How is Consumer Panel Data Collected During the Test Marketing Phase of a New Product?
Consumer Panel’s (an affiliate internet marketing firm) have a very clever new way to determine how your new product is going to perform over the long-term. In essence, this means that the only thing left for you to do is to select one or more measure points and then plan your marketing strategy around them. However, I am not sure that any of you Testosterone Supplements would enjoy being at the mercy of your Marketing Plan. You see, if you were to use such a system, you would soon find yourself in the same position that your competitor is in, namely the one where you have a large number of customers who have yet to make a purchase and thus your sales figures are going quite low indeed. And you could blame the Testosterone Supplement for it all.
The way in which this new panel is used is quite simple. Basically, what is done is that you take your selected one or more indicators, place them onto a graph and then look for a period of time, say 30 days or so, during which the measured attribute is either: climbing or falling. And then, depending on the results that you get, you select one or more corresponding variables to include into your overall marketing strategy. For instance, if you notice that the level of engagement is high for a particular issue, you might decide to change the way that you promote your e-book or the opportunity that you are marketing. You see, the system uses a weights system, so that as you can see which variables are contributing to which outcomes and therefore which variables need to be changed to achieve these results.
As we said earlier, this data is collected at different phases throughout the e-book or marketing process. At the testing stage, you would collect your consumer panel data and analyze it. During the re-launch stage, you would be collecting your own consumer panel data and analyzing it. And when you launch your product, you will do so with the data that you have collected in the consumer panel. But of course, as you make changes or add to your offerings or re-market your product – all this will have an affect on the consumer panel data as well, which you will use to determine what changes you need to make and whether or not they should be made.
So, how is consumer panel data collected during the test marketing phase? During the testing stage, all that you need to do is to send your prospective customers a form that collects their name and address. Your website will have an opt-in page and when a visitor to your website clicks on the link to subscribe to your list, your e-mail service will automatically e-mail them back with a confirmation link in which you will confirm that they have opted in to your mailing list. Once they have clicked on the link, you will automatically e-mail them with a series of follow-up messages to try and sell them your new product.
This process of e-mailing people with follow-up messages can go on indefinitely until your new product gets ready for shelves. Now imagine this happening over again for every new product that you release. The problem with this process is that it does not guarantee that the people who receive these messages actually want to receive more messages from you. This is because the number of people who are interested in receiving more information about your new product is likely to be very small. However, even if your percentage of interested consumers is small, the fact that you have collected a sufficient number of consumer panel data over time and used this method repeatedly can mean that you have gathered enough evidence over time to form a fairly decent opinion of the effectiveness of your new product.
One other thing that the consumer panel data can tell you is whether or not the e-mails that you send out to potential consumers are effective. This means taking the time to carefully analyze the e-mails that you send out and analyzing the responses that you receive. If the e-mails that you send out prove to be highly effective, then you should continue to do this process indefinitely. However, if the e-mails prove to be largely or ineffectively ineffective, then you should discontinue your use of the consumer panel.