Why Business Owners Should Hire Market Researchers
May 29, 2012 Leave a comment
Last week, I wrote about why business owners don’t hire market researchers for their business. It all comes down to a great line from the movie Jerry McGuire, “Show me the money!” Well, ok it is really “Show me the value!” It just does not seem right to see Cuba Gooding Jr. shouting that.
Now, how do we as market researchers show business owners, particularly smaller business owners, the value of what we do? It comes showing how we can improve their business. Here are some philosophies to provide you a foundation to let business owners know why they should hire you.
- Skill Set: Every profession has a particular skill set. Just as the mechanic knows everything about an engine, we need to know everything about market research in the fields and industries we focus on. Keeping your personal skills up to date and fresh is important in this regard. Then showing how your skills set helps companies in the areas they are needing help. I often get asked what my process is and I tell them that I really don’t have one mainly because each potential client is unique and their needs (and my subsequent proposal) is tailored to their specific issues they want addressed.
- Quality: Everybody wants this in whatever they purchase. It is practically expected in a professional services purchase. However, what I am trying to explain here is the quality of what you can offer in relation to the do-it-yourself market research project. Often times when a business owners does this, they are also doing everything else they do on a daily basis like running the business, paying the bills, hiring new employees. In other words, it is another “To Do” on their list. By showing the quality and focus you can provide to their business, you can show them why it is wise to hire you.
- Big Picture Thinking: About three months ago, I wrote about how market research needs to be used for more than just answering a question, but on determining a company’s strategy. By letting the business owner know that you can help them by determining the focus of their business over the next 12 to 36 months, they are not only more likely to hear what you have to say but also pay you well for this (as long as you tie this back into the skill set and experience you have for that particular job).
- External Consultant: Even when I worked for companies doing research directly for them, I still looked at my position as a consultant. And what do they do, they team up with the business owner and become a trusted confident. But as an “external consultant”, your more likely to deliver the bad news when it is needed without sugar coating it. Telling a business owner not to do something or that their baby is ugly is not easy, but is sometimes expected from outside consultants as most are hired to change or improve something.
By developing your sales and marketing process around these items, you now have a solid foundation of why business should hire market researchers for their business, and specifically you.
What are some of the ways you set yourself apart and get business to hire you?
–J. Nolfo helps companies understand their market and customers though a variety of market research strategies. He has over ten years of experience of market research for strategic planning purposes. He is the Director of Research at Rhino Market Research. He shares his thoughts about market research and business concepts with his blog “Pensare…Understanding Market Research in Business“. If you would like to discuss this blog or how J. can help you understand your market and customer needs, email him at email@example.com.