Thursday, November 21, 2013

6 Ways to Justify the Costs of Starting Your Own Panel


Overview


Creating and managing your own panel community and online portal doesn't have to be wishful thinking or too difficult to justify to other departments in your business or organization. If you are already conducting research projects, you may be spending a lot of resources time and too much money in areas where you could apply to doing it yourself in house. The budget needed per research project for managing sample/recruitment/rewards through outside vendors and 3rd party companies can be as much as $15,000 (Source: Rudly Raphael, President at qSample).

Having and managing a panel can provide your business or organization with a quick turnaround to address consumer perceptions and feedback. There is a great value from staying connected with your audience and the insights you gain help make better decisions and build better products and services moving forward. This proprietary information influences the direction of future research and development.

Having a well thought out plan and goals are important when justifying to others in your business why you should start a panel. Communicating what your business or organization will receive in return for the initial investment is often the most difficult part of planning. Taking on a panel solution can cost a lot of money and take a lot of time. It can also take a long time to migrate from old research processes to new. Everyone needs a way to justify the value of any business investment. How is panel going to effect your company in terms of cost?


6 Ways to Justify the Costs of Starting Your Own Panel


#1 View and analyze all of the investments in your business by answering the following questions:

  • Who are your employees?
  • Where is your headquarters?
  • Are your current projects successful?
  • Are there areas where you can improve current processes?
  • Is your business keeping current with advancing technology?
  • How will this change the overhead or bottom line?

#2 Prioritize initiatives and allocate funding based on the value for the department and company

A company that values research and development first can pitch the idea of panel much easier than a company that values sales first over research. It all depends on the hierarchy of the organization. Think how panel will help all departments moving forward and reshape the way you pitch the solution.

#3 Will this be a better decision sooner or later? Will this add to the bottom line?

Panel implementation has saved many of our clients a lot of time and money. Our clients using panel have reported being able to access data 2x faster and 10x cheaper than previous research methods over long term use. They also have the ability to gain immediate feedback on pressing issues.

#4 Predict the impact of changes and eliminate unneeded costs

Anytime you are implementing a new technology, do you need to layoff people? do you need to hire new people? do you need to move people around? is there old technology that is slowing the company down that you need to upgrade? These are all things to think about when implementing a panel solution. You can reduce a lot of waste and redundancy by managing everything in one place.

#5 Increase utilization levels of current systems and resources

A lot of times when we speak to clients they feel stuck. It is important to make sure you are getting the full value of the tool you are using. What does your current provider have and what can you utilize more? Are your current systems and resources able to roll out your wishes moving forward? Is your research moving forward with emerging technology trends?

#6 Balance value with possible risk

When you are taking on a panel, it can be a high risk. On the other hand, you have high rewards when you look at the end goal and big picture. Having a very clear and concise strategy will bring high rewards and payoff immensely.

“Panels are an ideal solution for companies whose customers are engaged in social media. In industries where your products are perceived as a commodity, panels are a standout way to differentiate.
If you can manage an online survey or your Facebook profile - you can manage a panel. It's as easy as clicking through a few profile selections, sending an email and that's it.”
Quote: Ivana Taylor (DIY Marketers



Monday, November 18, 2013

The Survey Results Are In: Are You Shopping This Black Friday?



Pictured above are the survey results from a short survey we conducted this November asking the general population if they plan to shop this Black Friday. The holiday shopping season is already well underway for many retailers. Many stores have already switched to the holiday soundtracks, and many people are seeking Black Friday deals and making Black Friday 2013 predictions. 

This Black Friday we will be conducting a mobile shopping survey in partnership with qSample and Ipsos. The Black Friday Shopping survey is being conducted through the SurveySwipe Smartphone survey app. A very short brief survey conducted prior to the study received 900 unique respondent completes. Of the 900 respondents, 620 (69%)  of them plan to go out shopping this Black Friday. Nearly 600 of the respondents that plan to shop on Black Friday will be participating in our mobile shopping survey for a small reward.

The other respondents do not plan to shop this Black Friday for these reasons:

  • 123 respondents do not shop on Black Friday because they do not like the crowds
  • 53 respondents are not going to shop on Black Friday because they have to work
  • 45 respondents think the deals on Black Friday are not worth it
  • 28 respondents will not shop this Black Friday because they plan to shop online 
 
In our Black Friday mobile shopping survey, users will be downloading the SurveySwipe app and completing a survey from their Smartphones. After completing the survey, users will receive a reward to thank them for their time and participation. Using our powerful mobile platform we have the ability to connect in real time with consumers as they shop on Black Friday. We will be asking participants to complete a survey and we will also be collecting passive data from their Smartphones.

Some of the breakthrough forms of data we will be collecting include:

  • App Usage (What Apps Smartphone Users Have Running this Black Friday)
  • Location (Moving/Shopping Travel Patterns Throughout the Day)
  • Images (Users Will Snap or Upload Images of Items Purchased on Black Friday)
  • Device Information (The Devices and Operating Systems Being Used to Take the Survey)

Mobile plays a big factor into holiday shopping for 2013. This recent infographic pictured below found on the Tapjoy Blog shows survey results of holiday shopping habits of mobile consumers. We will post the results from our Black Friday mobile shopping survey over Thanksgiving weekend.



Friday, November 15, 2013

Education Hour: New Mobile Features in Survey Analytics


In October Survey Analytics VP of Client Services Esther LaVielle presented a special Education Hour on some of the new mobile tools and featuresIn this presentation you will see some of the powerful and newer mobile features for SurveyPocket and SurveySwipe. This education hour goes over mobile research capabilities and is followed by a live demonstration of how you can enable these features today.


SurveyPocket Education Topics:



  • View Incomplete Surveys and Go Back and Complete Them in SurveyPocket
  • Send Push Notifications to the Team in the Field
  • Mobile Data Visualization Dashboards in SurveyPocket
  • SurveyPocket Help Videos
  • Custom Themes - Set Your Own Font and Background Colors or Background Images


SurveySwipe Education Topics: 


  • SurveySwipe White Labeled Apps
  • Online and Mobile Panel Recruitment Portals
  • The SurveySwipe Software Development Kit

Monday, November 4, 2013

Feature Spotlight: Data Segmentation


In Survey Analytics, data segmentation is simple. Today's feature spotlight demonstrates how you can save hours of time when drilling down and performing data segmentation right in your account. Traditional and still very common ways of segmenting data require you to export it and perform a series of very time consuming filters in Excel with a .csv file. Our data segmentation tool not only makes it simple to set data filters, but it is simple to export the data you need into raw data, Excel, Word or PowerPoint formats. You can also view the filtered results in interactive real-time summaries or custom dashboard views. Data filters in Survey Analytics range from from time based criteria, custom variables/system variables, geolocation, language,  e-mail list and more. The data filters can also be refreshed and in real time will show the updated information.


Data Segmentation Helps Face the Following Challenges:


  • Understand your survey response sources
  • Define market segmentation 
  • Draw more accurate conclusions
  • Combine multiple surveys into one
  • Filter data quickly and painlessly
  • Deliver targeted solutions and communication

Another popular method for defining a data source is by running cross tabulations. You may be asking yourself - what's the difference between data segmentation and running cross tabulations? In cross tabs you are only looking at specific questions from specific sources of answers (i.e. display answers from x value in question x only -or display answers from people age 30 and under as answered in question number two). Cross tabulations are simple and fast but are not designed for filtering multiple data sources. Data segmentation is much more powerful and customizable showing you only the data you specify (i.e. you can see data that comes from x location at x time with x value defined - or display answers from California between 12PM - 4PM PST on this date from people that are under 30 as answered in question number two and make over 50K salary annually as answered in question number three). Watch a short video tutorial of how you can segment your data presented by Survey Analytics VP of Client Services Esther LaVielle below:



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