4 Key OKRs & KPIs for your Virtual Web Research Team
Jun 18, 2020
Business Information Services
There is a huge volume of data being added on to the internet every day, every minute, even as you are reading this. But not all data on the world wide web is reliable. This massive pool of data present in raw form across various web pages has to be mined, extracted, and transformed into credible, usable information for businesses to use as and when required.
This underscores the importance of web researchers in any industry. Mining the data from different resources to build a superior quality database, analyzing it, and coming out with valuable insights and trends is not an easy task. For efficiently achieving this, the knowledge of certain data mining tools and techniques is an absolute must. It is a challenging and time-consuming task that could often be a drain on the core activities of the in-house team.
For many Business Information Service Providers like Crunchbase, Craft, Dealroom, Clearbit outsourcing web researchers have proven to be beneficial in more ways than one.
And how exactly can you determine if an outsourced web research team is actually working best for you?
Let’s take a look at the main Objectives & Key Results (OKR), Key Performance Indicators (KPI), and measurable metrics that can help you evaluate the performance of your virtual team of web researchers. Four key elements such as Deliverables, Quality, Turnaround Time and Budget often complement the goal and help in leveraging the accuracy of maintaining a healthy database.
Successful companies recognize how important it is to hire the right people at the right time, and just how pricey the alternative can be when a bad hire is brought on. It isn’t simply enough to outsource market research to a virtual team but also ensures that such a team is competent enough to give you the results you seek.
At lessburn, we listen to the needs of our clients, recognize their challenges and requirements, and come up with the best resourcing solution to help them thrive. Enriching our Talent Pool with Highly-Skilled Researchers is just one of the ways we do this, and it enables you to leverage the power of our skilled professionals to drive your business growth. You’ll be able to take on the services of our highly experienced web researchers in a way that’s both simple and cost-effective.
Accurate and credible web research is a key element that can give a business a competitive advantage. Web-based data collection and data scraping are the most effective yet highly economical measures to conduct secondary market research. But how do we ensure the quality of this mined data? Team lessburn, addresses this issue of data integrity through ‘Instant QCs’ or data quality checks that are performed on the data at the generation phase itself. We also do random data samplings at various time intervals during the workday with efficiency scoring in place for our Market Researchers. This in turn ensures that the data we come up with has an accuracy of over 99%.
Turnaround Time – TAT
Market Research Service Providers can help Business Information service providers maintain relevant, credible, and accurate information on their databases. But ensuring that this data is made available in a timely manner is equally important, especially when a lot of business decisions are time-bound and critical in nature. lessburn's team of highly experienced market researchers and project coordinators bring efficiency that allows for a quicker turnaround time without compromising on data quality and meticulous attention to prioritization of the tasks to the team.
The cost of hiring an in-house web research team can skyrocket especially as there are several add-on costs incurred during the hiring process, including advertising costs, salaries, taxes, sign-on bonuses, and many more. If a new employee is not a good fit and relieves after a short period of time, then the company may also incur a number of additional costs, including the cost to recruit and train a replacement, as well as the unproductive time that was lost.
For instance, lessburn's clients have sliced more than 50% of their budget spent on setting up their internal team and leveraged the expertise of our huge talent pool of Market Researchers for growing their business dramatically.
For quick confidence, Netherlands based dealroom.co has out-sourced an extended team at lessburn saving 25,600 USD every month for strengthening the firmographic data available in their database.
It makes absolute sense to look at web research as an aspect that can be outsourced, doesn’t it?
Apart from the major 4 key elements, Infrastructure costs play a vital role in out-sourcing a virtual Market Research team.
As pointed out earlier, hiring experts in-house can hike operating costs and additional costs come through infrastructural resources – office space, rent, maintenance of office spaces, staff workstations and project management of training, mentoring, overseeing the resources. While comparing with the in-house team, managing a virtual team is easier with effective project management systems and reduced costs in place. For the purpose of project management, lessburn’s web research leads, and managers will strategize, align and accomplish their tasks from their remote work bases but ensure timely delivery through effective collaboration with the in-house teams.
Considering the major key points that are involved in measuring the success of a quality Market Research with an out-sourced team that integrates into your vision with expected actions. Outsourcing web research can give you tailored solutions as per your business needs and can address all the challenges associated. As a leading player in web and market research, lessburn has been offering a range of web research services at a lower cost and higher quality results to our clients across the globe.