What Is Syndicated Market Research?
Syndicated market research is where research is carried out by a market research firm and then sold to a number of clients who are interested in the same research topic. This results in pre-packaged and ready-made reports on industries, markets, and consumer behavior that can be cost-effective because the cost of research and data collection is borne by a number of companies. These reports are an exhaustive overview of the trends, challenges, and opportunities, and allow businesses to gain insights without conducting their own independent research.
What Is Syndicated Market Research?
Syndicated research is a collective process of gathering market data that has been collected by a research firm on its own and sold to different organizations. Unlike custom research aimed at one single client, in market research, the creation and distribution of data is realized by many buyers who all contribute to the costs of data collection and analysis.
A market research firm is an independent organization that makes an independent decision about a research topic, such as a particular industry or consumer group. It conducts the research using surveys/questionnaires and interviews/focus groups. After analyzing the findings, the firm compiles the findings into extensive syndicated market research reports that any company can purchase.
For startups, VCs, and small to medium-sized businesses, this strategy provides access to high-quality market intelligence at a fraction of the cost of custom research.
How Does Syndicated Research Function?
The process has a straightforward methodology:
- Topic Selection: A market research firm determines a research topic that is relevant to more than one industry or consumer segment.
- Data Collection: The firm conducts research through different methods, such as online surveys, interviews, and other methods, such as focus groups.
- Analysis & Compilation: After analyzing the data, the findings are finally organized in the form of comprehensive reports.
- Distribution: The report is made available for purchase by any company or independent individual interested in the report findings.
At Nexus Expert Research, this methodology is used to ensure that businesses are getting reliable and actionable insights without the need for primary research overheads.
Types of Research that are Syndicated
| Type | Description | Best For |
| Syndicated Panel Data | Data gathered from market research panels where participants take surveys and focus groups | Understanding consumer preferences |
| Industry Reports | Cover market size, growth trends, consumer behavior, and competitive landscapes | Benchmarking and market entry |
| Consumer Behavior Studies | Analyze purchase behaviors, brand preferences, and lifestyle attitudes | Marketing strategy development |
| Trend Analysis Reports | Provide insights into emerging market trends and disruptions | Strategic planning and forecasting |
Syndicated Research vs. Custom Research
Understanding the distinction between syndicated and custom market research can help decision-makers make choices that best serve their needs:
| Factor | Syndicated Research | Custom Research |
| Cost | Lower (shared among buyers) | Higher (funded by single client) |
| Customization | Pre-designed, limited flexibility | Fully tailored to specific needs |
| Turnaround Time | Immediate access to existing reports | Weeks to months for completion |
| Scope | Broad market coverage | Focused on specific questions |
| Data Ownership | Owned by research firm | Proprietary to the client |
Key Benefits of Syndicated Market Research
- Cost Efficiency: Syndicated research distributes costs among multiple purchasers, so it makes great quality market information inexpensive to startups and SMBs. This is a shared-cost model, and it allows expensive data to be accessed without breaking budgets.
- Broad Market Coverage: These reports cover a broad range of topics in industries from consumer goods to healthcare, providing a panoramic view of the market landscape. Businesses may compare performance to the industry standards and notice new opportunities that open up.
- Quick Access to Insights: Unlike customized studies that take months to coordinate, syndicated market research reports can be purchased instantly. This speed is critical in cases where a timely decision leads to a competitive advantage.
- Reliable, Standardized Data: Reputable research firms adopt standard methodologies with large sample sizes, are reliable, and credible. Decision-makers can count on the accuracy of insights for strategic planning.
- Competitive Benchmarking: Because the data is available to more than one company, businesses can compare their performance to industry norms and determine where they can make improvements.
When to Use Syndicated Research for Your Business?
Syndicated market research is perfect when:
- You need industry-wide information as opposed to niche-specific data.
- Budget restrictions limit custom research options.
- Timely intelligence of the market is necessary to make decisions quickly.
- You want to know what is happening at a macro level with your industry.
- Competitive benchmarking and brand positioning are priorities.
However, if the research that your business needs is particular (i.e., you need to know more about unique markets or proprietary consumer markets), custom research might be a better option.
Make Better Decisions through Expert Market Research
Whether you’re a startup getting initial insights into the market or a big-time business wanting to know what’s happening across your industry, there is a solution capable of providing you with the necessary intelligence without the prohibitive costs associated with custom research.
Ready to open up market actionable insights? Become strategic partners with Nexus Expert Research to gain access to comprehensive syndicated research reports to fuel data-driven decisions to accelerate your business growth.
