Respondent Marketplaces
Programmatic platforms buying and selling market research participants are often called respondent marketplaces because they automate the flow of respondents between market research buyers and publishers. On one side, publishers supply the marketplace with fresh respondents ready to take surveys; on the other hand, the buyers pay for the number of completed surveys fulfilled by the respondents.
This way, publishers can monetize their website or app users as an alternative to other earning methods, such as online ads
Connect buyers and sellers of online respondents:
- Buyers can use the marketplace on a DIY basis or create direct access from their CRM platform, automatically tapping into the marketplace through a SaaS solution.
- Publishers can integrate with the platform through API or SDK solutions creating a seamless funnel where their users can be monetized by offering paid surveys.
Larges programmatic respondent marketplaces:
- Samplicio.us (Lucid)
- Sample Cube (Schlesinger)
- Peanut Labs (Dynata)
- TheoremReach
- TapReseach
- Pollfish (Prodege)
- YourSurveys (Cint)
- Asia Cloud Panel (GMO Research)
- SpectrumSurveys (PureSpectrum)
These automated marketplaces are specialized in different areas, but what they have in common is the fact that they do not operate proprietary panels. Instead of asking the user to sign up for a panel community designed towards survey takers, they are leveraging existing 3rd party communities to find users willing and able to participate in online market research.
As a survey taker, you might come across these automated marketplaces when redirected from one survey to another and wonder whether these sites are legit. If in doubt, cross-check the domain of the site you are forwarded to with our extensive database of sources on HuginX.
Automated Respondent Marketplaces:
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Marketplace suppliers range from traditional consumer panels to website communities and social media sites. Like Google Adwords enable publishers to monetize their traffic by showing ads, respondent marketplaces let online communities and survey sites earn money by having their users opt-in to paid survey opportunities.
The provider is paid a percentage of the cost per interview (CPI) which is determined based on the incidence rate (IR) and length of interview (LOI). Scarce target groups and long surveys will yield a higher CPI, while easy to reach targets and short surveys will be priced at a lower CPI. Based on these factors, the pricing is set dynamically, which means research buyers might see the pricing fluctuate according to the real IR within the project.
The number of available respondents will also vary over time. Depending on the overall demand for a specific target group (e.g., Hispanics in the United States), the research buyer might see a higher or lower sample availability for their research project. If many buyers conduct market research studies looking for Hispanics in the US simultaneously, fieldwork time might take longer than anticipated. To some degree, marketplaces mitigate the risk of not meeting fieldwork timings by providing an updated feasibility check up-front to set the correct expectations before the fieldwork begins.
Clients of respondent marketplaces benefit from having cost-efficient access to market research audiences on tap without investing in proprietary first-party data assets. The automated platform also eliminates the need to have a project manager conduct the project’s fieldwork. Instead, the research buyer can launch the project through a DIY portal and monitor the fieldwork and the results in real-time through a dashboard. The whole process saves time for all parties, which means fieldwork can be done swiftly, supporting agile research methods when that is needed.
