By: Stuart Gullock, Director, Business Development, EMEA
Before I begin, for those of you who aren’t fully aware of who Lucid are, or if you think you know who we are, I’ll start by saying what we’re not: we are not a panel company. We are a programmatic sample marketplace.
We are often perceived as a panel company, and that’s understandable. It’s a common misconception because we work with hundreds of global sample suppliers. The truth is, our role is to help facilitate the evolution of sampling. And we are focused on exploring possibilities and developing solutions to help ensure this evolution is realised.
As part of this evolution, we’ve pioneered one of the most important tech developments in the sample industry: APIs (Application Programming Interfaces). Essentially, APIs allow our marketplace to connect with supplier (and buyer) applications. This enables suppliers who use our APIs to smoothly supply their respondents to live surveys.
And, unlike other data exchanges, we offer a truly transparent operation for buyers and sellers alike. Buyers know exactly where their sample is coming from, and suppliers connect directly to researchers to run surveys through their panels. So, even though we’re not a panel company or researcher, suppliers and buyers are a vital part of our marketplace dynamics.
Sample buyers work with Lucid because we provide solutions that make their lives easier. When buyers join our marketplace, they get buying options, ridiculous speed and scale, and an environment where the market sets the price for sample. Our technology is built to deliver these benefits. We provide an unbiased platform that puts you in full control – a free and open market where buyers and sellers decide how they want to work.
We believe that buying sample and running studies shouldn’t be a painful experience. It should be simple, cost-effective, and time-efficient.
As a platform, we want to help our clients (on the buy-side and sell-side) grow by solving the common problems that exist in fieldwork. Lucid’s technology functions as a driver for their business and enables them to expand and modernise.
The marketplace improves the respondent experience too. People have always wanted to give their opinions, but the old way of running studies was tedious for respondents. We’ve learned that the question/answer process must be targeted and efficient so they’re more likely to stay engaged. With billions of questions answered via our platform, I’d say that’s a testament to the power of Lucid’s technology.
Ultimately, we’re more than just a marketplace; in fact, we’re matchmakers! We’ve created a hub where value is created by all our users. And because of that, our clients can spend more time doing what they do best – whether it’s producing panels, delivering high quality research for their clients, or developing business insights.