Journal Article

Understanding the Motivations for Business Participation in Voluntary Web-Based Business Surveys

Abstract: As survey response rates decline nationwide, Federal Reserve Banks face challenges to engaging business survey panelists to collect some of the economic data that helps inform monetary policy. This Economic Commentary examines what motivates businesses to participate in some of the survey panels run by the regional groups at the Federal Reserve Banks of Cleveland and Richmond. Based on 312 survey responses, our results show that while helping the Fed is the primary motivation across all segments, participation drivers vary by firm size, recruitment method, and panel tenure. These findings have led the regional teams at both the Cleveland Fed and the Richmond Fed to implement targeted engagement strategies that build ongoing relationships with our survey respondents and demonstrate how survey data informs monetary policy decisions.

https://doi.org/10.26509/frbc-ec-202618

Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Commentary

Publication Date: 2026-08-17

Volume: 2026

Issue: 18

Pages: 12