Norstat Panel-A Comprehensive Guide to Their Business Model, How It Works, and Benefits
Norstat is one of the leading market research companies in Europe. It is a panel provider that specializes in collecting high-quality data for market research purposes. The company has been operating since 1997 and has built a network of over 2 million consumers across Europe who participate in surveys. In this blog post, we will take a closer look at Norstat’s business model, how it works, and the benefits it provides.
Norstat’s Business Model
Norstat’s business model is based on providing clients with access to a panel of consumers who are willing to participate in market research surveys. The company recruits panelists through various channels, including social media, online advertising, and referrals. Once a person signs up to become a panelist, it sends them surveys to complete in exchange for rewards, such as cash, gift cards, or vouchers.
The surveys are designed to collect information on consumer behavior, preferences, and opinions. Norstat then compiles the data and provides it to clients in the form of reports or raw data sets. The clients can use this data to inform their business decisions, such as product development, marketing strategies, and customer service.
How Norstat Works?
It works by recruiting panelists from various countries across Europe. The company uses multiple recruitment channels to ensure that the panel is diverse and representative of the general population. Once a person signs up to become a panelist, they are asked to provide demographic information, such as age, gender, education, and income. This information is used to match panelists with surveys that are relevant to their interests and background.
When a survey is available, it sends an email invitation to the panelists who meet the criteria. The panelists can choose to participate in the survey or decline. If they participate, they are rewarded with points that can be redeemed for rewards, such as cash or gift cards.
Benefits
Norstat provides several benefits to people who participate in its panel. Firstly, it offers a way to earn rewards for completing surveys. This can be a great way to supplement income or save money on purchases.
Secondly, participating in Norstat panel allows people to voice their opinions and influence the products and services that are developed and marketed to them. This can be a powerful way to make a difference and feel heard.
Finally, Norstat panel is designed to be user-friendly and convenient. The surveys can be completed online or on a mobile device, making it easy to participate from anywhere at any time.
Conclusion
Norstat is a reliable and efficient way for businesses to collect high-quality data for market research purposes. Its panel network of over 2 million consumers, combined with its user-friendly platform and quality control measures, make it a valuable resource for businesses seeking valuable insights into their target audience. Participating in Norstat panel also provides people with an opportunity to earn rewards and voice their opinions.
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