{"id":4698,"date":"2011-08-01T10:13:56","date_gmt":"2011-08-01T10:13:56","guid":{"rendered":"http:\/\/www.questionpro.com\/?p=4698"},"modified":"2023-07-31T07:28:10","modified_gmt":"2023-07-31T07:28:10","slug":"four-ways-that-using-a-customer-research-panel-makes-you-money","status":"publish","type":"post","link":"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/","title":{"rendered":"Four Ways That Using a Customer Research Panel Makes You Money"},"content":{"rendered":"

\"image\"<\/a>It was only going to be a matter of time before someone figured out that random people milling around social media channels was going to be difficult to mobilize once the technology hit the mainstream.<\/p>\n

We’ve already seen how this works on MySpace; as soon as Facebook<\/a> got into the picture and allowed for tighter, more personal relationships to develop, the random associations via MySpace fizzled.<\/p>\n

Twitter<\/a> had been moving into the same direction when they introduced “lists” and gave you the ability to start segmenting the people you followed into groups.<\/p>\n

And now, with the swooning over Google+ and it’s circles, the trend is clear — people want to be in groups and you want them to be in groups because there’s no other way to meaningfully engage with folks without losing your mind or your money.<\/p>\n

Customer Research Panels are Your Own Social Network<\/strong><\/p>\n

There have been customer group applications out there, but the big flaw they all have is their inability to make sense out of what your group is saying in a meaningful way. \u00a0These applications are mostly about having conversations. \u00a0And that is great – but doesn’t help you make decisions that will improve customer satisfaction or experience.<\/p>\n

When you create a customer research panel, you are opening the door to more meaningful conversations around your product or service. \u00a0And as soon as the conversation turns meaningful — value makes an appearance and this will ultimately drive revenue.<\/p>\n

IdeaScale<\/a> is a great way to start exploring the world of customer\u00a0research\u00a0panels. \u00a0In a very loose definition of the term, people register on your IdeaScale page and vote improvement or development ideas up or down. \u00a0They can also add comments and get into conversations. \u00a0There is a quantitative component in that ideas get votes and a qualitative component in the comment sections of the ideas.<\/p>\n

You can engage your IdeaScale community in rather powerful ways so that they function as a sort of focus group.<\/p>\n

IdeaScale is really a super-two-fer tool in that it saves you money in all the preliminary work around focus groups. \u00a0It can make you money if you pay attention to the recommendations that are made by your customers and implement them. \u00a0Depending on how well you use IdeaScale, it’s not uncommon to save your small business in the range of $100,000. \u00a0This is generally what it costs to do this kind of research that was never in your budget before. \u00a0I’m not even including the money saved in mistakes and missteps because you didn’t know exactly what the customer wanted.<\/p>\n

Funnel Your Customers Into a Panel and Build Engagement<\/strong><\/p>\n

Instead of loading up a customer list to do a traditional online customer survey, invite your customer community<\/a> to participate in your online research panel.<\/p>\n

LEARN ABOUT:<\/strong> What Is A Panel Survey?<\/a><\/p>\n

An online research panel is really nothing more and a group of people who have volunteered to answer your questions in return for either points, rewards or other kinds of incentives.<\/p>\n

Building a customer research panel actually makes you money in the following ways:<\/p>\n

    \n
  1. You have a group of engaged customers waiting to tell you what they think. \u00a0It takes time and money to engage customers enough to care to give you an honest opinion. \u00a0When you already have a group of engaged customers who have your interest at heart (mostly because it’s in their interest), then you have a golden respondent base.<\/li>\n
  2. You get faster responses to your questions. \u00a0People who have opted into answering your questions will answer them quickly.<\/li>\n
  3. Your response rate will be better. \u00a0The assumption here is that you are regularly touching your panel, but not constantly bothering them. \u00a0As in any social response, make the exchange count.<\/li>\n
  4. Other companies will want to reach out to your panel. \u00a0Chances are there are other companies who weren’t as savvy as you were to create a customer research<\/a> panel and they sell to your customers as well. \u00a0This is an opportunity for you to give your customer panel the opportunity to earn more incentives and to earn some revenue off the work you invested in creating the panel.<\/li>\n
  5. Better decisions. \u00a0Companies who use a customer research panel to test out ideas and do exploratory research make better decision faster. \u00a0By simply asking a few questions and getting quick responses and then showing your customers what you’ve done with the responses they’ve given you, you’re getting them involved early in the development process.<\/li>\n<\/ol>\n
    Are you currently running a customer research panel of your own? \u00a0What are some of the benefits that you’ve seen so far?<\/span><\/div>\n","protected":false},"excerpt":{"rendered":"

    It was only going to be a matter of time before someone figured out that random people milling around social […]<\/p>\n","protected":false},"author":128,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[180],"tags":[906,826,720,641,927,342,928,882],"yoast_head":"\nFour Ways That Using a Customer Research Panel Makes You Money | QuestionPro<\/title>\n<meta name=\"description\" content=\"It was only going to be a matter of time before someone figured out that random people milling around social media channels was going to be difficult to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Four Ways That Using a Customer Research Panel Makes You Money | QuestionPro\" \/>\n<meta property=\"og:description\" content=\"It was only going to be a matter of time before someone figured out that random people milling around social media channels was going to be difficult to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/\" \/>\n<meta property=\"og:site_name\" content=\"QuestionPro\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/questionpro\" \/>\n<meta property=\"article:published_time\" content=\"2011-08-01T10:13:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-31T07:28:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.questionpro.com\/blog\/wp-content\/uploads\/2011\/08\/istock_000002367194xsmall.jpg?w=200\" \/>\n<meta name=\"author\" content=\"Ivana Taylor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@questionpro\" \/>\n<meta name=\"twitter:site\" content=\"@questionpro\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ivana Taylor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/\"},\"author\":{\"name\":\"Ivana Taylor\",\"@id\":\"https:\/\/www.questionpro.com\/blog\/#\/schema\/person\/5a547e9ba0ad62a9ffa6f12466a7a244\"},\"headline\":\"Four Ways That Using a Customer Research Panel Makes You Money\",\"datePublished\":\"2011-08-01T10:13:56+00:00\",\"dateModified\":\"2023-07-31T07:28:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/\"},\"wordCount\":791,\"publisher\":{\"@id\":\"https:\/\/www.questionpro.com\/blog\/#organization\"},\"keywords\":[\"Customer\",\"Facebook\",\"Google\",\"ideascale\",\"MySpace\",\"Social Media\",\"Social network\",\"Twitter\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/\",\"url\":\"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/\",\"name\":\"Four Ways That Using a Customer Research Panel Makes You Money | QuestionPro\",\"isPartOf\":{\"@id\":\"https:\/\/www.questionpro.com\/blog\/#website\"},\"datePublished\":\"2011-08-01T10:13:56+00:00\",\"dateModified\":\"2023-07-31T07:28:10+00:00\",\"description\":\"It was only going to be a matter of time before someone figured out that random people milling around social media channels was going to be difficult to\",\"breadcrumb\":{\"@id\":\"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.questionpro.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Uncategorized\",\"item\":\"https:\/\/www.questionpro.com\/blog\/category\/uncategorized\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Four Ways That Using a Customer Research Panel Makes You Money\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.questionpro.com\/blog\/#website\",\"url\":\"https:\/\/www.questionpro.com\/blog\/\",\"name\":\"QuestionPro\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.questionpro.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.questionpro.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.questionpro.com\/blog\/#organization\",\"name\":\"QuestionPro\",\"url\":\"https:\/\/www.questionpro.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.questionpro.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.questionpro.com\/blog\/wp-content\/uploads\/2022\/10\/questionpro-logo.svg\",\"contentUrl\":\"https:\/\/www.questionpro.com\/blog\/wp-content\/uploads\/2022\/10\/questionpro-logo.svg\",\"caption\":\"QuestionPro\"},\"image\":{\"@id\":\"https:\/\/www.questionpro.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/questionpro\",\"https:\/\/twitter.com\/questionpro\",\"https:\/\/www.linkedin.com\/company\/questionpro\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.questionpro.com\/blog\/#\/schema\/person\/5a547e9ba0ad62a9ffa6f12466a7a244\",\"name\":\"Ivana Taylor\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.questionpro.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d23fe73ba92b9a95ce057e280755df6b?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d23fe73ba92b9a95ce057e280755df6b?s=96&d=mm&r=g\",\"caption\":\"Ivana Taylor\"},\"description\":\"Ivana Taylor provides DIY Marketing advice, marketing trends and marketing how-to tips and strategies for small business owners and CEOs.\",\"url\":\"https:\/\/www.questionpro.com\/blog\/author\/thirdforce\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Four Ways That Using a Customer Research Panel Makes You Money | QuestionPro","description":"It was only going to be a matter of time before someone figured out that random people milling around social media channels was going to be difficult to","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/","og_locale":"en_US","og_type":"article","og_title":"Four Ways That Using a Customer Research Panel Makes You Money | QuestionPro","og_description":"It was only going to be a matter of time before someone figured out that random people milling around social media channels was going to be difficult to","og_url":"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/","og_site_name":"QuestionPro","article_publisher":"https:\/\/www.facebook.com\/questionpro","article_published_time":"2011-08-01T10:13:56+00:00","article_modified_time":"2023-07-31T07:28:10+00:00","og_image":[{"url":"https:\/\/www.questionpro.com\/blog\/wp-content\/uploads\/2011\/08\/istock_000002367194xsmall.jpg?w=200"}],"author":"Ivana Taylor","twitter_card":"summary_large_image","twitter_creator":"@questionpro","twitter_site":"@questionpro","twitter_misc":{"Written by":"Ivana Taylor","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/#article","isPartOf":{"@id":"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/"},"author":{"name":"Ivana Taylor","@id":"https:\/\/www.questionpro.com\/blog\/#\/schema\/person\/5a547e9ba0ad62a9ffa6f12466a7a244"},"headline":"Four Ways That Using a Customer Research Panel Makes You Money","datePublished":"2011-08-01T10:13:56+00:00","dateModified":"2023-07-31T07:28:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/"},"wordCount":791,"publisher":{"@id":"https:\/\/www.questionpro.com\/blog\/#organization"},"keywords":["Customer","Facebook","Google","ideascale","MySpace","Social Media","Social network","Twitter"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/","url":"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/","name":"Four Ways That Using a Customer Research Panel Makes You Money | QuestionPro","isPartOf":{"@id":"https:\/\/www.questionpro.com\/blog\/#website"},"datePublished":"2011-08-01T10:13:56+00:00","dateModified":"2023-07-31T07:28:10+00:00","description":"It was only going to be a matter of time before someone figured out that random people milling around social media channels was going to be difficult to","breadcrumb":{"@id":"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.questionpro.com\/blog\/four-ways-that-using-a-customer-research-panel-makes-you-money\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.questionpro.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Uncategorized","item":"https:\/\/www.questionpro.com\/blog\/category\/uncategorized\/"},{"@type":"ListItem","position":3,"name":"Four Ways That Using a Customer Research Panel Makes You Money"}]},{"@type":"WebSite","@id":"https:\/\/www.questionpro.com\/blog\/#website","url":"https:\/\/www.questionpro.com\/blog\/","name":"QuestionPro","description":"","publisher":{"@id":"https:\/\/www.questionpro.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.questionpro.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.questionpro.com\/blog\/#organization","name":"QuestionPro","url":"https:\/\/www.questionpro.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.questionpro.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.questionpro.com\/blog\/wp-content\/uploads\/2022\/10\/questionpro-logo.svg","contentUrl":"https:\/\/www.questionpro.com\/blog\/wp-content\/uploads\/2022\/10\/questionpro-logo.svg","caption":"QuestionPro"},"image":{"@id":"https:\/\/www.questionpro.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/questionpro","https:\/\/twitter.com\/questionpro","https:\/\/www.linkedin.com\/company\/questionpro\/"]},{"@type":"Person","@id":"https:\/\/www.questionpro.com\/blog\/#\/schema\/person\/5a547e9ba0ad62a9ffa6f12466a7a244","name":"Ivana Taylor","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.questionpro.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/d23fe73ba92b9a95ce057e280755df6b?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d23fe73ba92b9a95ce057e280755df6b?s=96&d=mm&r=g","caption":"Ivana Taylor"},"description":"Ivana Taylor provides DIY Marketing advice, marketing trends and marketing how-to tips and strategies for small business owners and CEOs.","url":"https:\/\/www.questionpro.com\/blog\/author\/thirdforce\/"}]}},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"Ivana Taylor","author_link":"https:\/\/www.questionpro.com\/blog\/author\/thirdforce\/"},"_links":{"self":[{"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/posts\/4698"}],"collection":[{"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/users\/128"}],"replies":[{"embeddable":true,"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/comments?post=4698"}],"version-history":[{"count":2,"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/posts\/4698\/revisions"}],"predecessor-version":[{"id":804692,"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/posts\/4698\/revisions\/804692"}],"wp:attachment":[{"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/media?parent=4698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/categories?post=4698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/tags?post=4698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}