GlobalCom is significantly more than just a network of highlight professional PR agencies. It also offers full service market research services with access to a panel of some ten million respondents worldwide. B2B or consumer, our director level team provide consultancy from start to finish, to ensure our quality research services delivers on your objectives.
Consumer market research involves talking to members of the public. Some consumer research uses what is known as a nationally representative sample, which enables you to gather a reliable estimate of the views of an entire country. Alternatively, consumer research selects a sample based on a particular characteristic of interest, such as parents, pet owners or coffee drinkers.
B2B (Business-to-Business) market research uses the same methods and techniques as consumer research, but it samples people because of the job that they do. Because businesses buy differently from consumers, B2B research sometimes involves interviewing people in different positions in the same company, such as the IT Manager, the Finance Manager and the Procurement Manager.
Market research is the process of gathering information about a target market, to inform every stage of business, including:
In other words, everything from gathering the information, to making sense of it and to provide useful, actionable interpretations based on the information in order to achieve a series of goals, can be said to be part of the market research efforts.
In short, everybody who is involved in bringing products or services to market and require an understanding of what may be some of the best approaches to do so. This includes organisations and individuals in the public or third sectors who are seeking to understand their user base or to secure funding for projects.
Market research has traditionally been a function of the marketing department, in partnership with market research consultants or market research agencies, but this is now changing. Forward-thinking companies understand the importance of market research and how the insight gained can benefit the whole organisation. In these companies, research and insight is typically a collaborative cross-functional process, driven from board level, and involving people from across the business.
Market research can also be a valuable tool for PR agencies and brands who would like to take the insight from studies and use it to tell stories that resonate with customers and potential customers. PR specialists can use market research when advising their clients but also as part of their on-going media relations efforts.
Market research is important at every stages of the PR process.
In addition, it can be used to generate a story or fuel a thought leadership campaign. The most engaging and memorable stories include people. Through research you can explore people’s thoughts and opinions, dreams and fears, loves and hates. It can help you better understand market trends and the psychology and sociology of customers. The perfect foundation for a content marketing campaign but also for SEO.
Market research methods fall into two broad categories:
It can often be helpful to conduct both qualitative and quantitative research within one project. For example, you could use focus groups to understand all of the different ways that people can feel about a particular issue, and then conduct a survey to find out how many people fall into each category.
It’s also helpful to understand the distinction between primary and secondary research. Primary research (also known as field research) involves collecting data from research participants and analysing it to understand the results. Secondary research (also known as desk research) involves searching for published research or data that has already been collected by a third party, and conducting a review.
Primary research can be more expensive to conduct, but has the advantage of being current, and also being designed to ask the exact research questions you want to find out. By contrast, secondary research can be cheaper, but you are reliant on the right data and information being available.
A market research strategy is the approach that you take to using market research support your business goals. It will detail the type of information you need to achieve those goals, and the methods to use to obtain that information, over a defined period of time. The market research strategy will be used as a framework to guide all of your market research projects.
“Strategy is by far the best approach to drive results and build a brand’s image, yet many organisations are still focusing on PR tactics and short-term goals. We want to change that.”
Ralf Hartmann, GlobalCom PR Network (Munich)
More than just a network of public relations agencies, GlobalCom is a well-established organisation with strong leadership and sound managerial infrastructure that can expertly perform market research for global brands.
Why should we work with GlobalCom?
We add value at all steps of the research process from designing the research to get the most out of it, writing the questionnaires, managing the fieldwork to ensure it is conducted on time and to budget and then conducting insightful analysis from the results. All research is conducted to ESOMAR and MRS standards.
What is the difference between market research and marketing research?
Market research is focused on the target market, whereas marketing research is broader, and looks at all aspects of the marketing process. Having said that, the terms are often used interchangeably, both employ the same methods, and many market research agencies undertake both market and marketing research.
How important is market research for new business ideas?
Market research is essential. Innovators are often very close to the ideas that they are developing and an objective view that is rooted in reality is invaluable for helping to prioritise and invest in only the most attractive and viable ideas.
What sort of actions will market research help me to take?
Market research gives you the evidence you need to support decision making at all levels of your business. Whether you need to prioritise the best new product concepts, understand what keeps your target market up at night, or just get a steer on the sort of language your customers use around a particular topic, market research can deliver.
How long till we receive actionable results from the research?
This will depend on your requirements, however today’s online methodologies enable us to be agile and turn around projects more swiftly than ever before.
Do small businesses really need market research?
All businesses will benefit from getting an objective view of what customers and prospects really want. Online research is affordable for all businesses and the results can be used for content marketing efforts, digital PR and SEO campaigns.
What are some of the common challenges of conducting market research?
Some of the key challenges are in defining the audience you need to sample, in asking the right questions, and in interpreting the answers. In all of these cases, working with an expert market research agency or market research consultant will enable you to navigate these challenges.
What are the pitfalls I should watch out for when conducting market research?
There is considerable expertise involved in writing a questionnaire or focus group topic guide that will get the right results, without introducing bias. It takes similar expertise to interpret the raw data that research generates to make it meaningful. Working with a trusted market research agency partner will help you avoid bad design, or misinterpretation of results.
Can I conduct market research myself using one of the free DIY survey platforms?
Of course. If your research needs are quite straightforward and simple, then it is possible to save money by conducting the research yourself. However, working with a market research company can help you avoid the pitfalls and challenges of DIY research, such as writing unbiased questions, or interpreting raw data, and it can be surprisingly affordable.
How is market research pricing determined?
Market research is an investment, but it can be surprisingly affordable. Give us a call and we can discuss options that will meet both your requirements and your budget.
It is important to work with a reputable market research agencies to conduct your research projects. Market research is an investment and it is important that the agency you choose can meet all of your needs. Here are five top tips for choosing the best agency for your project.
We have worked with some of the most important brands in all industries, delivering results that speak for themselves.
GlobalCom PR Network has been working successfully with clients for more than 15 years. Our global PR network comprises some 80 agencies oferring a range of services, from B2B market research, to customer insights, PR surveys and analyst relations.
Use the adjacent form to get in touch with us about your organisation’s research needs and we will get back to you in no time.
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