The process of conducting market research isn’t always easy, and we know the job of a market researcher certainly isn’t either. There are many common challenges that market researchers face during the data gathering process. We understand these challenges, and that is why our goal at MarketResearch.com is to form relationships with our clients to help make your job a little easier. There is comfort and empowerment in knowing you’re not alone. Others face the same struggles you face on a daily basis.
Here are 5 of the most common struggles we see market researchers come across during their work:
1. Not Having Enough Knowledge
Normally, large market research projects get assigned when an organization recognizes a new problem or opportunity that they want to take on. Gathering new information through market research allows leaders to make knowledgeable business decisions. A challenge that arises in this situation is not having the adequate knowledge required to make a confident decision or accomplish other tasks.
Not only during the decision making process, but even early on in the research process, failing to gather enough information can create a ripple effect throughout the entire process. If a researcher lacks enough information during the early stages, future steps in primary research, such as focus groups, questionnaires, and observation, can all be skewed.
Having a relationship with a research partner, such as MarketResarch.com’s research specialists, can help ensure that you will get ample information up front. These specialists can also assist in helping you find additional information along the way.
2. Cannot Find the Right Information
Not being able to find the right information needed can lead to many different issues. If there are no secondary sources that can be used, most researchers move on to conducting primary research which can be more time consuming and expensive. Researchers can go around this issue by being fully aware of the different secondary sources that are available. Market research solutions, such as full reports, MarketResearch.com’s Knowledge Centers, or Profound, are just three ways that researchers can quickly gather the right information in a timely and cost-effective manner.
3. Can’t See the Whole Package Before Purchase
A challenge that many market researcher’s face when using syndicated market research reports is that, most of the time, there is an inability to see the entire content until it’s purchased, which means that you might buy a research report that does not have the exact information to suit your business needs. An easy way to combat this problem is by utilizing specialists that can help with particular reports. MarketResearch.com has a team of highly qualified research specialists that can access reports to determine whether the information you need is included, and if it isn’t, they can find the report that will best help you and your research needs.
4. Need Research Fast
When acting quickly to solve business problems, sometimes there is not enough time to read through entire reports or to sift through the information that is in front of you. In order to get your answers quickly, it is helpful to have a good market research team that can break resources down and find the right data that is beneficial to your project. Having the right tools and right team to help can make or break a research project – especially when there is a time crunch. Utilizing different market research solutions when you need information quickly can decrease the chance of not getting the information you need on time.
5. Need 100% Accuracy
Going hand-in-hand with the idea of not having the right information is not having accurate information. It is important that researchers are able to find information that is both up-to-date and true. When starting a new market research project, using the internet is a good way to get ideas of where to start, but researchers need to recognize that not all information is from a reliable source. When purchasing research reports, it is important that they are current, and that the publisher is producing quality reports. Basing business decisions off inaccurate information can lead to damaging results.
No matter what the market research may be, there are challenges that every researcher will face. Being able to use resources to work around these issues is what will result in a successful research project with information that can benefit your organization.
To learn how our Profound solution can help you overcome some of these challenges, sign up for a free trial, or download our free white paper on How to Succeed Using Market Research.
Thanks for reading,
Caitlin Stewart
Marketing Associate
MarketResearch.com
