Introduction

Syndicated research can be a powerful tool for growing your brand. It allows you to get instant feedback from a wide range of consumers, who have different opinions about your product and industry.

In this article, we’ll cover the benefits of syndicated market research (pros and cons), as well as some examples from our own experience. We’ll also conclude by discussing how to use syndicated research effectively in your business.

 

What is Syndicated Research?

Syndicated Research, also known as Syndicated Market Research (SMR), is a form of market research that involves multiple companies working together to conduct a survey. This type of research is ideal for clients who are unable to conduct their surveys, but who need an objective, consistent approach to getting the information they need.

Syndicated research has become increasingly popular over the years as it provides researchers with a more efficient way to conduct studies. This method allows them to reach a broader audience and involve more people in their studies. The main advantage of syndicated research is that it allows researchers to work with many different sites simultaneously while still managing each site’s data separately.

The goal of syndicated research, however, is to create a larger sample size and increase response rates. This allows for more accurate results, but it also increases the cost of doing business.

When you hire a custom market researcher, you get someone who specializes in your industry and knows exactly what questions to ask about it so they can gather all the relevant information needed to answer those questions. This means that if you’re looking for information about new products from a shoe brand, you’ll be getting questions from someone who has experience with shoes and understands how shoes are made, which shoes are popular among which demographics, etc.

 

Syndicated Research vs. Custom Research

When you’re looking for information on a particular topic, which is the best way to get it?

Custom Research or Syndicated Research?

It can be a tough decision. Both methods have their pros and cons, but which one will work best for your business? Let’s take a look at what they are and how they compare.

 

Custom Research

Custom research involves gathering data from people who know your market intimately. This means that you’ll have access to more accurate data than you would with syndicated research, which is collected from people who don’t know your market as well. You can ask them questions about how they use products like yours in their day-to-day lives, or even just ask them if they know any friends who use them. This will give you more accurate results than syndicated research because it’s less likely to be skewed by consumers who don’t use the products you’re researching. The downside of this method is that it takes time and effort because you’ll have to find people who are willing to speak about their experiences with your product or service and talk about what works for them (or doesn’t).

 

Syndicated Research

Syndicated research is a great way to get your products in front of a lot of potential customers. It’s also a fairly common form of marketing, so it’s important to know what you’re getting into when you decide to use it.

This is why Syndicated research is a great way to get your business the necessary information. It’s a lot like custom research, but with one key difference: you can select which companies and categories you want to work with and how much you want each of them to pay.

Benefits of Syndicated Market Research (Pros and Cons)

Syndicated research is a type of market research that includes several different companies conducting the same research. This allows you to get a better view of the market and see what other companies are doing.

When a company is looking to do syndicated research, they don’t want to spend a lot of time on the process. They want to get their answers as fast as possible and move on with their day. The benefits of syndicated research include:

The benefits of syndicated research include:

• Cost savings: The price for this type of research is usually lower than individual research projects because it takes advantage of economies of scale.
• Diversity: It is difficult for one researcher to cover all aspects of a market. A team approach allows them to cover more ground, which can increase their accuracy and will enable them to make more informed decisions about their product or service offerings.
• Less time spent on research: If you have multiple sources conducting syndicated research on your behalf, then there will be less time spent researching each source’s findings and information. You will also spend less time evaluating each source’s data collection methods and results-an important part of any business decision process.

Cons:

• The results from syndicated research can be less accurate than those from other types of research because they are based on a sample size that is too small.

 

Pros of Syndicated Research 

• You’re able to choose exactly who to work with, which will help your brand or product stand out from the crowd.
• If there are any issues or concerns, they may be fixed before the research is published publicly, ensuring that your brand gets the best possible results.
• It’s easier to find your target market.
• The researcher only needs to combine the data from different firms, which makes it easier to do than other forms of research.
• If you have access to multiple sources of data, you can get your report out faster than if you were working with one source.
• It costs less money per report than other forms of research because there are fewer people involved in creating it.
• You can make sure the information you’re getting is reliable.
• You can get more accurate data than if you did custom research.

 

Cons of Syndicated Research 

• This process can take longer than custom research. It’s not uncommon for syndicated researchers to spend weeks getting their data ready before it’s published online or in their newsletters, so if you need something right now, this may not be for you.
• You have less control over what questions you ask and how you word them.
• You have less control over who you talk to and how they answer your questions.
• It can be much more expensive than custom research. So if you don’t have a large budget, it may not be worth it.
• Respondents may not be representative of the general population because they are being paid by a company or organization that owns their data.
• Not all respondents will answer all questions, so you won’t get an accurate picture.

Syndicated Research Examples

1. MRI’s National Study: MRI’s National Study, which was conducted in 9 cities, is one of the most popular syndicated research examples because it was conducted on a national level. The purpose of this study was to identify the main consumer challenges faced by consumers who were interested in purchasing an MRI machine. The study was conducted over three weeks and involved more than 2,000 participants with an average age of 40 years old. The results of this study were published in the Journal of Magnetic Resonance Imaging in 2010.
2. Simmons’ National Consumer Survey: Simmons’ National Consumer Survey is another example of popular syndicated research because it was conducted on a national level and involved more than 1 million American consumers over the age of 18 years old. The purpose of this survey was to determine how well people understand their options when it comes to buying certain products such as cars and clothing items. The survey included questions regarding gender, age group, and income level among others. It also offered respondents a chance to win prizes if they answered all questions correctly within 10 minutes. In 2021, Simmons conducted a national consumer survey to see what people think of the brand and their experience with it. The study found that when people think about the brand, they tend to focus on the product but also on the experience of being around other people who use it. The survey found that consumers are looking for a brand that will make them feel good about themselves and have fun with it.

 

Conclusion

Syndicated research is a great way to get your foot in the door with a new client, or even with a new project. When you do it as part of a team, it can be a lot more fun and engaging than doing it on your own.

However, syndicated research has its downsides and you should put the downsides into consideration before embarking on this form of research.