How much does it cost to use a Market Research Agency?

Our minimum Market Research project starts from £5000, which will provide approximately 100 telephone interviews and a written report covering Introduction, Background, Research Objectives, Sample, Results – Broken down by question with cross-tabulations, conclusions & recommendations.

Several factors will impact the cost, including how much time on average it takes to identify a qualifying respondent, how many respondents are likely to qualify, and how many required responses.

How can I find the proper market research agency for me?

As a starting point, we would suggest speaking to 2 to 3 Market Research Agencies and consider the following aspects:

  •  How much time did they take to understand the brief?

  • What expertise can they offer?

  • Does their approach make sense to you?

  • How much transparency will they provide?

  • Can they supply you with testimonials or case studies?

  • How long have they been in business?

How will the data sample be selected?

The Market Research Agency will guide you through this process. It is one of the critical elements in ensuring that your research brief addresses your research requirements and will have formed a vital part of the proposal process. They will provide you with options and recommendations based on their expertise. Factors they consider will include the following:

  • The total size of potential subjects.
  • Is there any segmentation required by the sector, geography, respondent type Etc?

The Market Research Agency you have chosen will discuss your options as part of the proposal process.

How long will my market research take?

As minimum research projects usually take up to 8 weeks from briefing to completion and providing a written report. The Market Research Agency will give you an outline of time scales within the Market Research Proposal. The aspects they consider will include the following:

  • Research subject.
  • The number of respondents required.
  • Audience accessibility.
  • How likely the respondents are to participate.
  • Other factors are relevant to the brief.

Having annual tracking on studies can measure the impact of the business decision for ongoing improvements.