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 […]
Tag: Market Research
Cash Vs Blended Incentive Model: What Performs Better?
The following is a case study regarding a leading global market research company’s incentive reward program. They own and operate multiple research panels that deploy different incentives and delivery mechanisms to recruit, engage and retain panelists for research projects and programs. They actively engage millions of members with various client projects and programs. They have been a client of All Digital Rewards since 2012. All Digital Rewards approached the client to move off a pure cash-incentive-spend to a blended-reward-incentive mix of cash, prepaid debit cards, merchandise, and to apply advanced technologies to achieve a reduction in the overall program cash loyalty spend on incentives while at the same time improving customer experience, efficiencies in reward delivery, analytics and reporting. The client agreed to move one reward program to a blended reward mix. All Digital Rewards recommended an incentive program change due to All Digital Rewards operating other loyalty programs for clients with a blended methodology and saving over of 18% or more on their cash incentive spend and felt that if this client applied the same methodologies to their other programs they would realize substantial savings. A cash-based reward program is where the end-user, upon completing a qualifying market research […]
Top 5 Panel Recruitment Promotions that Work in Market Research
Recruitment promotions are easier said than done. But, here’s the golden question. How can you get more customers? What can you do to attract new customers and have them coming back? Today, we’ll talk about digital to cash-based rewards, open vs. closed loop recruitment, leveraging recognized brands, and promotions that bring customers in and keep them. I want you to keep two questions in mind that will work for you. What can you offer that will actually be wanted by customers, and have your customers coming back? And, what is in demand and how do we give this insight? Look for brands who do this well and look to them for example. Leverage those recognized brands. These questions, if answered correctly, will guide you to a successful recruitment promotion. Here are the top 5-panel recruitment promotions that work in market research. Digital rewards are rewards that you can send, receive, and download online. Whether it is movie tickets, travel promo codes, or even fuel rewards, consumers are eating them up. Digital rewards are booming because they play into the consumer’s need for instant gratification. Give them what they want, quickly, and they will be more willing to create a […]
