Why Leading Marketing Research Companies Want To Pay You For Your Honest Opinions

Leading market research companies want to pay you for your contributions or they would not be in business. The misconception of them being a scam is from bad sites and scammers who front as paid research survey companies in order to pry information and money from unsuspecting individuals.

It is easy to avoid this. How?… With simple research within the bio of the company.

Most research companies come equipped with accreditation to companies like TRUSTe, Survey Police, Better Business Bureau, and many other certifications. These trusted online sources provide the peace of mind for individuals who may have the fear in divulging personal information.

One major key to look out for is being asked to pay to join. All of the legitimate paid surveys on the internet do not ask for a dime to join and sometimes even pay you $5 to $10 or even more to sign up. If your being asked for money then mostly likely it is a scam. I say most likely because there are some legit products out there that may help you do surveys faster, learn how to make money from home doing them, etc.

Companies need you to provide your honest opinions. Your statistics are vital to influencing products of the future.

You may be asked to comment on a future commercial or T.V. show. Your honest feedback will contribute to a national study in order to identify what works and what doesn’t so they can deliver a much better product before it hits the market.

You may be asked for your name and email and that’s it. Most companies have this as a requirement for people to begin earning money with them. Sometimes you may be asked for your phone number to download an app, address to receive test products, or software to download on your computer or mobile phone.

What’s neat is your paid fairly quickly, usually within 24 hours after meeting a payment threshold. In rare instances you will have to wait a week or longer.

Survey companies are in abundance these days. Many have been around for quite a while. As early as the 1970’s as in the case with American Consumer Opinion. With the birth of the internet in the 1990’s they have allowed marketing research companies to expand globally and develop from just a phone and mail outreach service. Now they send them straight into your email account or through text on your phone. I am constantly hit with work in my email and phone every single day.

What you want to do with online paid surveys is totally up to you. If you like taking them for free like I do then you will probably sign up for as many legit programs as you can. From there you can develop a work ethic that is on your time and schedule. You will soon reach exclusive studies and panels from marketing research firms who have developed a long-term relationship with you and have gotten to know your profile.

Paid Surveys – Are Paid Surveys Really Beneficial to Companies?

All of us have always wondered why companies pay us for participating in paid surveys? How beneficial is it for them? Actually, the answer is, paid surveys are really beneficial to companies in every way. Every manufacturer or service provider invests millions in their business to manufacture a product or to provide services. The role of the company doesn’t end once they deliver the product to the end market. The success or failure of a product lies in the hands of the end consumers.

Hence, every company is in need of an unbiased opinion from the customers, about their products or services. In the past era, companies followed manual survey system and postal ballot. However, both methods didn’t help them much as the entire survey taking task was really difficult than one can image. Internet has really come as a boon to all of us. Now, survey has really become easy as company has started following the electronic paid survey method. Electronic paid survey is a great method for companies to reach their customers easily.

So, why do companies come forward to pay incentives for participating in paid surveys?

As discussed earlier, the survey methods followed in the past were really tough and also involved huge costs. However, with the existence of online paid surveys these days, the cost involved for the company has reduced to a greater extent and also it gives them the comfort to reach public easily. People will not be ready to spare their time for filling up some survey for free. So, in order to encourage more customers to participate in paid surveys, company introduced incentives. This is why you get paid for participating in paid surveys.

Moreover, honest opinions from customers help them to analyze the reasons for the success or failure of their product or services. If the survey is for a new product which is yet to be introduced in market, then it will give them a fair idea about how successful the product will be. If required, they can even make some modifications in the product and introduce it to make it a big success. These surveys help them to fine-tune themselves according to market needs, thus avoiding huge losses in the future. Moreover, it also acts as a great source to understand existing market and identify potentials for future market if any.

Why Companies Pay Consumers to Take Surveys

Online paid surveys are a dream for anyone who has been thinking of working from home or looking to pick up some extra income. Providing your opinion in exchange for cash has quickly grabbed the attention of the online masses. With so many people already benefiting from taking online surveys, you might be thinking “Why are companies paying people to take their surveys in the first place?”. This is a core question that all people who take online surveys should know the answer to.

If you want to learn why companies pay to have consumers take their surveys, read on!

Valuable Product Data

Companies are continually collecting as much product data from their target market as possible. Data collection happens through many mediums, such as purchasing reports about a specific target market. Consumer data can also be purchased from several companies that collect and sell non-identifying customer information.

Data from these sources give companies a quick look into who is buying their products. Even though this data gives companies a lot of information about who their customers are, it does not go deep enough to tell them what their customers think.

From a company’s standpoint, data about what consumers think about a product is much more valuable than who a consumer is. The only way for companies to collect this data is by directly asking consumers what they think about a particular product. Most companies collect consumer opinions through the use of surveys, since answers can be made uniform for all participants.

So now we know that what consumers think about a product is worth more than demographic data, but how does this relate to online paid surveys?

The relationship is simple: companies are already paying for data about who their consumers are, why not pay for much more valuable data about what our consumers think?

By offering consumers cash for their opinion, the company is essentially just buying consumer data straight from the source.

Incentive For Consumers to Provide Data

Imagine if a company that you recently purchased a product from, called you and asked if you could take a quick 15-minute survey. Would you take the survey?

A majority of people would definitely give a quick “no thank you” and hang up. Why? Because you’re giving up 15 minutes of your valuable time, get nothing in return, and the company is getting free data.

Companies realize that consumers will not participate in surveys out of the goodness of their hearts. So they turn to the only thing that seems to appeal to people: money.

This is the perfect compromise for the company and the consumer. Consumers are happy that they are getting compensated for their time, while companies are happy with paying for consumer opinions.

So why do you have to sign up at some random website to take these paid surveys?

It boils down to logistics.

Instead of paying thousands of people individually, companies would much rather pay a few dozen websites to distribute their survey. An added bonus is that these independent websites do a much better job at targeting their core demographic than the company themselves.

You, the consumer, also benefit by being able to take surveys from many different companies, all in one place.