Having written extensively about nine criteria for selecting and evaluating quantitative market research companies, I find that in the world of Web 2.0 and in the minds of some, market research 2.0, an additional criterion is required.
Quite simply, does your potential market research supplier understand what market you are working to quantify and do they propose a methodology that effectively represents that market?
In developing the nine criteria, I assumed that any legitimate market research firm would meet this criterion. So why bother to explore it?
Because of this: even a quick pass through the plethora of firms sprouting up to present themselves as market researchers specializing in online market research and in using social media for quick, cheap and “legitimate” market research suggests that this assumption is just not accurate.
At the risk of preaching to the choir, identification of the appropriate market (or population in market research lingo) from which to sample for a quantitative market research study is the absolute underpinning of legitimate, solid market research. Those who encountered just an introductory college course in statistics know that to translate market research results into effective and accurate guidance for marketing decisions, the market being assessed must be known and identifiable.
Thus we confront the sticky issue of online surveying. If your business is 100% online, with no other sales channels, online surveying is completely appropriate (given, of course, that you stick to standard market research practices for online surveying).
If your business is a combination of online and offline sales channels, or if you use online solely for promotion, service, or information (not for sales), proceed with online surveying with caution.
Comments welcome.
Dr. Bob
