Introducing Unbanx Spend-Based Surveys
As we close in on 10,000 members on the Unbanx rewards app, one of the key ways we have given our members to earn more points (in addition to anonymously sharing their purchase data) has been via surveys.
Through conversations with marketers and research agencies we have learnt that targeting and incentivising members to do surveys based on their specific spending habits is a unique opportunity.
We call these spend-based surveys and we believe they will solve a number of problems in the insights industry that pertain to accuracy and integrity, combating the rise of lower quality online panels.
Current problems and how Unbanx spend-based surveys could solve them:
Verified Transactions
Survey panelists don’t know their exact shopping habits. Some are also known to intentionally lie about their spending to qualify for certain panels.
Unbanx can solve this by targeting panelists based on actual verified transactions and spending habits.
Quality Panels
No more fraudulent respondents with duplicate accounts or respondents from outside the country of research.
Each Unbanx user has their associated linked bank accounts that have unique IBAN numbers. The KYC process of a bank account ensures that the respondent is legitimate.
Time-bound Purchase Behaviour
Panelists may be asked about their spending history over certain time periods. Accurate recall of this information is difficult without purchase history.
Through the Unbanx platform, panelists can be selected based on verified purchases within a certain time frame. For example, it will be straightforward for Unbanx to survey users who have bought an item in ‘Starbucks’ in ‘London’ in the last ‘7 days’ and so on.
We believe these features will provide unique methods for marketers and research professionals to explore certain topics. Naming a few:
Competitor Consumer Research: Survey a competitor’s consumer base to understand why their brand or product appeals to a particular demographic or audience
Buyer Profiling and Personas: Survey cohorts of buyers by spend to better understand the buyer profiles of your brand and their respective pains and gains
Demographic Variation: Get qualitative insight as to why your product or brand’s performance varies in certain geographies and demographics
Changing Habits: Given the context of the cost of living crisis, survey shoppers who have moved their percentage of grocery spend from supermarkets such as M&S and Waitrose to Lidl and Tesco
We are proud to announce that we will be launching our spend-based survey product this week at the Quirk's Event in London on the 3rd and 4th of May.
If you’re a market research and insights professional, please reach out and connect with us. We are on the lookout for partners to collaborate with to build this innovative solution further and conduct better surveys built on verified transactions.
You can register your interest here → https://www.unbanx.me/survey