In May, Quirk’s Editor Joe Rydholm moderated a conversation with executives from three research firms as part of a Quirk’s-hosted and Deltek-sponsored Webinar. The execs explored some of the issues they’re facing running their companies and the growth opportunities available for today’s marketing researchers. Panelists were Jim Bryson, CEO of 20/20 Research, Nashville, Tenn.; Duncan Lawrence, CEO and president of Morpace, Farmington Hills, Mich.; and Scott Young, president of Perception Research Services, Teaneck, N.J.
Panelists were asked questions around the following four topic areas:
- talent and organizational culture;
- business efficiencies and profitability;
- technology; and
- winning new business.
Throughout each topic-discussion it became clear that the three firms place a high value on being customer-centered. When asked how their firms ensure that projects are run efficiently and contribute to the bottom line, Young pointed out the importance of considering client needs on an individual basis. “We believe in the gold standard, so to speak. But we have also realized that clients have different situations and different constraints, be it budget, timing and so forth. There is nothing wrong in giving them the best possible [services] at different price structures,” said Young. Lawrence echoed this, saying, “It’s no one thing [that ensures efficiency]. Each client can require different types of things.”
Near the end of the Webinar, the panel was asked to name three factors that have contributed to their firm’s success and to give a piece of advice to C-level executives trying to grow their MR business. The conversation went back to the customer and the importance of hiring people with a customer-centered mindset.
Here are some highlights from the panelists:
“We are a people business. That’s number one, have great people. Number two, [have] great partners. It’s the way we’re going to keep abreast to the changes in the marketplace,” Lawrence said. “Number three is attention to the client. We survey our customers constantly and we’re doing a pretty good job on the elements we are looking for. You always want to do better. The more you take care of what you have, [the more clients] are going to say good things about you. Then good things happen.”
“Align talent with vision. You need the right people in the right seats doing the right things. I think it’s one of the most important things you can do to have a successful company,” said Bryson.
“It’s very easy [when] running a company to get lost on the internal side. If we lose sight of the client, what they are, what they are facing, what their challenges are and [stop] really listening to them, I think you’re in deep trouble. I try to spend at least half my time on direct client service,” said Young.
Interested in delving into one of the four topics or looking for more advice from the panelists? Check out the event recording at http://bit.ly/1KGbBd1.