Market research panel programs constantly find themselves working with Millennials and, more recently, Generation Z (Gen Z). Finding ways to motivate these panelists and increase survey responses is a high priority in any successful market research strategy. Millennials are those born between 1981 and 1996. Gen Z members were born between 1996 and 2015, the oldest Gen Zs are in their early twenties. There are many similarities between the two generations, but to consider them the same is a mistake market research companies cannot afford to make. When creating incentive programs for your Millennial and Gen Z market research panelists, there are steps that can be taken to cater to these generations in an effective manner. When creating a limited incentive marketplace, include prepaid cards, gift cards, and e-gift cards, particularly for online brands like Amazon. This provides relevant financial incentives that will please both generations. It will satisfy the Millennials’ desire to shop online and it will give the Gen Zs the freedom to choose products that reflect their individuality. Also, when you include merchandise, make sure you’ve got an expansive selection of products for your panelists to choose from. Consider motivating with social consciousness. If your organization does […]
Category: Market Research
Your Guide To Health and Wellness Research Panel Incentives and Technology
Choosing the right incentives and technology for your health and wellness research incentive program can be a challenge. You need incentives that will fit your demographics, reflect the goals of the program, and meet your budget requirements. Pharmaceutical, medical products, and healthcare research incentive programs often have very specific requirements for their programs. Fortunately, there are always options out there. When setting up your research panel, you want to make sure that you provide your panelists with timely and desirable compensation that will motivate them to continue participating with your program. Incentives should be tailored to your demographics, but there are some options that have high perceived value amongst a majority of participants. Examples of some popular incentive options: Visa prepaid digital solutions Physical and virtual gift card Merchandise Drawings for iPads, Travel, Gift Cards, Smart TVs, FitBits, Fitness Equipment, etc. Both virtual and physical prepaid and gift cards can be a good choice for your incentive program. Gift cards and prepaid cards are viewed as cash equivalents, which makes them one of the most popular types of incentives. Merchandise, particularly when utilized in a points-based incentive marketplace, gives participants the option for self-selection. The use of drawings or instant […]
Cash-Based Incentives Your Market Research Panel Will Love
Market research incentive programs are a staple when motivating your market research panelists. You can use an incentive program to maximize response rates from your market research panel, increase motivation, improve recruiting, and to create a positive culture. Choosing the right rewards and incentives ensures that your panelists will have the best experience with your market research program. Our case studies have shown impressive returns on investment for companies that have implemented the right incentives for their market research panel incentive programs. Cash Equivalent Survey Incentives for market research participants are a popular choice among companies and their program participants. Panelists love cash-equivalent and cash-based incentives. These can include physical and virtual gift cards, VISA prepaid cards, checks, and so much more. Using digital cash-equivalent incentives allows you to save both time and money. Your participants can receive their rewards instantly, and you don’t have to go to the time, effort, or cost of mailing out individual checks to your participants. All Digital Rewards has an extensive catalog of digital reward offerings, to include name brand gift cards to your participants’ favorite stores. Cash-based incentives can also be blended with merchandise. Blended incentive marketplaces often perform better than programs that […]
Use This Engagement Strategy To Build A Thriving Market Research Panel
Everyone’s heard cash is king. Who doesn’t want free money? Market research panel programs tend to choose cash-based rewards for their panelists for this very reason. However, if you want higher recruitment, engagement, and retention, cash-based incentives may not be your best choice. Cash-based rewards programs require the panelist to complete a task, then the user is rewarded with a cash or cash equivalent reward, such as a visa prepaid card, check, or PayPal deposit. Between the costs of inventory, distribution, and fulfillment, cash-based rewards can be pricy. Checks cost admin time and effort, plastic prepaid cards are expensive, and virtual prepaid cards have admin costs and inventory to manage, despite their lower cost. One strategy that consistently proves effective in lowering program costs and increasing engagement and retention is switching to a points-based incentive program with a mix of cash, prepaid debit cards, merchandise, and experiential rewards. A points-based, blended-incentive reward program offers points or reward value to the panelist that they can spend in a marketplace to select a variety of different rewards, specifically chosen to cater to your program’s demographics. Merchandise and other marketplace incentives typically have a lower cost than cash-based rewards. For example, with the […]
Three Keys To Increase Market Research Panel Engagement
Engagement is key to market research panel success. With quality engagement, you can easily obtain the essential, actionable insights and data needed for your market research program. To increase market research engagement, you need three things: The right rewards, the right technology, and the right support. Having the right reward management software and technology for your market research incentive program can be the difference between success and failure. Your reward management technology should provide a seamless experience, be secure, and be able to provide the metrics and data you need. At All Digital Rewards, we offer a fully customized web-based solution, ResearchSTACK™, a turn-key panel engagement reward management platform utilizing ADR’s various microservices. ResearchSTACK™ is designed to support the marketing initiatives of all your market research. Our technology offers scalable proofing systems assisted by advanced reporting, analytics rewards for reward incentive redemption, complex event processing, PCI level security, sweepstake prize fulfillment with single point integration, for small to large panel incentive programs. You want to know your market research incentive program has the support to make it successful. At All Digital Rewards, we offer a range of support services to help make your market research incentive program a success. We […]
Market Research Incentives Strategies That Could Save You Thousands
The challenge that market researchers face is how to engage participants while keeping costs down. Utilizing an incentive program is a proven way to increase program participation and engage your users, but how do you keep program costs down? Short answer: Gamification and diverse, demographic-specific incentives. Take the case of one of All Digital Rewards Market Research clients. Our client had been running a cash-based incentive program for their market research panels. The program offered checks and prepaid cards, such as visa prepaid card rewards, as incentives for completing program tasks. There was consistent user engagement at least one to five times a month. Users had become habitual in their choices of the cash-equivalent rewards, and the program was proving to be expensive for our client. To decrease our client’s costs, we worked with them to enhance their current incentive program and transform it into a more cost-effective program without sacrificing engagement. First, we introduced a wide range of incentive reward products alongside the current cash-equivalent products as part of the marketplace for the points-based incentive management system. By adding the new rewards alongside the old cash-equivalent rewards, the users were able to view the new marketplace as an upgrade, […]
The Building Blocks of a Successful Panel Loyalty Program
Panel loyalty programs increase research firms’ panelist retention, survey frequency, and panelist acquisition programs, making them foundational in increasing your research firm’s profitability and revenue. An effective panel incentive program can build brand advocacy and increase the lifetime value of the panelists. The four basic building blocks when creating an effective panel loyalty program strategy include objectives, gaining program support, rewarding participants and measuring the program. Objectives There are a few steps you must take when creating your panel loyalty program. Gaining the support of key stakeholders When preparing for a panel incentive initiative, panel managers often face roadblocks in the approval phase of their proposal. Be prepared to show upper management that you have a sound business case, including measurable and accurate metrics. Loyalty incentive programs have proven vital in cultivating and rewarding repeat panelists. You must ensure your loyalty program will be valuable to your key stakeholders. With a strong plan in place with clear financial objectives, management is more likely to understand the benefits of your program and see that it warrants their support. When in the program design phase, take the following steps: Rewarding The Participants There are several types of incentives to select from, including: […]
Why Prepaid Reward Cards Continue to Increase Incentive Program Engagement
There is one constant in every marketer’s toolbox when it comes to incentive rewards – Prepaid Reward Cards such as; VISA and brand named Gift Cards are a still a favorite with participants. If you need to increase engagement in a consumer promotion and if you’re not using them – you should be. Some of the benefits that prepaid cards offer include ease of delivery and use perceived value, and being universally accepted. Businesses continue to use them in their promotions to reward participants and to increase engagement. Below are some facts to consider when creating your incentive and promotional strategy and why choosing the right prepaid reward card providers are important. Business can deliver rewards in a variety of ways, either digitally or by a physical card and participants can receive their reward when and how they like it. A prepaid card is practically a cash equivalent to your participants – easy to store and use. Another awesome bonus is that prepaid cards limit fraudulent activity. VISA Prepaid Card: Users able to use the card practically anywhere to make purchases, both in store or online, just as they would with a debit or credit card. Gift Cards have numerous […]
A Rewarding Experience – The Building Blocks of a Successful Panel Loyalty Program
Panel loyalty programs increase research firm’s panelist retention, survey frequency, and panelist acquisition programs, making them foundational in increasing your research firm’s profitability and revenue. An effective panel incentive program can build brand advocacy and increase the lifetime value of the panelists. The four basic building blocks when creating an effective panel loyalty program strategy include objectives, gaining program support, rewarding participants and measuring the program. There are a few steps you must take when creating your panel loyalty program. When preparing for a panel incentive initiative, panel managers often face roadblocks in the approval phase of their proposal. Be prepared to show upper management that you have a sound business case, including measurable and accurate metrics. Loyalty incentive programs have proven vital in cultivating and rewarding repeat panelists. You must ensure your loyalty program will be valuable to your key stakeholders. With a strong plan in place with clear financial objectives, management is more likely to understand the benefits of your program and see that it warrants their support. When in the program design phase, take the following steps: There are several types of incentives to select from, including: Pick incentives that fit your budget and will motivate your […]
Top 2018 Corporate Wellness Trends
It’s that time – we are all gearing up for the new year already, getting through the holiday madness and planning for Q1. With all the busyness of the holiday season, health and wellness program participation tends to have a little bit of a decline, which is why staying up with the trends to entice your participants to get off to a good start next year is so important. When managing a successful corporate health and wellness program, it’s necessary to take ABE approach (Always Be Evolving) and work with a health and wellness incentive provider that understands services you are offering to assist them, and the appropriate incentives needed to modify the behavior to lift program uptake over last year. ABE is key to participation because they continuously need your active interest in their influencing motivation! Key considerations need to be reviewed every year to keep your workplace wellness program on track. Listed below is a handful of the top corporate wellness trends to incorporate into your program for 2018. This one’s a biggie. When presenting a more flexible work environment in exchange for program participation, you can bet that participants will be willing to engage. Offering teleworking or […]
Top Six Ways to Drive Higher Engagement in a Loyalty Marketing Program
Increasing engagement is at the top of every marketer’s list, and sales depend on it. Driving engagement is becoming more tedious and complex as technology advances, so you need to make sure your bases are covered to ensure marketing initiatives are successful in maintaining brand loyalty and you have aligned your brand with the right loyalty management partner. With years of experience in a growing, rapidly changing industry, All Digital Rewards continues to drive behavior and increase engagement with our Reward Management System, SaaS with Stack™. SaaS with Stack™, fully automated, cloud-based reward management system that is designed to offer real-time instant reward delivery. Putting the right reward management system into play will boost a program’s chances of being more successful. Once a loyalty platform solution is implemented you create financial and operational efficiencies that can drive real-time feedback that makes rewarding participants the easy part. Let’s face it – we all want to increases the lifetime value of our participants and turn even the most difficult participant into a real brand advocate. Our best customer is the one we already have. Below is six points to consider adding to your loyalty marketing campaign to drive user behavior, brand loyalty, […]
Build a Winning Loyalty Program Strategy For Your Panel
Creating a loyalty program for your panel is the foundation for increasing profitability and revenue by increasing panelist retention, survey frequency, and supporting panelist acquisition programs. Panel incentive programs, when done correctly, build brand advocacy and increases the lifetime value of the panelists. But to get to this point, you will need to have panelists to enroll and be engaged. Your program needs to capture all the necessary data because getting the critical insight into your panelist for your clients sets the stage for the goldmine of information needed for future panel projects. Let’s take a quick look at four basic building blocks of creating a great panel loyalty program strategy: objectives, gaining program support of key stakeholders, rewarding the participants, and measuring the program. Organizing the logistics of the panel is one of the most crucial steps in order to conduct a successful loyalty program. Below are a few examples of what can jump start the planning phase: Great, you planned your loyalty platform, so just find someone and prepare for launch! Unfortunately, it isn’t that easy. There are so many loyalty platform designers, ensuring you choose the right one is essential. A designer who takes shortcuts, doesn’t focus on […]
