3 Fundamental Rules of a Good Market Research Report
For a researcher, taking into account the views of the client is of paramount importance. On any accounts, this entails understanding the needs of the client. This is because a good market research report not only showcases the results but also does it in such a manner so as to make the reader of the report understand it easily.
The purpose of drafting each market research report is to make the client fully understand the points you are making so as to make them realize the importance of the same in the client’s business.
1. Proper submission and clear interpretation
When submitting a market research report, it is very essential for the researcher to not only submit the findings in a proper manner but to also ensure that the client is able to decipher and interpret the findings easily. Reports that have no meaning do not hold the interest of the clients. Why does a client attach so much importance to results? What is the reason behind customers reacting in a particular way? And finally how are the findings of the results important to the business?
A good researcher should always aim for prototypes in the data. Identification of prototypes in the data enables to assess the number of respondents to whom it might be relevant. Whether it covers the majority of respondents or only half or just a few can be understood easily? If the number of respondents holding the same view is higher, then the suggestions if any, based on the findings holds greater relevance than the reports of just a few.
2. Relevant and concise content
A market researcher should always strive to provide a report that is not only relevant but even concise. The reporter should also ensure that the data is visually appealing while presenting the same. The data before presenting should be filtered and made relevant to the primary objective of the research. The primary reason for the conduct of the research, the underlying problem of the business along with the findings and solutions of the market research undertaken needs to clearly defined in the report.
Once having filtered the data, the market research team needs to be cautious enough to provide evidence supporting the findings. This can be done by the inclusion of quotes made by consumers to add weight age and clear interpretation of the report.
Caution should be excised in adding only the needed information without including unwanted ones as this might lead to the respondent getting overwhelmed and thus losing focus from the crucial findings.
For reports that are more quantitative in nature, the inclusion of statistical records helps in authenticating the results that are being presented thus providing a clear vision and indication to the clients in understanding the response of the participants.
Lastly, the findings of the results along with the outcome matter the most to the client. The findings of the report suggesting in what way it is going to be beneficial for the business and how a business can put it to use is very crucial for a client.
The role of a researcher gets limited to delivering the information and guiding the client to take the appropriate decision. A researcher cannot carry out or instruct the company to opt for a particular decision based on the data.
Ultimately, it is for the company to decide whether to implement or not implement the decision based on the data that is available. A market research team when drawing a report to conclusion can ponder on the data collected and direct their views and thinking in the context of the organization. This will help in providing suggestions and strategies that are practical and realistic enabling the respondents to reconsider their options from the given findings. This acts as a key aspect of a good market research report.