Market researchers prove worth

Jun 23 2009 by Iain Laing, The Journal

A MARKET research agency expects to increase its business by almost a third this year after winning more public sector contracts.

Newcastle’s Marketwise Strategies has experienced a gradual increase in sales in the past four years but is on track to achieve 30% growth this year.

Managing director Jacquie Potts said: “Our financial year ends in September, but we have already brought in more work in the current year than we did last year. The reason we are picking up more work is simply through word-of-mouth recommendation from private companies, public sector bodies and universities.

“We’ve noticed many more public sector organisations coming to us for a greater insight on targeting their marketing spend. We’re able to use targeted research to help these organisations to get the most return out of their marketing budgets.

“This issue has become extremely important at the moment, as there is a growing push from the Government for evidence on where public money is being spent and why. Through strategic market research, they’re able to justify any spend, as well as highlight any need for further investment. It’s all about adopting a strategic approach, underpinned by research.”

It says it is also winning work from new firms, especially in the technology sector, which are looking for more information about their markets as they try to build their business.

A third growth area for the research firm is education, four out of five of the region’s universities being clients.