Why is Panel Management important?
CPG and DTC brands are always hungry for qualitative insights around their consumers, and online panels remain one of the best ways to gain valuable perspective on the interests and needs of targeted consumers. When a business commissions a consumer survey, it falls on the online panel operations industry to deliver—with quality, speed, and in a cost-effective way.
In an increasingly crowded market, panel operators need the tools to help them stand out. With so many alternatives to panel sharing platforms, VectorScient’s AI-based solutions can help panel operators meet challenging customer demands while ensuring their operations pipeline remains highly competitive, organized, and optimized on costs.
The Challenge we see
Online panel operators inevitably recruit thousands—if not millions—of individual panelists in various niche areas over time. Meeting your client’s survey expectations with speed, quality, and efficiency requires a deep understanding of the panelists inside and outside your pipeline.
Without those insights, panel operators invariably face increased acquisition costs, increased dependence on vendor completes and the need for greater panelist incentives—all direct contributors to lower margins and lost revenue potential.
The VectorScient Solution
PredictAlly™ for Panel Operations Management analyzes each panelist for their survey activity profile, survey topics attempted, clicked, completed, etc. It also analyzes the quality of active engagement and performs incentive redemption analysis to derive a panelist’s motivation to take a survey.
Using PredictAlly™, we can help you predict a panelist’s likelihood to respond or complete a given survey, as well as understand how many incentive points you should allocate to make a complete more certain.
Predictive recommendations for tactical survey sampling
Predictive likelihood of
each survey respondent
Dynamic incentive
points to offer
Incentive elasticity
by market
A strategic compass for gauging the holistic
performance of panel management
Panelist Performance Dashboard
A visualization dashboard tracking all KPIs to help you determine the overall health of your panel management business. By evaluating the cost impacts of acquiring new panelists and providing useful incentives, you can measure overall completion rates from in-house panelists and reduce your dependency on external vendors, effectively maximizing your margins.
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Panelist Lifetime Value
Panelist Lifetime Value measures panelist value over time and compares it to historical benchmarks. This helps you understand which panelist segments are not delivering maximum value and where they may be falling short.
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Panelist Churn
Panelist Churn shows the rate of inactivity and measures the churn of the panelists over time, comparing those data points to historical benchmarks. This helps you gauge whether panelists are engaged with the right surveys at the right time, in addition to providing actionable insights to help you reduce panelist churn.
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