The Market Research Society (MRS) has launched a new website for small and medium sized enterprises (SMEs), aiming to show them the value of market research for smaller companies and provide them with support and expert advice when getting started.
Research for Small Business
The site, Research for Small Business, wants to prove that market research is not just for big businesses and doesn’t need to be expensive.
In fact, the MRS argues that with their smaller budgets and restricted resources, smaller businesses have even more to gain from market research than larger firms.
“Research can identify demand for your goods or service before it launches, it can help you understand your customer – what motivates them and engenders their loyalty – and it could save you money in the long run,” the society claims on the news site.
Sponsored by Whycatcher and Zappistore, it offers advice on how to choose the right agency, provides tips for SMEs carrying out their own research and a ‘Research terms demystified’ page to explain market research jargon to beginners.
Jane Frost CBE, chief executive officer of Market Research Society (MRS), said the site will “provide SMEs with a trusted source of good practice, tips and accredited research suppliers.”
There are also video case studies with SMEs from a broad range of sectors, sharing their experiences of research and highlighting the need for market research beyond the beginning of a venture.
“SMEs account for 99.9 per cent of UK businesses – but many think market research is only for big business and big budgets,” explained Jane Frost.
“It’s in their interests and ours to demonstrate the value of research and how, done well, it can deliver customers and growth to the bottom line.”
All companies and case studies featured on the SME website can also be found in MRS’ Research Buyers Guide, which allows companies to search by location, size and specialist expertise to find the right market research agency for them.
Not convinced your small business needs to do market research? Take a look at the MRS’s video on the site, An introduction to market research, which explain the key benefits of market research for SMEs.