If you have ever tried conducting market research for your business on your own, you probably have firsthand experience of how difficult it is to get a healthy number of people to take part in the study.
There really is no point in going through all the hassles of conducting research when you do not have a significant number of participants to conduct the research on.
You need enough participants and data to give validation to the findings of your research. And getting significant results is kind of what every researcher—whether they are independent or part of a digital marketing agency—strives for. If you are a business owner, an independent market researcher, or a digital marketing agency professional looking for ways to get more people to participate in your study, keep on reading because we have you covered.
Rewards and Incentives
People might not be willing to be a part of your study for free, but they might change their minds about things when given an incentive or a reward of some sort. The reason why this works is that the participants feel that whatever effort and time they are putting in to help you prove the purpose of the study is being acknowledged.
And lets face it. Unless it is a Facebook test to find out what breed of dog you are, nobody wants to take time to participate and give you information.
While choosing to reward people is the easy part, the difficult part is deciding what incentives or rewards you should give to your participants. Most market researchers stick to simple cash payments because, well, everyone loves a little bit of extra cash on the side.
The participants know that their efforts are being recognized, and hence, they will be more willing to participate.
However, some market researchers opt to be a little more creative with their rewards. They believe that why just stick to monetary incentives when you have so many other cool options to pick from?
There are other ways to encourage people to be excited about the study.
Games and books, movie tickets, gift vouchers, etc., can also be used as incentives and rewards to encourage market research participation. All of these can be offered online and can be integrated into your digital marketing campaigns.
The participants of today, especially the younger ones, are actually pretty keen on this idea.
The number one key is to make it valuable to your participants while also relating it to your business.
So, if you are in ecommerce, why not offer them a free product sample?
The Action Plan
Once a market researcher has decided what rewards they would like to give to the participants, the next problem is how to do that? Sure, there is the option of physically handing out the incentives to the participants, but this can only be done when there are just a limited number of participants to handle.
Just researching 1 topic could involve hundreds and hundreds of participants because the greater the number of people participating in your study, the more valuable your results will actually be.
So a physical reward and incentive platform may not be convenient at all.
Thankfully, the internet and digital marketing platforms have made the lives of market researchers quite easy! They can now conveniently offer several different types of rewards and incentives to their participants irrespective of how many they may be in number.
It’s quick, easy, and efficient for both the researchers and the study participants to complete the market research and pay/receive rewards or incentives online rather than physically conducting these activities.
Interested market researchers can look up e-rewards online and choose one according to their needs and budget. It’s a win-win for all!