Benefits of outsourcing market research for your business
Market research is one of the most effective tools to ensure business success. Sooner or later all companies aiming for growth face the dilemma of outsourcing market research. Our team of experts with a track record in consumer and category research argues that outsourcing to a market research agency increases the efficiency of the company by focusing on core business processes.
Here are 4 reasons why.
1. Greater objectivity and diversity
The number 1 reason we hear for wanting to keep the research ‘in house’ is ‘Our employees understand the brand better than anyone else’. This is true, but it can often lead to steering the conversation because the moderator knows too much. Our team believes the consumer is the expert, but in this case the moderator would be the expert. You need to have an unbiased approach.
2. Boost research credibility
An unbiased approach is particularly important when it comes to verifying the results of the company’s previous projects and measuring their effectiveness. Rarely does the company properly evaluate its effectiveness because of the employees’ established perception of a brand and its positioning. The same applies to advertising campaigns - neither the client nor the creative team who developed the concept can abstract from their initial interest in a project.
3. Improved quality
Traditionally, every market research project was a Focus Group. Those days are gone. Each project is bespoke and the objectives determine the methodology. If research is handled internally, they’re most likely not going to have the bandwidth to explore other research methodologies, e.g., mobile diaries, in-home, discussion boards, shopping excursions, etc. You must get the methodology right in order to get the quality of insights.
4. Reduced costs
We work with a lot of start-ups and there’s a perception that they’ll save money if they do it ‘in house’. In reality, if you’re not able to have an unbiased approach to the research the insights will be wrong and you’ll end up spending more money trying to fix the problem down the line.
At RemCal Insights, we’ve adapted our research approach to save you time without sacrificing the quality of work.
What have been your biggest frustrations in the market research world? Let’s solve them!