The times they are a-changin’. Little known fact: Bob Dylan was singing about market research. Market research is changing, and smart businesses are seizing the opportunity to use smartphones to gather data in a timely, efficient way. There are two options when conducting market research in the mobile world: in-app surveys and mobile-optimized surveys that are housed on a webpage and accessed from a smartphone. According to eMarketer, the average adult spends 131 minutes a day accessing content through a mobile app, yet only 26 minutes using their phone to connect to the internet. Keep reading for more reasons why mobile panels online are the future of market research.
Panel research, a method of collecting data repeatedly from a pre-recruited set of people, is extremely important in the market research world. These individuals generally provide demographic, household and behavioral data, which can make conducting future studies easier. Technology, primarily the internet, has transformed panel research methodology by the ease of which we can access larger numbers of respondents. Panel research provides many advantages for companies including: faster turnaround, higher participation rates, and cost savings. The quantitative data can provide companies with insights into pricing, effectiveness and sales projection of their products or brand.
QUALITY: The quality of your data matters. According to a report by comScore, the average American adult spends 2 hours, 51 minutes on their smartphone every day. By using mobile panels online, you are able to get reliable data, as it’s in real time, while the information is fresh in the respondent’s mind. They can also use their mobile devices to take pictures and videos that allow you to gather the exact information you’re looking for.
RESPONSE RATE: As we’ve discussed, everyone is glued to their mobile phones. Mobile panels online have less than a 25% dropout rate because you’re able to access respondents whenever, wherever, so it is easy for them to take the survey. With mobile, you can send push notifications to your panel that there is a survey available for them, then follow-up reminder emails. Studies have found that survey notifications increase response rates by 4-29 percentage points, and reminder emails have been shown to increase response rates by 3-8 points.
TRACKER SURVEYS: Tracker surveys are a great way to gain insight into purchase behavior, brand sentiment, product awareness and customer satisfaction. Tracker studies require ongoing interactions with respondents and getting their feedback over a period of time. In older survey research where landline surveys or focus groups were used, it was difficult to get accurate data, because it was dependent on the respondent’s memory. With online mobile panels, you are able to get real-time responses and ongoing feedback.