Why are traditional market research firms getting left behind in the industry's rapid evolution?
On this episode of Ponderings from the Perch, the Little Bird Marketing podcast, host and CEO Priscilla McKinney talks with Tony Brown, founder of SKAIL, about transforming revenue generation strategies beyond traditional relationship-based selling. The urgency of this transformation is evident in recent industry reports, which show traditional firms growing at just 3% while the overall industry enjoys a 7.6% expansion rate.
McKinney and Brown discuss how market research firms can adapt to changing market conditions, particularly focusing on marketing effectiveness in their business development efforts. Brown, with over 25 years of experience as a fractional sales leadership consultant, shares insights on helping research firms transition from reputation-based growth to proactive business development, emphasizing the importance of measuring marketing automation ROI.
"Sales is not really about sales," Brown explains. "It's truly about understanding your clients' needs and understanding that you personally have a skill set that is of value."
They also discuss the evolving role of conferences in business development, the challenges of balancing "seller-doer" roles within research firms, and the importance of properly implementing CRM systems. Brown emphasizes the need for cohesive strategies that align marketing efforts with sales processes, while McKinney highlights the critical connection between customer experience and revenue growth. The conversation touches on how AI's advancement might actually increase the value of qualitative research, positioning firms for future success if they can adapt their sales and marketing approaches accordingly.
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