Participate In Market Research And Get Paid For It
Market research is a very significant business for all companies, especially for the ones that target to grow. Due to this, they throw a lot of money on paid research studies. By doing so, they aim to learn the opinions of consumers about their goods and services; ideas about new products, services or strategies; consumer behaviors etc. Right analysis of these is invaluable for companies.
Real life experiences are not easy at all. The only possibility may be field work. However, getting analytical results are not easy from these studies. Then the best way is conducting well-structured market surveys.
Face-to-face researches are traditional survey method that is still very significant. However as technology developed and people come near globally through the internet, the opportunities for market research are expanding. Online market research is one of the most popular methods used by almost all leading brands.
Why Do Companies Pay For Market Research?
Consider you develop a product thinking it is the best on in the world. However, there are just a few people willing to pay for it. The sales are not as expected and all the investment including research and development payments are wasted. But what if you make a research to get consumer’s opinion about this new product? Probably, you will learn they are not willing to pay this product at all and before wasting a huge amount of money you will cancel the investment. This is a good summary showing why companies need to make market research before their decisions on investment.
Market research is a huge business and today exists as a new sector itself. The main aims can be summarized as
- Understanding the relevant markets of goods and services.
- Understanding consumer’s behavior.
- For the prediction of how much money people are willing to pay for certain services.
- Getting opinions of consumers on new products or services.
- Learning tendencies and daily habits of consumers to develop marketing strategies.
- In creating a targeted group for the new product by analyzing the interests of the specific groups.
- Getting new ideas for investment.
Methods Used In Market Research
There are different methods for market research. For instance, face-to-face interviews may be conducted whenever deeper analyzes are needed while questioners are enough to get more data with shorter information.
Popular research studies include:
- Focus groups
- Phone surveys
- Sample taking
- Online surveys
- Product testing
They all cost to companies. For instance, focus groups give deeper ideas for a specific issue however you need to find the right people, get them together in somewhere, make them speak about the issue, record the data, analyze all the data and get results. These are both time-costly and payments needed for other costs like hiring a place, transportation, people working for analysis, incentives for participants etc.
Some type of studies is more costly than other but may give better opinions while others may be cheaper but may give introductory ideas. Companies make a cost-benefit analysis to choose the right and effective method. However, “no research” is not an option for any of them.
What Should I Do?
As a result of these, companies need your opinions and they are willing to pay you to motivate you. Today paid market research online is the easiest and fastest way of earning money through these needs of companies. You don’t need to go to any lab or research center. You don’t need to make face-to-face speeches. You just need an internet connection and express your ideas.
In general, companies don’t prefer a direct connection with consumers. They work with survey sites to conduct surveys. As a result, the first thing you should do is registering such platforms. Note that these are all free for potential customers and don’t register if a fee is demanded. The more platforms you registered, the more opportunities you get to make money.
Control your e-mail periodically since most of the sites send the survey alert to your e-mail. You may also download the apps. In this case, you get notifications.
Surveys are time-constrained. Complete them on time to make money and increase the opportunity to receive more surveys.
Be honest and consistent in your answers.
How Much Money Could I Earn?
It depends on the type of research conducted. For instance, if it wants you to answer a few questions in a few minutes you can earn $0,25- $1 for each survey. On the other hand, if you participate in focus groups studies taking one to two hours you may get $100 for a study. For face to face questioner conducted at the door generally prefers not a payment but a product as a promotion.
How Could I Find?
If you want to attend face-to-face research, you can contact local research centers. The research centers of universities may be a good start.
If you want it at home, there are many online platforms presenting paid market research opportunities. Below, you can find some of them.
Sites For Paid Market Research
Respondent is a platform conducting consumer research studies online. The average payment per hourly study is $150. You need to create an account to see available studies you can participate. You find information about necessary demographics of participants, time commitment and pay rate. Generally, you complete a pre-survey to test your match. If the company thinks you are qualified enough, they call you. The site takes $1 and some proportion of your money if you earn money from the application. The payments are made through Pay Pal within 8-10 days after research.
The site conducts online and in-person consumer research. You are expected to make conversations about products and services. They offer $10 for multi-page screeners, $20 for pre-screen candidates over the phone and between $20- $200 for detailed interviews. The payments depend on the company.
The services of the company include paid focus group, testing new products, watching videos, online surveys etc. The highest payment is offered by interviews made by phone or webcam. You may be paid between $75- $200 per phone or webcam study. However, to participate in such a survey you need to make a pre-survey and evaluated as qualified for the research.