When ThinkNow set out to build what became one of the first nationally representative Hispanic online panels in 2008, we thought a lot about what type of communication would work best with Hispanic panelists. While the concept of online research panels was mature by that time, it was a relatively new concept for Hispanic panelists, specifically first-generation U.S. Hispanics. At the time, email was the primary and usually exclusive mode of communication from the panel to the panelists. Interestingly, not much has changed over the past decade. Email is still the primary mode of communication from a panel to a panelist in 2018.
The good old days of six-figure ad tracking studies are long gone. A remnant of recurring revenue for market research firms may have existed on the fringes but has since been replaced with more affordable, and at times more accurate, ad tracking solutions such as Lucid’s Proof and Connect by Cint. These new players are hell-bent on disrupting the status quo, leaving legacy models behind to catch up. So, the question is, do market research firms fit into the ad tracking ecosystem? Before we answer that question, let’s define what ad tracking is.
The meteoric rise of routers, aggregators, and programmatic sampling over the last decade has pushed the boundaries of innovation for delivering online sample. But the same can’t be said for market research panels. Innovation has stalled, boasting minor improvements such as social sign-in, additions of qualitative components to panel infrastructure, and creative incentive solutions. The architecture, however, remains largely in-tact, a near replica of panels past since their advent in the early 2000s. So, the big question for panel is, what’s clogging the innovation pipeline?
I’ve had the privilege of building and maintaining multicultural panels for almost a decade. Despite the progress in technology to improve our delivery methods, our soft skills haven’t kept pace. As an industry, we’re still struggling to create culturally relevant panel experiences for respondents. This isn’t specific to multicultural panels, rather panels at large. We are an industry dedicated to helping our clients mine for consumer insights that will aid in the development of better products, services, and experiences.
I just returned from my first SampleCon in New Orleans today. I was asked to join a panel of thought leaders discussing Innovations in Engagement of Hard to Reach Audiences. We didn’t solve the issue of how to reach those audiences from a sample perspective, but we did have productive conversations that yielded new insights on how to address this conundrum now and in the future. Dyna Boen, UB Mobile (left), Mario X. Carrasco (center), Jim Bernier, GfK (right)
Utilize non-research community platforms to harness the power of market research online communities at a lower cost. Market research online communities provide market research companies with an efficient and convenient way to reach a specific target audience. So with all the advantages they provide, why aren’t all companies investing in them?
A behind the scenes look at the importance of social media to building effective online panel communities Mario X. Carrasco (Managing Partner at ThinkNow Research) gave an interview with Online MR Magazine (July 2016 Edition) on the current state of the online panel industry, the challenges it faces, and how social media and other innovations are shaking things up. Read the full interview here.
Utilize existing non-research community platforms to harness the power of online communities at a lower cost Market research online communities allow market research companies an efficient and convenient way to reach a specific target audience. With the advantage they provide, why wouldn’t all companies invest in one? The trouble is, starting a community seems almost impossible to budget for small to medium size companies.