Updated: Aug 25, 2021
“It is not the strongest or the most intelligent who will survive but those who can best manage change.” — Charles Darwin
We're not sure if Darwin did any market research in his spare time. But his words are so important that they are still resonating today, in what is arguably the most innovative era in human history.
As today’s world moves at a fast pace, with new technologies and social media platforms emerging, everything is constantly changing, and agencies like yours need to stay up to date with everything that’s going on. One minute a trend is hot and then it's gone like yesterday's newspaper; the next minute, another trend emerges.
As an agency, you have a lot of different clients and are responsible for ensuring the success of your client's product or service. Nowadays, the market for digital services is saturated. It's getting more challenging to make your agency stand out and get noticed.
We believe market research companies have a role to play in collaborating with agencies to allow them to offer innovative services, support their strategy, and offer them more flexibility. We have gathered below the most essential and useful information about the best way to grow your agency with market research services.
Why do agencies partner with market research firms?
Partnering with a market research firm is like getting an additional objective brain that you can rely on. Although agencies usually conduct market research for business, market research firms often have the latest technology and best-trained personnel for conducting market research.
Agencies can actually save money while having full access to high-quality information, which will become the basis for decision-making of your agency. Having a company on your side that specializes in this area will increase the overall quality of your projects.
How to leverage digital market research for your agency
Here are the advantages of how market research can help your agency flourish.
#1 Lead generation: get new customers
New service for your prospect
Most agencies do not have a well-established procedure for doing market research, yet customers frequently want extra information before making a decision. Market research is a complementary/new product for your agency that will allow you to provide more services and better serve your clients.
Managers are swamped with proposals from different agencies. Instead of competing with other agencies and departments in a saturated market, you could try to attract new clients by offering research services and positioning yourself as a one-stop-shop agency.
Use agency insights to generate more meetings
Reaching out to potential customers can be hard without enough data, and claiming to have the best agency services is not enough anymore.
Using insights is a good way to approach new leads without sounding like you're only after the sale. Providing information that your prospects don't have will not only help you position yourself as an expert, but it will also enable you to provide them with a solution that meets their problem effectively.
With our partner program, agencies benefit from specific insights into brands, industries, countries, and more regularly to reach new companies.
Start generating more leads
We act as your own research team on-demand.
#2 Top-up new services to existing customers
It is well-known that creating a new customer costs more than keeping an old one. Most customers have problems that they are willing to pay for a solution. However, you can't just suggest anything, or you'll look too pushy and potentially annoy your customer.
Research is a great way to identify untapped opportunities and understand what your customer audience really wants. Do not be a prophet of doom for your customer, rely on research to identify the pain points of your customer, and leave the responsibility of designing and delivering a solution to you.
#3 Convert more: Improve your proposal pitch
Clients are busy people who are bombarded with pitches and long-winded emails. For you to grab their attention, make your pitch short, different and striking. Making your proposal stronger is just like making your business better. It's not just different from what your competitors are doing; it's better in meaningful ways.
Your agency is likely competing with other agencies for new business opportunities, and to be different, you can collaborate with a market research agency to get primary information that nobody else has and offer a tailor-made strategy with the findings. As a result, your agency will stand out in the market.
Find out how one of our partner agencies used our insights to strengthen their pitch and win a deal with Netflix:
#4 Become an expert: Third-part perception
Two heads are better than one and creativity is a non-stop activity. The best ideas often arise when you combine information from different sources or when a new person looks at the same data from a different perspective. Without an outside perspective, your company runs the risk of relying too heavily on internal knowledge rather than established trends and techniques.
The expertise of a Market Research agency helps you with the complexities of data collection and analysis. Third-party agencies may appear more objective and credible because they are not involved in the same business. By collaborating with an agency you will show your leads and customers that you know what you're talking about with non-bias statistics on the table.
#5 Increase the performances of your work
Ad prices are rising, and agencies need to keep their game sharp to avoid sunk costs in customer communication.
Market Research allows the agency to make better decisions, and it can help you avoid wasting time and money on unprofitable projects.
#6 Powerful content
Companies may rely on their marketing for lead generation, sometimes leading to dismal results. The more unique your content is, the easier it will be to attract new leads and customers. A powerful lead magnet can be a goldmine for an agency.
Getting your own insights for your company's marketing strategy is a great way to enhance your communication, help you evaluate your work, and attract new clients.
Here are some of the examples of co-branded research we conducted with our partners:
Vietnamese Football Fans: Vietnam in collaboration with WeCreateContent
Fintech & Banking Services: Hong Kong in collaboration with Statrys
Insurance industry: Thailand in collaboration with OneDegree
Those researches have helped them gather insights on the industry they are interested in and create content such as a report they advertise to get more lead from one industry.
Whether you are a small firm or a huge agency, collaborating with a market research firm is extremely beneficial. Using it well becomes additional support for gaining more customers, making more iterations, and opening new opportunities. If you share the same values as we do, check out our agency partner program. Let's grow our business together!