Navigating the business world requires understanding market dynamics and consumer behavior. Companies rely on market research to gather data for strategic planning, product development, and competitive analysis. This information acts as a guide, helping organizations make sound decisions based on evidence rather than intuition alone.
What Is Syndicated Research
Syndicated research is conducted and funded by a market research firm, not for a single client, but for multiple buyers. These firms leverage their industry expertise to identify topics of broad interest, such as market trends, consumer habits, or competitive landscapes. They independently design the study, determine the methodology, and collect the data before making the findings available for purchase.
The resulting reports and data sets offer a wide-angle view of a particular market or industry. Because the research firm initiates and pays for the study, it retains ownership of the data. The information provided is general, aiming to cover key issues and trends affecting an entire industry rather than the specific concerns of one organization.
Syndicated vs. Custom Research
The primary distinction between syndicated and custom research lies in who commissions the study and who owns the resulting data. Syndicated research is sold to many clients, while custom research is commissioned by a single company to address its unique questions and business objectives. This means the client funds the entire project and gains exclusive ownership of the data.
Another key difference is the scope of the research. Syndicated studies are designed to be broad, providing a comprehensive overview of an entire market. Custom research, however, is highly specific and tailored to the commissioning client’s particular needs.
The research process itself also differs. In a custom project, the methodology and questions are developed in close collaboration with the client to ensure the study provides precise answers to their confidential questions.
Advantages of Syndicated Research
One benefit of syndicated research is its cost-effectiveness. Because the research is funded by the firm and sold to multiple clients, the costs are distributed among all buyers. This shared model makes it substantially more affordable than a custom study, allowing businesses with smaller budgets to access high-quality market data.
Speed is another advantage. The data in syndicated research reports is pre-collected and readily available for purchase. This allows companies to acquire information quickly, without the lengthy process of designing and executing a custom research project.
Syndicated research also provides a tool for competitive benchmarking. Since the data covers broad industry trends, it allows a company to compare its performance against industry averages and key players.
Disadvantages of Syndicated Research
A primary drawback of syndicated research is that the data may not be specific enough to address a company’s unique questions. Since the studies are designed to serve a wide audience, the insights are broad and may not provide the granular detail needed for targeted strategic decisions. This can leave a company with a general market overview but without clear answers to its particular challenges.
Another consideration is that competitors have access to the exact same information. Because syndicated reports are sold to any interested party within an industry, the insights do not offer a competitive edge.
Finally, the information might not be as current as a custom study. There can be a lag between when the data is collected and when it becomes available for purchase. For fast-moving industries, this delay can render the data less effective for making immediate decisions.
Common Providers and Examples
Several well-known firms specialize in producing and selling syndicated research across various industries.
- NielsenIQ is a global consumer intelligence company that provides comprehensive data on consumer purchasing habits and market trends.
- Gartner is a research and advisory firm that offers insights primarily focused on technology and business strategy for a wide range of corporate and government clients.
- Forrester is an influential research and advisory firm that helps business and technology leaders develop strategies centered on customer obsession to drive growth.
- Mintel is a market intelligence agency that provides detailed reports and analysis on consumer markets, products, and competitive landscapes.