Why Outsourcing Works for Analyst Firms, Consultancies and Market Research Companies
Outsourcing can increase your profits, reduce your costs, and expand your reach. Finding an outsourcing company which shares your values can transform your business. There are many good reasons to outsource research, here are just five.
1) Outsourcing Research lets you fly through the busy times
Your client has just greenlit a huge international market study involving primary research, analysis and a final report. There was a 50:50 chance you would get it so you didn’t really go through the details of who would do what in your team.
Time is ticking and you need to deliver. Outsourcing to an expert partner will enable you to fulfil inevitable spikes in your pipeline.
Growth is not linear. The most successful companies can make the most of opportunities by quickly expanding capacity to meet demand.
2) During Downturns, Outsourcing Helps You Manage the End of the Tail
Whatever subject you are covering you will inevitably face highs and lows. Technology disrupts every aspect of businesses and your consultancy company is no exception. When interest in one of your advisory services starts to wane, you will be left with fewer clients and unjustifiable headcounts.
Building a relationship with an outsourcing research partner enables you to keep delivering less critical - yet still profitable - research services whilst reallocating internal resources to growth areas. Think of your annual or bi-annual client engagements. Do you still need dedicated permanent staff to deliver them?
3) Think Big
Your salespeople are highly successful at bringing in new clients. However, they keep promising projects that are hard to deliver with your existing team.
Working with an outsourcing partner for research, market data analysis and report-compiling expands your capacity and speeds up your sales pipeline. A successful outsourcing partner will blur the line between provider and colleague, allowing you to think of your company as a much larger organization.
4) You’re Not Such an Expert!
A big percentage of your workload does not require specific expertise but a general knowledge of core technologies, distribution, vendor strategy, market trends and yes... lots of common sense.
5) Reach New Markets and Expand your business
To really understand a market you need to speak the language.
When you talk to contacts in their native languages you get better information, better relationships and better research.
It’s hard to find talented multilingual researchers, and expensive to maintain a year-round multilingual team. Much better to use trusted partners as and when you need them.
Outsourcing your research lets you expand your offer, without expanding your headcount.
Talk to us to find out how we can help you.