Summary

Selling market research services to top brands requires a combination of professional software, quality content, demonstrated expertise, understanding of business challenges, and legal preparedness.

Abstract

Top brands are attractive clients for market research services due to their potential for high revenue and the opportunity to implement innovative research ideas. However, securing these contracts involves navigating high industry competition and stringent vendor screening processes. To stand out, market research providers should utilize professional software for efficiency and data security, produce educational content that addresses market trends and business impacts, and present case studies or white papers to showcase their expertise. Demonstrating a deep understanding of the client's industry and business challenges, as well as preparing for rigorous legal and security requirements, are also crucial steps in the sales process. By aligning with these recommendations, market research vendors can position themselves as reliable partners to top brands.

Opinions

Large brands value transparency and efficiency in market research vendors, which can be enhanced by using professional market research software.
Content strategy is vital; producing quality content that educates and challenges common myths can influence the willingness of decision-makers to engage with a market research company.
Proving expertise through innovative approaches, proprietary methodologies, and concise, rationale-backed proposals is highly regarded by corporate research professionals.
Understanding the client's industry and business challenges is essential for demonstrating engagement and consultative capabilities beyond just project execution.
Market research vendors must be prepared for the increased attention to legal matters, including handling non-disclosure agreements and ensuring privacy and security management policies are in place.
Making a favorable impression, even without securing a contract, can be beneficial in the long term for future opportunities with serious brands.

How to Sell Market Research Services to Top Brands

What makes high-priced marketing agencies different?

Let’s face it. Selling your market research services to a large brand abounds with benefits: high revenues, a large budget to accommodate your innovative research ideas, a client’s name you can show off, and more.

Top brands need market research and continuously invest in gaining customer insights to implement worthwhile changes like Starbucks, McDonald’s, and Lego did. Still, selling market research to top brands is not an easy task. A great research budget comes with high industry competition and scrupulous screening of market research vendors.

Thus, whether you are a marketing research startup or a mature brand willing to work on challenging research projects, there are some critical recommendations to consider.

Use Professional Market Research Software

Large companies expect market research vendors to be transparent and efficient. Since these factors largely depend on the use of professional market research software, acquiring one is definitely a must.

First, market research software is associated with the optimization of operational costs. Second, enterprise software for market research helps to manage data security and validity, which is an important consideration point for top brands seeking market research services.

What is more, your market research platform can support clients’ branded dashboard with automatic reporting and data visualization. Such control over the project workflow and its results will definitely be a plus for market research buyers.

Produce Quality Content

In interviews with Steve Henke, two corporate research and insight professionals from top brands shared their views on the moves that matter in their choice of market research vendors for their companies. Both agreed that the content that the company produces has a great impact on their openness to sales pitches from the company.

In particular, decision-makers are willing to work with companies that:

Educate them on market research trends and new research methodologies.
Challenge common myths.
Demonstrate the impact of market research on business outcomes.

Thus, there is a good reason to work on the content strategy for your market research company.

Photo by Christina @ wocintechchat.com on Unsplash

Present Your Expertise

Large brands are ready to agree to a larger investment if you are able to prove your expertise, suggest an innovative approach or proprietary methodology, and explain the rationale of your proposal.

Case studies and white papers are a good way to demonstrate your expertise in the initial stages of lead engagement. Further, the actual proposal you send will tell much to the experienced corporate research and insight professional. For Richard Tanner, the perfect proposal has a concise three-page form and describes:

Insights that will help the company make informed decisions on their top business questions.
The research project design (methodology) and the rationale behind it.
Budget and deadline details.

Writing a great proposal should be a priority for any market research vendor willing to work with serious brands: even if you do not cope to secure the contract this time, making a favorable impression might pay off later.

Demonstrate Engagement and Understanding of the Business Challenge

Another aspect corporate research professionals seek among the competing vendors is the understanding of their industry and business challenges. Thus, be sure to dive deeper into trends and challenges of the clients’ industry before any outreach or one-on-one contact.

Here are the tips that will help you tap into the expectations of market research buyers :

Think about all the examples you can cite from your own experience of dealing with the clients’ industry or business challenge.
Share thought-provoking information and awareness of diverse business cases.
Ask questions — your curiosity and wish to look into the business will be a positive message to decision-makers.
Demonstrate that you can effectively consult the client regarding the market research needs, not just execute a project.

Get Ready for the Increased Attention to Legal Matter

Strangely enough, some market research vendors willing to work with top brands do not realize the level of rigidity and stringent management of legal and security matter attached to it. Just see this indignation with a marketing research vendor a Comcast employee shared.

If you resolve to take the challenge and support large brands in their market research efforts, know that you might be required to make written requests for information, sign non-disclosure agreements, demonstrate your privacy and security management policies, and conclude well-thought services contracts.

Concluding Ideas

As you may have spotted, selling to market research buyers goes beyond the value proposition. You need to make sure a brand perceives you as a reliable partner with a relevant background and genuine interest in their business.

Sharing professional insights, using the latest market research technology and taking care of compliance issues will definitely make you stand out among the competitors.