How to Excel in a Sales Role in Market Research
Richard Thornton shares his insights into the skills and values you need to succeed in a sales role within market research.
In the competitive world of market research, sales is all about understanding the delicate balance between analytical expertise and commercial acumen. Richard Thornton, an investor, advisor, and a core contributor to Cint’s successful IPO, exemplifies this.
In our latest episode of Early Insights, our CEO, Lewis Reeves, sat down with Richard to discuss his unique journey from being a hands-on researcher to leading the sales efforts of global businesses. These transitions were not only pivotal moments in Richard’s career but also a testament to the importance of developing robust skills in the market research industry.
The Path from Research to Commercial Leadership
In this article, we delve into a section of Richard’s interview, where he shares the risks he took, the challenges he faced, and the key decisions that propelled his career forward. For those looking to enhance their sales skills in market research, Richard’s journey offers valuable lessons.
Seizing Opportunities in Market Research
You look back and would like to think that everything was meticulously planned out and a very well-thought-through strategic decision. Sometimes life presents you with opportunities that you simply just need to grab.
I’ve been fortunate to be in the right place at the right time at certain junctures in my career to be able to capitalize on those opportunities. And, thankfully, I had other individuals and businesses that saw something in me, to also take a punt as well. I think there’s always a high degree of risk in any big decisions that are, in hindsight, key milestones in someone’s journey.
In my first role, as a research analyst, I was actually living in London and commuting to Luton, doing a four-hour round trip a day. I was extremely happy, had been well looked after, and was almost sort of mothered, as I was one of only two gentlemen in the business. It had a very caring environment, and I think that served me well in those formative years. I learned a huge amount in terms of technical skills and the practice of business and research. I also saw what a good culture could do in terms of encouragement and motivation, and understood very early on that sense of purpose and worth within a role, which takes a lot of people a long time to find – if they ever find it. I was very fortunate and grateful that I had that, and I think that served me well when I went to Ciao.
When I received the call to potentially join Ciao, I didn’t really know a huge amount about the traditional research industry. I had been applying a set of skills that market research would recognize, but I was in a world that, for me, was far removed from the one I was about to join – so the move was very risky. But the pitch intrigued me. It was an opportunity to get back into London and work centrally. It was an opportunity to work for a technology company that appeared to be pioneering, or trying to reimagine the way that data was being collected to serve the insight sector. And it was working for a German business that had, frankly, an extremely inspiring Co-Founder. The role would give me an opportunity to work very closely with one of the Co-Founders as the business looked to set up its London office. So, for all of those reasons, it just felt like an extremely exciting opportunity.
Building Sales Skills through Mentorship
Probably one of many forks in the road that I’ve navigated in my career was whether I stayed down the research analyst path, or pivoted into a commercial path. I decided to take the latter, as I felt that the fundamentals I’d learned in the consulting role would serve me well because, as time has shown, sales in market research is very consultative. It’s about really understanding customer needs and requirements, being able to translate and interpret those, and being very collaborative in problem-solving and unpicking challenges.
The move to Ciao would see me essentially becoming Sales Director and being the boots on the ground for the Munich HQ business. It entailed doing everything from setting up the limited company to finding a serviced office; starting with a phone and a phone book, and making calls to try and build a pipeline, a set of customers, and a revenue stream.
So, it was alien to what I’d been doing, but the thrill of the chase excited me. Leaning into something new and, dare I say, getting completely out of my comfort zone from where I’d been. But knowing I had this almost comfort blanket of the Co-Founder being based with me, that I could learn from. And actually, that individual is someone I would now deem a coach and mentor, and we’ve kept in touch ever since.
Embracing the Journey from Research to Sales
Richard’s transition from a research analyst into commercial roles, underscores the importance of developing strong analytical skills and good communication. For professionals navigating the complex landscape of market research, learning about customer needs and translating those into actionable insights is critical. Richard’s experience shows that taking calculated risks and stepping out of your comfort zone can lead to significant career growth.
For those looking to deepen their understanding of sales in market research, Richard’s story offers invaluable lessons on leveraging past experiences to succeed. The consultative nature of sales in this industry requires not just a deep knowledge of research, but also the ability to connect with clients and solve their problems effectively.
Watch the Full Interview.
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