Outsource Market Research

Should I Conduct Market Research In-House or Use a Third-Party Company?

Take the short quiz below to find out if you should outsource your market research or keep it in-house.

The Choice is Yours
Oftentimes, choosing to do market research in-house is associated with cost savings but business people know this isn’t always the case. Expected cost savings is one of the most common reasons why organizations choose to do market research in-house rather than using a third-party market research firm. There are free market research tools, guides to conducting research, and tips from market research professionals available which can make it tempting to get the “do it yourself” (DIY) mentality.

Below are each of the statements and the reasoning behind it. Choose wisely.

“I want my research done quickly.”
Conducting research quickly takes years of learning skills and practice. If you want to follow market research best practices, skilled professionals will be able to create an effective methodology, draft the tool, conduct fieldwork, and write a report on an accelerated timeline. Wondering if your market research timeline is accelerated? Learn more about how much time is needed to complete various types of market research.

“I don’t want to affect my results with any known or unknown bias.”
Bias can strike based on how the question is written to knowing who is conducting the fieldwork for the study. In order to ensure bias has not infected your market research project, you need to assess the entire respondent experience from the invitation to participate in research to how questions are phrased.

“I’ve never conducted a market research project before”.
Never conducted market research before? You are in for a lot of fun (but we might be biased). While it might seem simple and straight-forward, there are many pieces of the market research process to think about. Learn more about the market research process.

“I don't have the time to conduct market research.”
Time is everything. If time is not on your side, whether you already have a busy schedule or you are trying to complete the market research in an aggressive timeline, you may need some help from market research professionals.

“I’m not sure how to conduct market research.”
This may be an obvious sign you need help conducting a market research project. If you’re unsure how the market research process works a market research company can guide you through the entire process or pieces you need guidance with.

“I’m unsure how to get started with the market research.”
One of the first jobs you'll have is determining what you want to learn and what you want to do with the market research. Your objectives will guide your decision-making and next steps with market research. Read these details if you are unsure where to get started with market research.

“I’m not sure what market research methodology best fits my needs.”
There are many market research methodologies to choose from and each has pros and cons. Wondering the pros and cons of the top market research methodologies? Here’s a compressive guide to top market research methodologies. Developing a market research methodology starts with choosing between quantitative market research and qualitative market research. Qualitative market research is used to explore, and quantitative market research is used to measure. Typically, qualitative market research is done before quantitative market research, but it all depends on the unique objectives of each study. Learn more about choosing a market research methodology.

“I’m unsure how to create the research tool (survey, moderator’s guide, etc.)”
While this might seem simple, a lot of experience is needed to create a best-in-class market research tool. A market research company will help discover the objectives of the study and develop a tool to gather the information needed.

“I’m not sure how the results of the research should be presented.”
This is another part of the market research process that takes a lot of experience. A market research report can vary from question-by-question results to a full report with a background and methodology, executive summary, recommendations, and more. Here are 6 quick tips for a better market research report.

“I don’t know if I can explain the results of the research to others.”
Again, this is a part of the market research process that can take years to become a pro. Explaining the results of a market research study can be difficult, especially if the study and results are complex. Here are 4 tips for a better market research report presentation.

"I don’t know what types of research tools are best for my needs."
New market research tools are always being developed. It seems as if there are always new survey platforms, CX capabilities, eye-tracking tools, analysis software, etc. A market research pro has likely used and/or demoed many of these tools and knows which are best for each unique study.

“I want someone with knowledge of market research to explain the results."
A market research pro explains the results of a study during a debrief meeting. These meetings typically last an hour with time for questions and answers throughout.