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How to write an RFP for your next market research project
When organizations use custom market research services for the first-time or only sporadically, a common question is how to structure the RFP. RFPs can be the proverbial double-edged sword. Done well, the market research RFP is a valuable tool for both the client and their prospective market research partners. Done poorly, it becomes a barrier to effective discussion, and can result in proposals that meet the RFP specs but don’t actually solve the business need.
Read MoreInsights for the Next Recession
Over the past six-months economist have increasingly sounded the alarm about the recession just around the corner. Does market research have a role in helping companies prepare for this possibility? We think the answer is: Yes.
Read MoreIsurus article featured in Quirk’s Marketing Research Review
The February 2019 issue, focused on B2B market research topics, includes our article “Overcoming Inertia: How to understand sporadic customer journeys in low involvement B2B categories” .
Read MoreAre the response rates to your B2B customer surveys dropping?
If the response rates to your B2B customer surveys have dropped the past couple of years you aren’t alone. The trend spans verticals, product types, decision makers and end-users. Multiple factors contribute to the decline in responses: Spam filters have gotten stricter; DIY survey tools and the near ubiquitous NPS programs overload customers with surveys; and, poorly designed surveys create a poor experience for customers. So what can you do?
Read MoreB2B Customers Are Not Logos
People don’t want to be a number. B2B customers don’t want to be a logo. An increasing number of companies refer to existing and potential customers as logos, e.g. Our goal is to add 20 more logos this year. It’s gone so far that a search on LinkedIn will produce individuals with titles like VP of New Logo Acquisition. We think referring to customers this way is a mistake. Beyond being jargon, it sends the wrong message to employees. Customers and prospects are better terms. A customer is a person or organization your company has a relationship with. A logo is a stamp.
Read MoreAre Rising NPS Scores a Red Flag?
Reports that track NPS scores across a range of sectors—recently reported that NPS scores in the enterprise software sector have increased across the board – most vendors have seen an uptick in their scores. While good news, it raises some questions about the accuracy of NPS scores.
Read MoreUse Research to Add Foxes to Your Hedgehogs
A year of political polling, talking heads and pundits have given a bad name to forecasting and forecasters – especially the segment known as hedgehogs. But for all their flaws hedgehogs can guide their organizations as well, perhaps better, than their counterparts – the foxes. In truth, successful organizations have a mix of both. The research and literature of the science and art of forecasting divides the world into hedgehogs and foxes. The labels and definitions come from an essay by philosopher Isaiah Berlin.
Read MoreDesign Thinking in Research
Although it’s been around for decades, Design Thinking is enjoying a burst of heightened awareness as recent articles and books advocate the approach for everything from reaching corporate objectives, to developing advertising and value propositions, to achieving your personal New Year’s resolutions. As a research firm we applaud this reawakening of the value of design thinking – its principles have always been a central part of thoughtful primary research designs.
Read MoreBetter Forecasting with Historical Data and Judgment
A recent article on forecasting presents historical data and judgment as an either-or choice. We disagree. In our view, the art of forecasting requires both and the understanding of how much weight to place on each depending on the circumstances.
Read MoreSpurious Correlations: Shark attacks and sales at all-you-can-eat buffets
Did you know that the Total Revenue Generated by Arcades correlates with the Number of Computer Science Doctorates awarded in the United States? Makes sense, right Hold on before you start using this fact to impress people at cocktail parties. It comes from Tyler Virgen’s website Spurious Correlations (which is also available as a book on Amazon). Virgen’s mines data and plays with the X and Y axes to create ridiculous but fun correlations such as the link between margarine consumption and divorce rates in Maine and the link between drownings in pools and movies starring Nicholas Cage.
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