If you’re familiar with online surveys, you know that estimating feasibility is a crucial part of your project. The process is pretty simple: a survey community provides information on their available respondents, so you know if your survey can get the right respondents at the right time for the right price. But what happens when you’re working with multiple survey communities with millions of respondents? In that case, feasibility becomes an entirely new endeavor – and that’s where Lucid thrives.
For Lucid, our feasibility tool, Reach, uses AI and machine learning to deliver accurate feasibility estimates for surveys in our Marketplace. Let’s explore what makes Reach so unique and the value it brings to our users.
What is Reach, Lucid’s Feasibility Tool?
Reach is an in-product tool that allows Lucid Marketplace users to learn the feasibility of a study before it launches. Customers simply add details about their survey into Reach to ensure that they can get the answers they need from the audience they’re targeting, on time and within budget. We’ve recently released an updated version of Reach, to help users better determine the feasibility of their studies.
Why is understanding feasibility important?
The first step in getting the answers you need is understanding if the audience you want to target are available, and what kind of price you will need to pay to reach them. Using a pricing and feasibility tool like Reach helps you to quickly understand the parameters for a successful survey and any changes you might need to make, before you spend any money or have to wait for real results.
How does a tool like Reach empower customers?
Traditionally, bidding and understanding feasibility was a very manual process requiring a lot of back and forth interactions between the buyer and the sample provider. Reach puts control in your hands – you don’t need to interact with Lucid’s bid team for many common queries, and Reach helps you understand marketplace dynamics and how different factors can affect the success of your survey.
Here are some of the most noteworthy new Reach features:
- Dynamic, real-time feasibility suggestions based on a few simple survey details
- Visual representation of the whole survey prediction including individual qualifications
- Automated pricing suggestions to support the required respondents
- New audience templates, including parents, HR decision maker, IT decision maker, and minors (contacted through parents)
- Flexible ranges for possible completes and prices
What makes Reach different than other feasibility tools?
Every type of research software has a feasibility tool of some sort. However, unlike other feasibility features, Reach takes real data into account when making predictions and changes dynamically based on shifting marketplace conditions. Using AI and machine learning techniques, Reach can look at respondent activity in the Lucid Marketplace in order to create models that predict the number of respondents who would fill a survey, and the price required to get those completes.
How can new users start estimating feasibility with Reach?
If you’re not a Marketplace customer yet, that’s okay! To learn more about getting started with Marketplace, contact our team and a customer representative will be in touch with you.