The world’s first online marketplace for the research industry has been set up by Richard Waring, the former managing director of Millward Brown in Ireland and Dan McGuinness, the founder of the Dublin-based Catalyst Marketing.
ResearchExchange.com aims to connect buyers and suppliers of market research. Research buyers can use the platform for free to source suppliers, and to build bespoke research briefs using tools provided. Suppliers only pay when they receive an invitation to tender which they wish to accept – they then receive the full details of the brief and the opportunity to pitch. The cost to pitch is determined by the buyer’s estimated budget range.
The new platform has just come out of beta- has already signed up more than 500 research suppliers, as well as a host of big-name buyers including Groupon, Novartis and Pernod Ricard.
The platform significantly cuts the time and cost that both buyers and suppliers spend sourcing each other, enabling them to connect on the right kind of briefs at the right time, providing an economic boost for the market research industry.
According to Richard Waring, co-founder and CEO of ResearchExchange.com: “We have created a platform that truly connects the brilliance within the industry, and we’re delighted to already have such a healthy network of companies registered with us. We have had a number of research briefs go live and reach completion during the soft launch period, so we’re excited to see this momentum continue to grow.”
Andrew Barling, Senior International Market Researcher at Groupon, adds: “ResearchExchange.com is already establishing itself as a valuable resource to brands looking to commission research, as well as suppliers pitching for work. Like many other sectors, the research industry will continue to become ever-more digitised, so it’s impressive to see ResearchExchange.com leading innovative change that will benefit buyers and suppliers of market research.”