Best Market Research Experts

What a good market research package includes

Market research gigs range from quick competitor overviews to full studies. Check that the package states:

• Research question and scope.
• Methods: desk research, surveys, interviews.
• Sources, cited with dates.
• Respondents: who, how many, how recruited.
• Deliverables: report, slides, raw data.
• Recommendations tied to your question.
• Timeline.

Ask for a short plan before research begins: the questions, methods and sources. It confirms the expert understood what you need and prevents a report that is interesting but does not answer your question.

Define what you will do with each possible answer before the research starts. If the research shows strong demand, what will you do? If it shows weak demand, what then? Thinking this through keeps the research focused on decisions, not just interesting facts, and helps the expert choose the right methods.

How to brief a market researcher

1. The decision the research will support.
2. Your product or idea.
3. Target customers and markets.
4. Known competitors.
5. What you already know, including your own data.
6. Budget and deadline.

Separate facts from opinions in the report. Market sizes, prices and trends should be sourced; recommendations and interpretations should be clearly labeled as such.

Talk to a few customers yourself as well. Even a handful of conversations adds depth to any report and helps you judge whether the findings ring true.

Keep survey questions neutral. Leading questions produce the answers you hoped for, not the truth, and can lead to costly decisions.

What drives the price

• scope and number of markets
• surveys and respondent recruitment
• interviews
• depth of competitor analysis
• data analysis and presentation
• the researcher's industry experience

Surveys with specific or hard-to-reach respondents cost more. Consider whether a smaller, well-targeted group is enough for your decision.

Red flags

• Reports without sources.
• Copied content from existing reports.
• Survey respondents who do not match your customers.
• Market size figures with no method explained.
• Guaranteed conclusions before research starts.

Check a few key figures yourself by following the cited sources. If the numbers do not match, ask before relying on the report.

For planning after research, see our business plan guide and marketing strategy guide. For analyzing your own data, read our data analytics guide.

Plan to repeat key research over time. Markets, competitors and customer needs change. A short update every year, using the same questions and sources, shows trends that a single report cannot, and it is usually much cheaper than starting from scratch each time.

Quick pre-order checklist

• I know the decision the research supports.
• Methods, sources and respondents are agreed.
• Every figure will be sourced.
• I will get raw data as well as a report.
• I will check key figures myself.