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.
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.
As we've mentioned above, market research is just as important as responding to RFPs. Why? We have listed three reasons below:
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.
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.
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.
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.
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.
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.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:
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:
Here are some tips about capabilities statements in eBuy:
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.