Whether trying to win over a new client or impress stakeholders with a fresh strategy, crafting a detailed and persuasive proposal can make the difference between a project that moves forward and one that stalls. You have the skills, the drive, and the expertise. So how do you gain buy-in and convince your audience you can get the job done?
We explore what a market research proposal is, provide a roadmap of how to successfully showcase each section of your proposal, as well as provide tips to elevate your proposal above the rest.
What is a market research proposal?
Firstly, an important distinction: What is the difference between a market research proposal and a marketing proposal? Well, the former is the crucial Step 1 of revolutionizing a client’s business. It’s a plan to conduct research that gathers information about the market, such as consumer preferences, competitors, and industry trends. These might then inform and shape a marketing proposal, AKA Step 2, which will execute promotional strategies.
Our focus here: Step 1. The more rigorous your research proposal, the more your chances are of clinching the role.
Here are the objectives of the project:
- Clarify research goals
- Secure stakeholder approval
- Provide a structured plan
- Manage expectations and align team members
- Justify resource allocation
- Help identify potential challenges
“Market research is essential when it comes to informed decision-making. Without it, businesses may rely on assumptions or intuition, leading to expensive mistakes. It can help identify risks, assess demand, and evaluate competitive landscape”
Bleona Bicaj, Senior Market Research Analyst at SlashData
Key elements to include in your market research proposal
Now that we know the end goal, how do we present our case? For a precise and accurate proposal, we’ve laid the foundation, you just need to build on it. Here’s what to include:
- Executive summary
- Goals and objectives
- Hypotheses
- Method
- Fieldwork and data collection
- Timeline and costs
Executive summary
The trailer of your movie, this summary gives a snapshot of the whole thing.
It contains a short statement that addresses the problem or proposal and features background information, a concise analysis and a conclusion. An executive summary is designed to help executives and investors decide whether to go forth with the proposal.
A few pointers:
- Hook the reader in the first couple of lines. Highlight how your research will provide valuable insights
- Use active language - choose ‘will’ over ‘could’ or ‘should’ - “Our research will reveal”
- Keep it short and sweet. A weak executive summary that fails to capture the proposal’s essence means there’s a high chance of it getting disregarded.
Goals and objectives
This section is your compass. Think of goals as the why and objectives as the how. Remember, goals are broad:
- “We plan to uncover competitor strengths and weaknesses”.
Objectives are specific and measurable, so include figures and statistics here:
- “We aim to increase customer satisfaction by 10% within 4 months.”
Here is another example relating to the improvement of product features in a mobile app:
Goal:
- To refine an existing mobile app by incorporating user feedback to improve its usability and functionality.
Objective:
- Conduct 200 interviews with current users to identify the most common pain points with the app’s user interface and navigation.
Hypotheses
These are your educated guesses, the predictions based on what you think the research will reveal.
A well-crafted hypothesis sheds light on your findings, regardless of whether it's validated, contradicted, or remains uncertain. When formulating it, avoid framing it as a question. Instead, shape it as a definitive statement that can either be upheld or dismissed:
“If we do X, we expect Y.” For example, "Customers aged 25-35 are more likely to prefer online shopping over in-store shopping."
Your hypothesis should be designed to uncover valuable insights. Another thing to bear in mind: Include a couple of hypotheses, but don’t overwhelm. One or two strong ones are better than five vague guesses.
Method
Think game plan. This is where you explain how you’re going to carry out the research, from the techniques you'll use to who will be involved and how you'll analyze the data. Are you opting for either qualitative research or quantitative?
“Qualitative research needs to detail the settings, participants, and the context in which the research will take place. As methods of gathering data, the focus should be on interviews or focus groups, as two examples of qualitative methods, detailing how the data will be gathered. For quantitative, the proposal should specify the survey method, including the sampling techniques, population details, and the type of data to be collected and analyzed through statistical tools and procedures”
Bleona Bicaj, Senior Market Research Analyst at SlashData
Think of this as your recipe—what ingredients (methods) will give you the tastiest (most insightful) results? Be clear and logical. Consider including a mix of the two.
Bleona Bicaj, Senior Market Research Analyst at DataSlash, further explains:
“For a more well-rounded picture, mixed-methods research (involving qualitative and quantitative) is a good option. They offer a more comprehensive overview of a given topic, leveraging benefits from both research methods and providing both the "why" and the "how" behind different trends or behaviors”.
Fieldwork and data collection
It’s time for boots on the ground. Talk about where, when, and how you’ll gather your data. You’ve got the method, now explain how you’ll put it into practice in the real world.
Are you targeting a specific demographic, region, or customer base? Will you conduct online surveys, in-person interviews, or target focus groups? As technology has advanced, so have fieldwork methodologies. They now incorporate telephone interviews, video interviews, social media analytics, mobile data collection, and so on, allowing researchers like you to reach larger and more diverse audiences. So take your pick.
Fieldwork is not without its challenges. Here are some things to look out for:
- Data Quality: Be wary of respondent fatigue, bias, and dishonesty, all of which can seriously skew the research results.
- Ethical Considerations: Fieldwork must be conducted responsibly, ensuring the protection of privacy, informed consent, and careful consideration of sensitive topics—because nobody wants their secrets spilled over a cup of coffee or their personal life turned into a case study without permission! It's not just about ticking the right boxes; it’s about being kind, respectful, and a good human. After all, people are generously sharing their time and stories with us, so let’s return the favor with care and a good dose of empathy.
Timeline and costs
This paves the way for how long each stage will take and what it’s going to cost. Several factors must be taken into consideration when determining a budget. People want to know you’ve done the graft and there won’t be any surprises along the way.
Bleona Bicaj tells us:
“Several factors need to be taken into account when determining the budget for a market research project. Initially, the research objective (the complexity and the depth of the objectives) is an important consideration. Following that, the target audience and methodology type are important too. For the target audience, harder to reach populations might require additional budget, and for the methodology type, qualitative vs quantitative research methods require different resources. Other than that, we consider factors such as human resources working on the project, the tools we need to use for running the project, data collection costs, etc”
Split the timeline into phases and assign a date, for example:
Include costs for everything: staff, software, travel—be meticulous. And remember, make it realistic. Build in a little buffer for unexpected delays. When it comes to costs, overestimate a little. It’s better to come in under budget than over!
We’ve had a look at how to categorize essential information so that it reads as a practical yet engaging market research proposal. Key takeaways: Be thorough (leave no stone unturned!), be clear in your structure, and include some data-backed confidence.
How to create a market research proposal: Expert tips
The best part about expert tips and advice is that there’s no need to reinvent the wheel. We’ve laid out what works and what doesn’t. Save yourself time and effort by following these tips when curating your research proposal.
Dig into past data or trends to shape your hypotheses
Demonstrating familiarity with industry trends and incorporating historical data adds a layer of analytical rigor. The details matter: show that you can look at past findings before looking at what may lie ahead. Anticipate changes and prepare to provide actionable insights that can guide decision-making.
Know your audience (the pair of eyes reading your proposal!)
By knowing who will read the proposal, you can use language, jargon, and terminology that resonates with them, whether they are technical experts, business executives, or marketing professionals. But, strike a balance—avoid overloading the proposal with complex language that the client may not understand.
Include a competitor analysis
This is a biggie. Benchmarking, identifying market position, and understanding customer preferences are some benefits of including a competitor analysis in your proposal. Consider the ways in which you could present the output.
Bleona Bicaj gives her recommendation:
“One good alternative is through a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) which outlines what competitors are doing well, where they are lacking, potential threats they pose, and opportunities that they are missing which we can exploit.”
Keep it concise and engaging
Let us be concise in saying this: Avoid the fluff. Clarity over complexity. Less is more. Decision-makers often have limited time to review proposals. A concise document ensures that key points are quickly understood, increasing the likelihood of maintaining their attention throughout the proposal.
Include interactive elements and visuals
Diversify your approach with variety. Use charts, timelines and graphs to visually represent the stages. Infographics, maps, flowcharts, tables, photographs and visual mockups are but a few on the list of scalable and innovative marketing tools to make your proposal aesthetically pleasing and memorable.
By using a web-based proposal tool, like Qwilr, you can easily embed interactive elements—from ROI calculators and pricing tables to data dashboards and videos.
Include social proof and previous work
If you back yourself, sell yourself.
Be credible! By showcasing previous successful projects or endorsements from reputable clients, you build trust. Be relevant! Highlighting case studies or examples that relate closely to the current proposal illustrates your understanding of the market and its dynamics. Be confident! Testimonials or statistics from past clients can strengthen the proposal, indicating that you have a proven track record.
Personalize your proposal
The stats have been published and the proof is in the pudding. Differentiated proposals are much more likely to be considered as a marketing strategy. Clients are more likely to respond positively to proposals that reflect their specific context and demonstrate your commitment to their success. 89% of businesses are investing in personalization this year. Personal touches can foster a stronger connection and indicate your genuine interest in helping the client succeed.
Market research proposal template
By crafting a compelling roadmap that showcases your strategic thinking, demonstrates your understanding of your client's needs, and outlines exactly how your market research will deliver results, you can reach your career milestones.
All things considered, Qwilr’s market research proposal template is designed to seamlessly streamline the proposal process, allowing you to tailor your project and showcase your brand.
What’s included in the template?
- Executive summary
- Objectives
- Hypotheses
- Method
- Timeline and costs
- Quote
- Our work
- Our team
Check out more of Qwilr’s marketing proposal templates here
With Qwilr, you can:
- Customize a user-friendly template to be on-brand and client-tailored
- Adopt innovative design features such as unique brand set-up, styling and template options, and tokens of your choice e.g [Your Company]
- Track engagement on your proposal through real-time notifications and collaborate with others by sharing access to your template and monitoring analytics
Wow prospective clients with engaging proposals
Conducting market research is essential for gaining insights into target audiences and their preferences. It plays a crucial role in identifying new opportunities and enhancing existing products or services—but none of this matters unless you can get your foot in the door with an impressive market research proposal.
Start streamlining your process with Qwilr, the best proposal software on the market. Sign up for a free trial and take your market research proposals to the next level.
About the author
Brendan Connaughton|Head of Growth Marketing
Brendan heads up growth marketing and demand generation at Qwilr, overseeing performance marketing, SEO, and lifecycle initiatives. Brendan has been instrumental in developing go-to-market functions for a number of high-growth startups and challenger brands.
