By many accounts, 2009 was a difficult year for market research professionals and the industry as a whole. In 2009, market research budgets were slashed by 12.5% from 2008 levels. Furthermore, 56% of research organizations laid off one or more employees as firms closely managed expense levels by reducing travel, conference attendance, marketing, raises, and bonuses. As in all down markets, some firms prosper. The objective of the 2010 Annual Survey of Market Research Professionals is to provide insights into shifting opinions, marketing budgets, compensation, supplier rankings, and other critical business dimensions. This report is a must have for anyone managing a market research department or company. It will reveal the winners, losers, and help you plan for 2010 particularly after one of the most challenging years in recent memory. Conducted between January 7 and January 26, 2010, 495 Market research professionals completed an online survey -- delivering a completion rate of 74.1% and a data tolerance of +/- 4.4%. The 2010 survey includes many questions from the 2009, 2008, 2007, and 2005 research initiatives -- providing a longitudinal perspective.
 2009 RecapAt the conclusion of 2009, 30% of all research organizations stated 2009 was a financially "fantastic" or "strong" year -- with 45% citing it was a "bad" or "terrible" year. 
Please refer to the report to understand the profiles of those organizations that had "strong" or "bad" 2009. Employed Survey MethodsDuring past five years, two clear trends have emerged involving the conduct of survey-based research. Online methods continue to drive toward full penetration while telephone-based surveys continue to decline. It is likely these divergent trends are driven by economics and ease of access to targeted respondents.  Market Research Supplier RankingsLike last year, we have expanded the number of market research suppliers that are evaluated by buyers of market research. Below are the firms that received a sufficient number of evaluations (N>10) in the 2010 Annual Survey of Market Research Professionals. The evaluations were performed using a five point Likert Scale (Extremely Satisied, Satisfied, Neither Satisfied nor Not Satisfied, Not Satisfied, Not At All Satisfied) among a supplier's customers. If your firm is listed, this year's report is a MUST purchase. All firms listed in alphabetical order by category.
2010 Market Research BudgetsAfter a dismal year of slashing market research budgets by 12.5% in 2009, buyers of market research expect to spend 1.1% more in 2010. Of course, variations exist across industries and key company demographics. In this turbulent time, this data is a "must have" for planning and resource allocation purposes. Attitudes Toward Market ResearchPerhaps due to the economic downturn, market research firms are increasingly viewed as partners -- with research viewed as essential to meeting 2010 objectives. This represents a significant reversal of attitudes in just a single year.  2010 CompensationOn average, market research professionals received a 2.0% raise in 2009 -- despite expectations for a modestly higher (2.4%) raise. Unfortunately, the economic climate continues to weigh heavily upon salaries, bonuses, and raises with 2010 compensation expectations close to those of 2009. In fact, 45% of all market research professionals do not expect a raise in 2010.  For detailed 2010 compensation statistics (salary, bonus and raise) by title, years of experience, and industry role, please refer to the in-depth report. Employment TrendsCurrently one out of six market research organizations expect to lay off one or more employees in 2010 -- down dramatically from 56% in 2009. Perhaps also indicating the "worst may be over," 43% of market research organizations expect to hire in 2010 -- up from 30% in 2009.  Offshoring Market ResearchWhile the percentage of firms that knowingly use offshored market research services remains relatively unchanged from the prior year, satisfaction with offshored market research services is showing signs of growing discontentment. 
To understand the shifting attitudes toward offshoring in the market research industry, intentions to offshore, and related trends, please refer to the in-depth report. Online Survey Cooperation and Completion RatesDespite the perception of online research as a valuable decision-making tool, research professionals are increasingly concerned about online survey cooperation rates -- which continues unabated since 2007. 
Researchers believe more engaging surveys are required to combat this critical yet growing industry problem. To understand additional contributing factors and potential solutions to reverse the trend of declining online survey cooperation and completion rates, please refer to the in-depth report. Detailed ReportThe complete, in-depth report provides additional analysis and quantitative data.
About MarketResearchCareersMarketResearchCareers is the career website with the most comprehensive database of resumes and jobs focusing exclusively on the Market Research industry Visited monthly by nearly half of all market research professionals in the United States and possessing the resumes of more than 30,000 market researchers, MarketResearchCareers is your market research staffing headquarters. See why so many corporate hiring managers, human resource professionals, market research suppliers, and thousands of skilled researchers turn to MarketResearchCareers to fill their market research jobs. Please contact Mike Carroll at 1-800-872-5401 or mcarroll@marketresearchcareers.com for permission to use these results. |
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