This week, MRS has launched a new website for small and medium sized enterprises (SMEs) 'Research_for small business' to demonstrate the value of market research for smaller companies and provide them with support and expert advice when getting started.  

Market research is not just for big businesses and it does not need to be expensive.  In fact, with reduced budgets and restricted resources, smaller companies may have even more to gain.  Research can identify demand for your good or service before it launches, it can help you understand your customer – what motivates them and engenders their loyalty – and it could save you money in the long run.

Sponsored by Whycatcher and Zappistore, Research_for small business offers advice on how to choose the right agency and tips for SMEs carrying out their own research as well as a jargon buster for all the technical terms. 

There are video case studies with SMEs from a broad range of sectors, sharing their experiences of research and highlighting the need for market research beyond the beginning of a venture.  One example, when an arboretum used surveys to speak to its visitors and adjusted its prices to reflect the responses, proves it is never too late to know your customer better.

Jane Frost CBE, chief executive officer of Market Research Society (MRS) comments: “SMEs account for 99.9 per cent of UK businesses – but many think market research is only for big business and big budgets.  It’s in their interests and ours, to demonstrate the value of research and how, done well, it can deliver customers and growth to the bottom line. This fantastic new website will provide SMEs with a trusted source of good practice, tips and accredited research suppliers.”

Philip Morrison, managing director of The Distilleries and sponsor of Research_for small businesses, comments: “We believe customer research is under-used by SMEs.  There are reasons for this, but crucially many aren’t aware of the benefits – because you can’t know until you’ve done it! They’re also not sure how to get started.

“The new SME website aims to tackle these barriers head on and we think this is essential to galvanise the market research sector and unlock opportunities for small businesses.  Moreover, by making research more accessible to small businesses, we believe that this new initiative will improve the competitiveness of the entire UK SME sector.”

All companies and case studies featured on the SME website can also be found in MRS’ Research Buyers Guide – now available online for the first time.  The guide allows companies to search by location, size and specialist expertise to find the right agency for them. 

MRS Company Partners that would like to appear on the website are encouraged to get in touch: 020 7490 4911 / rsb@mrs.org.uk.

New website to help SMEs use research

With SMEs accounting for 99.9% of UK businesses this new website will provide small businesses with a trusted source of good practice, tips and accredited research suppliers.

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