The End Of The Panel, The Start Of A ‘Data Relationship’

You may well be thinking “another article on panels with a ‘dun dun duuuunn’ headline” right? Sort of, but give me 4 minutes to explain why….

There is a lot of talk at conferences, in webinars and alike around the future of panels. In my opinion, the core overview of what online panels will develop into is yet to emerge – it’s in a transitional state.

- Sticking with tradition
At the moment we have the traditional ‘opted in’ online panel approach, where response rates are dropping and incentives have been squeezed to within an inch of their life.

- The new(ish) kid on the block
‘River sampling’ brings an element of convenience, recruiting sample via online adverts, but also an element of uncertainty regarding the type of sample it attracts. This new form of respondent brings a whole new raft of problems on validation and quality.

These two approaches are then coupled with a number of fragmented methodologies that hover around the panel to glean other streams of data, i.e. passive metering, location, in the moment and vox pops etc.

- Where’s the consistency?
With no real consistent and collaborated proposition, this damages the relationship with the panellists, as they are constantly having to download third party apps and amend their phone settings…far from ideal!

- Confused?
This can all get quite confusing for panellist, but it doesn’t need to be.
In its simplest form, we are asking people to share their data. Whether that’s opinions, usage or location – we want it all. So why don’t we just call this what it is….a ‘data relationship’.

A Data Relationship
Through the technology we have developed, this is exactly what we offer to a panellist – a ‘data relationship’. It is a clear and transparent proposition that allows us to tap into 'actual' and 'in the moment' behaviour....as opposed to relying on 'recall'.

In light of this transition, I thought I’d share 4 key points on what I feel the next few years look like for the ‘panel industry’ and, unsurprisingly, it’s the strategy we have been following for the past year and will continue to do so.

1. Quality over Quantity
Panels will be smaller and will be able to source multiple streams of data….The ‘We have ’70 hundred million billion’ panellists’ strap-line that all panel companies have is now irrelevant. It’s more about the relationship you have with these people and how much data they are willing to share with you.

2. Marital Harmony
Excellent customer service to your members is imperative – do not underestimate this. Think of it like a marriage, if you want them to share all of their data, you need to build a trusting relationship, if they contact you, they expect an immediate response.
Develop a good service-level agreement and live by it, this means a higher investment is required to manage your panel, but it’s not something to scrimp on.

3. Any old App isn’t going to cut it
95% of all of this additional data will be coming through smart devices, so panels need an app that holds the relevant technology – end of story. But not an app from 2010, space on a consumers’ phone is a fierce fight. The app needs to have the UX of Facebook and the UI of Uber – anything less and there will be an instant disconnect.

4. Show their worth
Value exchange will be key – As these streams of data become available we (the panel industry) can choose how much we want to charge for accessing this data. When creating this cost add a hefty incentive for your members, so they really feel valued for sharing their data. Once this is decided, never lower it.

 The title of this blog says ‘end of the panel’, but I suppose it’s more of a ‘makeover’ – showcasing how much more value panellists can offer if you treat them right.

Will we keep calling our panel a panel? Yes, probably (for now) as that’s what the industry refers to them as.

But a ‘makeover’ of this methodology is surely on the cards… and I predict it’s sooner than you think.