Stable Research continues to extend our relationship with panel members through a new robust online market research panel community named Stable Soapbox. Stable Soapbox is an additional vehicle that promotes engagement with our market research community. It will be used in addition to the thousands of emails, 33,000 SMS and 12,000 phone calls that we make each month. It is the community engagement vehicle we use to highlight the rewards and incentives that our panel members receive and to let panel members know more about the Stable Research team, the exciting research projects we are delivering and some fun things about consumer behaviour and the market place. The interactive nature of the platform enhances two way conversations that boost trust and familiarity with our brand and our audience.
The flow from the online community and its integration into other traditional methods of engagement has resulted in significant panel growth with over 10,000 new panel members signing up with the Stable panel over the past few months.
The Stable Soapbox Facebook page has accounted for 15% new panel member signups. It is through Facebook that we are able to advertise panel opportunities and more. The ease in which information can be shared by Stable Soapbox members is simple because people can simply ‘tag’ their friends to share information about market research panel opportunities. During July we ran a Facebook Winter Warmer competition where nearly 10% of our audience provided comments about what they like or don’t like about winter.
Technology continues to place a premium on people’s time and attention and this means as market researchers we need to work harder to ensure that panel members are involved, engaged, and acknowledged, in addition to rewards or payment received for market research panel participation.
When we surveyed our panel in 2013 the majority of respondents indicated they enjoyed participating in research yet two in five participants felt that incentives for online surveys and communities were too low. So while people enjoy participating in online surveys a significant number don’t feel that they are adequately rewarded for their time. We listened to this message and lowered our minimum redemptions to $10. We also made the decision that we will not commit to any projects where our panel members are not adequately rewarded.
We have developed Stable Soapbox to extend our relationship with our panel members, enhance our knowledge of them and at the same time let them know that we value their loyalty and input.
The development of market research panel communities is something that will continue to extend and evolve as technology enhances our understanding of those who engage with our company while at the same time increasing our knowledge of the way in which they want to do so. Our mission is to ensure that our panel knows they are valued and appreciated. As technology continues to advance, our focus will be on ways to minimise intrusion into people’s lives while giving them the opportunity to engage and share experiences.
Stable Research awarded Excellence in Business
We are really excited that Stable Research has been awarded Excellence in Business at this year’s NSW Business Chamber South Eastern Sydney Awards.
The NSW Business Chamber Excellence in Business Award formally recognises a business that has attained significant growth and is able to demonstrate specific strategies and processes implemented to achieve sustainable growth over a 2 year period. It is awarded to companies with over 20 employees.
This award is recognition of our team’s effort – and some our employees have been with us from the beginning! Technology is pushing the market research industry into new and exciting areas and we will continue to invest in people and technology to maintain our competitive edge. We believe this award formally acknowledges the culmination of all our efforts over the past 12 years, in building Stable Research into a world class market research Company. We will now draw on this acknowledgment and continue to diversify and grow the company over the coming years’.
Our team will be at the Finals on 28 November at The Pavillion, dressed up in our finest, eagerly awaiting the judge’s announcements.