Market research is the lifeblood of every company that hopes to be successful. It can not only make for better products but it can significantly de-risk the creation of new ones if there is evidence to support its production. Marketing is much more than this, however, and it can provide an insight into similarities and traits that characterise your particular sector. Getting to reliable and trustworthy results that are of a high quality can, however, be very difficult to achieve. This means that when conducting market research an incentive must be given to the participant that persuades them to give up their free time and, most importantly, to answer as honestly and as fully as they can. It may stand to reason that the better the incentive, the better the quality of the information you may attain.
This can mean that incentive schemes that can be tailored to the desires of particular businesses are very desirable, particularly if they can significantly increase the amount of information that company possesses about a certain sector and even how the company’s brand is perceived.
Market research incentives must also use the best method of collecting the data, whether this is through survey completion or panel members. At Ovation Incentives, we can provide both methods that benefit from our experience and refinement until they are highly specialised on-point tools that can yield the sort of information that will transform your company and its potential. The cost of investing in these marketing research rewards far outweighs the potential damage that can be caused by the lack of reception of a new product. To this end, we have designed Our Universal Voucher System which aims to provide a fully branded environment that can maximise the ease with which incentivisation schemes can be initiated and managed. It is, of course, compatible with all other major panel management options including Nebu, UMS, MARSC and others meaning that the transition to using our platform is not a destructive one.
Of course, market research rewards and incentives like this have to be more than lip-service to the panel member. They must be worthy of the time and effort given up, yet, it must also not come at a significant cost to you as the client. We have a global range of gift cards and vouchers (including evouchers) all of which are localised so that anybody can take advantage. What this gives you is a global and localised insight into how your business is perceived and what the trends of the market are. This is potentially a gold mine of information that can increase business knowledge and could ultimately allow you to refine how your brand operates and interacts with various markets.
When it comes to truly global marketing, each sector has its own quirks and idiosyncrasies which must be observed. Research like this can help you to ascertain these cultural and social intricacies and adapt to them. Ultimately, this could endear your brand to a particular people because it is truly adapted to them.