1. STRICTLY PRIVATE AND CONFIDENTIALTMRE2014

2. We have a problemSurveys remain the No. 1 source of data formarketing researchers.BUT we have less respondents willing totake surveys or complete them.WHY is this?Hint:CHASE | SOCRATIC TECHNOLOGIES | TMRE2014 2 3. Why it matters that surveys are boringIt all comes down to quality and cost:Respondent engagement is waning Cooperation and completion rates continue to drop Drop-off rates are higherData quality is impacted More respondents flat-liningModels are less robust Less differentiation across attribute ratingsCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 3 4. The Rise of GamificationGamification seems to be the silver bullet,golden ticket,the end-all-be-all,etc.Many game elements do not look new there has been experimentation for a few yearsCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 4 5. A brief look back at historical research...Galesic(2006)Drolet(2009)Metrixlab(2010)Malinoff(2010)Use visualelements toenhance therespondentsexperienceTo keeprespondentsmotivated is bykeeping thequestionsinterestingFun andengagingsurveys keeprespondentsengaged and willingto participate infuture surveysGamified surveyscan lead to longercompletiontimesThe focus and branding of gamification as a holistic set of techniquesCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 5 6. Degrees of GamificationGamification can take many formsfrom restructuring traditional survey questionsto building complex game environments in which panelists can competeThe focus and branding of gamification as a holistic set of techniquesCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 6 7. Engage!Gamification is intended to increase engagement and better data qualityHowever, industry has discussed the ideas but has not implementedWe are set to change that inertiaCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 7 8. CHASE | SOCRATIC TECHNOLOGIES | TMRE2014 8 9. The TestTest the impact of engagement using an experimental design in which we testtwo versions of the same survey:Examples of game-enhanced elements include: Animation Collage builder Drag & DropCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 9 10. Our HypothesisThe game-enhanced experience will result in higher levels of self-reportedsatisfaction and better data quality, measured as follows:Self-reported metrics Interest Ease of Understanding FunData quality metrics Straight-lining and red herring questions Comprehension Word count and quality of open-end responsesCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 10 11. Design DetailsData Collection: n = 1,119 Survey was fielded between August 18 and 25Screening Requirements: Age 18+ No competitive employment Household financial / investment decision-makers Household income over $25K Has a banking relationshipCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 11 12. OURRESULTSCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 12 13. The TheoryChallenges with Testing Complex ConceptsAdding an AnimationRead a text-baseddescription about ETFsShown a shortanimation about ETFsCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 13 14. The FindingsGame-Enhanced respondents have a higher propensity to take action69% 68%53% 50% 40%Seek more informationabout ETFsAt least considerinvesting in ETFsThey also understand the concept better52%Tell a friend or familymember about ETFs70% 69% 75% 65%59% 51% 61% 53%How ETFs aredifferent fromindividual stocksHow ETFs aredifferent frommutual fundsWhen an ETF canbe purchased ona stock exchangeThe feesassociated withETFsStandard Game-EnhancedGreen text reflects a significantdifference @ 90% confidence levelCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 14 15. The FindingsGame-Enhancedrespondents rated theexercise more positivelyStandard Game-EnhancedThis section of thesurvey was interesting to meThe questions asked in thissection were easy tounderstandThis section of thesurvey was fun to complete85%70%80%65%93%71%Green text reflects asignificant difference @90% confidence levelCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 15 16. OURRESULTSCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 16 17. The TheoryChallenges with Personal Experience QuestionsCollage BuildingAnswer a standardopen-end questionBuild a collage andexplain their selections infollow-up open-endCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 17 18. The FindingsGame-Enhanced respondents had significantly higher word countsAverage Lengthof Open End 16words23wordsCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 18 19. Additional InsightsGame enhancement such as collage builder can solicit rich, personalemotional experiencesI am too scared after the 2008 downturn to invest mymoney. I feel like I already have a small amount ofmoney to start with hence my empty pocketsselection, that I would be taking a gamble if I didinvest because what would happen? I feel like I'dlook like the guy in the picture and need to be throwna lifeline and the monkey's face represents how Iwould feel losing money.The image of the archer reminded me that although Ican have my eye on the long-term target, anythingcan happen. The people balancing on the beachremind me that investing is a balancing act betweenrisk and growth. The spiral staircase made me feeldizzy and that's what it's been like trying tounderstand why no one has been held criminallyresponsible for the 2008 mess from the banks orlending companies. The dice is all about gamble andthat's how I feel about investing.CHASE | SOCRATIC TECHNOLOGIES | TMRE2014 19 20. The FindingsGame-Enhancedrespondents found theexercise more fun tocompleteStandard Game-EnhancedThe questions asked in thissection were easy tounderstandThis section of the survey wasinteresting to meThis section of the survey wasfun to complete88%88%75%77%64%76%Green text reflects asignificant difference @90% confidence levelCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 20 21. OURRESULTSCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 21 22. The TheoryCommon Challenge with Attribute ListsDrag and DropSelect from a standard5-point scale of appealDrag pictures of cardsinto different boxesbased on appealCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 22 23. Standard Game-EnhancedThe questions asked in thissection were easy tounderstandThis section of thesurvey was interesting to meThis section of thesurvey was fun to complete86%85%98%95%89%85%The FindingsNo differences betweenrespondents in the twosurvey experiencesCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 23 24. Additional insightGame-enhanced elements have an even bigger impact on lessfrequent survey takersA proxy for your customer listsThe panelist of the futureCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 24 25. CHASE | SOCRATIC TECHNOLOGIES | TMRE2014 25 26. Moving forward!Galesic(2006)Drolet(2009)METRIXlAB(2010)Malinoff(2010)Doran/Yule(2014)Use visualelements toenhance therespondentsexperienceTo keeprespondentsmotivated is bykeeping thequestionsinterestingFun andengagingsurveys keeprespondentsengaged andwilling toparticipate infuture surveysGamifiedsurveys canlead to longercompletiontimesGame-enhancedtechniques can leadto an increase indata quality andengagement butshould be usedappropriatelyCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 26 27. What you need to know Comprehension of complex concepts and overall data quality can behigher when using game enhanced techniques Gamification exercises need to be used appropriately Game-enhanced questions can have a stronger impact on those who takesurveys infrequently Gamification techniques can re-engage respondents, help reignite interest,and counteract survey fatigueCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 27 28. Gamification can help with survey lengthGame-enhanced surveys can take more time. No matter how engaging theexperience, length of a survey is a major factor in respondent satisfaction.8%shorter than actual time28%shorter than actual timeDifferencein ActualversusPerceivedBut, gamification can have an impact on the perceived length of survey.CHASE | SOCRATIC TECHNOLOGIES | TMRE2014 28 29. When to use game-enhanced designDOs: Projects where the targetaudience is customers/non-panelist(light survey takers) When testing complex conceptsand/or low interest topics For important open-endedquestionsDONTs Dont use a game-enhanceddesign unless there is a goodreason Dont let gamification overtake theresearch objectives Avoid using with tracking orhistorical benchmarks projectsCHASE | SOCRATIC TECHNOLOGIES | TMRE2014 29 30. DCha- Cha- Cha- ChangesSelect a forward-thinking vendorDo they have mindset for change?Do they have the tools to set up projects ?CHASE | SOCRATIC TECHNOLOGIES | TMRE2014 30