It feels like the pandemic has changed everything—or almost everything—including how we engage with work, shop and play. It’s more important than ever for top brands to have up-to-date insights about people’s preferences, and market research is the way to keep up with shifting trends. To help you increase your participation and completion rates, we’ve recently done our own research.
Here are key findings for the market research industry, presented in a 10-minute video that’s narrated by our own Betty Weinkle. Watch “Digital Rewards: The New Frontier of Market Research Incentives” to get timely and actionable insights, including:
Digital wallet use is up
Not that long ago (at the beginning of 2020, in fact), we were still wondering when Americans would really start using digital wallets. At the time, only 38% did. Now, mere months after stay-at-home rules started, 55% do.1 This uptick is very likely to continue as people keep adapting to new ways to shop in our socially distant world. Why? Because mobile wallets provide shoppers three key benefits well-suited for today’s purchasing preferences:
1. Enjoy fast contactless payments by simply holding a smartphone over the payment terminal
2. Access multiple forms of payments—including rewards such as our Mastercard® Prepaid Card enabled for mobile wallet and merchant gift cards—without lugging around a bulging physical wallet.
3. Shop online conveniently without typing card numbers into a mobile device; instead, pay for purchases in a flash with stored payment options.
Watch “Digital Rewards: The New Frontier of Market Research Incentives” if you’d like to take a deeper dive into key data about online shopping and contactless payments in 2020.
Digital rewards are popular
It’s a great time for the market research industry. After all, brands that want to persevere and survive—and hopefully even thrive—need to understand today’s new consumer behavior. Companies will be asking you for more insights, and you’ll need to attract more respondents.
That’s why it’s important to know that our research revealed that 3 out of 4 of respondents are happy to receive a digital incentive as a reward.2 In other words, your respondents want a reward that they can receive quickly via email. That’s where our Virtual Mastercard and Visa® prepaid accounts and merchant eGift cards come in: they’re exactly what your panelists really want.
What’s in it for you?
In addition to the interesting findings presented in the video, you can enjoy an array of benefits by offering digital market research incentives.
- Simply put, you can easily drive up your participation rates by offering the incentives people really want: digital reward cards. These cards arrive quickly, which satisfies the desire for instant gratification.
- As a market researcher, you’re not an incentives administrator—and if you are, it’s time you hand off that task to a proven incentives provider. We’re here to help you automate and manage your reward card programs, whether you place orders through our online portal or connect via API.
- Digital rewards can save you money because there are no plastic card production and postage costs. They’re easy to deliver, too, because you only need a name and an email address.
- Plus, as you shift to more digital formats for conducting research, it makes sense that your rewards should be digital, too.
Take 10 minutes to watch this new video for valuable insights into what today’s research respondents want in exchange for their time. Digital reward cards and wallets are not new, but they’re experiencing a surge in popularity thanks to the pandemic.
Start a conversation about how digital rewards can help you drive revenue.
1 The “COVID US Consumer Preferences Study” was conducted by SurveyMonkey on behalf of Blackhawk Network on May 22, 2020.
2 Mastercard, “Motivators & Barriers of Digital Rewards Study,” 2019.