What to Look for When Selecting a Market Research Company in Malaysia
Finding the right market research company in Malaysia for your project can be daunting, but there are a few criteria you should consider when making your choice. From understanding your goals and objectives to ensuring access to local data and resources, this guide explains what to look for when selecting a market research company in Malaysia.
Look for Experience and Relevant Expertise
When selecting a market research company in Malaysia, make sure to look for companies with specific expertise and experience. Experience in the local market is key. Look for a team that understands the local cultural and social nuances and knows how to get the best results from your survey respondents. Check the company's portfolio to see if they have completed projects similar to yours, as this will ensure they understand how to navigate your project with ease.
Ensure Credibility and Reputation
A market research company should have strong credibility and reputation in the industry. Do your own research about their projects, successes, and track records. Check if they are affiliated with professional organisations such as ESOMAR (European Society for Opinion and Marketing Research. Check references or testimonials from past clients to make sure that the company can deliver on its promises. Make sure they use trusted and accurate techniques to gather insights so that you can be confident that the data collected is reliable.
Choose a Market Research Company Experienced in Malaysian Culture
When selecting a market research company, it’s important to consider the culture of the country and region you’re targeting. A market research company in Malaysia should be familiar with the local culture, understand the local customs and norms, and have knowledge about the business environment of the country. This can help them more easily identify issues that may be difficult for outsiders to uncover.
Verify What Resources (Quantitative, Qualitative) They Can Offer
Most market research companies have access to resources such as surveys, interviews, focus groups, market analysis and more. Depending on your specific goals and objectives, you may require a combination of data collection methods. Make sure the team has the resources that best fit your needs and requirements. Do not be afraid to ask for details about their data collection techniques and sample sizes. Make sure that the company can provide you with accurate and quality insights in an efficient amount of time.
Check for Innovative Research Technologies & Techniques Used in Malaysia
In today’s era of digital disruption, market research companies are increasingly adopting innovative technologies and techniques to get insights into consumer behaviour. When selecting a market research provider in Malaysia, make sure that they can incorporate the latest technology and techniques into their work. This should include AI-powered research platforms, mobile surveying tools, social media listening capabilities, predictive analytics, natural language processing (NLP) exploration tools, and more. The right provider should be able to clearly explain how these technologies could add value to your project.
Decide if You Need Specialised Knowledge
When selecting a market research provider in Malaysia, consider the type of specialised knowledge you might need. In-depth knowledge of the regional market is essential for any company wanting to do business in Malaysia. An experienced market research provider can provide valuable insights into areas such as local laws and regulations, taxes, distributions and access to resources, industry trends and more. They should also have an understanding of different cultural norms that could affect research results. Look for providers with a deep understanding of the Malaysian market to ensure you get reliable insights from your project.
Before you select a market research provider in Malaysia, make sure that they have access to the data and insights that you need. Ask about their data sources and level of engagement with various communities, companies, and other groups in Malaysia. You also want to find out if they have industry-specific expertise in the Malaysian markets so that you can get tailored market intelligence specifically suited for your target audience.
Does the company provide market research services internally or do they outsource them?
Do they have a plan for fitting your budget? Are their services tailored to meet your needs without exceeding the set budget? Can they make the most out of your budget?
What will the project timeline be? Is it realistic?
Are the business objectives and desired target audience clearly understood?
How Can Vodus Research Help You With Your Market Research Needs?
Vodus Research is an innovative market research company that specialises in uncovering genuine insights into the local Malaysian market. We employ a unique One-question Media Tracking Online Survey (OMTOS) method that surveys 17 million Malaysian consumers instantly. With our extensive experience in research and expertise in the Malaysian market, we are able to provide clients with detailed strategies and market insights necessary for success.