Custom Panels for Market Research

Post on 30-Oct-2014

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Decipher custom panels are your fast, flexible low-cost research tool for delivering powerful business insights. Your custom panel is a proprietary, targeted sample of customers or prospects that you can access 24/7 to receive valuable feedback on a regular basis, enhancing your marketing programs and strengthening customer and constituent relationships.

Transcript of Custom Panels for Market Research

WHY DO PEOPLECARE SO MUCH ABOUT CELEBRITIES?

WE’RE JUST AS CURIOUSABOUT HUMAN BEHAVIORAS YOU ARE.

OUR DATA

2000 The year Decipher was founded

25 Years of senior-level experience

110 Number of employees

3 Offices (Fresno, Portland & LA)

0 Amount of work we outsource

OUR SERVICES

OUR SERVICES

Online Survey Programming

Sampling

Data Processing & Interactive Dashboards

Online Reporting

Custom Community Development

STRATEGIES & BEST PRACTICES FOR BUILDING SUCCESSFUL CUSTOM RESEARCH PANELS & MROCS.

TOPICS:

• Strategic Benefits of Custom Panels & MROCs

• When to Build vs. Buy

• Custom Panels vs. Online Communities

• Best Practices

CUSTOM PANEL & MROC BENEFITS

• Fast, flexible, low-cost research tool for delivering powerful business insights

• 24/7 access to customers’/stakeholders’ thoughts & feelings about your organization

• Strengthen customer relationships while enhancing your marketing ROI

PANEL BUILD VS. SAMPLE BUY

• Building a panel pays off when your goal is to conduct repeated research with a defined group of respondents, customers, or prospects.

• If you only need to conduct a few studies per year it costs less to purchase sample.

• If your goal is to create a community of customers, you’ll need to build a MROC.

• With a Panel/MROC, you can combine survey data with recruitment data for a richer dataset.

CUSTOM PANELS & ONLINE COMMUNITIES

COMMON FEATURES OF PANELS & MROCS

• Automated member recruitment process

• Member site development and management

• Sample management and sample selection tool

• Member database management

• Monthly / quarterly member repopulation

DEFINING TRADITIONAL CUSTOM PANELS

• Panelists recruited strictly for research purposes

• Clients interact with panelists via surveys or focus groups

• There are no one-to-one interactions between panelists

DEFINING ONLINE COMMUNITIES

• Community members engage in activities on member site that may increase participation levels & lead to rich insights.

• Decipher offers the latest forum technology allowing real-time communication with your community using text, images, and video. Community members can react to other members’ postings.

• There’s a unifying theme for the community based on common interests – such as runners or mothers – or a common research theme, such as civic participation.

CUSTOM COMMUNITY DEVELOPMENT

Online communities different from traditional panels• Destination site for respondents • Increased survey participation rates• Rich insights • Hypothesis generation for new research

MEMBER WEBSITES

• Sites contain privacy policy, about the panel, FAQs, recent news, and member-only areas to update contact & profile information or make technical inquiries.

• Online communities also include forums & instant polls.

http://www.americangenerationspanel.com

http://panel.decipherinc.com/index.php/discuss

EXPERIENCE

• Decipher has built and managed custom panels & MROCs ranging in size from under 1,000 to over 100,000 over the past 10 years.

• My own experience includes 15 years building & managing online access panels for Ipsos & TNS, as well as designing panel tools & processes.

BEST PRACTICES

BEST PRACTICES FOR RESEARCH QUALITY & COST EFFECTIVENESS

• Panel/Community Recruitment

• Sample Selection & Contact Frequency

• Panel Health

PANEL/COMMUNITY RECRUITMENT

• Recruitment sources may include:• Client e-mail list or DB (least expensive, best join rates)• Links on websites• Online ads• Phone or Mail

• Invitees directed to short recruitment survey to provide basic demographic & profiling data, for use in future sample selection.

• Once survey is submitted, respondent is sent a confirmation e-mail (double opt-in) with a link to click on to verify their membership, ensuring full can-spam compliance.

RECRUITMENT

• Decipher recommends that recruitment surveys are no longer than 5 minutes. The survey should contain essential items for sample selection.

• Longer recruit surveys reduce panel join rates, which in turn increase costs.

• Additional screening and profiling data can be completed once panelists are recruited.

RECRUITMENT

• Decipher recommends offering an incentive for joining the panel to increase join rates.

• Offering a sweepstakes of $1,000 can dramatically improve join rates, thus lowering costs.

SAMPLE SELECTION

• To maximize panel health & longevity, you want to engage respondents regularly, while not overusing them.

• If your panel is underutilized (fewer than 1-2 contacts per month) panelists may lose their “connection” with the panel and stop participating.

SAMPLE SELECTION

• If your panel is over-utilized (more than 5 contacts per month) panelists may get aggravated and opt out or stop responding.

• Remember that you’re not necessarily contacting the entire panel when you field a survey.

SAMPLE SELECTION

• With your panel or community in place, select samples for your surveys with just a few clicks of your mouse.

• Select sample based on answers to recruitment survey.

• Select sample based on answers to previous panel studies.

• Exclude members whom you’ve contacted recently.

WRAP-UP

• Many benefits to building a custom panel or MROC, from cost-savings to research flexibility to deep customer insights.

• Decipher can work with you to determine if a custom panel or MROC is a good fit for your research needs.

WE’D LOVE TOPARTNER WITH YOUTO GET TO THE RIGHT DATA

BY ASKING THE RIGHTQUESTIONSSTARTING WITH

WHY?

BONNIESHERMANbonnie@decipherinc.com916.209.3203

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