Minority Business Sample Is Critical For Representative B2B Projects Minority-owned businesses are growing at a staggering rate in the U.S. They now represent over 33% of small businesses. This should come as no surprise to people in the market research industry as, demographically, the country has been changing for the past several decades. And because of this, as researchers, we know that we should be incorporating Minority Business sample into our sample-only studies.
A behind the scenes look at the importance of social media to building effective online panel communities Mario X. Carrasco (Managing Partner at ThinkNow Research) gave an interview with Online MR Magazine (July 2016 Edition) on the current state of the online panel industry, the challenges it faces, and how social media and other innovations are shaking things up. Read the full interview here.
Free Alternatives To Widely Adopted MR Tech A quick glimpse at the latest GRIT Report confirms the market research industry’s love for the most recent market research technology: While it is great that our industry embraces the newest technologies to help create more actionable and relevant insights for our clients, the issue lies in adopting market research specific technologies that can sometimes price you out of winning a bid. Or if won, could leave little profits to run your market research business.
Utilize existing non-research community platforms to harness the power of online communities at a lower cost Market research online communities allow market research companies an efficient and convenient way to reach a specific target audience. With the advantage they provide, why wouldn’t all companies invest in one? The trouble is, starting a community seems almost impossible to budget for small to medium size companies.
Thankfully Not The Hispanic Sample Industry…Yet. Much has been said about how poor panel practices are going to eventually lead to the exhaustion of the sample available from panels. From the latest GRIT report to the most recent CASRO conference, the bemoaning of response rates is hard to tune out, and rightfully so. As market researchers, this is definitely an area we can improve on. However, being in a niche sample industry, Hispanic sample, we have yet to feel the dire consequences of 40-minute surveys and constant spamming of our panelists.
The online sample industry started as an alternative to telephone sample, a high cost sample involving manual labor from the creation of the actual RDD sample to the execution of the survey utilizing interviewers. When the transition to online first happened, clients were happy to pay a reduced cost for online sample as it was saving a considerable amount of money in comparison to phone sample.