A consumer panel is a group of people selected by a business or organization to provide opinions and feedback on products or services. Market researchers will typically design the group based on a certain demographic or target audience.
Unlike a focus group which meets only once, consumer panels may be used on several occasions over extended periods of time. This frequency allows your business to gather multiple rounds of feedback to develop new ideas and gain deeper insights from your audience.
Consumer panel data puts you at a competitive advantage when it comes to making decisions for your business. Panelists answer specific questions that will have an impact on your product development, customer service, branding and overall business practices.
Following are just a few of the ways companies use consumer panels as part of their market research initiatives.
Consumer panel feedback provides key insights about product performance and ease of use. It can also let you know where your product falls short. Panels help businesses answer the following key questions:
A consumer panel puts you in the mind of your audience and can teach you more about their experiences, likes, dislikes, and behaviors. They also help spot new trends on the horizon. Companies in the market research phase often use panels to identify:
When it’s time to re-evaluate your branding, who better to ask than your current and potential customers? Just imagine the power of gaining feedback from a ready audience before investing thousands of dollars into a re-brand. Consumer panelists will provide feedback on all aspects of your current and proposed brand assets, including:
If they hate it, you can ask them why they hate it. If they love it, find out why they love it. Then use that information to pivot and conquer.
Aside from having eleventy-billion practical uses for consumer panel data, there are other benefits to this particular market research method. Consumer panels are:
You may not realize it, but consumer panels serve as the perfect pool for forming a more in-depth focus group. Through the process of working with consumer panels, we learn which participants are enthusiastic about providing feedback and might be willing to take part in additional sampling such as surveys and in-home product tests.
Voccii® manages a large consumer panel consisting of hundreds of active members. We recruit panelists through our website and during research projects (as appropriate) to provide feedback about our clients’ products and services in a variety of ways, including:
In addition, major brands across all industries have used consumer panels to inform the development of:
Voccii® conducts studies with various groups of people, such as parents of young children, adults over 50, Millennials, and many others. These research studies usually involve gathering feedback on brands and products or services, and are always confidential and anonymous.