Services to Expect from Market Research Panel Companies
You can only gain a competitive edge in your field as a business or company owner through proper market research. It is a vital process that enables you to understand your target audience and empowers you to place your brand in the right segment. This is why many companies spend their resources hiring Market Research Panel Companies like Slice MR.
By outsourcing these services, your company will save operational costs and enhance its operational efficiency. However, before partnering with an online panel company, it’s crucial to understand what they can offer. It will help you choose a provider who best suits your needs when it comes to boosting your practice. The services rendered by these companies include the following:
Market Research
An ideal market research panel company has everything it takes to capture relevant data from different resources. In addition, the team will possess the right skill sets to get the desired results for you. That means you’ll have a dedicated professional with the proper knowledge and experience to do extensive online research to meet your objectives.
List Building
Market research often identifies the demography of your target audience while giving you valuable data on their behaviour through online surveys. In this case, Online Panel Companies provide you the ability to reach your target audience to provide you with accurate data. This may suppliment your existing client lists which online panel companies can also help you send surveys to. The online panel company may clean your existing cIient lists as well. This will enable you to have a well-crafted mailing list as part of your market research efforts. Your provider will work on the research data and filter out the mailing list data.
Data Cleaning
Market research brings about raw data from different resources. Processing this data is the only way to obtain valuable insights for your operations. Luckily, panel providers handle the data cleansing as part of the contract. They compile all the details in a uniform format, sort out inconsistencies and duplicate entries, and then present the analysis in a ready-to-use format.
Data Enrichment
Some market research providers offer data enrichment as part of the contract. It involves adding value to the existing data through further research on related subjects. They then use this additional information to help you identify the marketing strategies that can boost your bottom line.
Web Research
Market research data is often collected through online survey panels, but some providers will walk the extra yard to help you leverage the power of the internet in your research efforts. This helps you to obtain rich industry insight, statistics, and other relevant data.
Customer Research
In this case, the provider gathers information concerning customers. This information is vital for the growth of your business, and it can be obtained through feedback forms or phone surveys. The provider sends the survey form to the customer to determine how satisfied they are with a product or service they are getting from your venture. It is also useful when checking customers’ behavior when prices fluctuate.
Risk Analysis
Risk analysis defines and analyzes the anticipated risk to any venture. It is often expressed through an analysis report combining quantitative and qualitative risks. In this case, Online Survey Panel Companies use quantitative risk analysis to identify the number of adverse events and losses. They then use the analysis to help you make well-informed decisions on risk mitigation.
Gap Analysis
Gap analysis differentiates actual performance and desired performance. It can exist on the supply or demand side, depending on the circumstance. You can outsource market research services for fair and accurate gap analysis. The data gathered will help you close the gaps by reconsidering your offerings to ensure the cost and services meet customer expectations.
Product Research
Online Panel companies use product research to help you understand customer sentiments regarding your brand. Then, they set questionnaires that help you get answers to improvise the product as per the customers’ expectations and help you refine new product ideas. The providers can do it through online surveys available to the existing product users and potential customers. Furthermore, the survey can be customized per the target audience to get maximum response rates.
Slice MR is one of the most reliable full-service market research panel companies providing a wide range of services to accommodate all businesses and organizations. In addition, we provide quantitative data collection solutions to help you advance your operations and gain a competitive edge. Feel free to contact our providers to see how we can help with your next project.
