Market research executives are constantly seeking effective ways to increase panel recruitment and new market research panel management methods. Incentive programs are a great way to encourage participation and retain panelists. This article will discuss the top four incentive programs implemented by market research strategists, including cash incentives, points-based rewards programs, sweepstakes and contests, and loyalty programs. Many of these programs can also use AI to improve strategy and generate favorable results. We will also provide recommendations for each program’s most favored rewards and payments. Cash Incentives Cash incentives are one of the most popular incentives for market research participants. They are typically offered as rewards and incentives for survey participants, focus groups, and other research activities. The amount of cash incentive provided depends on the complexity and length of the study. AI can assist market research strategists with setting appropriate cash incentives. By analyzing data from previous studies, AI can suggest the right amount of cash incentives to bolster panel recruitment. This helps panel managers to ensure that they are offering a suitable amount of compensation without overspending. Our recommendations for the most favored rewards are: Points-Based Rewards Programs Points-based rewards programs leverage incentive and reward management systems. They […]

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