Trends Within Market Research That Influences Outsourcing

Offshore outsourcing of market research operations has become an accepted way of doing business.

A number of statistics support the fact that market research operations are being outsourced to specialist companies around the globe. Almost all large research companies and many mid-size to smaller offline or online market research firms are outsourcing an increasing proportion of their research operations.

By all indications, this trend is only going to grow in the coming years. Everyone involved in the outsourcing of market research operations has realized that sending work to a distant location is not same as working with your data processing or survey scripting staff sitting in the next office or down the hall. The people who understand this best and embrace this shift are most likely to succeed in our world where globalization and disaggregation of services is simply how business gets done. The ultimate goal of any market research outsourcing relationship is a win-win-win. That means a win for the end client commissioning the research, a win for the research supplier, and a win for the outsourcing organization. Anything less than a win-win-win is a suboptimal result, and is not a sustainable way to do business.

Here are a few Market Research trends influencing outsourcing:

1.Disaggregation of market research services is going to increase: We are going to see continued specialization in research design and insight providers, sampling companies, software providers, operations providers, visualization specialists, etc. Corporate clients are increasingly pulling in the best talent and the best cost model. This generally involves disaggregation of tasks and specialization of research providers. As NY Times columnist and Pulitzer Prize winning author Thomas Friedman states, The best companies are the best collaborators. In the flat world, more and more business will be done through collaborations within and between companies for a very simple reason: The next layers of value creation are becoming so complex that no single firm or department is going to be able to master them alone. This observation could not be truer for the market research industry.

2.The outsourcing model is here to stay: At a time when research budgets are tight and the industry is going through its first reversal of growth in over two decades, outsourcing is something that will save you. Our existing relationships, by and large, are growing and new demand for outsourcing services has never been higher. There is material value offered by outsourcing and this model has been validated over and over again. The breadth of services offered by market research outsourcers is growing. In the past year alone, companies have fielded over 1.5 million surveys across 50+ countries and 25 languages, built a practice in data visualization, mined hundreds of thousands of blogs, analyzed and reported on millions of pieces of data, and launched and sold global panels. All of this has been delivered through a global delivery model. This certainly would not have been possible if the outsourcing model did not have legs for the long term. The companies who embrace this model effectively will be the most succesful players in the increasingly complex and global economy of the next decade

3.The cost savings and capacity increases are real and material: Market Research companies are finding real benefit from outsourcing in terms of both cost savings and increasing their capacity and offerings. In some cases, our clients have seen up to 60-70% in savings from outsourcing their work. In other cases, the savings are lower, but still very significant. As research companies face increasing pressure from corporate belt-tightening and reduced budgets, outsourcing their operations is one way they can stay competitive. Corporate clients, in many cases, are seeking out outsourcing companies either to work with them directly or to have them partner with their US-based research design and analysis firms.

by: Kumar Mehta

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