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Who is the Nielsen Consumer Panel?
Nielsen is perhaps the best known social weather company that is best known for its Nielsen ratings, which measure the size and composition of television viewers in the US. However, Nielsen is not merely focused on TV ratings. It also conducts regular market research surveys, covering various business sectors. It is a market information gathering company that allows other companies to assess their target consumers. It measures and monitors the types of programs and advertisements that consumers watch and what consumers purchase in terms of brands and product categories. The company has a global presence with operations in approximately 100 countries that are spread across Africa, Asia, Australia, Europe, Middle East, North America, South America and Russia.
Although Nielsen is popularly associated with television ratings, the TV ratings services actually represent just one-fourth of the sources of revenues of the companies and the types of services it offers. The company is divided into two divisions, namely, What Consumers Buy and What Consumers Watch. Dividing the company into two divisions allows for a more focused and efficient management. Both of these divisions have their own corresponding client companies and target consumers, although some overlaps may occur. Some of the most common client companies of Nielsen include TV stations, advertising firms, retail stores, manufacturing companies, and fashion companies.
The Buy division of Nielsen represents approximately two-thirds of the company’s global revenues. This division assists packaged goods companies and retail stores as well as Wall Street analysts make sense of what the consumers are buying in terms of product categories, brands and product types. For instance, a Nielsen study could measure the different buying patterns of consumers when Diet Coke and Diet Pepsi sales are compared in stores nationwide in Australia. Since it is financially and logistically impractical to get all the records in all stores and interview all Australians, data samplings are done. The retail sales data samples from stores are combined with the household panel data to reveal the general trend. The results in such studies also provide insights as to how some changes in the marketing strategies, product offerings and pricing could influence the sales. Some of the regular major clients of Nielsen include The Coca-Cola Company, Nestle S.A., The Procter & Gamble Company, Unilever Group and Walmart.
The other division of Nielsen is concerned about what consumers are watching on TV, listening on the radio or searching and browsing on the internet. This division focuses on measuring the influence of the mass media on consumers. The main goal is to determine which media, time slot and type of advertisement to air or publish online. The data collected by Nielsen are used by networks and advertising firms in their marketing and program placement strategies. Some of the major clients of Nielsen’s Watch division include CBS, NBC Universal, News Corporation and The Walt Disney Company.
Nielsen incorporates various market research methodologies in gathering data. It tailors each survey based on the needs and specifications of the clients. Corresponding demographic sectors are matched with the surveys to get the pertinent opinions that will serve as the basis for the decisions of the clients.
How does the Nielsen Consumer Panel work?
Nielsen has several operations in various countries, including Australia. One of it market research methodologies used in its Australian operations is the paid online survey. It is one of the most fastest and convenient ways of gathering market opinions. It relies on an incentive scheme to motivate respondents to complete the long, tedious and comprehensive surveys that are commissioned by the clients.
You need to create an online account to be eligible to participate in the surveys and earn rewards. You will be issued a barcode scanner. The barcode scanner will automatically connect via the telephone line. Unlike other survey companies, however, you do not need to fill out complicated forms. You simply need to scan the barcodes of the items that you purchase. If you want to join the Nielsen Australian survey panel, you need to be at least 16 years old and a resident of Australia. You can be from any demographic group. You do not necessarily need to be a regular shopper to be eligible to join.
Once you have created your online account, you can start scanning the barcodes of the items that you purchase. You will also need to provide other information if the barcode is not available. You may refer to the receipts of the items that you purchase. You should regularly scan items every time you shop and bring the items at home. Items that are consumed outside your household may not be included.
In exchange of your efforts for scanning the items that you purchase, you will earn points that you can later redeem as gift cards or vouchers. You may choose to save your points until you accumulate a certain target amount. However, you need to earn a minimum amount to start redeeming your points.
How do I redeem Nielsen Consumer Panel rewards?
Once you have earned the minimum required points, you will then be able to redeem them for gift cards and vouchers. You will also be eligible for entries in the regular prize draws for members.