Research Optimus provides a Leading US Recreational Financing Company with Research and a Database of 3000 Marine Brokers from 50 US States

Introduction

• The client is a trusted source for loans and financing in the US and was looking for authentic information on its competitors in recreational financing
• They wanted to partner with Research Optimus to access in-depth market research of its competitors and a validated database of marine brokers from all 50 states in the US
• On completion of both tasks, in-depth market research and building a systematic and high-quality database, the client could assess their competition and use the database of 3000 marine brokers to plan their upcoming sales campaigns.

The Problem

Based in Georgia, our client was keen to expand their business opportunities in other states of the US. They mainly wanted to find out the total market size of the business opportunity and the names of their competitors.

They also needed additional details on the recreational habits of the people and the manufacturers of RVs, boats, and campers existing in the prevalent state. Full-fledged and detailed research covering the length and breadth of each state had to be undertaken with the quickest turnaround time. The client was looking for a professional research company that could fulfill their requirements with the most competitive pricing.

Subsequently, after several attempts, they got our contact details from a reliable source. After the initial discussions, the client was satisfied with our body of work and 15 years of experience in undertaking extensive research for clients across the world.

The Challenges

The client shared how they faced several hurdles in their research plans.

• Their internal team lacked the right qualifications and technical know-how on how to undertake research of this magnitude.
• They needed more bandwidth and time to undertake full-fledged in-house research. Hence they decided to outsource the research work.
• But they had trouble finding the right qualified research agencies/experts in the niche field of recreational financing
• Those agencies which did meet their criteria were, however, expensive as the client had budget constraints.

How We Helped

After analyzing and understanding the challenges of the client, and client’s brief, we prepared a questionnaire with 15 questions, which would serve as the framework to create a repository of information from all 50 states in the US. It also had to include generic as well as specific state-wise details with regard to financing, registration, and recreational options.

The research involved accessing data on the competitors, the various recreational spots, recreational events and competitions, manufacturers of recreational vehicles, and even zeroing in on the specific species of fish found in certain waterbodies! The entire research was completed in three weeks, and the report was handed over to the client. The client was extremely satisfied with the quality of the research produced and hence approached us for the second task.

The second project was to build an authentic, accurate, and complete database of marine brokers in the entire US through whom the client could sell their various financial products.

We created a database of 3000 authentic marine brokers so the client could touch base with the right person for their financing and loan services. We validated the procured emails from these companies using email validation sites as well as by doing a deep-dive search in Google. The project was handed over in one week’s turnaround time.

Research Optimus experts ensured that there were no loose ends in any of the reports submitted so that the client could have a clear understanding of which places and audiences to target for their business expansion plan.

Our Strategic Solution

We put our highly professional team of research experts and analysts to understand the client’s requirements thoroughly and then kept them updated stage by stage for formulating the research framework.

• The team efficiently collated the results for the nationwide research and handed them over to the clients with a turnaround time of three weeks.
• For the second project, we gave the client validated email IDs and contact details of 3000 marine brokers, which were critical for upping up our client's business expansion plans with a quick turnaround time of one week.

Results

The client was satisfied with the extent of research we had undertaken, which had nearly 95 percent accuracy and a large number of opted-in contact numbers in the final database.

• Using the final comprehensive report based on the extensive research collected from all 50 states, the client assessed the feasibility of approaching clients in those specific areas for selling their financing and loan products.
• The client also used the database of 3000 marine brokers to plan their future campaigns and to adopt the right approach to target prospective marine brokers.

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