System Conversion Rate
| System conversion rate is the percentage of study entrants that successfully finish the entire study. This metric is most commonly used by suppliers when determining the overall health of a study.
The formula to calculate system conversion rate is as follows:
System Conversion Rate = Completes / Study Entrants | >10% | If a study has a low system conversion rate, try the steps below to increase:
- Improve targeting by including standard qualifications in the prescreener
- Build quotas into the Marketplace to avoid client side over quotas
- Test the study for a complete and a termination to check for any setup errors
- Check that client side redirects are functioning properly
- Ensure that the study is mobile optimized. If not, include the standard qualification MS_is_Mobile and set the condition to False to screen out mobile users.
| A high conversion rate signals to a supplier that there is a higher chance for a respondent to succeed in the survey.
If a conversion rate is high and the CPI appropriate, studies tend to get a lot more traffic and fill quicker than studies with lower conversion rates.
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Client Side Conversion Rate
| Client side conversion rate is the percentage of respondents who complete the study after exiting the Marketplace prescreener and entering the client-side study. Note that the majority of suppliers prioritize system conversion rate over client side conversion rate.
The formula to calculate client side conversion rate is as follows:
Client Side Conversion Rate = Completes / Marketplace prescreener completes | >10% | If a study has a low client side conversion rate, try the steps below to increase:
- Build quotas into the Marketplace to avoid client side over quotas
- Test the study for a complete and a termination to check for any setup errors
- Check that client side redirects are functioning properly
- Ensure that the study is mobile optimized. If not, include the standard qualification MS_is_Mobile and set the condition to False to screen out mobile users.
| A high conversion rate signals to a supplier that there is a higher chance for a respondent to succeed in the survey.
If a conversion rate is high and the CPI appropriate, studies tend to get a lot more traffic and fill quicker than studies with lower conversion rates.
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Earnings Per Click (EPC)
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The Lucid Marketplace is a marketplace consisting of thousands of surveys and millions of available survey-takers. Researchers release their surveys on the Marketplace, and suppliers choose which surveys to send respondents to based on how attractive survey statistics are, relative to other live surveys at that time.
Earnings per click (EPC) is the metric commonly used by suppliers to determine which study to send respondents to i.e. they use it to rank all projects available to them from highest to lowest..
EPC is a function of conversion rate and CPI (cost per interview) and gives the supplier insight into how much they can expect to earn per study entrant.
Formula for EPC is as follows:
EPC = (CPI *Completes) / Study Entrants
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As general goals, we recommend different EPC based on LOIs:
- under 5 min >$0.10
- 5-10 min >$0.15
- 10+ min >$0.20
| EPC has two components which you can work with, CPI and conversion.
To improve conversion please consider:
- Are there any term points or quotas within the survey that can be built using standard qualifications in Marketplace? When term points and quotas are built into the Lucid screener, suppliers can proactively read the audience requirements and send in only respondents who are likely to qualify, thus reducing total entrants and increasing conversion.
- Are there technical errors in the survey that are causing high drop rates, or are otherwise making it difficult for respondents to complete the survey?
- Are you using Custom qualifications that could be Standard qualifications instead? Custom qualifications reduce conversion, so only use them when required.
- Is your survey mobile optimized ? If not, are you blocking mobile traffic?
- Can your LOI be shortened to reduce drop-off?
CPI
- If you have made all possible improvements to improve conversion, try to increase the CPI to a value that will allow higher EPC.
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EPC gives you an indication how attractive your study is on the marketplace.
A low EPC means your survey might get deprioritized by suppliers as it represents a bad survey opportunity for respondents.
At the same time it gives you an indication if you could potentially buy smarter i.e. lower CPI*.
*EPC limits in up and coming markets will vary. Ask your CSM for more details.
*If account-level EPCs fall below acceptable thresholds, your account may go through Survey Improvement .
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| Incidence Rate (IR) | Incidence rate is a commonly used metric in the market research industry and is the percentage of respondents that will qualify for the study.
Formula for incidence rate is as follows:
Incidence Rate = Completes / (Completes + Terminates) | | To improve the incidence rate, use standard qualifications to reach the targeted population.
Sometimes you might not have a qualification available that matches your target group 100%. If that is the case, try thinking outside the box i.e. does your target group earn a certain amount as minimum salary etc.
| A high incidence rate signals to a supplier that there is a higher chance for a respondent to succeed in the survey. The study therefore might be more attractive than others with a lower IR. |
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Client Side Overquota Rate
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The percentage of respondents who are redirected from the client survey as an overquota. You want this number to be as low as possible
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<20%
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- The best way to decrease this number is to include all demographic quotas in the Marketplace and mirror the quotas on your survey platform
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If you have a low number of overquotas it will reflect in other metrics like conversion and EPC. Your study will overall be more attractive than other surveys with higher numbers of overquotas.
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Drop-Off Rate
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The drop-off rate is the percentage of respondents who enter the client study but do not return to the Marketplace.
A high drop-off rate can indicate a setup or redirect errors in the client side study.
Formula for drop-off rate is as follows:
Drop-off Rate = drop-offs / client side study entrants
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<20%
| To troubleshoot a high drop-off rate, best practice is to test the study. To improve a drop-off rate, try the following steps:
- Ensure the client side redirects are functioning properly
- Test the client side study for setup errors
- Decrease the length of interview (longer studies tend to see higher drop-off rates)
- Ensure that all embedded videos and links are working properly
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A lower drop-off rate leads to a higher overall conversion rate, which will make your study more attractive for suppliers.
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| Term Rate / Screen-out Rate | The percentage of respondents who term/screen out on a qualification either in the Lucid platform or in the survey.
The aim should always be to keep this number as low as possible so that respondents have a good survey experience.
| N/A | To improve your screen-out rate consider the following points:
- Include all suitable standard qualifications in the Marketplace pre-screener. You can find a list of all standard qualifications on our support site. Suppliers aim in their integrations to match their respondent information back to our standard qualifications. So when you work with the standard qualifications, your chances are higher that you will receive the right participant for your survey.
- Get creative with your targeting if the qualifications might not match 100%. See which standard qualifications can get you closer to your target group.
| Better targeted respondents mean a higher conversion rate, which will increase your EPC and therefore make your study more attractive for suppliers. |
| Mobile Conversion Rate | Mobile/Tablet conversion is the conversion rate for mobile/tablet respondents. If this number is low, this could indicate that the study is not mobile/tablet optimized and therefore, mobile/tablet respondents are negatively affecting the overall conversion rate. If the study is not mobile optimized, best practice is to include the MS_is_Mobile standard qualification and set the condition to False to prevent mobile users from entering the study. | N/A | To improve the mobile/tablet conversion, test the study on a mobile device to ensure that the client side study is mobile optimized. | A higher mobile conversion rate leads to a higher overall conversion rate, which will increase your EPC and therefore make your study more attractive for suppliers. |
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Negative Reconciliation Rate
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The percentage of data reconciled to terminate within your account.
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<5%
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A lower reconciliation rate helps improve your overall account health.
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Security Settings
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The settings available at the account and survey level. Find out more about Marketplace's account-level and security best practices on our support site.
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N/A
| Implement our best practice security settings to control for quality and prevent fraudulent completes |
Setting up the proper security will increase your overall conversion rate, which will increase your EPC and therefore make your study more attractive for suppliers.
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Surveys with No Completes
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The number of live studies that you currently have in the Marketplace that do not have any completes.
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N/A
| There are two reasons why you might have a study with no completes:
- There is an issue with your setup
- Your study is closed
If your study is closed on your end, make sure you close the setup in the Lucid Marketplace as well.
If the study is live and you don’t see any completes,
check the entrants versus the completes. If a study has entrants but not completes, test the study to ensure the redirects and client-side study are functioning properly.
For more tips, see our support site article on the Analysis page. |
Closing out studies in a timely fashion in the Marketplace and verifying that links are working will ensure that all of your survey entrants are sent into a live study enabling a high conversion rate, which in turn increases your EPC.
It is also a much better experience for the respondent if they aren’t sent to a closed study.
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