How to compare market research proposals
When selecting a market research campaign or agency, the market research proposal is often them most useful tool at your disposal. This proposal isn’t just information, however, it is also a sales pitch. These are written in an attempt to persuade you into picking their firm or plan for your research. You need to read these proposals carefully and look for certain elements to be sure that you are making the right choice for your organization.
Look beyond price
Just comparing proposals dollar for dollar is very tempting. Everyone likes to look out for their bottom line, but please resist the urge to thumb your way to the back to scope out the fees first. Often the difference in price from two proposals truly does come from a difference in service, the adage that “you get what you pay for” is most likely true in this case.
Read the whole proposal through first. A major difference in price could very well mean that the folks who compiled the proposals worked with very different assumptions about your organization and its needs such as types of necessary data analysis and required deliverables. If there are incorrect assumptions in the proposal, you should request a new, correct proposal.
Check the timeline
When comparing market research proposals, take time to inspect the proposed timelines. If one proposal’s timeline is much shorter or much longer than any of the other proposals, you may want to proceed with caution.
A markedly short timeline is a particular problem, as an unrealistically brief timeline can often cause big problems. Usually this overly aggressive estimate is a sales tactic, and while it is enticing, it is often undeliverable. To check if these promises are really too good to be true, find out about time assumptions for each phase of the project and be sure that they match up with reality.
Know who you will be working with
The market research proposal should come with team biographies, telling you about who would be assigned to your project. Read these bios carefully to see if the people listed will really be the ones on your project. As a sales tactic, some firms will list their senior consultants, managers, and executives in the bio, but they will assign the actual project to someone with much less experience.
As you read the bios, look for certain information. Keep an eye out to see if any of the individuals listed have worked for your competitors or have other conflicts of interest. Look to see if the team members have any relevant past experience. Check to see how long these team members have been engaged with the market research company, as someone new to them may not be as well versed in that firm’s practices.
If you have any concerns about the people you find in the bios, or are curious about their actual level of engagement with your market research project, ask. Often a simple conversation and a bit of editing can help to straighten things out.
Market research proposals are all somewhat similar, but what they contain within can be quite different. When selecting a market research proposal, there are several things to look for, just some of which were mentioned. However, when deciding on a market research firm, remember that if something looks too good to be true, that most likely is the case.
An article is written by Jennie Adams, who likes to make money online, antivirus software, traveling, pc antivirus, and networking.
I'm Louida from Atlanta, Georgia and I'm a mother of two daughters, blogger, and full time working mom at a Business Consulting Firm.
I love helping others learn how to start working from home on the internet free to supplement their current income.
I also blog at Productreviewmom.com
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