Most people use search engines every day to find everything from movie times to the latest news on particle physics. Despite this frequent usage, professionals looking for research reports in a database of market research sometimes fall victim to their own in-depth knowledge of their particular field. This can make the discovery process a challenging one. So, here is a quick guide on what to do and what not to do when looking for research in a market research database.

Last week on our blog, we discussed the first 5-out-of-10 common mistakes companies make when establishing their market research strategies. If you missed the first post in this two-part series, check out Market Research Strategies: 10 Common Mistakes, Part 1. This week, we want to share a few more. If you can avoid these flaws in your market research strategies, you will experience a much more successful overall market research experience. Continue reading to find out more on these common mistakes!

Creating strong market research strategies is key for any business. In fact, a large degree of your success hinges on it. Whether you are an established company or an entrepreneur setting out on a new business venture, you must aim to carryout a strategy that has very few flaws. And, while your overall research goals will be unique, a mistake in your research strategy could be equally detrimental. In this two-part blog, we will address some of these common mistakes in order to help you recognize, avoid, and/or correct them.

Time is money. You hear this phrase often, yet many companies still spend countless hours searching for each individual market research report, only to find that they are not specific enough or lack the quality of information needed for their specialized vertical. That's why completing your market research in this manner will quickly evaporate your time and budget. And, if you're spending these valuable resources acquiring individual reports, the research had better answer your questions and address your specific needs, right? Unfortunately, this is not accomplished every time and with every report. So, companies must adopt the most effective and efficient methods for acquiring high-quality, vertical-specific research for the best value.

One market research report can answer thousands of questions from hundreds of companies. Catering to a wide variety of needs can even be viewed as one of their most versatile benefits, at least for the publisher. But, when it comes to obtaining specialized information, syndicated reports may not give you the depth and/or specification you need for a particular project. So, in attempts to avoid spending unnecessary time sifting through reports that are too general, or too broad, you are forced to consider alternative market research options.

Return on investment is a tricky thing to prove sometimes. In marketing, advertising, and market research, ROI can be especially elusive, but we all know it’s there. What if a market research expenditure could not only show positive ROI but actually be a profit center for your business? Crazy, right? Not necessarily.

Imagine if you could acquire a large library of market information for a low fixed price and then “sell” off pieces of it to your clients or constituents over and over. Your library spend just became an information investment, and behold, your research tools just became a profit center. The Knowledge Center platform, which features the content of some of the most trusted names in market research—Packaged Facts, Kalorama Information, Simba Information—offers just such a possibility.

In business, it’s not about today – it’s about tomorrow. That’s because the most lucrative markets of the future aren’t necessarily the same ones that are presently profitable. Market research plays a key role when companies are repositioning for emerging markets.

China is anticipated to boast more than 30 million households in 2020 with a disposable income of $30,000, while Turkey should have more than 11 million households earning more than $30,000 in the next decade. To put the latter statistic into context, Canada currently boasts the same number of households earning at that level. Further market research indicates strong growth in several Central and South American countries, India, and across Africa.

Choosing the best credit card for your needs can be a complicated process. You need to understand potential risks, examine the financial effects, and take into account your life-style. With co-branded credit card schemes expanding, this choice is only going to get harder. Here we outline the top 10 credit card features that are the lifeblood of the market. 

Beyond the themed boards and funny images, Pinterest is becoming a powerful market research tool with capabilities that can provide a great deal of useful intelligence to a market researcher. They say a picture can say 1000 words.  If that's the case, then your customers are telling you their life stories through their pins.

From checking e-mails, to editing a business presentation, technology has changed how we go about our day.  Additionally, technology has changed market research.  Advancements are helping us become more efficient and agile. In terms of market research, technology has carved out new opportunities as well as pitfalls for obtaining useful business intelligence.