Market research is the backbone of any sound business plan, whether for start-up or expansion. In turn, market research depends on the quality of information and its sources in order to be of any use. A telemarketing company can be one of your best partners when putting together market research. Take a look at the following tips to integrate telemarketing tools into your market research process.
Clearly define your goals and objectives. Clear goals and objectives are what separate effective market research from pointless data gathering. You need to precisely define what you’re trying to measure or observe, whether it’s a trend, potential demand, competition, etc. You also have to identify who you want to include in your survey, e.g., customers, prospects, other vendors, and so on. Although the power of telemarketing enables you to reach any respondent you want, you should be very specific in your objectives and goals.
Give incentives for participation. Telemarketing belongs to the interruptive category of marketing. Thus, it really pays to offer something to respondents in return for their participation. There is a whole universe of incentive ideas you can use in your market research. However, you should be very careful not to influence your respondents’ judgment with your reward scheme.
Consider all possible sources. There are other sources of information to help you maximize your market research. Telemarketing works best with direct mail survey questionnaires and field research. You should consult other secondary sources of information such as relevant industry publications and reports. These can give you a better and clearer picture of the market you’re studying.
Get as much help as possible. The assistance that marketing consultants and professional researchers provide is highly valuable in any circumstance. If you think your research can greatly benefit from experts’ inputs, then do not hesitate to make this investment. Just make sure to carefully select consultants and to always consider ROI in the process. A good telemarketing company can also give you some consulting or advisory services for your research.