Choosing the right Market Research Reports

The end use of Market Research Reports are to serve as a source of information, that’s authentic, reliable and can be used to support decision making. Companies prefer to use consolidated reports drafted out professional research agencies for the following reasons. 

• To get historical data about markets, competitors and even their own brand to plan future business plans. 
• To understand how buyers react, use or dislike your product 
• To understand how to best resolve a problem, issue or error that hampers their business.
• To understand ways to either build or assess commercial, profit, operational and management goals and objectives.

Markets reports differ based on the type of product being analysed, the way they’re structured and nature of the end user. Then, there are reports designed for services companies or to assess a certain forecast or time period – which one is right for you?

Market Research Company

Selling or designing products:

Research is the only way to know if your product meets the needs of your market. To do this, you need service or product detail reports. Using consumer opinion to drive innovations, product improvements and ultimately enhance sales efforts. It’s important to test out any new product before it hits the market. Research can determine consumer appetite for that product and the competitive advantage that it has in the market.

     
Close up of competition:

Using research, you’ll never underestimate the number of competitors you have. Those full market reports even have data on how well competing brands fared in the past, their current and future activity.

Irrespective of what type of market you’re addressing, you require expertise to get an understanding how you can take your business forward using research.

Global Robo-advisory Market Set For Significant Growth

The wealth management industry is undergoing considerable transformation as traditional methods are getting disrupted thanks to the advent of new technologies. Robo-advisory is one such technological advancement that provide custom, automated and algorithm-based financial advice, without human intervention and in a cost-effective manner. Owing to the rapid adoption of robo advisors worldwide, the global robo-advisory market is witnessing significant upsurge and the trend is set to continue in the foreseeable future. 

Benefits of robo-advisors

The benefits of robo-advisors are trustworthy and affordable financial advisory service for everyone. More and more, individuals are using robo-advisors owing to their convenience, affordability, and transparency. Robo-advisors typically can tell investors –

• How to invest across stocks and bonds, keeping risk tolerance in mind
• How much to deposit each month based on the total amount they want to invest and their goals
• Their total net worth
• How to take advantage of advanced tax strategies

With increased internet penetration across the world and the widespread adoption of digital technologies, customer expectations have evolved in the wealth management industry. For financial institutions to remain relevant, they must embrace the digital advancements and transform the way they operate. Robo-advisors are exemplary in providing a better customer experience with digital technology. Robo-advisors help provide better, more efficient communication methods, resulting in better customer service. 

Robo-advisors have become critical for servicing customers from a bank’s perspective. Robo-advisory is expected to see widespread adoption in wealth management firms owing to the cost savings and better customer experience offered.

How syndicated market research helps companies take business decisions

When it comes to market research, there are more options than one can think of. Many companies believe that getting a custom research report is the only option. But more often than not, it is beneficial to opt for a syndicated market research report. Syndicated research is done by market research companies without any specific request from a client. These reports generally offer a broad overview of an industry as well as insights about the industry as a whole. Syndicated research is independently conducted, published and sold by research firms who leverage their considerable experience and expertise to determine the subject and scope of these reports.

The data available on syndicated market research reports are invaluable for professionals working in brand marketing, competitive intelligence, or business strategy. Equipped with information derived from sound research practices, companies can make data-driven decisions to ensure maximum return on investment (ROI) from their marketing spend, focus their efforts on the right market segments, and prepare for future developments and changes in the market. Syndicated research generally provides a broad overview of an industry or segment and this macro outlook is just as helpful as a more in-depth custom research project.

Syndicated reports provide a clear representation of all the major stakeholders in the market, whether they are customers, clients, or businesses, and are large enough and weighted appropriately to accurately provide relevant and actionable intelligence. This market overview perspective allows companies to see how their brands and product offerings are perceived among customers and potential customers compared to those of their competitors. By offering detailed information on specific issues within an industry, syndicated reports is valuable for gaining intelligence on how best to position brands in a competitive market.

The best syndicated research produces actionable insights on the market, customer and behavior, product usage, emerging trends, and other industry topics that helps an organization to strengthen its position, plan specific strategies and take actions to drive growth and revenue.