August 7, 2013
Stockholm, Sweden (RPRN) 08/07/13 — Many brands choose to invest in a market research panel to gain insight on what values resonate with their audience. However, the vital function of panel management must not be sidelined if brands are to capitalize on this investment, says Cint, a global provider of market insight tools.
Building a panel made up of representatives of the target market has become a popular method, often chosen by brands over consumer research using survey respondents from external vendors, as the results can be considered more reliable and trusted. While the resource requirements of setting up a panel can be higher than simply utilizing others’ panels, the benefits and returns are higher.
The maintenance aspect is one which must be factored in when considering this route. It is important the usage of panel members is monitored carefully to avoid fatigue, and that attracting and adding new panel members is part of the upkeep to ensure freshness.
Cint’s CEO Bo Mattsson explains: “Market research panels are an invaluable tool for brands and organizations executing regular campaigns, or simply wanting to keep their finger on the pulse with what hits the mark with their advocates. What some forget to take into consideration is the on-going task of maintenance. The investment in a panel will only reap rewards if this is done regularly.
“It’s not a difficult job; simple ‘cleaning’ tasks such as removal of out-of-date email addresses and removal of non-responders, coupled with creating new and innovative ways to recruit relevant new members. Many DIY market research tools like Cint Engage make this job quick and effective. ”
Moreover, the task of building a panel has also been made simple with the rise in DIY market research tools, making this an accessible and cost-effective route for many brands, business and organizations. In addition, not-for-profit organizations have particularly been able to benefit in this area by allowing others to use their panel for research, not only creating a ‘thank you’ payment for their panel members but also to generate income for the charity or organization, boosting funds.
Cint offers a wide range of DIY market intelligence tools. As well as allowing users to set up their own panels via Cint Engage, its OpinionHUB provides access to more than 10 million participants across 57 countries. For further information, please visit www.cint.com.
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