Everything You Need to Know About Online Research Panels

Using Online Survey Panels is a great way to conduct market research in a quick and cost-effective manner. With more and more people spending most of their time online, shifting from in-person questionnaires to online surveys has improved convenience for researchers and allowed them to reach a large number of people within a short period. 

What is an Online Survey Panel?

An online survey panel is a sample of people who have agreed to complete surveys online. A group of respondents who take a survey consist of people who share similar traits who qualify for the survey. These people are brought together to answer an online survey about a specific research topic for an incentive. When determining and approaching your target panel, additional care must be taken by considering different cultural differences for both international and domestic studies.

This is the main reason why survey panels are profiled, verified, and screened for duplicates before they can be accepted into the panel and used for a particular study. Panelists provide their sensitive information to Online Panel Companies and their information is protected. Panelists are profiled and then sent invites for online surveys. For B2B surveys, you must speak to people of a specific profession, such as business decision-makers. 

For a B2C study, you will need to speak to people of a specific demographic or role who may be interested in your service or product. Online Survey Panel Companies can provide some sort of compensation to motivate panelists to answer a survey. The compensation may be in the form of points and credits, which are then converted to gift certificates or cash. The number of incentives provided depends on certain factors, such as the type and length of the survey. 

Why Are Online Research Panels Essential?

Technology has significantly changed how surveys are conducted. The internet has made it easy to reach out to a large number of potential panelists. Here are the ways in which online survey panels can enhance your market research study. 

• Since online panels are pre-screened and profiled properly, you can be assured of targeting the right audience to get accurate data. This accurate data can make it easy for you to know which areas of your business need improvement.
• Online research panels also allow you to dig deeper by their ability to use astute profiling to select panels through different filters. This may range from demographics like gender and age to more specific filters like employment and B2B decision-making. 
• When you use the appropriate panels, you can get more precise data and generate more beneficial insights. This is because you ask people questions that fit your intended target requirements. 
• A pre-screened panel and security measures minimizes the instances of duplication and forged profiles. You can also get authentic responses from people who take part in your business. This is true for both B2B and B2C online research.
• Online research surveys allow you to know exactly where your business is. This is because you can gauge your brand and company’s progress when you get the right insights from online reach panels. As a result, you can determine which steps must be taken to move in your desired direction. This contributes to more accurate and data driven decision-making, which can translate to more sales in the long run.

When you use a well-managed and verified online survey panel, you can capitalize on generating powerful insights and quality responses. Additionally, such a panel allows for faster response rates compared to other survey methods because the participants have already demonstrated their interest in joining online surveys, and they are already pre-screened for answering. 

How Are Online Research Panels Formed?

There are many ways to build online research panels. One of the ways to form online research panels is through proprietary panels. Proprietary panels allow panelists to be gathered through localized survey platforms. These are platforms promoted through social media, online ads, and search engines to keep the panels growing. 

On these platforms, the panelists share their personal data for verification. Their data is then kept safe. Another method of forming online research panels is through API integration. API platforms can be used to integrate verified partner panels into the system. These platforms can be used by various partner media companies, such as mobile apps and shopping websites. 

Another method of forming online Survey Panels is through third-party sources. Panel providers usually work with third-party sources if needed. The data from these sources must be passed through the providers through the screening and verification process. This helps in maintaining consistency and accurate results.