Transform your insight generation process
Use our in-depth online survey guide to create an actionable feedback collection survey process.
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The process of collecting market intelligence is a crucial one , especially when the organizations carrying it out rely on it to make informed business decisions. As a result , gathering market data in a quick and efficient manner becomes the need of the hour. Companies need to optimize their approaach to data collection in way that reduces their effort and provides them with qualitative input that assist intelligent follow-up actions.
This can be easily achieved through internet panel surveys that not only provide organizations with the ability to gather quick data points within specified time frames but also recruits individuals with the right knowledge that increases the efficacy of the research process. This fast research mechanism even lets companies take advantage of opportunities that present itself in the market before the ccompetition , hence , allowing them to develop a stronger footing and cash in on growth opportunities.
Internet panels are specialized individuals who are equipped with the relevant information to answer specific research questions in the best possible manner. These people have high experience and intelligence in particular fields of organizational interest. This makes them highly eligible to provide prompt answers and deep insights that can serve as an impetus to the functioning of organizations. For example: for concept studies of products such as Kindle’s Fire tablet , the internet panel is likely to consist of low income working employees or students with a need for a tablet ,to carry out their day to day activities , within an affordable price range. Regular e-book readers and Amazon members wishing to integrate all their entertainment and work related actvities is another niche market that the product will appeal to and so , they must be consulted for authentic feedback that can be used to tailor make the product for the target audience.
Internet panels allow organizations to hand pick the individuals that they’d like to carry survey for specific information. This allows the organisations to conveniently select the right people in the right number without any geographical restrictions. These answers then get combined into a cohesive overview of the topic of research through useful analytical tools that are designed to treat and summarize different types of information .
The benefits listed below make a good case for using internet panel surveys :
Internet panel surveys are meant to offer convenience with quality. Surveys are designed and distributed through multiple channels with vast audience traffic that engage high number of relevant respondents while collecting intelligence in a quick manner. Organizations are not required to put in extra resources or effort to look for eligible respondents . Information gets sourced through multiple respondents without much hassle . Internet panel surveys , in this sense , provide a great deal of insights at minimal effort .
The respondents in an Internet Panel Study are highly aware about the current market trends and customer preferences . Their answers and suggestions are much more representative of the actual market sentiment. This allows organizations to extract maximum information using a sample of participants. This reduces sampling bias and makes the implementation of modifications much more easier as it helps gain ready market acceptance . Organizations need not search for specified individuals that meet the eligibility criteria as such work can be feasibly outsourced
The high expertise of the respondents in the study helps gain quality insights . By quality insights , we mean that respondents are able to answer based on up to date market information and their own experience as well as researchers get to explore additional areas without worrying about the respondent’s levels of understanding. The feedback provided by such respondents is authentic and can be trusted to deliver in terms of market results.
As American author Seth Godin puts it : Everyone is not your customer. By spending on surveying large samples of data that might or might not help , you skim through the crowd to identify respondents that are fit and eligible to answer your questions. Moreover , you get to reach these individuals not through traditional methods that make the data collection process slow and tedious , but by accessing data throughout the world without being restricted by geographical barriers. This results in increased saving and increased earnings as a result of less cost and increased revenue from products modified to meet customer expectations , designed and improved using meticulous research .
Business research and market studies require respondents who can answer questions regarding consumer behaviour , customer psychology , market trends and many more highly technical areas of functioning which not any person with a generalized familiarity can answer. For specific studies , there is a requirement of experts in specialized fields who have been studying brand or customer specific behaviour for long periods of time and can back up claims with hard facts and figures . Traditional methods may not be able to provide you with professionals that make your research more concentrated. The researcher can easily dive into deeper aspects and use technical jargon without running the risk of confusing the respondent.
You’ve recruited a panel of individuals best suited for a particular research topic. Is it fair to contact them only when the organization is looking for answers?
Maintaining panels of respondents is all about engagement. Panelists are interested in engaging in a dialogue with the organizations they are assisting. Sometimes , this lack of engagement forces the respondents to drop out of studies even when such studies are accompanied by incentives and rewards . This is particularly true for brand related studies where respondents volunteer to take part in research to help out the brand that they love or have shared a long journey with. Naturally , these people becomes the first choice for becoming a part of the respondent panels . But the lack of interaction can turn these brand advocates into passives or even detractors if the brands fail to meet their expectation levels in terms of generating engagement .
So apart from surveying customers to know what they think about you , ask them to furnish you with information about them. This helps in creating database of panels. Further , using a feedback or open messaging mechanism makes panelists feel valued as well provides them with an open platform to express themselves freely . It sends a message that the organization is actually interested in listening and acting upon what their customers have to say which prompts these customers to put their best foot forward and be as comprehensive as possible while participating in the research.
Voxco actively surveys and manages panel of respondents using Voxco Panel management system that integrates seamlessly with Voxco online . Selection and screening takes place that gathers 90 data points from each individual panelist. Research is distributed and collected within hours through an efficient distribution and collection process. Logic functions ensure error minimization to maintain the accuracy and authenticity of data. These specializef panels are carefully selected to meet the peculiar needs of organizations in the best possible manner.