Business

Advantages of Using Online Research Panels in Market Research

Researchers often use online panels to find people to take part in or answer questions for a market research study. After reading this article you can easily learn if our online survey panels good for qualitative research?

A group of people who have already agreed to take part in future market research studies, such as online surveys, focus groups, and in-depth interviews, make up an online research panel.

Are you ready to find out why market research panels are such a big part of the market research business? Market research buyers and sellers can get a lot out of online panels.

1. Project feasibility.

The cost of a market research project goes down because online research panels can help with targeting. Market research often asks for feedback from certain kinds of people. A client may want to hear from people with certain job functions/titles, in certain industries, with certain demographics, and with certain habits. ​

For example, a client may want to hear from people who live within 50 miles of Minneapolis and drink at least two cups of coffee every day. Sounds clear, right?

2. Ease of taking a sample.

Market research panels that can send out targeted invitations can also make it easier to get responses.

Online research panels have the tools they need to handle quotas and incentives. Processing rewards can be hard, but online research panels make it easy because they take care of the whole thing.

3. Cost.

Costs are kept down by the resources and partners that online research panels have. Other ways to get samples, like online ads or buying email lists, can be expensive if they don’t work out as planned.

But panel vendors give customers a full cost breakdown so they can see how much each survey they fill out costs. You can easily contact us for all estimates and other help you need.

4. Automated data collection.

For online research panels, project managers can control how the data is collected. This can be done by keeping track of quotas, doing fieldwork in groups, or stopping fieldwork when a quota is met. This saves time for the people who do research.

5. Convenient for respondents.

One of the best things about online research panels is that people know how they work (i.e., how to log in, how to access surveys, how rewards are processed, etc.). This makes it less hard to figure out how to reach survey participants, since online research panels handle that part of the process.

Methods of Sampling to Think About

Brands and researchers don’t have to get samples for their studies from online panel vendors. For example, both paid Facebook ads and our own research panel are used by our market research company.

Facebook ads you pay for.

Using Facebook or other social media sites can be more helpful than hiring a panel vendor. It has more access to real customers who don’t know if they qualify for a market research study or not.

There are a lot of professional survey takers on panel lists who know how to cheat the system to get into a paid study.

There are also detailed targeting options that work like an online research panel and let you find your specific audiences by age, gender, location, and more.

Read our Ultimate Guide to How to Use Social Media to Find Research Participants for more information.

Market research company panels.

Lastly, market research firms like Drive Research have their own online panel, which is like a panel vendor.

Most of the time, they are made up of people who have done market research with the company in the past and have asked to be told about future studies.

This is a great option if you want to work with a full-service research firm that can help with survey design, fieldwork, reporting, and more.

Related posts
Business

Case Studies: Successful Implementations of Face Recognition Gates in Various Industries

Face recognition gates have gained significant traction across industries for their ability to…
Read more
Business

Brightening Pimlico: The Vital Role of Electricians in London's Heart

Introduction The central London neighbourhood of Pimlico is renowned for its lively commercial…
Read more
Business

Empowering Wimbledon: The Vital Role of Electricians in South-West London

Introduction Wimbledon, a lovely area of South-West London, is well-known around the world for…
Read more
Newsletter
Become a Trendsetter
Sign up for Davenport’s Daily Digest and get the best of Davenport, tailored for you.

Leave a Reply

Your email address will not be published. Required fields are marked *

Open chat
Hello
How we can help you?