When it comes to carrying out research, there are two options available to gather responses such as outsourcing to a research firm or hiring and managing your market research panel.
Having your market research panel enables people to have a conversation with customers regularly. This helps companies get insights about their customers and ways to make amendments and enhancements they wish.
Managing market research provides you greater control over the research, and quicker data and insights. Keep reading this article for learning how to engage survey panelists.
In what ways does the management of the panel help you?
Management of market research panel serve you the following benefits:
- Do more research quickly with the help of a group of respondents that are willing to participate
- Increase response rates
- Build deeper insights to target the right group of people with the relevant study
- Manage the panel on your own lower the research cost as you do not need to pay the expensive fees charged by the agency.
How does an outsourcing market research firm help?
An outsourced market research agency brings in expertise to ensure you have the right sample size, and questions to obtain the data needed to perform the research.
OvationMR is a leading provider of 1st-party data to management consultants and market research professionals that seek solutions requiring information to make informed business decisions.
The firm has been consistently offering valuable insights and credible outcomes across several industry sectors throughout the globe.
Best Practices To Self Manage A Panel
Here are best practices that help you succeed in the management of a market panel:
Determine your size of online panel
Find out how many people need to be recruited to the panel. Also consider your ideal sample size, geographic quotas, response rate, and studies to conduct to get a good sample from different demographic profiles and regions to beneficial insights.
Recruit your panel
A business can draw participants from an entire e range of channels that includes:
- Website recruitment
- Social media
- Customer email database
- Point of sale
Look at advertising, affiliate networks, and lead generation networks to draw in a broader range of participants.
Have a friendly connection with panel members
Your panel members can provide valuable insight into the company as well as product decisions. A business should connect with people on a friendly level. Having the mindset will make sure that the panel members feel important.
Have an authentic communication
If you want more response from people, your survey mustn’t sound automated. Be interested in your audience and their opinion to create an impactful survey to gain desired results.
Make the survey easy for participants
Another important thing that a business should keep in mind is to make the survey easier and quick for the respondents. Also, keep the surveys short. Sending the survey via an intelligent email could help in making the survey easier for the panel participants.
The primary challenge to manage a dedicated panel is to know ways to keep panel members engaged. A high-end panel management solution makes life easier for the panel manager. Incorporate the above practices to manage your online survey panel effectively.