If you’re involved in federal contracting, you may be aware that federal agencies are required to conduct market research for most acquisitions. What you may not be aware of is how contractors can use this market research process to their own benefit. In this blog, we’ll focus specifically on the GSA’s Market Research as a Service (MRAS) and how contractors can take advantage of it.
Market Research as a Service (MRAS) is a service GSA offers to federal, state, and local agencies. MRAS collects data through Requests for Information (RFIs), Sources Sought, industry days, and advanced product research in order to help federal agencies understand where their needs fit in GSA.
Agencies can choose to request either a Rapid Review, Product Market Research, or RFI with Market Research Report. Rapid Reviews involve the MRAS team working with an agency to determine potential GSA solutions that may be compatible with an upcoming requirement, based on a brief review of the Statement of Work (SOW).
Product Market Research produces a comprehensive report of all GSA contractors that can provide the items an agency requests. The report includes pricing, product availability, delivery times, socioeconomic information, and the lowest price found for each product, as well as the most common unit of issue for each product and a listing of providers that can provide 40% and 65% of the products.
RFIs with Market Research Reports require a slightly more involved process, and take a bit more time. Agencies provide information to the MRAS team, who will then draft a custom RFI. Once the agency approves the RFI, it will be posted on GSA eBuy to receive responses. After the RFI closes, MRAS provides the agency with a market research report designed to show how the GSA market can meet the agency’s specific needs. The report contains socio-economic, technical, capabilities, and other business information so that agencies are able to fully plan their acquisition strategy.
You may be wondering, what makes MRAS different from traditional market research? The first difference is that MRAS is performed by the GSA Customer Service Agency on behalf of an agency, instead of the agency doing their own market research.
The second difference is that the GSA is using Robotic Process Automation (RPA) to conduct MRAS. Instead of manually combing through hundreds or thousands of potential contractors, MRAS is able to use RPA to automatically sort through and find the most qualified options.
The third difference (and the one most important to GSA contractors) is that MRAS narrows the field by only considering GSA contractors who have the appropriate Special Item Numbers (SINs). RFIs or Sources Sought are not made available to the general public, making this an excellent opportunity for GSA contractors who are aware of it.
Interestingly enough, the reason MRAS was created was to help ease the burden of market research for government agencies in order to drive more business through GSA. However, this ends up benefiting contractors as well, as it makes it easier for agencies to do more business, meaning more opportunities for contractors. Additionally, MRAS provides a way for contractors to showcase their offerings to potential customers. When you participate in MRAS, even if you aren’t selected for the final acquisition, you’ve still gotten a chance to show that agency what your capabilities are—and they may keep you in mind for future acquisitions.
Contractors who participate in MRAS will also receive contact information for the agency as well as the GSA Customer Service Director, so they can reach out regarding the acquisition. MRAS can essentially function as free advertising for contractors who know how to take advantage of it.
So, what can contractors do to take advantage of MRAS? The most important thing for you to do is to make sure all of your offerings and company information are complete, accurate, and up to date. MRAS only targets contractors who are eligible for the potential acquisition based on their offerings, so having updated and correct offerings is critical for contractors to ensure they aren’t missing out on opportunities.
When reviewing your offerings, it is important to consider all the various databases the government uses to gather information about potential contractors. This includes GSA eLibrary, SAM.gov, and GSA Advantage, among others. By periodically removing old products and services and adding new ones, contractors can position themselves to be looked at for all opportunities for which they are eligible.
If you’re looking for more ways to take advantage of MRAS, or need help with your GSA Schedule, don’t hesitate to reach out to us. Our experienced team of consultants will be happy to help. If you want to learn more about market research, check out these blogs: