What’s the buzz with online survey panels? There’s a lot of competition in today’s market. It, therefore, becomes crucial for organizations to excel and be better than the best. They must develop new strategies and options to leverage competition and gain maximum benefits. Market survey panels continuously collect data online to look at customer patterns and capitalize on opportunities.
Market panel research is one of the most reliable ways to keep up with the ever-changing market. Researchers send panel research surveys to customers and online panel members to collect reliable first-hand data.
A survey of online market research panels for online market research companies is nothing but a centralized database of respondents. These are people who have agreed to provide feedback in surveys regarding products, services, business processes, etc.
What are online survey panels?
Online survey panels represent niches in which you’d want to sell your products/services. This panel comprises highly qualified, experienced professionals who will respond to a survey as best as possible. The advantage of these panels over sending the surveys to the customers is that customers may tend to get a little biased toward the company, skewing the study results.
Having a definite, accurate panel that fits your requirements gets you results to make well-informed decisions. According to the kind of responses you seek, you can choose from the different online survey populations like Veterinarians, Gamers, College Students, Small Owners of Business and Consumer Audiences, etc.
We can bifurcate these panels into B2B and B2C audiences. B2B panelists specialize in taking business-oriented surveys. They cover various segments, industries, sizes, employee numbers, etc., that exist in today’s world. The consumer surveys can also be empowered with an immensely broad range of samples from panelists who specialize in their respective domains, whether agriculture or technology.
Panel providers choose panelists of these B2B/B2C panels through a tight screening and selection process with over 300 background data points collected from each panelist. These panels are formed only by panelists who are 100% willing to devote their time and efforts to a survey because the responses received for the surveys are always efficient.
LEARN ABOUT: What Is A Panel Survey?
Five benefits of using online survey panels for research:
The market research panel provided valuable insights through online survey panels, helping us better understand consumer preferences and trends. Here are the benefits of using online survey panels.
1. Effortless access
It becomes easy for organizations to access online survey panels because of the already existing panelists. It also reduces the overall turnaround time of the survey project. Suppose you want feedback about a newly launched product. In that case, a panel survey can be one of the most accessible means to understand what your target audience should be and the response you might receive for it, and you can get this information almost in an instant.
2. Cost-effective
Having survey panels implies a reduction of cost in more than one way. As you already get niche panels, you automatically avoid paying a large sum to the 3rd party for the database. The quality of members in these survey panels is much better than any other source as they go through a thorough screening and selection process.
3. High-quality responses
All the online survey panel members have signed up for it, so the answers provided by them are 100% trustworthy. These panelists will receive perks for their reactions and are well aware that they may also be invited to other researchers.
4. Saves time
Gathering responses through online survey panels is much faster than collecting data through random sampling. As the panelists opt-in to take part in research studies themselves, it’s sure that response gathering is more rapid. Also, it saves a lot of time as employee recruitment is not necessary.
5. Study sensitive issues
While researching topics like alcohol, drugs, or x-rated products, inevitably targeting a random population does not work. A big bunch of the community will not be comfortable answering such questions. Studying sensitive topics becomes much more manageable by gathering accurate insights from online panelists who have signed up to participate in such studies.
LEARN ABOUT: Lead Generation Survey
Recruiting online survey panels
Researching with the help of online survey panels surely has its benefits. But where do these panelists come from? How do researchers recruit them?
Panel recruitment for online survey panels is generally done via either internal recruitment channels or external recruitment channels. Holistic research practitioners use a comprehensive approach when analyzing data from online survey panels to understand consumer behavior and preferences better.
Online survey panels have become indispensable for conducting cost-effective and efficient market research studies, providing valuable insights into consumer behavior and preferences.
QuestionPro Audiences’ registered panelists provide detailed demographics and background information, accounting for more than 300 data points. It ensures the capturing of accurate information, which helps to eliminate inferior-quality responses.
What do internal and external recruitment channels mean?
Internal channels
Internal sources are readily available and generally free. They include existing customers, customer email lists, social media sites, point-of-sale recruitment questions, etc. Onboarding them to the panel is easy as these people have used or communicated with the brand in one way or another. They are more likely to consider joining your brand than someone who has not interacted with the brand.
External channels
Researchers generally use external sources when recruitment through internal channels becomes insufficient. Modes of recruitment include banners, ads, lead-generation vendors, affiliate networks, etc. This method can be more expensive than internal channels. We strongly recommend taking this approach only after you utilize and exhaust the internal channels.
LEARN ABOUT: Panel Respondents
How to manage an online survey panel
Recruiting participants to be a part of the panel is one side of the coin. Managing them to keep them engaged is another side. Researchers must maintain panels from time to time to avoid the risk of panelists dropping off or losing interest.
Panel vendors must come up with creative ways to retain the audience. They also must keep refreshing the details of the panelists to keep the panel maintained. Panelists typically also have control of their membership accounts. They do their part by updating their personal/professional information to keep the panel refreshed.
A typical online survey panel strives to be representative of the entire population. So if a panel is only available to citizens of the United States, it will attempt to reflect the population disbursement of all the states and the demographic specifics. It tries to replicate the 320 million US citizens on a micro-scale.
Some private online panels have rules or restrictions on the number of times the panelists can be contacted for surveys per month. The online panel helps to eliminate response bias and promotes a wider variety of responses.
LEARN ABOUT: B2B Online Panels
Online survey panels with QuestionPro Audience
QuestionPro Audience offers online survey panels to those who seek instant answers to complex questions. Questions related to clientele, brand, and the market trends you cater to. It offers expertized and responsive personal support that provides the launching of surveys at short notice. It also provides an online analytics dashboard to observe responses and make changes accordingly.
Get in touch with us at [email protected] to know more. QuestionPro Audience offers online survey panels to those who seek instant answers to complex questions. Questions related to clientele, brand, and the market you cater to.
It offers expertized and responsive personal support that provides the launching of surveys at short notice. It also provides an online analytics dashboard to observe responses and make changes accordingly.
