Shopping for customer research? Make sure you ask these four questions first!

Your customers are at the heart of your business, so how can you be successful if you don't know what's on their minds? Knowing what your customers are really thinking, saying, and feeling about your company, products, and services will help you make better, more informed business decisions.

We've put together four questions you'll want to make sure to ask when you start comparing market research agencies.

1. Does the Vendor Specialize in One Type of Research, or Can They Do Multiple Programs?

There are many different types of customer research, including Win/Loss Analysis, Customer Success and Experience Research, and Churn Analysis. Some firms specialize in only one or two types of research, while others charge a separate fee for each type. This can leave you paying for multiple research programs or locked into a specific type that isn't really the best fit for your needs.

2. How Quickly Can the Vendor Start Delivering Results?

Time is money. When a vendor can start quickly and begin delivering insights sooner, you can make changes to benefit your customers' experience before the study is even complete. Spailey Solutions can begin delivering actionable results in as little as three weeks when provided kickoff information quickly.

3. What Is the Vendor's Participation Rate?

Ask each vendor how many customers or buyers they would be able to connect with for a call if you were given a list of 100. The industry standard for conversion rates hangs around 30%. If you don't have contacts to spare, every prospective participant matters. It doesn't matter how great a research firm may be if you can't get responses from your research subjects.

4. Does the Vendor Rely on Software to Perform Analysis?

Many research vendors automate their services — from initial outreach to final analysis. Key risks to consider include:

• Software is only as good as its programmers — you could miss insights a real human would easily catch.
• Automated outreach risks being screened out as spam; up to 65% of unsolicited emails go ignored.
• Standalone platforms risk low internal adoption due to password fatigue.
• Data locked inside software can make it hard to sever the vendor relationship if needed.

If quality and flexibility matter more than speed, consider hiring a firm with real people with real expertise examining your data.