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Earning Money From Online Surveys
An easy way to get additional cash is to participate in consumer panels answering market surveys. The pay is not much - and don't believe claims that they got rich for doing surveys -- but the loose change you get can add up to your budget.

by Lyve Alexis Pleshette
PowerHomebiz.com Staff Writer

An easy way to get additional cash is to participate in consumer panels answering market surveys. The pay is not much - and don't believe claims that they got rich for doing surveys -- but the loose change you get can add up your budget. For a few minutes of work from the comfort of your home, you can get rewarded with cash, prizes or other incentives.

How Online Surveys Work

Online market research companies are always on the lookout for members of their panels. Retail firms, manufacturing businesses, and other organizations contract online research companies to get consumer input on their products. Consumer panels are then set up, often based on demographic profile and interests, to respond to surveys designed to get inputs from consumers in the development and improvement of products.

Online surveys include product concept studies, wherein you will be asked of your opinion about a new soon-to-be-launched product based on the pictures and description shown. Others will query you on your usage of a particular type of product, while others would seek your comments on the clarity and effectiveness of a product advertising copy. In some cases, you will receive a sample of the product to test and use. Your opinion will have an impact on everything from product performance to style, varieties, features, pricing, among others. The goal is to determine what product ideas are winners and which are losers.

You will be contacted through email for surveys that fit your demographic profile. Filling out these surveys takes anywhere from 5 to 15 minutes. You will be given a timeline to respond to the survey, from one to two weeks, the comfort and convenience of your own PC and at a time that is convenient for you. In between, you may be asked to fill out "qualification surveys" to help the company match up your profile and interests with their clients. Usually, no compensation is given to qualification surveys.

Earning Money

Some reputable online market companies give monetary compensation, albeit small, to members of their consumer panel. While you will not get rich answering surveys, you will be given anywhere from $5 to $50, sometimes with free products to test, for every online survey completed. If you are asked to participate in 10 surveys in a month for $20 each on average, that's an additional $200 for less than an hour of work!

Others, however, simply offer a chance to win prizes in their monthly raffle drawings. You will have to answer as many surveys as you can to give you more points that will then be factored in the number of chances you can win in the raffle. Raffle prizes range from a low of $100 to as high as $10,000, and are usually drawn every month. While some may prefer the opportunity to win big prizes in raffle draws, there are others who would rather get paid no matter how small for every single survey completed.

There are also companies that offer both cash and non-cash prizes as incentives, such as cruise or merchandise.

Resources to Check Out:

 

July 1, 2003

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