Choosing the best marketing research company
Here’s what you need to know when selecting the best marketing research company for your product, services, and marketing insights in financial services research, B2B research, social impact research, and PR and thought leadership studies.
Whether you are new to marketing research or a seasoned research veteran, you want to find a marketing research company that is working hard to know you and provide extra value to help you meet your research objectives. Logica Research partners with you to get to truly know you and your business. We bring research expertise, industry experience, and a dedication to your success to every project.
We recommend finding a marketing research company that has both research expertise and knowledge of your industry and target markets. For example, here at Logica Research, we dig deep into the financial services and fintech industries, social impact initiatives, and B2B research. We even conduct our own research on the money mindset through our own Logica® Future of Money Study. The Logica Research team has decades of experience in financial services marketing research. And, the founder and CEO, Lilah Raynor, started her career on the client side at Charles Schwab before founding Logica Research.
When choosing a market research firm to help you serve your financial customers or B2B financial clients, there are several things to look for. You will want to find a marketing research company with relevant financial industry research experience, relevant study methodology experience, and customization options. A marketing research company with financial services experience has the ability to go beyond the data to help tell the story of your insights. These deep insights allow you to fully engage your stakeholders, develop the strategy, obtain the budget, and implement the plans you need to make your product and service a success. The Logica® team approaches each study as your research partner, to support you and your organization’s success.
You will want a marketing research firm that knows your industry and understands your target market. Make sure the research company has experience conducting research in the B2B space and can speak your customers’ language, has techniques appropriate for B2B respondents, and can interpret results in the B2B business context. Logica Research specializes in B2B marketing research and finding hard-to-reach B2B decision makers to understand your buyer’s journey, inform your B2B marketing communications, and help launch and evolve your B2B brand, products and services.
One good way to find the best respondents is to have a diverse set of sample providers. Here at Logica Research, we partner with large and niche sample providers across the world to have the best consumer and B2B samples for your study. We also continuously audit our sample providers to ensure quality, diversity, and accuracy. Quality respondents mean better insights for you. Make sure you are choosing a research company that has tools and human insights to help you get the research participants you need.
Sample for a B2B study is important and more complicated than one might think. Your chosen market research firm should have experience and a proven track record in recruiting qualified B2B respondents who can give the answers needed to solve your business challenges. Quality of the survey respondents is critical in any research, and this is particularly true for B2B research. Logica Research asks questions to help you define your target market for the research, including role, title, company size, location, industry and more to make sure we are finding the people you need to talk to.
Having inclusive research is critical and relies on having diverse respondents and perspectives. Logica Research is investing time and money into addressing this. We are working with our research partners and with industry organizations to ensure that demographic questions are asked appropriately and that sample design and data interpretation is inclusive and representative—seeking to create and implement industry best practices so that you can have confidence that your branding, marketing, and product development is inclusive.
There are more and more fintech companies every day, meeting different kinds of financial needs from personal finance, to wealth management, to consumer payments, as well as B2B financial tech for banking, financial planning, payments, accounting platforms, and more. You will want a firm that has an exceptional track record of understanding the customer need in your space and providing the insights that will inform brand, product, service and marketing strategy. Logica Research is actively involved in the industry, talking to decision-makers at fintech companies, attending industry events, and conducting the ongoing Logica® Future of Money Study to help inform new products and services in the fintech space.
Discovering competitive brand awareness about your financial brand or fintech company is critical to growing your market share and driving competitive differentiation. You want to look for a marketing research firm that will design a study that meets your needs for brand performance metrics based on where your company is in the market. When looking at client brand health, Logica Research takes a consultative and custom approach, helping you identify the key brand acquisition funnel metrics along with custom brand attributes that you need to track your performance over time and against key competitors.
To launch new products or services, or enhance and update existing ones, financial and fintech brands need to consider how these changes will impact target audiences and address the wants and needs of their customers and prospects. Using market research techniques like concept testing and customer journey mapping, insights can be gathered to make sure products can meet, and exceed, customer demands.
The best marketing is informed by an exceptional understanding of customer attitudes, behaviors, and emotions—where they are today. By using market research approaches like message testing and value proposition research, financial brands can develop the most relevant marketing communications that will drive new and continued business.
One of the best ways to inform product sales and marketing acquisition strategies is with purchase journey research. The research firm will recommend the research technique based on your needs and information gaps. When we design this kind of research at Logica, we may include qualitative and quantitative research components such as in-depth-interviews or online discussion platforms and online surveys with trade-off exercises. Depending on whether you need to understand the purchase triggers and pain points at the top of the acquisition funnel or what will close a sale or get a referral at the bottom of the funnel, in-depth purchase journey research will help get you the answers you need.
Research polls and consumer and B2B opinion research are effective tools to engage with the media and target markets in many verticals including financial services. Opinion research can be used to support PR campaigns and media outreach efforts. By performing the right kind of research to answer the right questions, public relations efforts can be supported with key data and insights from opinion research. Logica® has extensive experience and success conducting opinion research that garners media attention.
Part of reaching the right target audiences is demonstrating brand authority in a crowded space, whether it be fintech, financial services or other business areas. Thought leadership research and research-based marketing content are key components of the marketing strategy mix. Market research can uncover the data points needed to support thought leadership and marketing content. Look for a research company that can ask the right questions to get headlines, garner media attention, highlight your leaders, and support your brands. When you need to have the media spotlight put on your research, Logica® has the research approaches to gather the insights that support your content and make it stand out.
Choose a marketing research firm with expertise in your focus area and one that is interested in helping you achieve your impact goals. You will want a research company with a track record of supporting non-profits and an eye on managing expert research within budget limitations. Logica Research has supported many non-profit and social impact organizations to support Logica’s purpose of providing insights to improve people’s financial lives. You can see an example of one of Logica’s non-profit partnerships in our work with Commonwealth.