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Market Research Budgets PDF Print E-mail
Written by Matthew Santo   
29 Apr 2009

We all know this time of year, and the questions that looms above us…What are next years marketing and research budgets going to be like?  Bigger?  Smaller?  How much smaller?

Right now the global economy is suffering and we all need to be ready for the effects as they ripple through next year’s budgets. 

Regardless of the answers that come to light, there is never a bad time for companies to consider ways to streamline themselves and deliver better value to their clients…it’s that right now is an especially good time! 

One great option to consider for raising efficiency and improving your fiscal position is to focus on your core expertise and outsource other parts of the research process.  In today’s market research environment it is clear that to be competitive you need to give end clients real insights, not just bar charts and bland tables. 

One problem preventing higher levels of consultation is that your staff could be bogged-down in the detail of overseeing programming and translations, field management, and data processing. 

Remember: focus on your core expertise. 

Outsourcing could be a great fit for your company.  Maybe you’ve vaguely thought about the possibility, but you haven’t really weighed the pros and cons.  Here are some key areas to consider:

1) Expand your hours of operation.  Many MR Service bureaus staff multiple shifts and even weekend shifts.  Your programming will be done in record speed especially when you consider the benefits of different time zones – programming is being done overseas while you sleep.  And for those vital hours of data collection during high traffic weekends you can have 24hr field coverage to maximize sample and more quickly fill quotas.

2) Reduce staff utilization fluctuations.  As with many industries there are extremely busy times, somewhat busy times and times when the workload is scarce.  To avoid being overstaffed during the slow periods, or understaffed during the hot times, the perfect solution is to be engaged with an outside MR Service bureau.  Your in-house researchers will be consistently utilized and they’ll always have the proper support level to deliver exceptional work to the end-client.

3) Reduce costs.  Why pay for software, servers, licenses and other technology costs when someone else can.  All of these mentioned items are the core of a Service bureau’s business – let them worry about it.  Additionally, when outsourcing, your only costs are their fees and your internal employee costs will be significantly reduced.

4) Focus on insights.  Outsourcing means your company spends less time on daily process tasks, and instead has much more time to provide clients with valuable insights and recommendations.  End clients have made it clear, straight reporting is not enough to fully meet their needs or exceed expectations. 

Outsourcing to a MR Service bureau is not for all companies.  Some of the biggest players in the industry have committed extensive resources to build their own operational offices domestically and internationally.  But, for those companies that are flexible enough, committed enough, fiscally savvy, and are looking for a way to focus more attention on their clients, outsourcing and its benefits are impossible to ignore.

About Net-SB, Ltd

Find Net-SB at www.net-sb.com .  Net-SB is a market research service bureau located in the sophisticated and bustling capital city of Sofia, Bulgaria.  Net-SB is your global partner for survey programming, be it online, CAPI or CATI, field management, translation management, and data delivery.  Net-SB’s client base and project experience is diverse and cross-continental.  We are open 24x7 and our team of seasoned professionals is always here to deliver on our key promise of “Service Without Parallel”

In additional to its global services Net-SB also actively maintains an online panel of Bulgarian general consumers.  Panel profile data can be found online in the website.  For any RFP’s or questions don’t hesitate to contact Net-SB at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

 

 

 

Last Updated ( 03 Feb 2014 )
 
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