Friday, Jan 28, 2022

How to effectively incentivize Gen Z to participate in Market Research

The objective of the research is to help us, as researchers, understand the thoughts, preferences, and opinions of Gen Z relative to participating in ..

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Young person on their phone

The objective of the research is to help us, as researchers, understand the thoughts, preferences, and opinions of Gen Z relative to participating in consumer research.

In June 2021, HubUX launched a qualitative study with a subset of our Gen Z panel. The main focus of the study was on research and communication preferences. Gen Z’s impact on our global economy is growing and is projected to represent 30% of the global workforce by 2030.

This qualitative study was recruited through our Gen Z panel, and additionally through Instagram and TikTok. All research was handled internally by HubUX.

This is the third post on the GreenBook Blog focused on the key research findings, the first being Meet Gen Z: Don’t Trivialize Your Brand’s Digital Presence and the second, How to Effectively Conduct Research with Gen Z.

Executive summary

Gen Z expects a value for value exchange when it comes to incentives. And, if they feel they are being taken advantage of, they will opt out of your panel.

If you are hosting your own community for research purposes, incentives are a powerful way to build trust and connection. But live up to your end of the bargain. For example, if you have payment terms of 24 hours, be sure to fulfill in that timeframe.

Why?

Because backing your words up with your actions will either create trust or break it. Consequently, this will impact Gen Z’s trust in your brand as being authentic.

Types of incentives and their impact on Gen Z

There are three main ways to incentive participation in your market research:

  1. Monetary: We have likely all heard the words from someone with a clipboard, “Pardon me, would you like to earn $5 for 15 minutes of your time?” This is a straight time for money exchange and is one that Gen Z is very comfortable with.
  2. Impact: I did a lot of research for Intuit to help improve research engagement with their community. “Having an impact” was the largest drive of participation in research. There are some downsides, namely, you have to disclose who the sponsor or what the topic is prior to participation.
  3. Introspective: A good example of this is dating applications and personality profiles. In short, users provide some profile questions and then get a perspective on themselves. For these types of studies, the users have a vested interest to help understand themselves and how they relate to the world or peer group.

Related How to Effectively Conduct Research with Gen Z As you know, the primary way we incentivize is through money, points, or gift cards. This is great because it aligns with Gen Z’s desire to monetize their time and have some impact on the world.

But keep in mind, Gen Z has many ways to monetize their time. From food and people delivery to live-streaming gameplay, Gen Z has made the connection that they have an opportunity to monetize their time.

That is why Gen Z expects a value for value exchange when it comes to incentives. And, if they feel they are being taken advantage of, they will stop participating and could even become hostile to your brand or agency. This may not seem like a big deal until you realize their ability to mobilize others using social platforms like Reddit.



 

Conclusion

When you are coming up with your incentive plan, ask yourself: “Would I participate for this amount? Would my kids?”

If the answer is a “No!”, then think about what type of person is going to give thoughtful answers for this incentive?

The only way we are going to effectively connect with Gen Z for primary market research is if we are thoughtful about how we compensate them.

If you would like to learn more about how to effectively engage with Gen Z, you can find me on any social platform or email me directly.

Happy Researching!
😊

The post How to Effectively Incentivize Gen Z to Participate in Market Research first appeared on GreenBook.

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By: Jamin Brazil
Title: How to Effectively Incentivize Gen Z to Participate in Market Research
Sourced From: www.greenbook.org/mr/gen-z/how-to-effectively-incentivize-gen-z-to-participate-in-market-research/?utm_source=rss&utm_medium=rss&utm_campaign=how-to-effectively-incentivize-gen-z-to-participate-in-market-research
Published Date: Tue, 07 Dec 2021 12:00:01 +0000

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