To busy government contractors, market research may seem like a trivial activity that can be pushed toward the bottom of their to-do list. Since it won't directly end in a contract award, it's not worth prioritizing, right? Wrong. Market research (often in the form of Requests for Information, or RFIs) is just as essential as Requests for Proposals (RFPs). Market research is generally used to build an RFP, so it's actually important to get your foot in the door early.
As a GSA Schedule contract holder, it’s important for you to have a better understanding of why the government collects market research and how this data shapes future purchasing decisions. Especially now that we're entering the federal government's Q4 in July. Here’s what you need to know about responding to RFIs and engaging with market research.
What is Government Market Research?
Market research is important for agencies to determine best value and see what solutions are available. Agencies are looking to meet their needs in the most efficient way possible, and through market research, they can identify what is available to them. Market research is often required by law as well, especially when it comes to determining the scope of the solicitation in terms of small business set-asides. Market research is used by government agencies
There are two main kinds of market research: Sources Sought Notices (SSNs) and RFIs. Sources Sought Notices is generally considered market research without the pricing and technical recommendations. RFIs include both of these things. So why are Sources Sought Notices even issued? Well, SSNs specialize in the need for for socio-economic vendors, or small business set-asides. RFIs can identify a possible vendor pool, but do not specialize in small businesses. They are more focused on whether a solution exists to meet their needs.
GSA also has specific Market Research survey system called Market Research as a Service (MRAS) that we'll dive into more below.
Why is Market Research Important?
As we've mentioned above, market research is just as important as responding to RFPs. Why? We have listed three reasons below:
1. Gain Knowledge About an Agency's Needs
Market research can be a conversation starter with an agency and helps you better understand the market. You’ll get a better idea of what the agency is looking for, and you’ll have a chance to share your solution and how it may help them achieve their goals. If this market research turns into an RFP then you'll be familiar with the agency's needs and you can fully write to their mission.
2. Shaping Future RFPs
By responding to market research, you have the possibility of shaping the future Request for Proposal (RFP), giving you a competitive advantage over other contractors. The information gathered during the market research process ultimately affects the acquisition strategy, requirements, evaluation factors, and terms and conditions to name a few.
3. Get Your Foot in the Door on Future Opportunities
Not only can your response shape future RFPs, but it allows you to get an agency's attention. Sending a cold email to an agency contact may prove to be fruitful, but responding to an active market research request is a great way to get on your soapbox and explain why your solutions would be the perfect fit for an agency's mission.
How Does GSA Conduct Market Research?
GSA has their own form of market research called Market Research as a Service or MRAS. GSA offers this services to federal, state, and local agencies, collecting data through RFIs, Sources Sought Notices, industry days, and advanced product research. The purpose of this is for agencies to see where their needs fit into GSA. The benefit for GSA Schedule holders? Only they can respond to these surveys, meaning outside contractors cannot contribute or help shape this research.
How to Find MRAS Surveys/RFIs
All MRAS surveys are posted on GSA’S eBuy site under Source Selection under the your Special Item Numbers (SINs). This means that you won’t see opportunities that aren't relevant to your offerings.
You’ll also periodically get notified of any MRAS surveys that are related to your SIN(s). These RFI request emails will be sent to the email address located in eLibrary, so it’s essential your email is current and up to date, and whoever is the main Point of Contact is frequently monitoring the emails.
Things to Keep in Mind About Your MRAS Response
GSA sends agency POC information to the email included in your original response 5-10 days after RFIs closes. If you still need the agency POC information, you will need to email GSA that you lost the email. Only vendors that respond to the RFI can be given the agency POC information.
GSA is unable to provide information regarding the expected acquisition strategy or expected RFP date. Please contact the agency POC for this information.
Lastly, no extensions will be granted. This is only market research and the MRAS surveys are meant to be streamlined, so, please respond with whatever information you have available by the due date.Tips for Responding to Market Research
After having a better understanding of what market research is and why it’s important to be involved as a contractor, here are some tips:
- Thoroughly review the scope description in the summary to make sure it pertains to you and you are tracking what the request entails. You’ll want to reference the language repeatedly in your response.
- Take note of and be sure to meet the due date for the responses, there is no room for late submissions. Early submissions (24-28 hours in advance) are encouraged.
- Be sure to download any requirements attachments such as the Performance Work Statement (PWS) or Statement of Work (SOW). It can be difficult to make sense of all the documents, so make sure you carefully review all the attachments.
- Some opportunities will include a section for an ‘optional capabilities statement’. This is a good place to include more information about relevant experience and let your company shine over the others. Just like optional extra credit, we suggest you turn this in.
Tips for Your Capabilities Statements
As mentioned above, you will be given an opportunity to include a capabilities statement in some RFIs/SSNs. This is a chance for you to give unique information about your company and explain how your solutions may fit their needs. Here are some tips to consider:
- Treat it like a cover letter for a job application. Keep it to one page and make sure it's tailored to each agency. You don't want to include a generic one on every response.
- Include relevant past performance that speaks to what the agency is looking to gain information on.
- Include differentiators. Why is your solution different from the competition?
- If it isn't a GSA MRAS response, include your GSA Schedule Holder logo. Show them you are a pre-vetted vendor.
- Include important company information such as your UEI, POCs, GSA Schedule number, etc.
For GSA eBuy Specific Responses
Here are some tips about capabilities statements in eBuy:
- You can provide a general capabilities statement first. This can be found in the “Company Information” section in the field “Capability Statement URL.”
- At the end of the survey, you can upload a more specific capabilities statement. Please note:
- Only one attachment can be uploaded, so please combine your files into one document. Capabilities statements should be no longer than 1 page anyway.
- Provide more information on any technical questions that you answered as “No”. This is your chance to give more context if your solution has capabilities that are unique but were not specifically listed in the survey.
- Be sure to elaborate on any additional open-ended questions that may be asked in the survey. Use this to help your company stand out.
- Please note that capabilities statements are optional documents but can be beneficial to submit.
Stay Updated On Future Government Contracting Opportunities
As a GSA contractor, it’s important you stay on top of government solicitations including market research, Requests for Proposals (RFPs), and Requests for Quotes (RFQs). We cannot stress enough how important it is to get involved in the solicitation process early and respond to RFIs and surveys that you are interested in pursuing in the future. This is your chance to tell the government about your products and services and how your company stands out among your competitors.
If you have questions about support with government contracting opportunities or about your GSA Schedule in general, please contact one of our consultants. They would be happy to steer you in the right direction and help you get the assistance you need.
