Master The Skills Of Market Research Reward Program Strategy

The goal of every market research incentive program is to Engage, recruit, and motivate your market research panelists. Keeping your panelists excited about your surveys is a crucial aspect of your market research strategy! Market research incentive programs are an excellent way to motivate your panelists, boost survey completions, and it is an easy and cost-effective opportunity that every market research company should explore.

It’s clear that Incentive programs are one of the secrets to market research success. When looking at your market research strategy and how incentives benefit it, there are three essential components to include. These key elements were used by a leader in the Automotive Industry and a client of All Digital Rewards. 

Take the time to research what you’ve done in the past and what are the best practices going forward. If you have an existing program, identify the challenges you’ve faced in the past, so as not to repeat them. If it is a new program, conduct research within the industry and the participant demographic to see what will work. Find a balance between motivating initiatives and rewarding panelists, which in turn will create more excitement and participation among panelists.

To create successful market research incentive programs, you must identify your goals.  What is the desired growth? Is there a current program offered? What were last year’s survey completion numbers? These are some good starter questions to help you determine what the objectives are for your panel incentive programs strategy. Consider reevaluating your program and carefully make changes applying advanced technology to automate the program without confusing the participants and offering what they want most – rewards.

 You can have all the best intentions with a good strategy, know what you need to do but if you execute the incentive program incorrectly, your work will all be for nothing.  Make it easy for participants to access your program’s website via Single Sign On (SSO) thus eliminating the need to have panelists have multiple logins for each promotion.

It is important to remember that if you want to have continued success, your program managers will need to keep up with evolving technology and industry reward trends to keep participants engaged and motivation high.

All Digital Rewards is a leading market research engagement specialist that works directly with companies to design and support market research programs, and incentives. To learn more about how we can increase your market research panelist incentive program call 866-415-7703 or click here to schedule a demo and let our team of experts here at ADR help you succeed in your next market research incentive program.