Marketing researchers play an essential role in the business. They provide valuable data and information that validates offerings, provides a better understanding of customer behavior and preferences, and ensures that resources are allocated appropriately.
A Marketing Research Executive should have a balance of analytical decision-making skills and strong team management and interpersonal skills. Here’s a practical guide to help you hire the right market research executive for your firm.
Do Take Time to Clarify the Role
Take time to clarify the role and develop a job description that justifies the expense of hiring a market research executive. There are advantages and disadvantages to building an in-house market research team. It’s essential to analyze the costs of supporting an executive role against the expenses of outsourcing to a market research firm. It’s also important to clarify whether the in-house market research executive will have a budget to outsource certain tasks as needed.
Clarify the skills and qualifications you expect for the executive market research role. Some notable qualities include:
- Project and team management
- Budget management
- Strong data analysis skills
- Understanding of statistics and mathematics
- Knowledge of sociology and psychology
Work with HR to translate these skills into educational and experience qualifications relevant to the field and your industry.
Don’t Forget to Look In-House
Don’t forget to look at your existing employees before starting the recruiting process. Talk to key stakeholders in the business to determine if anyone in your organization has the potential to fill the role. For example, a senior marketing employee with in-depth knowledge of your products, existing customer base, and brand could be well suited for promotion.
You may still decide to post the role internally and externally. However, promoting from within can reduce hiring costs and improve employee engagement, making it worthy of consideration.
Do Put the Right Panel in Place
Assemble a hiring panel to provide different perspectives and share the workload throughout the hiring process. The committee should consist of key business stakeholders adjacent to the market research role— yourself, the CFO, and the head of HR, for example. It’s also worth considering the value of working with an executive recruiting consultant to navigate the process.
Don’t Micromanage the Process
As market research plays such an imperative role in the business, it’s natural to fear a loss of control or wasted resources. Don’t let these concerns lead you to micromanage the hiring process. The value of having a hiring panel is to get perspectives that challenge your views. Trust the process and your team.
Do Take Your Time Deciding
While there might be a sense of urgency in filling the market research executive role, don’t let it lead to impulsivity. Take your time reviewing the candidates, weighing the pros and cons, and deciding who will be best for the role now and in the future.
It’s also important not to rely solely on your first impressions or rapport with the individual. Marketers can be incredibly charismatic and engaging. While cultural fit should be a factor in the decision, it’s best to focus on the information collected through the recruitment and interview processes.
Don’t Hesitate with Follow-Up
Don’t hesitate to reach out to your top contenders after the initial interviews. A note from the CEO can help keep top talent engaged and interested in the role. This personal touch could be the factor that causes them to delay taking another offer while awaiting your decision.
Once a decision has been made, reach out as soon as possible with an offer. If you have a clear contender, offer them a generous salary rather than playing the negotiation game.
Do Look for Tangible Results
A market researcher at an executive level should be able to share tangible outcomes of their efforts. Look for a candidate who can show data regarding their past work and how it influenced profits and growth. Ask about challenges past employers have faced and how their work provided impactful solutions.
Don’t Neglect Soft Skills
While tangible outcomes are paramount when vetting a market research executive, soft skills should also be considered. This role requires someone who can communicate well and navigate interpersonal relationships.
This individual should be a storyteller who can translate numerical data into compelling marketing assets. They should be able to put people at ease and connect so they’ll feel comfortable sharing thoughts and opinions. The analytical skills matter, but they’re only a piece of the puzzle.
Hiring the right person for this role could drive your organization to new heights. Take your time and look for the individual with the right balance of skills and experience.
