new markets or shifting focus based on evolving business priorities.

The ability to scale research is especially valuable if your company has big growth ambitions. Ask the firm how they’ve scaled projects for other clients. Can they handle complex, multinational studies? Can they adjust sample sizes to match your changing needs?

Key Tip: Look for Evidence of Scaled Projects

Ask prospective firms to share examples of how they scaled projects in response to client needs. Their answers will give you insight into their project management capabilities and flexibility.

Pro Tip: Look for firms that have experience with both small and large-scale projects. This versatility can be a major asset as your business evolves.

5. Value ROI Over Cost in Market Research Partnerships

Of course, budget is a consideration, but when you commission market research, remember that the insights you gain can deliver a significant return on investment. A good research firm may come with a higher upfront cost, but the quality of their insights can lead to better decision-making and long-term gains. According to a study by the B2B International, companies that invest in high-quality market research see an average return on investment of 223%. This demonstrates the financial impact and value of commissioning strategic research.

At Robust Insight, we always aim to offer value beyond just delivering data. We provide insights that lead to actionable strategies, which often justifies the investment for our clients.

Key Tip: Look for a Proven Track Record of ROI

When choosing a firm, ask about their impact on past clients. Do they have testimonials or case studies that show how their insights drove real business outcomes? This can be a great way to understand their long-term value.

Pro Tip: During discussions, ask for specific examples of business challenges they’ve helped solve. It’ll give you a better picture of how they measure success and their impact on clients’ bottom lines.

plan to commission market research

6. Check Their Track Record and Client References

Finally, don’t overlook the importance of a proven track record. When you commission market research, it’s essential to choose a partner who’s delivered for clients in similar industries or of similar sizes. Speaking with past clients can offer reassurance that the firm can deliver what they promise. Find out more about our Case Studies here.

Key Tip: Request References and Specific Examples

Don’t just ask for generic references. Instead, request to speak with clients who had similar challenges to yours. Ask about how the firm adapted to changes, overcame challenges, and delivered results.

Pro Tip: During reference checks, ask for examples of any unexpected issues and how the firm handled them. A reliable research partner will have experience navigating complex projects and problem-solving on the fly.

Conclusion: The Value of Commissioning Market Research

Choosing to commission market research is a strategic move that can empower your organisation with insights that lead to growth and better decision-making. By focusing on these critical factors – strategic alignment, methodological rigor, communication skills, flexibility, value, and a proven track record – you’ll be well-equipped to choose a research partner who will support your business goals.

Ready to Commission Market Research?

If you’re ready to commission market research that goes beyond just numbers, Robust Insight is here to help. We specialise in delivering actionable insights that empower you to make informed, strategic decisions. Let’s connect to discuss how our team can be the right partner for your business.

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