Notes

Benefits you can get from consumer panels

The market research panels are those groups who have agreed to take up part in the market research or surveys. They are the ones who have already shared information about themselves and their households. This is something can be utilized for appropriate sample selection. However before going ahead with online market research it is essential for you to be aware about the advantages and concerns about customer panels. You can also get a few benefits from these consumer panels:

Offers accessibility and convenience: When there is prearranged targeted group of people that are willing to help you out will offer you easy to access and convenience.

Quick fieldwork: At the time you have combination of online research with opt-ins will result in fast and speed data collection.
Potential clients: Panels are generally developed for the particular products or services. In all such cases people who have your company in their set of considerations can be the best to hold on a survey.

Efficiency: There will be no need to re-screen participants over key qualification criteria.
Longitudinal benefits: Large adequate market research panels will offer the client the opportunity to track the change in behavior over the time.

Mentioned below are some concerns related to the market research panel:
Cost: One thing that you need to know is that access to these specialized respondents is not going to come through general random sample price. But then some of the panels will most of the times have some incentive which will be a giveaway and will be included well in the price. With this you can trim the overall cost.

Practice bias: When you use panel respondents you can easily get the inside knowledge of the procedures and the services and products research pattern. You need to know that continuous survey with the same panel will make them less of real and will be more like formal responders. Thus it is important that you pick on the different type of panels when you want to do some online market research.

Good quality data: Sometimes the panel responders are only for this. This means they just do not sign up for help but they also sign up to make some good money out of this. For this you need to ensure that you routinely update your database and remove such kind of members.

Using panel for wrong studies: In some kind of market research studies like true advertising awareness it would be good enough for you to make use of pure random sample instead of predetermined set of people.

You will easily know what has to be done as now you know of the many benefits which you can get with the market research pane. As there is restricted access to landlines and more to the online surveys there is enormous growth in panels. You can not easily reach out to the target audience. In majority of the cases customers view accessibility as the most significant aspect in recruitment. This factor alone will outweigh the concerns of using a panel. Have a look at http://www.lightspeedgmi.com/four-tips-for-getting-the-highest-roi-from-online-market-research.