How many research supplier partners do you work with each year? Is that Ariba report clear enough for you to even know? What do your researchers think about them? Do they feel they’re getting the best value for their money? More importantly, are they getting high-quality work?
If you don’t have this information to hand, it’s going to be difficult to have a productive yearend top-to-top meeting with your key research supplier without this kind of information. You want to get the most out of your vendors. This means making sure you’re getting the greatest value and that the best talent is being assigned to your client team. What data would you need to go into those conversations confidently?
The first thing you’d need to know is how many projects are being run. From there, you’d need to know the types of projects and how much they cost. Once that’s completed, how was the supplier rated by the lead researcher? This basic information is crucial but is often incredibly cumbersome to collect.
At Market Logic, clients use research automation software to optimize and manage their supplier roster.
Each project conducted in your organization runs through a standard process from initial idea to a briefing to supplier selection to execution and publishing. At each step, important data is collected and made available to you for business reporting. From the research calendar and budget tool, you can answer questions like: “how many segmentations were run in the last two years?”, “how many focus groups are we running as compared to online qualitative?”, or “what suppliers are we commissioning the most each year and how are they rated compared to small research boutiques?”
No fire drill data collection. Information is captured about every study throughout the research process and is accessible with a single click.
Now, you have all the information needed to walk confidently into your year-end meeting with your top research suppliers.