How Market Research Incentives Help You Adapt to the Latest Trends

  • author

    Hannah Prince

  • posted

    Dec 11, 2024

  • topic

    Academic Research, Market Research

How Market Research Incentives Help You Adapt to the Latest Trends

When it comes to data-driven insights and market research incentives, the message for the future is clear: You need more.

For businesses looking to make more informed decisions in light of ongoing economic challenges, research is no longer a nice-to-have. And whether you work for an in-house research team or an agency, you probably already realize how much the demand for data is growing. Regardless of industry, business leaders and executives want actionable insights to drive growth with both big-picture decisions and day-to-day tactics. That’s why researchers must be “focused on providing not just more data, but data that can be immediately applied to shape business strategies, customer experiences and product development,” according to Qualtrics’ 2025 Market Research Trends report.

Without the appropriate data and insights, Qualtrics’ report finds, more than a third of researchers say that decision-making at their organization would become riskier (37%), customer understanding and satisfaction would decline (38%), sales and revenue would suffer (39%), and the company would lose its competitive edge in the market (40%).

New technologies and tools are, of course, key to scaling your research efforts and supporting business needs, but tried-and-true strategies like market research incentives aren’t going anywhere, either.

Here are a few trends that researchers can expect to see growing in 2025, and how market research incentives can help you adapt.

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Enhancing Speed and Efficiency

Obviously, with higher demand for research comes the need to speed up operations and make processes more efficient. Researchers are increasingly relying on advancements in automation and artificial intelligence to help output more insights with less effort. Market research incentives can not only be automated as well, but they can also help you get your data faster. With the promise of a reward delivered instantly upon survey completion, thanks to integrated providers like BHN Rewards, people are more likely to fill it out right away.

The team at Actionable Research experienced firsthand the connection between efficient incentive delivery and speed of responses. “We see more immediate jumping in now on responding to a survey,” says Senior Client and Project Manager Katie Crain. “We’re really clear in our email invitations that you get your choice of gift card and the timeframe that they’ll receive it. We have definitely seen a quicker response to survey invitations.”

Firms including Actionable Research have also seen that sending market research incentives immediately helps with repeat participation. Combined, these benefits mean “we’re going to get projects done faster, and that’s going to make our clients happier. We’re going to be more profitable,” Crain says.

Balancing Human Input With AI

There’s no question that artificial intelligence is already becoming a big part of research operations, and its use will continue to grow as the tools are further refined. Even now, 89% of researchers are using or experimenting with AI-powered technologies, according to Qualtrics. Synthetic data definitely has advantages in terms of speed and scalability, and 71% of respondents in the Qualtrics survey say it will make up at least half of information collected within three years.

However, you’ll also need to maintain the human element in your research. Nearly half of researchers (49%) acknowledge that distinguishing between real and AI-generated responses in online panels will be a challenge as AI gets more sophisticated. That’s why it’s important that your teams not only continue to use traditional methods such as in-person interviews, but also leverage new digital tools to expand qualitative research output. Online insights communities, eye tracking, and video capture and analysis are just a few of the methods that can help you scale qualitative efforts while keeping your research in the real world.

Market research incentives, particularly those that utilize gift cards and prepaid cards, are useful because their value can be easily customized to the level of effort. You’re able to provide appropriate compensation to an in-person focus group participant, an online community member answering in-depth surveys, and a remote user testing a new product feature, all from a centralized platform like BHN Rewards.

For ongoing projects like long-term studies, clinical trials, and insights communities, consider offering a points-to-rewards structure for your market research incentives! Check out these tips to learn how.

about the author
Hannah Prince

Hannah is a reformed journalist who has more than 15 years of experience and now focuses on content marketing for innovative tech companies.

Hannah is a reformed journalist who has more than 15 years of experience and now focuses on content marketing for innovative tech companies.