Here, we will consider the remaining parts of the research plan or proposal, included anticipated deliverables, timeline, budget, qualification, references, and appendices. These are very important and could either make or break getting the job or the project. Let's start by considering the anticipated deliverables. You must communicate what the client is going to get. Market research is a service, so deliverables may not be clear to the client. You may have to provide answers to the client's unstated questions, such as what tangible project are they going to get? Is there a report or some type of analysis? Is it going to be written? Is it going to be PowerPoint? Is there a presentation that's going to be included with it? What comes with the appendices? Do they get data sets? Do they get electronic versions of this? Or does the RFP say they need to have ten printed copies and it is bounded? Dispel any mystery. Tell them specifically, our typical research report of this type is 15 to 20 pages with optional charts. If you're going to do a focus group, you'll get anonymous transcripts and recordings. This is a precursor to a contract. It's yet another opportunity to disclose formally, what they will get and what they will not get. Next, let's discuss timeline. You need to inform the client how long it's going to take you. They'll then decide if that works within their time frame. If this is a competitive bid process, you need to disclose, how long it would take you so they can compare it to the other proposals. This is why I say, it can make or break you. You may be higher priced, but if you're getting it done faster, it may carry more value for the client. Educate the potential client in terms of the steps that need to happen. Explain that this is a scientific process, and that this is what you need to do. This isn't hocus-pocus where a report magically shows up on your doorstep four weeks later. Clarify the value by explaining the steps, milestones are critical. Getting feedback from the client could be part of the milestones, that ensures that you get buy in during the research process. For example, if you develop a survey tool, they might have agreed with the outline, but you need to share the survey tool with them. You also need to share the target market, even though that may be part of the methodology. One of the worst things that could happen in the whole process, is that you start putting a plan together, and executing the research, and then client says, we didn't approve this survey, why weren't we involved in this? Then you have to go back to the drawing board. They need to know what their role is in the research process, that's why the milestone piece is vital. When you break it into milestones, they can see when the final delivery is, what the steps are along the way, and what role they play in the process, that achieves buy-in and manages expectations. Budget is important, obviously, some people say it's all about the budget. I would argue that it's all about value. The lowest price doesn't always win. You need to provide a clear picture of what the budget is going to be for the entire project. If you've done a good job with the methodology and the milestones, then you may only need a line or two for budget. However in some situations, if you haven't established your reputation, you might have to unbundle the budget. The most important parts of the budget are the research plan and how the secondary and internal research is applied. However, it is important to explain how you envision these relating to the constraints, timeline, and budget. The client or potential client will want to know how long the research will take, because market research is a snapshot in time. Therefore, it will lose value over time. Budget is also a tradeoff with quality in the value part of the equation. So view your budget section of the proposal as an opportunity, to persuade the client to trust the value you can provide. I also see it as an opportunity to sell different iterations or options with in the project. You can sell a smaller project at a certain price that carries with it a little more risk, or you can sell them a larger project with options. Such as surveying a segment like the millennials or the boomers as well, or separately. The budget also acts as a precursor to a contract. It previews what they're going to get and what they may expect. It also is an opportunity to clearly state additional costs, such as travel, or that optional segment research costs that are additional. The next section is qualifications, references, and the team composition. The potential client need to know you have a smart and capable team of people in a reliable network of outsources. Address each of these categories sufficient to the client's needs and expectations. Every good research project requires a team of people or technology or something to build credence. You've gotta understand your own distinguish and qualities. This builds confidence that your team can do the project. One is your experience or your references on your client lists. There might be two or three or five relevant names or references that you might have that you might want to impress your potential clients. It could include a client list of all your past clients, or clients by relevant sector. Those will all credence or reputation building tactics. Your project team carries weight as well. The potential client will need to see, who they will be interfacing with on a day-to-day basis. Who's going to be analyzing the data? Who's going to manage it? Many times, it's a point of strength for some researcher firms to say, they've got an industry specialist in education, like myself, or they have somebody that's been an analyst for a pharmaceutical company on their team. Many different things can help build credence in terms of the proposal. This section is your opportunity to highlight people and express you're capable to do that job. The last section is the appendices. That's the catch off for whatever doesn't fit in the proposal well. For example, previous samples of your work. I've seen some firms use this section to show the math behind the sample size or something like that. Or show a proprietary model and reference it there, so it doesn't put too much technical jargon upfront. Other folks put sample surveys in this section. They also put things that they've done similar to what's being asked. Folks have also put news clippings or brag pieces in there that the company was featured in, such as the New York Times or some other publication. The appendices are the kind of catch-all, where you don't want to clutter a fairly focused proposal. This lesson and the previous one together describe the component parts of a market research plan or proposal. As with all the professional writing, you will need to hone your skills and adapt your presentation to the specific needs and culture of particular clients.
