August MarketResearchCareers Newsletter: MR Supplier Survey Summary

This month, we wanted to share some highlights from our recently completed 2010 Market Research Supplier Satisfaction Survey. It reveals the best MR suppliers as scored by their own clients along with many interesting industry trends.

The entire in-depth report is available for purchase for only $399. Log in to buy.

 

We would like to highlight the ability to download, at no fee, the June-July Research Business Report from RFL Communications (see below). The newsletter is full of interesting articles and industry news. Take a look--it's free!

 

And the 2010 Winning MR Suppliers Are ...
Based on the actual customer satisfaction scores in the 2010 Supplier Report Cards, we wish to congratulate the following market research suppliers for their Overall Customer Satisfaction Score and #1 Customer Satisfaction Ranking:

Segment	Market Research Supplier
Full Service Research Provider	Directions Research
Syndicated Research Provider	Gartner
Online Sample Provider	e-Rewards
Online Survey Software Provider	Sawtooth Software

We also wish to extend our congratulations to the suppliers below who achieved #1 rankings based upon specific customer satisfaction metrics.

 

2010 Market Research Budgets
There is no question 2009 was a challenging year for the Market Research Industry. However, as research companies continue to recover from what many "insiders" call one of the worst MR years on recent record, it is invaluable to understand how research organizations are spending their money today.

As revealed below, research organizations "managed down" expenses through the first half of 2010--with only marketing and experiencing relative increases. These actions impacted personnel compensation and the ability to generate revenue for the firm.

 

Employee Job Satisfaction Level
Ever the steady hand, two-thirds of market research professionals remain satisfied with their current job. While many key influencers continue to involve non-monetary factors, compensation, in our opinion, is likely to play a larger role in the coming year.

 

Job Concern and Security
Down significantly from 2009 yet still elevated, nearly one in four (24%) market research professionals are currently concerned about losing their job.

Concerns regarding job security are predominately driven by the ability of a company to win business. Essentially, it is a story of the "Haves" vs. the "Have Nots" as punctuated by the comments from market research professionals below.

"The Haves" "We have plenty of work and are contemplating hiring another person." "Business is good and personally feeling valuable to the organization."

"The Have Nots" "Lost clients or jobs due to client's budget constraints. If they don't come back or can’t be replaced, some jobs will be in jeopardy." "Company has moved from semiannual to quarterly to rolling layoffs."

 

Researching New Media
Nearly half (47%) of all MR professionals have been asked to research social networks in 2010--followed by online consumer behavior. Based upon industry trends, the demand to research new media will likely accelerate.

 

About the Survey
The survey was conducted between July 7 and July 27, 2010 with 565 Market Research Professionals completing an online survey -- producing a completion rate of 78.2% and a data tolerance of +/- 4.1%.

In addition to this year's results, the 2010 Market Research Supplier Satisfaction Survey contains data from last year to help identify marketplace and competitive trends. The report is available for purchase for only $399. Log in to buy.

 

Mike Carroll
800-872-5401
mcarroll@marketresearchcareers.com
www.marketresearchcareers.com