We got some good attention for our last discussion titled “ Why are SMBs reluctant to approach Marketing Research Companies?” Some of our MR clients added great perspective to this discussion.
This encouraged us to list some insights about how an MR company can reach a small business with a value-added proposition.
According to the report by Facebook 2020, nearly one-third (31 percent) of small businesses in the U.S. are currently not operational. The last two years of uncertainty due to the pandemic is the one to blame. But few could have been saved. Though it is easy said than done, MR can step in here and try to be part of this support initiative:
- Spare some of your resources to focus on the small businesses only. A team of few employees will be sufficient, but they must possess certain attributes to handle the market research needs of the SMBs:
a. The team must be able to identify the viability of the business idea for the client and must put forward an honest opinion on whether the client should pursue the business idea.
b.Small businesses always have limited amounts for investment. The team must compile the business report which shows the further plan of action, at the minimal cost possible.
c. The team presents the small business owner with the feasibility plan, business plan and business coaching; any missing link here may result in losing the client.
2. Provide enough arguments for letting small businesses know why they need an MR partner. Take on social media to get engaged, invite small businesses for basic hours of free business consultation, present real-time scenarios for more relatable conversations.
3. Provide solutions at a reasonable cost. This may not be feasible in the beginning, but the growth of an MR is proportional to the growth of its client. Hence, there will be plenty of opportunities in future to go beyond your profit margins.
We can’t stress more. Prepare a growth plan for each small business, so that when they grow, you grow.
Being a business development outsource company, Research Lead, Inc is undertaking tasks like these and more, and act as a bridge between MR firms and SMBs.
The company is led by an experienced professional, Syed Asif Hussain, who has invested his 30 years of marketing experience in building this company, to provide unmatched vendor-partner experience to the clients in the Market Research domain. We are an alternative option for lead generation; a one-stop business for acquiring and managing the clients for a Market Research company. Having said that, here is how we can offer a 360o business outsourcing to MR companies:
- Opportunity Identification
- Customized Business Development
- Key Account Management
- Demand Generation
- Appointment Setting
- Industry / Company Research
- Lead Generation & Pipeline Tracking
- List Building
- Data Verification
- In-house Data Enhancement
- Tele-verification
- Strategy Consulting
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