Custom Panels for Market Research

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WHY DO PEOPLE CARE SO MUCH ABOUT CELEBRITIES?

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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

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WHY DO PEOPLECARE SO MUCH ABOUT CELEBRITIES?

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WE’RE JUST AS CURIOUSABOUT HUMAN BEHAVIORAS YOU ARE.

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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

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OUR SERVICES

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OUR SERVICES

Online Survey Programming

Sampling

Data Processing & Interactive Dashboards

Online Reporting

Custom Community Development

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

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TOPICS:

• Strategic Benefits of Custom Panels & MROCs

• When to Build vs. Buy

• Custom Panels vs. Online Communities

• Best Practices

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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

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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.

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CUSTOM PANELS & ONLINE COMMUNITIES

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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

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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

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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.

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CUSTOM COMMUNITY DEVELOPMENT

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

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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

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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.

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BEST PRACTICES

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BEST PRACTICES FOR RESEARCH QUALITY & COST EFFECTIVENESS

• Panel/Community Recruitment

• Sample Selection & Contact Frequency

• Panel Health

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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

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BY ASKING THE RIGHTQUESTIONSSTARTING WITH

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WHY?

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[email protected]

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