Customer panels are great for direct and ongoing access to your customer segments. Engaged customer communities offer up proactive insights and nuanced reactions. If they are expertly built and managed. In this case, a major financial services firm had been working with a leading panel management provider. Over the years, their community had become a bit stale. It was not delivering the insights needed to meet business objectives.
The management tool was out-of-date. The model was neither fast nor flexible. And the findings were lackluster. Our client did not want yet another off-the-shelf solution. They needed a custom solution that delivered real insights.
Escalent immediately set to work by identifying issues with the current panel set-up. It was clear that community member profiling was incomplete. The client needed a sampling methodology in line with their current research needs. To do this, we implemented a predictive sampling methodology to better target customers. This ensured that the right surveys went to the customers most likely to complete them. It also allowed a greater number of surveys to be fielded within the fixed size of the community.
In addition, Escalent introduced greater flexibility into the standard processes. We made engagement with the community more agile and enhanced survey design capabilities. Finally, we leaned into our strategy consulting legacy. We built a multi-skilled team to manage the community. This included insights pros who could dig deeper and interpret panel responses, turning reactions into strategic direction.
The client was able to transform a typical customer panel into a goldmine of insights. They were finally able to leverage the tool for its intended purpose. The number of surveys run through the community doubled in less than a year. Response rates from customers improved by 15%. Most importantly, with seasoned insights professionals managing the community, the client received insightful and actionable findings.
Escalent specializes in creating and managing insights communities that provide a fast, flexible, and continual flow of insights to answer your business objectives.