A strategic alliance with a strong research partner enriches an internal research program and fosters the decision-making process within an organization by delivering focused insights. During our recent webinar, How JPMorgan Chase Created a World-Class Insights Team featuring Mamta Gupta, Executive Director, Head of Global Strategic Intelligence at JPMorgan Chase, we discussed the value of a trusted research partner. Here are five key takeaways from the conversation.
1. Look for research partners that have the right level of experience to meet your needs.
The firm you select should have a solid research record with firms of your size and scope along with the ability to bring perspective and a viewpoint to the findings. Fresh perspectives can complement the work you’re doing internally, add to the collective of information, and foster thinking to facilitate research that will achieve the best outcomes for your company.
2. Find research partners who are comfortable working with a business of your size and scope.
For organizations operating on the scale of a large corporation, partnering with research teams that have experience working with similar-sized entities is essential. Doing so provides a better understanding of the intricacies and challenges associated with substantial organizational structures. Research partners with a background in handling the complexities of big companies bring valuable insights and strategies tailored to meet specific needs.
3. Make sure your research partner understands your segment, and your niche.
If your firm is in the Business-to-Business (B2B) space, your research partner must have a high B2B IQ. The unique dynamics of B2B interactions require a nuanced understanding of the market, stakeholders, and decision-making processes. Partners with deep experience in your space bring added value to the table.
4. Value a research partner’s ability to challenge the status quo.
A research partner that challenges assumptions and probes deeper into issues can help to foster an environment of innovation. A third-party perspective ensures that research efforts are not bound by traditional approaches but are open to exploration and adaptation.
5. Evaluate research partners as a potential extension of your team.
Effective research extends beyond data collection; it focuses on achieving a tangible end goal. A true partner demonstrates a commitment to working toward solutions that address your objectives, building tailored research programs, and aligning efforts beyond research delivery to ensure actionable outcomes.
Mamta also talked about her experiences in building strong internal teams, and the methods she uses to find researchers who will be a good fit in her department and the company. If you’re expanding your team, take a few minutes to watch the webinar replay to get valuable tips on building a world-class team at your organization.
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