Benefit from online surveys

Market research

In current business world, before releasing any new products or services, it is recommended to have it tested in advance. Before spending huge amounts of money for creating, designing, manufacturing and marketing new products, companies have to find out if people are going to buy and use it. Or, for example, even after producing the goods for a long time, and then noticing that, at some point, the sales have decreased, it is recommended to find out the reasons for that to be able to solve them later.

This process is called market research, which is very important component of business strategy. Market research is a key factor to maintain competitiveness over competitors. It involves social and opinion research, and it is the systematic gathering of information about individuals and organizations using analytical and statistical methods to gain insight or support the business decisions.

By determining consumers' feelings about the certain products, their needs and wishes, it becomes easier for companies to adapt their businesses. Companies spend huge amounts of money every year on focus groups, testings, interviews and surveys. However, those methods are pretty costly, they need both high financial and human resources.

During the last years, companies tend to use online market research. This way, surveys can easily be conducted online or via e-mail and they do not require such enormous resources. Since the companies usually do not have time and human resources to do it themselves, they approach to the agencies providing online market research services. Such agencies prepare the surveys according to company's wishes and goals, and then search for respondents. Once collected, the information is analyzed to assess buying trends and consumer behaviour. That helps for the company to make any solutions concerning existing or new products before releasing it to the new markets.

The online surveys in general

Are you a mother with small children, university student or just a person who would like to increase the income by doing something extra? There are some different kinds of work from home. Depending on personal abilities and skills, every person is able to choose his own way. However, what to do do if you don't have such extraordinary skills which you could use to earn some extra cash? Nowadays, in the Internet age, there is a solution- you can take online surveys

Online survey is a new worldwide trend with free paid survey opportunities available in the USA, Australia, Canada, and many other countries. Online surveys are part of the family of self- administered surveys (Internet, post, etc.). The participant of the survey has to agree to respond regularly to the online surveys covering health, sport or any other aspect of the daily life. and then from time to time (how often he chooses to take online surveys), he gets them straight to the e-mail and fills them whenever he can. A panelist for a completed survey, as a reward, depending on a company, can get cash or points which they can later exchange to gift vouchers, discounts on certain products or free airline miles.

How to make money by taking online surveys?

Obviously, online survey is conducted on the Internet. Panellists can answer the surveys whenever they want and as often as they wish. So, the only two things you need to have: computer and the Internet. And some extra time, of course.

First of all, a panelist has to register at the website and provide basic contact information. Afterwards, he receives an e-mail with a link to a page where he gives more individual demographic information regarding address, age, sex, race, education, employment, etc. Then panelists receive periodic e-mails containing links to surveys which are matched with the information provided before. In some sites it is possible to choose how many surveys you want to receive in a week.

By providing their opinion, the panellists give input for the further development of products and services. Very important, that the quality of an online survey depends on honest and diligent answers from respondents and the reliability of information provided. Generally, it takes 10-30 minutes to complete one survey. Totally depending on a website, company and certain survey, later on, he receives a reward which can be the points you can exchange later on Paypal or some vouchers, etc. If later it turns out that you don't qualify for a survey (the survey is for school teachers, but you are a university teacher), you may get a partial reward.

The answers provided remain confidential and safe, they can not be provided to the third parties. Your contact information also remains confidential, you will not be bothered by any advertising, telephone calls or e-mails from unknown people.

Benefits Online Surveys

Who can do the online surveys?

Generally, the surveys are for different age people, usually beginning from 14-15 years old. However, the surveys are different and they appeal to different age people, different nationalities, coming from various countries, with diverse education and work backgrounds. Therefore, before giving the survey to the people, the system defines the criteria for a survey, and then selects the right target group.

Depending on the company and its survey, it can be for people, for example, from 14 to 20 years old, or only for bachelor degree students, etc. So, if you are in the right category for the survey, you are entitled to take it. There are dozens of online surveys- part of them cater only to Americans, another part caters only to Australians, and so on, some of them are for students of a particular field.

The advantages of online surveys

  • Time flexibility. You can do it whenever you have spare time (in the middle of the night, early in the morning- totally up to you) and spend as much time as you want.

  • Place flexibility. Of course, as it was mentioned, you can take the online survey from the comfort of your home, but you can do it wherever you want to- maybe in a summer house, in the coffee shop or going home by train.

  • You don't need any other resources, except for the computer and the Internet. Isn't that great?

  • Great way to express your opinion which can be really beneficial. The responses from panelists may have a significant effect on development of new products and services. If you belong to the panel, you will have a chance to tell the companies directly how you feel about their products or services. And what is important, this opinion will reach the company straight away! Hopefully, the company will even consider it and you will be able to contribute to development of products or services.

  • It is a legit way to earn extra money.

  • Your personal information you provided is safe and not shared with third parties.

  • You are able to know exactly how much money you can earn.

  • You are the boss for your own and there is no stress around.

  • You don't need to have specific training or educational background to take this activity.

  • You don't need initial financial investments to start doing this.

  • It is a way to be the first to know about new products or services before they are released. Many companies use online surveys to explore what reaction their newest products and services are likely to receive. You may know about potential new products well before they are released to the public.

The financial benefits of online surveys

Different websites suggest different financial rewards for taking surveys online.

As it is already known, it is a way to earn money online. Usually by taking surveys you collect points, which later you can exchange to certain gift vouchers or cash. Many consumer research panels pay in cash or Paypal vouchers for completing the surveys. Besides, you would probably have to open Paypal account if you don't have one yet. In addition, it is possible to get some gifts or participate in prize draws. In some special cases, if a panellist's knowledge is particularly valuable for the business, the sums can be incredible.

How much money can you earn and how to make the most money?

Again, as it was mentioned before, it really varies on the person individually. Depending on how much time the person can have for taking online surveys and how often he is able to do that. Usually one survey takes approximately 15-20 minutes and depending on a company and its survey you can earn different amounts of points (which you can convert later to cash or vouchers). So, it mainly depends on your spare time and efforts.

The goal of online surveys

Although it might look weird why the companies pay such money for panellists, the answer is: the companies want to sell their products and services for the customers who are the same as you, therefore, your opinion counts and is so valuable! However, there is a risk for companies in this case because panellists might start cheating on that - create different accounts with new e-mails, new details so that they could get other online surveys to take them and earn more money.

Online surveys can be beneficial for both: companies individually and panelists. As we have already discussed the benefits for panelists (a way to earn extra money, to share the opinion, be the first to know about the products), it has a high value for companies as well. Before releasing the new products or services to the public, the companies have to be aware that consumers will purchase it.