How to Choose the Right Panel Management Tool?

Today, every industry revolves around data that helps them to make better decisions, improve products, and generate ROI. It is only possible if they get the right feedback from the right survey participants. Going and connecting with each customer face-to-face and asking several questions is time-consuming and might not be a preferable option. Explore here how to Choose the Right Panel Management Tool.

In the fast-paced world of market research, businesses just do not require any data, they need genuine data that are effective enough to make a significant impact.

This is why businesses are turning to software that helps them to connect with the best panels across the globe to understand diverse customer’s needs and what they think about their product. 

One such prominent tool is panel management software that streamlines research operations to get the right insights from the right participants. Among several options, choosing the right panel management software can be a daunting task. 

To help businesses, our market research experts have provided some tips that help you choose the right panel management software. 

Let’s start with understanding what panel management software is. 

What is a Panel Management Software?

Panel management refers to the process of recruiting, managing, and incentivizing panelists for better research. 

However, managing the entire panel management workflow is crucial all at a time. Thus, businesses seek panel management software- a one-stop solution to recruit and connect with global and diverse panelists. From monitoring their activity to incentivizing them all can be done from this platform.

At OnGraph, we leverage our expertise to deliver custom and white-label panel management solutions for faster results. 

Factors to consider when choosing your panel management tool

In the highly evolving market research industry, having the right panel management software will guarantee your certainty. 

Here are some tips and factors for panel managers spearheading quality research and seeking panel management software.

1. User-Friendly interface

Not everyone is a research person and does not understand the research terms. If you want to conduct your in-house research look for panel software that has a simple interface and is easy to navigate. It will help you save research costs by eliminating the third party that does it for you. 

An easy-to-use platform not only improves the panelist’s surveying experience but also helps panel managers from recruiting to incentivizing the right panelists seamlessly.

2. Participant recruitment done right

Panel management software helps panel managers recruit participants from across the globe with ease. It helps them create their own panel or integrate third-party affiliates from trusted sources, guaranteeing their way to accurate information. They can use affiliate partners or advertisements to bring the right participants for client’s surveys. 

3. An intuitive dashboard- Admin and Panelists

This panel management software not only helps panel managers to track each panel and panelists’ activity but also helps panelists to check how they are doing.

From registering an account to redeeming rewards, and accessing surveys, a panelist can keep track of their earning and available surveys as per their profiling.

For a panel manager, it helps to track each respondent, pull panel performance reports, manage panel settings, approve reward redemption requests, and more.

4. Profiling participants for for better survey experience

No participants want to fill out irrelevant surveys and waste their time. So as a panel manager, how do you ensure a seamless survey experience for your participants?

Well, the answer is simple, you can use your panel management software to recruit them and profile them based on some profiling questions.

Participants will get the opportunity to set answers and based on those answers they will receive the survey suggestions. This will not only help participants but also keep your participant intact with long-term commitment. 

5. Instant reward for improved engagement

Engaging participants is the key to success and honest feedback. If their feedback is crucial, then why should they do it for free or at less cost?

So, to keep them engaged, a panel manager should come up with the right incentive strategy and a fair incentive amount to reduce bias and improve their effectiveness in completing surveys. 

In that case, panel management software with trusted reward integrations can help you build trust among participants and ensure long-term honesty.

A panel manager should create custom incentive programs with gift cards, products, or points to keep panelists engaged and motivated. Manage rewards with robust reward API integrations for instant and secure payouts for each completed session while retaining full control of incentives.

6. Participant’s data security 

Why should any participant connect with you if they feel insecure or their data is at risk? As a panel manager, it is your topmost priority to keep their data safe and make them feel secure.

Panel management software is the way to ensure industry-leading data security. Make sure your chosen tool has the right security measures in place with trusted fraud detection techniques to protect the survey and its goal. 

The panel manager must prioritize participant engagement and ensure data security with GDPR Compliant using admin controls.

Counter survey fraud with integrated solutions, like fingerprinting validation and mobile verifications, all working seamlessly behind the scenes.

7. Scalability to cater to different survey needs

Every business aims to scale in some time. They seek solutions that scale with their changing business demands. That is the same for the panel management tool.

It might be possible that with time you want to target new customer segments in new demographics. To cater to that your panel management solution must be able to give you the freedom to conduct more diverse sampling. 

This flexibility is important for businesses that want to expand their research initiatives without the constraints of outgrowing their chosen software solution.

8. Customization options for diverse survey sampling

There isn’t a single method that works for all research recruitment. Your panel management tool should allow customization.

For instance, you might want to limit how often someone can participate in a study within six months. This means you should be able to set specific rules for who gets invited.

Additionally, your tool should let you customize how you find participants. After creating detailed profiles from surveys, you’ll want to use specific filters to pick candidates that match your needs.

To understand, how your chosen panel management tool simplifies recruitment for you, you must Request a demo.

9. Reporting and analytics capabilities for bird-eye view

The true value of panel management software lies in its ability to translate raw data into actionable insights. Look for software that offers robust reporting and analytics features.

This means it should have real-time reports, customizable dashboards, and advanced analysis tools. Good software helps your team understand data better, giving your business an advantage in making smart choices.

To expedite your research, you must try pre-built and white-label project management software.

A Great Panel Management Tool Will Lead to Better Research

Businesses aspire to achieve better research outcomes. To make it happen they need a panel management tool that will help them connect diverse panel groups from different demographics that can contribute to their study and make a significant impact.

At OnGraph, our Market research experts have built an advanced AI-integrated panel management tool for our client that has helped them reach 1.2 Million+ in-house panelists and 34+ affiliate integrations for quick results. 

Connect with OnGraph, a leading Market Research Software Development Company, offering White Label Solutions for Market Research. Explore our wide range of market research solutions.