Increasing Participation of a Major Global Market Research Study
If you’re going to be one of the biggest, most expansive global market research panel platforms in the world, you’re going to have to be able to incent respondents in places where delivering payments can be a little tricky, like Latin America.
TARGET: Survey Participants Around the World
When it comes to success for a global market research firm, you need to provide your clients with an engaged, diverse panel of people from across the globe who will respond to surveys.
PROBLEM: Cash is Typically King in These Cases, But Currencies Vary Everywhere
The two main issues the market research platform wanted to solve were getting existing panelists to participate more, while also finding willing participants in new markets where delivering incentives is difficult. And ideally, they wanted to deal with one partner to make things simple and seamless.
SOLUTION: Cryptocurrency and More
The popularity and acceptability of cryptocurrency was the beginning of the answer. People everywhere are interested in it, but they don’t want to pay for it themselves. The fact it could be spent, or held on to as an investment, was also unique. Our partnership with Bitcoin proved invaluable. It generated interest and drove acquisition and participation. But of course, people everywhere like choice. So, while Bitcoin was the headline, we added other incentives to the pool to entice a wider audience, which helped with recruitment, as well as participation. These incentives included rewards that could be used on a daily, weekly or monthly basis, like regionalized and relevant gas and grocery subscriptions. Not as sexy as Bitcoin, but very effective.
REWARDS PARTNER: Bitcoin, Amazon and Our Own Reward Choice
Thanks to our incredible range of partners, including Bitcoin, NeoCurrency was able to efficiently deliver rewards across multiple regions—including Mexico and Brazil. After the initial phase, we expanded the pool to include Amazon in 9 different countries. And followed that option up with access to our Reward Choice, which allows respondents to choose among hundreds of brands, including regional favorites.
RESULT: Expanded Markets, Panelists and Participation
NeoCurrency helped the global market research company become even more global by allowing them to deliver incentives in new markets, starting in Brazil and Mexico, and then Argentina, Australia, Canada, European Union, Hong Kong, Hungary, Poland, Saudi Arabia, Switzerland, United Arab Emirates, and United Kingdom. Being able to get people to participate in many of these regions gives this company an advantage over their competition now, and in the future.
We’ll be back next week with another client/program case study, and until then, please don’t hesitate to reach out with questions!
Digitally yours,
The NeoCurrency Partner Team