3 Key Benefits of Using a Market Research Panel for Online Surveys

When conducting an online survey with general consumers or business professionals, there are a variety of ways fieldwork can be collected.

Two that we have discussed in depth in are social media and third-party research panels. In a previous post, we wrote about 5 reasons to consider Facebook for online surveys. But in this post, we take a look at the benefits of using a third-party research panel. Either way, as a reader of the Drive Research blog, we keep you informed on all angles.

Very simply, the three key benefits of using a research panel are:

1. Fieldwork moves more quickly

2. Opportunity for more completes

3. All responses are full completes

Learn more below!

3 Key Benefits of Using a Market Research Panel for Online Surveys

Wondering the benefits of research panels? We've got you covered!

Benefit 1: Fieldwork Moves Quickly

The first benefit of using a market research panel is fieldwork is able to move more quickly compared other types of fieldwork approaches. Third-party market research panel companies are experts at keeping panel members engaged and ready to respond to surveys, not to mention they have millions of members that can be targeted.

In fact, Drive Research, market research company in New York, was able to gather 1000 completed survey responses from homeowners in the U.S. in less than 48 hours. This included time for our team to run data quality checks and prepare the report for our client. Learn more about this study!

Benefit 2: Opportunity for More Completes

The second benefit of using a market research panel for fieldwork is the opportunity to collect more completes if needed. Want to double the amount of completes? Using a research panel makes this request easy as long as the research panel vendor says it is feasible.

Some panel vendors often deal with project minimum amounts. So if you have $2,000 to spend you may be able to get 800 responses compared to 400 if you used Facebook or other social media platforms.

In fact, most research panel vendors make the whole process simple. Typically, all you have to do is share the qualifications to participate in the study and desired demographic mixes/quotas and fieldwork is ready to go.

Benefit #3: All Responses Are Full Completes

The third benefit of using a market research panel for fieldwork is all responses are full completes. Unlike most other fieldwork approaches, using a research panel guarantees the results are full completes. While there may be some partial completes or drop-offs, the research panel only charges for full completes.

This is a huge plus since other methods divide the cost spent on fieldwork among full completes, partial completes, and drop-offs. Why are partial completes and drops offs a bad thing in market research?

Suppose 100 people take a survey, but 50 of the responses are partial completes or drop-offs. This means that a question in the survey may have 50 responses when it had the opportunity to reach 100. Remember, more data is better!

Contact Drive Research, Market Research Company

Drive Research is a market research company in New York that helps organizations with market research needs all around the world. Our market research services include online surveys, focus groups, voice of customer (VoC), and customer experience (CX).

Interested in conducting an online survey for your organization? Call us at 315-303-2040 or send us information on this contact form. Another option is an email at info@driveresearch.com.

Thanks for reading!

Online Surveys