Future Market Insights: Not Just Service, But a True Solution Provider
Date: Tuesday , January 26, 2016
In an attempt to study the degree of disparity in economic maturity among people from different demographics, 1500 people from 15 countries were asked to flip a coin with the promise of a monetary reward for heads. The test revealed a mountainous difference in participants accurately reporting the results - this difference ranged from 3.4 to 70 percent. This disparity, the researchers noted, could be pinned down to cultural and behavioural roots.
In the context of market research, this experiment underscores an important point: Enterprises need to offer services and solutions tailored to specific economic and demographic needs. A solution that is effective in developed countries ends up futile in emerging nations. While emerging markets have become the growth engine for many companies, getting the right insights to guide business strategy remains a key challenge. Identifying potential customers, setting realistic targets, and developing effective strategies are essential components of a successful foray in emerging markets.
Future Market Insights (FMI), a comprehensive market research solution provider, embarked on its journey in September 2014 when it found the tremendous opportunities and certain gaps it can fulfil with a portfolio customised specifically for emerging economies.
Understanding the pulse of the market facilitated this market research and consulting company to execute more than 400 projects for numerous Fortune 100 clients including Google, Apple, Philips, and Siemens in such a short span. From two employees in September 2014 to over 120 full-time employees today, FMI has grown to become a renowned brand across 18 countries (GCC, BRICS, ASEAN, Greater China, Africa,and Europe among others). FMI\'s analysts are regularly invited to speak at international forums and often serve on the panel of industry expos. The pace at which FMI has progressed can be gauged from the fact that it\'s witnessing a 400% growth on a monthly basis.
Tailored Client-specific Solutions
Staying true to its motto of focusing on next-generation technologies that can transform emerging nations, FMI offers client-specific solutions to meet the unique needs of businesses. Despite covering diverse nations with a wide variety of portfolio, the company deploys a broad spectrum of databases, resources, and methodologies to offer unmatched insights to its clients.
FMI has separate capabilities to cater to various segments, including B2B and geography-specific. Offering end-to-end solutions, FMI\'s services are not limited to market estimation, but also include syndicated research, investment research and social media research. For instance, FMI\'s social media analysis helps businesses understand consumer sentiment around their products and services.
FMI focuses on building long-lasting relationships, offering a seamless customer service experience to its clients. Right from the initiation of the project to after-sales, FMI\'s customer service team is available 24x7 to serve the clients. \"With an end-to-end solution approach, we solve real problems of the industry by comprehending the basis of the problem. It is our endeavour to exceed the expectations of our clients every single time,\" says Sudip Saha, VP - Sales & Strategy, Future Market Insights.
Highly Responsive Environment for Clients & Employees
FMI strives to build an environment that is conducive for consistent growth - both for its clients and employees. As time is of paramount importance in the market research industry, honouring deadlines while offering quality first-hand data has helped the company earn the trust and respect of some of the biggest Fortune 100 companies. FMI considers its employees as its most valuable resources and invests time and resources to train them. While lateral hires are trained through dedicated 40 man hours of training, new employees undergo intense training for a month to develop their market research and soft skills, after which they shadow senior analysts for three months. \"New employees undergo a rigorous training program before a client project is assigned to them,\" Sudip adds.
FMI focuses on wholesome development of its employees and encourages them to engage in recreational activities. The company regularly sponsors team outings, sports competitions, and training sessions to help employees maintain work-life balance. FMI follows a flexible working schedule, meaning the employees are not bound by a fixed 9-6 schedule.
The Road Ahead
FMI aims to raise its headcount to 500 by the end of 2016 and setupa near-shorecentre in U.S. and Eastern Europe. It\'s also working on strengthening its partner network in GCC and ASEAN regions. Working on a project-specific strategy currently, FMI\'s roadmap involves shifting its tactic to operate in a competitive FTE-based model.