In the US, online sample marketplace PureSpectrum has introduced a feature called Quota Based Pricing (QBP), through which clients can price each quota within a project uniquely and capture harder to reach audiences faster with a customized incentive.
Launched in 2016 by former Cint US MD Michael McCrary (pictured), PureSpectrum provides a marketplace for buyers and sellers of online sample. Last year, the firm rolled out a DIY eCommerce insights platform called Storefront, which automates survey creation with custom configurable inputs, data collection and report generation, allowing researchers to return insights to clients within 24 hours.
According to the company, what it takes to incentivize a 25-year-old female to take a survey is different from a 75-year-old male, and the difference in price means certain quotas will fill and others will struggle. This might mean that while rushing to complete, researchers need to raise prices and stretch the budget. 'Using the new QBP feature', the firm says, 'researchers can set different prices on individual quotas, ensuring that these challenges are addressed earlier, achieving more balanced fielding and producing more reliable and representative business insights'.
Web site: www.purespectrum.com .
All articles 2006-20 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.