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Top 5 Benefits of Online Panels

Top 5 Benefits of Online Panels

By Unimrkt 30/07/2021

Every brand, in today’s world, is required to conduct extensive market research to understand their audience better, their preferences better, and improve their products or services based on valuable insights. As a leading global market research firm, we, at Unimkrt Research, know how important online market research can be if the group of chosen respondents have the expertise required to give meaningful and extensive information. We have a team of high-quality panellists or respondents for B2B as well as B2C who can not only share valuable insights on your brand or products or services but can also influence your decision-making process.

An online market research panel is basically a group of pre-selected individuals who willingly participate in online market research studies, like focus group discussions or online surveys. They contribute to data collection and analysis in the sense that their data helps to draw meaningful inferences, that can further help you to understand what aspects of your business you are supposed to enhance or focus more on. There are several ways in which online panels can benefit your brand as well as your audience:

1) High-quality survey responses

Since online panels consist of respondents who have been exclusively chosen and verified using online fraud prevention tools and technology before beginning a survey, you get high-quality survey responses that can help you draw meaningful conclusions and insights. These insights, in turn, enable you to enhance your products or services based on their preferences and cater to their specific needs.

2) Cost-effective & less time consuming

Since you get responses from online respondents faster, an online market research panel saves time and also helps you begin the data analysis process quicker. Not only that, but an online market research panel also reduces market research costs to a significant extent, thereby turning out to be a cost-effective research method.

3) Better control over survey respondents

When you choose an online panel before carrying out a survey, you are already aware of their qualifications and expertise, which helps you get better control over them. In fact, they are already profiled, which means you have details related to their work, their hobbies, and interests in your database. In addition, it is also more convenient to contact them online and ask them for detailed explanations, which helps further in developing a solid understanding of your audience and their preferences. This is exactly why online panels are perfect for research studies that focus on sensitive topics.

4) Convenient incentivization process

Open communication is another benefit of online panels. Since you can communicate with your pre-selected respondents easily online, the incentivization process can also be carried out online, which is way more convenient than reaching out to each and every respondent in person.

5) Higher response rates and better engagement rate

Since online panels save time and reduce market research costs, you also get higher response rates. They can participate anytime and anywhere, which enables them to provide well-articulated and detailed information without rushing. It is more convenient to carry out an online market research study, so it also leads to better engagement rates.

As you can see, online panels are more convenient, transparent, and cost-effective. So, if you want to collaborate with a reliable market research firm that provides you with meaningful insights and a solid understanding of your target audience and their changing preferences through online market research, contact us. We have a B2C panel as well as a B2B panel, consisting of respondents from several industrial backgrounds. They have served as a heavy influence when it comes to brands improving their decision-making process, ranging from new product development to brand solutions.

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