Entrepreneurs: Ensure That Your Market Research Software Investment Is Worth It by Asking These Important Questions

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Entrepreneurs: Ensure That Your Market Research Software Investment Is Worth It by Asking These Important Questions

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Purchasing and implementing market research software for your company sounds like an easy task, but in reality, it often isn’t. Although the potential benefits of using new or upgraded software can be significant, there are a number of variables that can make it challenging. That is why it is critical to ask several essential questions prior to making your purchase.

EMI Research Solutions shares the questions all entrepreneurs should ask themselves to ensure that their upcoming market research software investment is worth the price and effort.

Is it user-friendly?

All software that will be routinely used in your organization (including market research software) should be user-friendly. Even if you are tech-savvy, your employees and independent contractors may not be.

How can you know if a specific software is user-friendly? Since there is no established criteria or rating for user-friendliness, what helps most is reading online reviews. Doing this will help you get new perspectives and understand how others experience the program. Read each review carefully to draw out common themes. Is the software easy to learn? Does it offer a wide scope of features that are simple to use? Or do users note issues with navigation, troubleshooting, or reliability? Gaining an accurate picture of how your staff rates the software will help you compare options and make the best possible decision.

What are the attitudes about this software among your employees/contractors?

After gaining a thorough understanding of how others view the market research software, ask your employees and/or independent contractors for their opinions. Between showing screenshots, reviews, and requesting demos, you can give them an accurate idea of how this software will fit into their daily workflow.

Keep in mind that there will be cases in which a highly rated program will not be viewed as favorable internally. This can be due to your staff not wanting to change current processes, and a variety of other factors. Set appropriate expectations from the outset, and when possible, give your team more than one option for new software programs.

Does the new market research software require significant changes to your daily processes?

One of the most important questions to ask is if the software you are considering will require massive shifts in one (or more) daily processes. A program that seems simple and user-friendly can result in big changes to how you operate your business. While this shouldn’t be a deal-breaker, it should advise your timeline for purchasing and implementing the software.

For example, if you are planning to upgrade your expense tracking program to process invoices, bills, checks, and expenses faster, track and save receipts, and sort expenses, you will definitely have to prepare for making significant changes to your current procedures and habits. You may even need to update your existing hardware. Thinking through all these factors in advance will help you develop a launch timeline that won’t throw your daily duties into chaos.

Will the initial/ongoing costs pay off?

Many of today’s business programs come with a considerable price tag. Some even have ongoing subscription fees. While this is yet another factor that shouldn’t be a deal-breaker, it is something that must be fully considered. Weigh the pros and cons of having this software versus not having it to confirm whether the costs will ultimately pay off.

Does your organization actually need it?

Too many entrepreneurs purchase software that they don’t actually need, this is true with market research software as well. With new apps, programs, and subscriptions being released almost monthly, business owners who are eager to streamline everything end up wasting a considerable amount of money. Before purchasing any software, assess whether your company really needs it to grow.

Utilizing the above guidance is an excellent way to make wise market research software purchasing decisions. It can also help you reduce the amount of time spent on assessing program options for nearly every facet of your business.

EMI Research Solutions is a leading sample and market research consultancy that can help your business get top-tier, unbiased market research data quickly and efficiently. Request your consultation today.