Blog
Jul 31, 2019

Bank On It: A Better Survey Experience Leads to Better Insights

Woman taking mobile survey
Conducting surveys via a highly engaged purchase panel ensures you’re talking to qualified respondents, layering in more insightful attitudinal questions, and analyzing verified purchase behavior that has a depth, breadth and accuracy that could never be captured via survey alone. These stronger insights can be used to guide brand strategy, fill the innovation funnel, and understand the buyer journey.

I lost my credit card the other week. Okay, not really lost, more like stolen. Well, not exactly stolen, since I could clearly see it sitting in my wallet. I got a credit alert from my bank telling me someone had tried to use my card in Florida. I was nowhere near Florida at the time (insert Florida joke here). But it put my entire financial empire at risk. Hmm, not really, the charge was only for a dollar. But I still had to call my bank and deal with it. Which was a pain.

Look, this is not a diatribe against banks. I mainly love my bank and have recommended it to multiple people. And the process for talking to a bank representative is so much easier there than I’ve experienced at other financial institutions. But I called them, from a phone number verified with my account. I entered my card number, my pin, my membership number and, if memory serves me correctly, my social security number. Then a perfectly pleasant woman answered the phone and made me provide all that information again, along with some other identifying information (first girlfriend’s mother’s maiden name, color of my baby blanket) of which I was much less sure.

When I hung up the phone, knowing I was going to receive a replacement credit card within 48 hours I thought – now I know how most survey respondents must feel. Weird thought, huh? Let me explain what I mean, and what Numerator has done about it.

Verified Purchasers = Minimal Screening

Generating the strongest insights starts with talking to the right people. Which means surveys typically start by qualifying respondents via a series of screening questions that sometimes feel like your bank’s quest for other identifying information – things you knew once, but that just no longer matter. Except for surveys, they do. We start by asking about categories and brands a respondent may or may not have purchased in the past. And we know from prior R&D conducted by Numerator that despite respondents’ best intentions they just aren’t very good at remembering the products they’ve purchased, leading to as many as 50% claiming to have purchased a product they didn’t actually buy.

Because Numerator conducts all our surveys using our purchase panel of people who are recording what they buy by scanning in receipts via mobile phone and allowing us access to e-receipts, we can tell with certainty whether a respondent should qualify for a given study based on their purchase behaviors. Or not. Without asking.

Verified Purchase Behaviors = Better Survey Experience

Broadly speaking, once a respondent is qualified for a survey they answer two types of questions – attitudes toward the topic, and corresponding behaviors. Based on my experiences, the relevant attitudes need to be collected on an ad hoc basis – the nuances of what we want to know tend to vary greatly depending on the study objectives. The behaviors, not so much.

Behaviors are more akin to the basic identifying information collected by my bank – static information that they need and that, if collected once, shouldn’t have to be repeated. Like my membership number and social security number.

Again, because Numerator is conducting surveys via our purchase panel where all participants have been collecting their buying behavior for a minimum of twelve months – voilà, no need to ask people what they’ve bought, or where they bought it, or how much they paid. The result is a more satisfying survey experience for respondents, typically a much shorter survey, and more accurate behaviors.

Verified Purchasers + Verified Purchase Behaviors = Stronger Insights

From a respondent standpoint, all the aforementioned points are a huge plus.

But the primary objective of the company sponsoring a survey isn’t a happier respondent (though that’s nice), it’s stronger insights. More engaged respondents absolutely make for better answers. Beyond better answers, conducting surveys via the same purchase panel that powers Numerator Insights ensures you’re talking to qualified respondents, layering in more insightful attitudinal questions and analyzing verified purchase behavior that has a depth, breadth and accuracy that could never be captured via survey alone.

These stronger insights can be used to guide brand strategy, fill the innovation funnel, and understand the buyer journey. You can bank on it.