Excerpts from the book of the same title. This presentation shares several recommendations about how to hire and manage market research agencies. For more recommendations, please purchase the book on Amazon.
Transcript of "How To Hire & Manage Market Research Agencies"
How to Hire & Manage Market Research Agencies<br />Overview & Excerpts from the book<br />Kathryn Korostoff<br />
About Research Rockstar<br />Research Rockstar delivers on-demand training and tips to busy professionals seeking Market Research excellence. Our clients are the actual users and buyers of market research services—people who need to find, buy and manage market research resources. In some cases, this is a full-time researcher. In others, a person who is doing or using research as part of another job.<br />Our Mission<br />To be the leading supplier of practical, online market research training and tools for real-world market research users and buyers:<br />Based in experience—not theory<br /> In uniquely concise, modular packages<br /> Available as needed (online or in-person)<br /> Without the bias of trying to also sell market research services<br />Want more information on market research best practices?<br />Get frequent tips by following the author’s Twitter feed at: Twitter.com/ResearchRocks<br />or subscribe to the free newsletter at: ResearchRockstar.com<br />How to Hire & Manage Market Research Agencies<br />Kathryn Korostoff<br />2<br />
How Is This Book Useful?<br />This book is for people who are actual buyers and users of custom Market Research; those who hire and manage Market Research agencies and are seeking to optimize the process, minimize the risk, and improve the action ability of end results.<br />If you are in any of the following situations, this book will be a great resource: <br /> You have never done custom Market Research before, and you’ve been tasked with hiring and managing a research agency for the first time.<br /> You have previously hired Market Research agencies and been dissatisfied with the results.<br /> You have managed one or two projects with Market Research agency partners, but the results were not embraced by your internal clients/stakeholders. <br />3<br />How to Hire & Manage Market Research Agencies<br />Kathryn Korostoff<br />
What Will I Learn <br />From This Book?<br /><ul><li>Setting Appropriate Goals
Implementing Successful Strategies</li></ul>Click here to learn more about this book<br />4<br />How to Hire & Manage Market Research Agencies<br />Kathryn Korostoff<br />
Chapter 1: Setting Appropriate Goals<br />Chapter 1 provides guidance on how to set market research project goals, and includes many sample objectives, such as:<br /> How can we improve sales of a product that hasn’t met expectations?<br /> How can we improve our penetration within a specific customer group?<br /> Why have we experienced a sharp increase in customer defections?<br />Chapter 2: Defining Your Project’s Scope<br />Chapter 2 discusses, in detail, common project types, including:<br /> Product concept testing<br /> Market segmentation<br /> Message testing<br /> Customer loyalty/customer satisfaction <br /> Win-loss research<br /> Brand awareness tracking<br /> Needs discovery<br />5<br />How to Hire & Manage Market Research Agencies<br />Kathryn Korostoff<br />
Chapter 3: Considering The Internal Audience<br />A careful assessment of your internal audience’s needs provides critical inputs for designing your market research project and selecting the best agency for your needs.<br />Chapter 4: Leveraging Existing Research<br />Chapter 4 explains why it is always wise to understand what relevant research already exists. The book describes several reasons why, including: “The answers<br />to your current questions might already exist,” “Important contextual data<br />might be available,” and “To identify potential risks.”<br />6<br />How to Hire & Manage Market Research Agencies<br />Kathryn Korostoff<br />
Chapter 5: Planning Your Agency Relationship<br />How to Choose a Relationship Type:<br />Market Research agencies vary greatly in the degree to which they truly act as a consulting agency vs. the degree to which they act as more of an extension of your staff. Which would best meet your needs?<br />A true full-service Market Research consultancy will be the best fit if you are seeking these types of conditions:<br /> You’ll come to it with objectives, and it will design the research project, getting your approval at key milestone points.<br /> It will run the show in terms of the details of how to execute the research. It will recommend exactly what <br /> methodology to employ.<br /> It will report the research results and deliver recommendations based on those results.<br />In this chapter, the author describes different types of market research agencies, and how to choose the best one for your needs.<br />Chapter 6: RFIs & RFPs<br />“If you want your MR project to precisely meet your needs, you will need a precise RFP. The RFP is necessary to document your research needs and expectations. It also gives you an opportunity to ask for free advice.” <br />-Excerpt from Chapter 6: RFIs & RFPs<br />7<br />How to Hire & Manage Market Research Agencies<br />Kathryn Korostoff<br />
Chapter 7: Market Research Agency Selection<br />One example of how you can narrow down the number of agencies under consideration <br />is to create a Weighted Scorecard, which is explained in Chapter 7.<br />Chapter 8: Managing The Agency<br />In Chapter 8, you will learn the defining roles and responsibilities<br />for managing the agency you have selected. You will learn how to <br />define your internal team, by assigning roles such as: Daily Contact,<br />Senior Project Manager, and Content Expert. Want more? Purchase the <br />book here to get full details.<br />8<br />How to Hire & Manage Market Research Agencies<br />Kathryn Korostoff<br />
Chapter 9: Successful Deliverables<br />Market Research projects are judged by their deliverables, whether reports, presentations or alternatives.<br />In Chapter 9, the author provides specific recommendations for successful deliverables. Here is one excerpt:<br />Engaging the Audience:<br />As with any presentation, the last thing you want to do is have someone read the slides out loud. Boring. Instead, use these tips to avoid the standard reading of slides. <br />1. Be sure that there are opportunities for people to participate, especially if the presentation is going to be more than 40 minutes long. No matter how fascinated you think the audience members should be, most people lose interest after 40 minutes. Give them an opportunity to participate by having a Q&A break or actually be involved in interactive exercises. <br />2. Stop and ask for feedback. A good way to keep people alert is to stop from time to time and ask questions. “Is this result surprising to you? How do you think you could use it?” Also, if appropriate, you can ask: “Is this result something we could share with our customers? Might they find it interesting? Is it something we could share with our channel partners? Could it help them understand our market better?”<br />Questions from Chapter 9, that are answered in the book.<br /><ul><li>“Should you send the presentation out ahead of time? Or should thebig reveal be at the presentation?”
“Should you give out hard copies at the presentation?”
“Should questions be saved until the end of the meeting?”</li></ul>9<br />How to Hire & Manage Market Research Agencies<br />Kathryn Korostoff<br />
Testimonials<br />“This book is a "must have" resource for any market research practitioner who manages research projects (large or small). The book's title belies the fact that in addition to guidance about hiring and managing agencies, the book also has some excellent nuggets of insight and facts to consider for any market research project.”<br />K. Clark “InsightsGal”<br />May 27, 2009<br />Portland, ME<br />“This book is an excellent piece of work and a powerful resource - for everyone who is somehow concerned with market researcher - agency or client side. Many well-recommended market research books go into detail describing different types of methodology for gathering and analyzing market research data. Unlike this schoolbook-like kind of market research literature Kathryn Korostoff stresses the most important point of every market research project: how to make the results live in the world of the client's organization.”<br />Christian “@Research2<br />@OlympiaMilano”<br />May 26, 2009<br />Hamburg, Germany<br />Click here to see more book reviews <br />and order your copy today!<br />10<br />Questions or comments? Visit us at ResearchRockstar.com<br />Or by phone: 508-691-6004<br />How to Hire & Manage Market Research Agencies<br />Kathryn Korostoff<br />