A couple of months ago, an opinion article in the Los Angeles Times spurred a discussion about the use of incentives and rewards in the market research space. As a result, both the AAPOR and the ASA made a formal statement recognizing the value of incentives as a tool for encouraging people to respond to surveys. Among other points, they said that incentives pay for themselves in the long run AND improve response rates. We’ve seen this first-hand in our work with market research clients. Researchers know that nonresponse threatens to “bias survey estimates” and weakens the data that is used for final insights.
Ways to improve survey response rates
- Implement the incentive or reward that resonates with their target respondent. For example, today’s consumer demand for speed and instantaneous delivery (on everything) has translated into the market research space. Survey response rates improve with virtual open loop rewards delivered digitally and via their mobile device.
- Have access to the latest technology to help streamline processes. This is best illustrated with our scalable reward API, which easily integrates with existing systems on the back-end and also allows for maximum engagement with target audiences by using granular level personalization and regular, automated communications.
- Stay up-to-date on the latest trends in the incentive landscape. Over the past few months, we’ve taken a deep dive into understanding consumer preferences when it comes to rewards and incentives. Through our research we looked at everything from which reward types people prefer all the way to how rewards changed behavior patterns. We specifically explored Millennial behaviors – these digital natives now make up the largest age group – and how their influence will change the way we incentivize. Taking this knowledge and applying it to respondent outreach in the market research industry will be important in the coming year.
At the core of our work with the market research industry is an understanding that you must provide an equitable exchange between the researcher and respondent: valuable incentives for valuable time and opinions. Our deep knowledge of the incentives and rewards space – seasoned by a historical perspective and a constant drive to innovate – can help to create the perfect solution to garner successful results. Here’s to a 2017 filled with success, innovations and engagement!