Market research or benchmark research: which fits you?

The difference in one paragraph

Market research maps the market: trends, target groups, competitors, opportunities. The result is one overall picture for the client. Benchmark research asks largely the same questions but reverses the outcome: every participant receives a personal report comparing their answers with the group. Market research delivers insight for you; benchmark research delivers insight for you and for every participant.

When market research is the right choice

Choose classic market research when you mainly need to underpin your own decision: entering a new market, pricing a proposition, targeting a campaign. Respondents are then a means to reach a reliable overall picture, and anonymity comes first. If your audience is consumers, market research is usually the more obvious choice as well.

When benchmark research delivers more

Choose benchmark research when the participants themselves matter to you: clients, prospects, members or relations. The personal report gives them a concrete reason to take part and a reason to talk with you. That is why benchmark research works so well for B2B organisations, industry associations and consulting firms: the study is a source of knowledge and a relationship instrument at the same time.

An added advantage: because participants get something in return, response is structurally higher than with a classic survey among the same audience.

It is often not either-or

In practice the two do not exclude each other. The same dataset gives you an overall picture of the market (market research) and personal reports per participant (benchmark). Many organisations publish the collective insights as a trend report or article, while the individual reports form the basis for conversations. That way one study delivers both kinds of value.

Three questions to decide

One: do you mainly want to learn something yourself, or do you also want to give something back to participants? Two: is your audience anonymous and large, or does it consist of recognisable organisations you have or want a relationship with? Three: is this a one-off measurement, or do you want to measure and compare periodically? The more often your answer falls in the second category, the better benchmark research fits you.