User:Sauravmishrairs/sandbox

Market Research Survey Panel (iResearch Services)

In today’s competitive climate, businesses are always on the lookout for strategic advantages that they can leverage over the competition. Effective market research is one such avenue. To conduct a viable and sustainable market research program, one of the fundamental ingredients is the ability to collect actionable data from a pool of respondents.

An online survey panel is nothing but a pre-recruited pool of respondents that have, in principle, agreed to give u feedback about your business processes, products, services, etc. Online survey panels are not much different than focus groups – except that focus groups tend to be much smaller in size and online panels are usually much larger and usually comprised of a wider variety of respondents.

How are online survey panels different than sending surveys to your customers? – In principle, the members of an online survey panel represent the industry or market segment that you sell products and services to, whereas collecting data from your customers does not take into account the views of non – customers. Collecting market research data from existing customers may bias your research and that is the reason online survey panels provide a more accurate representation.

Importance of panel 1.	Research Quality - The most important fact that addresses quality in any data – collection exercise is the sample – the pool of respondents that actually give you feedback. The bottom line fact is that the quality of your data is only as good as the quality and representation of the users taking the survey. With an online panel that is recruited and managed by you – you are in control of the sample and hence the quality.

2.	Less Workforce – Another important benefit of having an online panel is it reduces your workforce, thus reducing the efforts of accounts, hr, manager and a team leader and ultimately cutting your company’s cost.

3.	Greater Conversion – Having online panelists ensures greater feedback than convincing them via phone.

4.	Reduce time frame – Having online panelists not only reduces your project execution time but also makes a path to handle more projects, thus improving the business of the company.

iResearch Services Pvt. Ltd.research is a service provider for Market Research operations.

Market Research Panel,

As per my understanding the market research industry has evolved in many ways since 1923, I believe the first firm was A.C Nielsen.