Market research company at the forefront of technological advance
Offering bespoke research for market studies and consultancy reports, IMS Research (now part of IHS Inc) publishes 350 reports every year and operates across 70 countries worldwide.
Formed in 1989, the company works mainly in the technology and media sectors. Originally focused on the semiconductor market, it now works with clients across multiple sectors, including electronics, automotive, industrial, medical and security.
In 2012, it was bought by IHS, bringing new investment and accelerating growth. IMS Research visited the US with the help of UKTI to meet six major companies within the Mobile Radio Group, and to attend the International Wireless Communications Exhibition.
Today, exports account for around half of the company’s business. With hopes of expanding to the Far East and deeper into Asia, the company’s future is firmly invested in international trade.
We spoke to Associate Director Thomas Lynch to find out more.
When did IMS Research start to export?
We’ve been exporting for years. As the company grew, so did our reputation in the market research sector around the world.
These days, we don’t have to market ourselves, as clients come to us, but UKTI helped us create a more structured approach to exporting. They have great access to global markets that we could not do without.
How did you find out about UKTI?
I had worked with UKTI before in a previous position. With IMS Research, it was obvious we should definitely use UKTI as I had seen the success UKTI helped to bring before.
What UKTI services have you used?
We have made use of UKTI’s wide range of services. So far, we have used Passport to Export, Export Marketing Research Scheme, Tradeshow Access Programme funding to visit the TETRA World Congress in Hungary, and Market Visit Support to China and Dubai.
Company name: IMS Research (now part of IHS Inc)
How did you go about selecting which countries to target?
We always base our target markets on GDP forecasting, technological developments and communications. It’s all dependent on whether or not there is a market there for the products, but we have found that demand of products and services globally doesn’t vary too much. Whether we offer market intelligence services or consultancy, demand is similar to here in the UK.
What was your first export sale?
America was our first major success story, working with a multi million pound product development company. In the research and consultancy sectors, confidentiality is a massive issue, so we would never work with competitors and credibility is vital to retain integrity in our industry.
How do you deal with confidentiality issues?
We don’t have any problems keeping the information safe. We have IP mechanisms and copyright laws for problems like that.
The good thing about the services industry is that clients have access to the same software we do. Everything can be distributed digitally, but safely.
What did you learn from UKTI?
We gained a good knowledge of growth markets suited to our UK based company and culture. UKTI offered fantastic in-house support during events too.
We learned that you have to be proactive. UKTI helped us create a business strategy for export success, but you need to work hard for it. We have definitely grown since working with UKTI.
If you are interested in developing your business overseas please contact your local International Trade Advisor.