ROI of Custom Panels and Private Communities

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  • ROI of Custom Panels and Private Communities

    1. 1. ROI of Custom Panels & Private Communities Jeff Schaeffler: Marketing Director – Vision Critical Tuesday, November 18th, 2008 2:00pm (EST) / 11:00am (PST) Katy Milton: Account Director – Vision Critical Tim Olafson: Executive VP Public Affairs – Angus Reid Strategies Laura Davies: VP Panel Strategy – Vision Critical
    2. 2. <ul><li>Introduction </li></ul><ul><li>Can I Open My Eyes Yet? </li></ul><ul><ul><ul><li>Staying Connected </li></ul></ul></ul><ul><ul><ul><li>What’s The ROI of Customer Panels? </li></ul></ul></ul><ul><li>Are Companies Sacrificing Quality For Cost? </li></ul><ul><li>Sound’s Good But How Do You Do This? </li></ul><ul><li>Introduce Vision Critical </li></ul><ul><li>Q / A </li></ul>Agenda
    3. 3. Can I Open My Eyes Yet?
    4. 4. Consumers Become Unrecognizable
    5. 5. Which Is More Valuable? Or
    6. 6. Which Is More Valuable? Or
    7. 7. Necessity or Luxury?
    8. 8. You Can’t Afford to be Wrong
    9. 9. Staying Connected
    10. 10. Keep Up with Changing Consumer
    11. 11. New Tools for Consumer Research
    12. 12. Recession Proof Mkt. Research <ul><li>If you don’t have a panel, get one </li></ul><ul><li>Reduce your sample size </li></ul><ul><li>Focus on existing customers </li></ul><ul><li>Test hypothesis with your panel before fielding study </li></ul><ul><li>Harness web 2.0 like panels for data distribution </li></ul><ul><li>Become center of excellence for online surveys </li></ul><ul><li>Create an omnibus the entire company can use </li></ul>
    13. 13. What’s The ROI of Customer Panels?
    14. 14. Custom Panel Defined <ul><li>A custom online panel is targeted group of customers (or potentials) whom you engage with and learn from over time. </li></ul><ul><ul><ul><ul><li>Typically quantitative (surveys) </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Two-way private feedback </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Topics and studies controlled by company </li></ul></ul></ul></ul><ul><ul><ul><ul><li>1,000’s or 10,000’s of panelists </li></ul></ul></ul></ul>
    15. 15. The ROI Of Customer Panel <ul><li>Save Money </li></ul><ul><li>Generate Revenue </li></ul><ul><li>Retain Customers </li></ul><ul><li>Gain Efficiencies </li></ul>
    16. 16. Case Study – Save Money <ul><li>“Since March 2007, USA TODAY found their custom </li></ul><ul><li>panel has helped the company save over $650,000 , </li></ul><ul><li>win new business and allow the market research team </li></ul><ul><li>become more flexible.” </li></ul>
    17. 17. Case Study – Generate Revenue <ul><li>“During the Q4 research cycle in 2007, the panel </li></ul><ul><li>generated two product ideas which went on to become </li></ul><ul><li>highly successful staple offerings . In one example, </li></ul><ul><li>sales increased 400%.” </li></ul>Book and Music Retailer complementing their loyalty program with a custom online panel
    18. 18. Case Study – Retain Customers <ul><li>“Three ad effectiveness and brand image studies </li></ul><ul><li>resulted in renewal of $21.3 million in business from </li></ul><ul><li>two core automotive accounts. All three studies went </li></ul><ul><li>from discussion to delivery of results in less than four </li></ul><ul><li>weeks.” </li></ul>
    19. 19. Case Study – Gain Efficiencies <ul><li>“The ability to send out more surveys has permitted the </li></ul><ul><li>MLB to double its field research efforts and get a </li></ul><ul><li>faster turnaround as results arrive in hours rather than </li></ul><ul><li>weeks, 80-85% of feedback within the first 36 hours .” </li></ul>
    20. 20. Are Companies Sacrificing Quality For Cost?
    21. 21. Is the Data Accurate?
    22. 22. Results -13 11% 10% 21% 23% 35% Segma (8) Phone -11 11% 10% 18% 28% 33% Strategic Counsel (7) Phone -9 8% 10% 21% 27% 34% Nanos (6) Phone -9 9% 11% 19% 25% 34% Harris/Decima (5) Phone -9 8% 9% 18% 29% 34% Ipsos-Reid (4) Phone -9 9% 8% 20% 27% 36% Leger Marketing (3) Phone -7 10% 10% 19% 26% 35% Ekos (2) IVR -5 7% 9% 20% 27% 37% Angus Reid (1) (Online) 7% 10% 18% 26% 38% 2008 Election Result Difference Green Party Bloc Québécois New Democratic Party Liberal Party Conservative Party
    23. 23. Is The Data Accurate & Relevant
    24. 24. Is The Data Accurate & Relevant
    25. 25. Is The Data Accurate & Relevant
    26. 26. Election Polling: Tracking Parties
    27. 27. Sounds Good But How Do You Create A Great Panel?
    28. 28. <ul><li>Which you dip into to create your samples… </li></ul><ul><li>Sample actively by using profiling data to draw out the right people in the right proportions. </li></ul><ul><li>Need enough people to ensure minimum sample sizes in your key segments / sample cells </li></ul>A Panel is a Pool
    29. 29. Good Composition Having the right distribution is more important than the overall size.
    30. 30. Recruit intelligently: quality over quantity Targeting Recruitment If the priority is to be able to draw a larger representative sample  Grow your panel core If the priority is to be able to draw more samples within particular audience segments  Grow your panel periphery
    31. 31. Another way to maximise the return on panel investment Deeper Profiling
    32. 32. <ul><li>An engaged panel member is: </li></ul><ul><li>More responsive </li></ul><ul><li>More thoughtful </li></ul><ul><li>More accurate </li></ul><ul><li>Less likely to drop off (lower ongoing recruitment costs) </li></ul>Greater Engagement
    33. 33. <ul><li>The tone of your communications: showing respect and appreciation goes a long way. </li></ul><ul><li>Virtuous circle: demonstrate the value of the research by sharing back findings where you can. </li></ul><ul><li>Use ‘incentives’ you already have access to. </li></ul><ul><li>Use them! Your members want to participate, if you ignore them the relationship fades. </li></ul><ul><li>But don’t abuse them! Don’t ask your members to do over-onerous tasks. </li></ul>Incentives – not just about $$$
    34. 34. Panel management is about the whole program Panel Program
    35. 35. How Do You Save Time Managing The Panel?
    36. 36. Save Time – Programming Studies
    37. 37. Save Time – Managing the Panel
    38. 38. Save Time - Question Library
    39. 39. Save Time – Visual Questions
    40. 40. Save Time - Drag & Drop Reporting
    41. 41. Who Are We?
    42. 42. Who Is Vision Critical? <ul><li>Leader in custom panels, private communities and interactive research </li></ul><ul><li>Started in 2000, now 150+ clients, 225+ panels, 130+ people </li></ul><ul><li>Led by NA research authority Dr. Angus Reid </li></ul><ul><li>Offices in London, New York, San Francisco, Vancouver and Toronto </li></ul>Panel Strategy + Management Visual Surveys + Media Questions Custom Panels + Reporting Interactive Shelfsets + Simulated Shopping Environments Private Community Moderation + Development Sparq
    43. 43. 150+ Clients around World
    44. 44. Q / A
    45. 45. Thanks

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