A guide to market research – DIY or outsource to a specialist agency?

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Company budgets are always under review and managers are always under pressure to make savings, so when it comes to market research is this something that can be carried out by your own internal resource, or do you need a market research agency that specialises in this discipline to deliver this for you?

There are times when research does lend itself to being carried out externally and times when this can be carried out well internally. However, organisations do have to be careful that in their efforts to save money, it doesn’t cost the business money in the long run! Poorly constructed research can also have an impact on the public’s perception of your business, as research is another form of engagement and will leave a lasting impression on your customers and stakeholders.

Before deciding which way to go, there are a number of important factors which should be considered:

  1. In-house capability

You may not think it takes a genius to construct a survey, however experience alongside strategic and logical thinking are required in order to get the most from any research. A strategic mindset will help establish what you are trying to achieve from your survey, while logic is needed to map out the questionnaire journey, question type and determine if the outputs will meet your objectives. This may sound obvious, however it’s amazing how many surveys end up going out the door, yet the results don’t meet the initial research objectives!

A quick short online survey for example can usually be constructed by someone internally and is generally more cost effective to do so, using the various tools that are available across the internet. However, for more complex work which has high importance for your business, think carefully before using anyone who hasn’t got the experience to do this.

  1. In-house resource

If you require a methodology that involves 1,100 completed on-street or telephone surveys then carrying this out internally usually isn’t an option! This is obvious to outsource due to the number of fieldworkers that would be required and the technical capability required for telephone interviewing, such as call recording.

There are methodologies that in theory could be delivered by an internal team, such as focus groups. However it is vital that the team is proficient in focus group moderation, discussion guide creation and thematic analysis. There should also be enough moderators to handle a number of groups to be representative of the base that you are researching.

The administration and organisation of a focus group should not be overlooked.  As part of a package that a research agency offers, the administration and logistics of recruitment and session organisation are also included – this is time consuming and well thought through in terms of ideal venues, room sizes, location, equipment and so forth.  Therefore if your organisation does not have the resource to do this, then this is also an added value benefit.

  1. Market Research Society (MRS) guidelines

Most research agencies are MRS partners or members and will adhere to the guidelines set out by the MRS. These are professional standards which are put in place to ensure that research is delivered to the highest standard in terms of ethical practices, commercial value and reliability.

Research agencies often send their staff on Market Research Society courses to enhance their professional development, so that they bring more to their clients in terms of innovation and best practice.

  1. Independent research

When outsourcing to a research agency, bias is less of a concern than it would be if it was carried out by an internal team or person. Research by a third party will be carried out and delivered independently, which will impact on respondents’ openness to questions during fieldwork.

Concern of a biased approach to analysis and delivery of results is also removed when outsourcing to a specialist agency, as there is no danger of political agenda or emotional attachment to the outputs.

  1. Quality and reliability

Depending on resource available and the capability of staff within the organisation, quality and reliability of findings should be considered. You may have a team of highly trained and experienced market research specialists, however if you don’t these factors may be at risk. The importance and influence of the outputs and complexity of the research will provide a good indication as to whether your project should be outsourced to an agency who can guarantee high quality work and robust results.

Consider your options carefully, weigh up the risks and if you believe research is worth doing – it’s worth doing correctly.

Contact us today to find out more about the research and engagement solutions we offer at Explain.

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Author: explainmarketresearch

We are a market research agency that has delivered high quality and reliable insight to our customers across three decades. From utilities to financial services, and social housing to healthcare, we continue to help our customers identify areas where they can make a positive impact on their business.

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