How To Effectively Outsource Market Research

Market research professionals are big on outsourcing their primary research. Unfortunately, the research vendor market is not efficient. It lacks both universally accepted measurements of quality for vendors and comprehensive lists of qualified vendors. This makes finding an appropriate partner and structuring an engagement successfully a risky challenge for market research professionals. Forrester interviewed 16 market intelligence buyers and three market research vendor executives to understand how best to ensure successful engagements when outsourcing. A common theme for those who experience consistent success is an effective and detailed communication of needs from the buyer. One key way to tilt the board in your favor is to use a detailed request for proposal (RFP) process to ensure that your needs are conveyed and that vendors make specific commitments to meet them. Forrester details the elements of a successful market research RFP and the role each element plays in ensuring successful engagements.