Incentives for Research Panel Members

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Incentives for Research Panel Members - Best Practices

The best practices for offering incentives to research panel members include rewarding every action panel members complete survey, the optimal reward is a digital gift card.

Reward every action panel members complete survey

  • Reward each action panel members complete survey. Research panels should be able to reward panel members during the sign-up and profiling stages.
  • The compensation could be a small amount, like $2 and $3 Amazon cards, which would motivate and make panel members feel valued and aspire to continue participating.
  • Some research panels that apply this best practice when offering incentives include QuestionPro and Qualtric

The optimal reward is a digital gift card.

  • Research panels should offer digital cards as their optimal reward. These cards are easy to send and "well-received by participants."
  • Panels should provide famous brands that are important and country-specific. Qualtrics combines with Tangocard and Giftbi to offer these rewards.
  • Some research panels that apply this best practice when offering incentives include Qualtric and OpinionPanel.

Easy reward process

  • Another best practice for offering incentives to research panel members involves an easy reward process. Panels should offer transparent communications around their rewards to enable members to know what to expect and when.
  • Some research panels that apply this best practice when offering incentives include TGM Panel, survey to earn and Qualtric.

Research strategy

To provide the best practices for offering incentives to research panel members to motivate them to complete surveys, the team started by exploring information on the topic from articles that are written by business experts, research panels websites and other relevant industry leaders. We made sure that all the articles that we referred to were from credible sources such as research panels websites and other relevant industry leaders. We then corroborated the information across multiple research panel websites. Since the incentives are practiced by the key players in the research panel, we were able to conclude that the practices that we have used for this research are the "best practices". This applies to each best practice identified above.

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Incentives for Research Panel Members - Case Studies

DocPIES and SurveyMonkey are two survey platforms that have successfully motivated their panel members using very small incentives.

DocPIES

  • DocPIES, a doctor/patient interview, education and survey tool, has been highlighted across multiple survey and incentives publications as a survey platform that has obtained significant success in motivating panel member participation with relatively small incentives.
  • Specifically, DocPIES offers survey respondents a guaranteed $1.99 Redbox movie rental coupon, using the service txtMovies, for each survey completed.
  • Notably, the use of a small, yet meaningful and guaranteed benefit significantly improves panelist response rates to surveys on the tool.
  • For example, when DocPIES uses this small incentive, the platform sees a 77% increase in the click rate of their survey email invitation and a 326% increase in survey response rates.

SurveyMonkey

  • SurveyMonkey, an online survey development tool and service, has similarly been highlighted across a variety of publications for their experience and expertise in designing survey incentives that yield significant returns for the companies that use their tool.
  • Although SurveyMonkey has a variety of incentive schemes more generally, as well as specifically with the use of Amazon gift cards, one more widely discussed approach is SurveyMonkey's award of one $100 Amazon gift card to one winner across an entire group of surveys and survey respondents.
  • Although $100 may seem like a significant investment, the cost to the survey platform and its clients is minimal when used to incentivize a larger number of participants across a large number of surveys.
  • Moreover, while the chance of winning may be low for a participant, the structure of these incentives naturally rewards those who participate in the surveys most frequently, and thereby drives up response rates.
  • Notably, SurveyMonkey has found that Amazon gift cards are the "second most desired" incentive by survey panelists, and that the strategic use of these gift cards significantly improves response rates, even in such sweepstakes formats.
  • Additionally, while more detailed client success metrics by survey are proprietary, SurveyMonkey has reported that its use of $100 Amazon gift cards for groups of surveys not only has significantly improved response rates, but has created a pool of regular survey respondents, who habitually participate in the platform's surveys on an ongoing basis.
Sources
Sources