Planning to hire a market research agency? To minimize the risk of paying too much or simply getting a “bad fit,” you need to write an RFP.
RFPs range widely in terms of their level of sophistication and complexity. If your need is for a simple project, do yourself a favor: keep your RFP simple. It will save you a lot of time when the proposals come back and you actually have to read them.
At minimum, a market research RFP states parameters and requests responses to the basics:
- Statement of objectives
- Target population (B2B, B2C), perhaps with quotas
- Statement of geographic scope
- Sample source: Are you providing it, or is the agency?
- Statement of preference for qualitative or quantitative methodologies, if any
- Deliverables required at project conclusion
- Timeline requirements
- Qualifications required
Consider the above list your minimum RFP content. Of course, you can add many more items, depending on your project’s goals. Here are some more examples of things you can request in an RFP:
- Please provide information about your firm’s relevant industry experience.
- Provide biographies for the key team members you would assign to this project.
- Describe your methodology recommendation and how it will address our objectives.
- Provide details of your quality assurance (QA) practices.
- How will you ensure sample qualifications?
- (For international studies) Please describe your experience collecting data in the target countries.
- Please list the critical success factors and risks you see for this project.
- Please describe the expected timeline for this project, including key milestones.
- Given our objectives, what screening criteria and quotas do you recommend?
Market Research RFP Resources
For more tips on how to write a great RFP: RFP eBook
For on-site help, check out our workshop offerings: workshops
Or check out the book, available in Amazon: Amazon Link