Here are four important questions you should ask your client before collecting price quotes from various panel management platform suppliers:

1.) Why do your clients want to build a panel?

You may find it’s because they’re attracted to the economical model of owning their own panel compared to buying outside sample for their research studies. Or you may discover it’s because they want to access their customer list or database for more frequent studies. It’s essential to identify if your client is looking to build a fresh panel, or if they really want to migrate an existing asset into a more formal panel, as both require a different approach. Of course, they may only be asking because they hear other companies or brands have had success with their own private panel.

2.) What types of research are your clients interested in conducting with their own panel?

This is an important topic to discuss, and in many cases will require your expert research background to assess their needs. Are they primarily looking to bulk up their quantitative surveys or qualitative insights, or do they want both? Many platforms cater best to one methodology or the other, and only a handful a platforms can offer both quant and qualitative in the same environment.

Also they should consider research design.  Do they want both methodologies to run across the same population of panelists, or should they be broken out independently?

Some clients may want to build a “special” panel because in the past, they have had trouble trying to find the right sample of hard-to-reach respondents from other panel sources for the right price. In this scenario, be cautious. If a large online panel company has difficulty recruiting and accessing hard to reach demographics in their panel of millions, the same will be true for your clients with their own private panels.

3.) If they have their own panel, do they want to be directly involved with engaging members?

Contrary to what some researchers or suppliers will say (no matter how robust the platform), it takes work to properly manage a panel, and keep it healthy and active. Some suppliers allow their clients direct access to their panels. Are your clients willing to roll up their sleeves, or do they want you to carry out all of the initiatives on their behalf? The clients’ desired level of involvement affects their pricing options. Be cognizant of the labor involved either on your end, your client’s end, or your platform supplier’s end (should you need the supplier to manage the panel on everyone’s behalf).

In order to map out the ideal panel population mix for your client, it is key to discuss panel-branding options with your clients. A branded panel can be harder to recruit, as it commonly requires existing customers (and segments of their customers) to be profiled. On the other hand, a generically branded panel may be easier to recruit, but may suffer more long-term attrition.

4.) Have they thought about a budget to build and maintain their new panel?

This is where the baseline logistics will either spur the panel opportunity to life or shoot it dead in the water. How much will your client set aside to properly incentive their panel each month? If your clients expect you to fully manage and maintain their panel, how much should they set aside to provide you with a margin to make some profit if you need to do-it-yourself or pass along the responsibility to your platform supplier? How much can they afford to properly recruit the right populations to their panel? Lastly, don’t forget to allocate a portion of the budget towards panel attrition (it is recommended to replenish a percentage of the panel annually or biannually depending on the wear and tear of the panel, and to foster some fresh members).

When the above topics have been put on the table between you and your client, you’re not only cementing the opportunity to help your client and win more work, you are better positioned to research which panel management supplier is the right fit. Knowing the answers to these questions in advance will also help you to drive hard costs in a proposal much faster while preventing room for any “surprise costs.”

A few years ago, you may have advised against exploring private panel opportunities with your clients. With today’s technology and the diverse resources available with different panel management platforms, the options give way to efficient, collaborative and straightforward solutions.  So if your clients are asking about private panels, free yourself from any past apprehensions, embrace the conversation with these tips and know that the right panel management platform is easily within your reach.

Source: Krista Joyce, uSamp