Greenfield Online discusses the online market survey market
Hugh Davis, VP of Business Optimization for online market research
firm Greenfield Online (ticker: SRVY), spoke at the Stephens
Information Technology and Services Conference June 9th about the
online market survey business. Extracts:
Eighty-five percent of the research that's done today is done not using
the Internet… The federal Do Not Call legislation was enacted in 2003.
While it is still legal for market research companies to call into the
house to do surveys the average consumer doesn't recognize the
difference between selling and market research. So that's really
contributed to the 80% refusal rate for telephones. People just don't
want to be bothered at home.…We're also seeing a cell phone only phenomenon… which is going to
make it more difficult for companies to get access to these survey
respondents over the telephone.For the respondent… we've really made it more convenient for
them. If you think about calling into a household for a telephone
research you call in between 5:00 o'clock at night and 9:00 o'clock at
night right when no one wants to be bothered by anyone. On the Internet
you can get an invitation to a survey and take it whenever it's
convenient for you and we look at when people are taking surveys and
they're using the whole 24 hours of the clock to take a survey when it
is convenient for them.(Quotes are from the CCBN StreetEvents transcript.)
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