As a professional in the market research and competitive intelligence industry, there have been many occasions where I would go looking for information requested by a client only to find that it is just not there. In most cases, the request is simply too specific for syndicated research to handle, but sometimes it's more surprising than that. Sometimes, whole industries are not well represented and that can be more puzzling. So, here is a brief list of common reasons you just can’t find syndicated reports about what you are looking for.
- It’s too new. In order for a market report to be written on a given subject, the product or service would have to exist for at least a full year just to get enough metrics for a current market sizing. Even with one year, there would be no market trending to report and only the educated speculation of the writer to guide you for future projections. For that reason, it is less common to find reports on industries around for less than two years.
- It’s too established. There are industries that have been around for a very long time AND have little change or advancement in the product or service. That is not to say every older industry will not have reports. The light bulb industry had been around for a very long time, but new technologies for lighting keep it a constantly fresh market.
- No industry expertise. In many advancing, but niche, markets, finding someone qualified to write a report can be challenging. Finding a person who is the right mix of writer and industry expert can be even more challenging then it may appear.
- It’s too specialized. Sometimes, the issue is just about money. Syndicated research reports are most often not being funded by an organization that has requested the report. They are often the product of a publisher that is evaluating what coverage the market wants. So, these publishers spend a significant amount of money researching the report, and they have to know that they will at least be able to recoup their expenses. This leaves interesting, but very niche, subjects in danger of being pushed aside due to concerns about how many people will have enough need to purchase the report. It is also the reason why you will sometimes see the information you are looking for in a report with 6 other related things.
As you can see, there are many reasons why a report you may be looking for is not available in syndicated research. When this happens, it is always possible that your question could be answered by our custom research team if you have the budget and the time necessary to complete a project of this nature. Your research specialist should be able to help you determine if this would be a good route for you to take.
For more information on using market research within your organization, download our free eBook, How to Succeed Using Market Research.
Thanks for reading!