Market Research online Community

Market Researchers and Suppliers of Market Research have, readily available, the techniques and methods to be leaders in any vertical and/or niche market they decide to research and disseminate information to. Due to accelerating market dynamics, the information and feedback on the products they research is increasingly becoming a commodity. These researchers have, over time, become accustomed to the least expensive, quickest provider approach to get this information as it has become part of the process/chain, not the value add. ‘Quick/inexpensive information’ has been the catalyst for Online communities becoming a proliferating element in the industry. They are being established by anyone that has the names, a reward program and lastly a traditional ‘acquire vs. attrition’ costs/basis. Some wait to see if the novelty and statistical viability will pan out, while some will/have staked their complete businesses on this method. There’s value in waiting until the others make the mistakes and spend the money, as well as the value in being first to market with a new approach.

The following is a blueprint of how to implement an market research online community. A panel’s needs will evolve and you need to find opportunities in areas that are completely unknown at beginning point in the process. First, we will focus on creating the basics, the foundation needed to build upon and scale from. This first phase will have a few key visions to stay the course, but keep in focus the eventual maturing of a business. Subsequent phases will focus on those additional opportunities as well as maintaining the maturity of a business that will eventually be a keystone in a market research business model.

Now, let’s understand this vision in a more formal and actionable format.

At the top-level, an online panel and the components which support this entity will satisfy the following points regarding the build out and sustainable structure for the following 12-18 months.

• Create an entity that is transparent to those who access our respondent services as well as those who participate as panelists

• Create a clear/effective respondent relationship management program

• Create and maintain an effective process by which to build and accurately measure