MDB Insight Blog

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How Much Does Market Research Cost Your Community?

Hiring a market research firm doesn’t have to blow the budget and it can provide countless benefits you may not have considered, like:

innovative scientific survey methods; a holistic approach with background experience in municipal governance, economic development, and data analysis. Hiring a firm also brings a fresh outside perspective, a new set of eyes on your community to help identify challenges and opportunities. Because of their outside perspective, external experts can often help you identify exciting new opportunities within your community. 

Why Is Market Research Important?

Market research can help you identify solutions for the issues your residents see as priorities. Fast response times to community challenges help your citizens feel heard. Real-time data means you can better satisfy citizens, a win-win for everyone. 

General nationwide data can be helpful for some things, but if you’re trying to develop local community initiatives, only accurate data from your community will be useful. Having good data before you start a project means you aren’t just guessing. With targeted market research you’ll know what matters to your community, and you’ll be able to focus development funding where it will be the most useful and successful. 

Citizens want to know their tax dollars are being used efficiently and effectively. When budget decisions are made, you won’t have to hope for the best because you’ll have the data you need to make the best happen. Relevant detailed data means you’ll be able to show the community how you’re putting their tax dollars to work. Transparency builds trust, engagement, and satisfaction in your community.

Market research changes development from a guessing game to an evidence-based strategy game with factual data that truly represents the community’s needs and priorities.

Valuable Market Research Tools You Need to Know About

MDB Insight’s Citizen Satisfaction IQ™ is a comprehensive approach that helps you identify whether or not your citizens are happy with current municipal services. The report you receive highlights what citizens think you should prioritize for development and improvement. 

Citizen Satisfaction IQ™ offers a variety of surveying methods to collect the most accurate results, including: computer assisted telephone (including cell phones, not just landlines) interviewing; interactive voice response; online polling; an optional tax sensitivity calculator; in-person interviews; panels and focus groups. 

image4We analyse the results to tell the story behind the data - your residents’ priorities. We help develop  the solutions you need, based on actual, reliable evidence. Representative data is the only way to ensure every segment in the community is heard, and that decisions are based on facts.

We use a derived importance model. Derived importance measures which service changes will actually improve overall citizen satisfaction. The derived importance model is an informative metric for municipalities to track and show success.

MDB Insight’s Tax Sensitivity Calculator™ surveys your property-tax-paying residents. During the survey they can choose which municipal services they think should be improved. Their selections will show them how these choices will directly affect their property taxes. This helps citizens better prioritize services they care about and are willing to pay for. 

The Tax Sensitivity Calculator™ involves citizens in the budgeting process, helping them feel their choices have been heard. And you come away armed with evidence about how community members want their tax dollars spent.

Example: Flagstaff County Road Surfacing Project

Flagstaff County in Alberta had a number of road surface improvement projects to complete in their region. There were two different material options available for repair: standard gravel resurfacing with a dust suppressant applied topically, or a more sophisticated gravel surface with a dust suppressant already in the mixture. Both options would have an impact on property tax assessments for the community. Instead of making a guess, Flagstaff County used MDB Insight’s Tax Sensitivity Calculator™ to quantitatively determine which option residents were in favour of supporting.

Community members were able to participate in the decision-making process, ensuring their concerns were heard, their needs met. The County demonstrated that it was representing their best interests. 

How Much Does Market Research Cost?

So, how much does quality market research actually cost? MDB Insight has market research packages starting as low as $10,000.We’ll collect and sift through the data for you, identifying the patterns and trends so you can develop policies that address the specific issues your community members feel are important. Better policies and more satisfied citizens means a better community for everyone.

Tackle the Challenges in Your Community with Fact-Based Evidence

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