If you google for Online Paid Survey, the search result might come up with a Market Research term.
Market Research itself sounds too heavy, technical, and professional.
Simply, in business, the company needs feedback from consumers to value their product.
It could be for evaluation or improvement, and so governments and organizations.
For that, they need to do market research by doing a survey.
As technology is more advanced, now these companies, organizations, etc., also migrated from doing an traditional paper based surveys
to digital surveys that are dominating the consumer research landscape today.
Consumers who signed-up for panels (aka panelists) will only need the internet and smartphone or PC to give their opinion
towards products or services.
Who does not want to earn a little extra cash to spend on a family event or special night?
Paid market research allows panelists to get some extra bucks and allows you to voice your opinion on everyday goods, services and brands.
Your feedback is critical in ensuring these businesses maintain their competitive edge and keep their heads above the water.
How to get rewarded for participating in Market Research
There are many survey panel companies. A market research panel is a group of survey respondents (panelists)
who are signed up and have agreed to take part in a survey and or other market research.
They usually share a lot of information about themselves and their household, which can be used for appropriate sample selection.
This panel allows you to sign up and subscribe to their newsletter.
The survey panel is like a bridge connecting companies, governments, or organizations to their consumers, users, or the broad population.
Once you have signed-up to the panel, they will start inviting you to take part in online paid surveys.
Some surveys are then sent to your email or through their respective mobile app, and you will be notified to take a survey.
Then they will give you rewards in return for your honest opinion.
How paid market research works
The organizations design their surveys and pass them to the panel. The panel distributes them to the panelists.
For each survey taken by the panelist, organizations will pay the panel a particular amount, then the panel keeps some of
it and gives cashback to panelists as rewards. The reward could be in a form points; the more you answer,
the more you earn points. You can then exchange the points you've collected accordingly; could be shopping vouchers or cash,
depending on the survey panel policy.
Is market research a form of advertising?
No, it is not advertising and you are also not supposed to buy anything in the process.
Paid market research is not a sales pitch to get you to buy something.
The purpose of online surveys is to get feedback about products and services from those who use them in our daily lives.
They will never try to sell you anything, and you will never be asked to pay for anything - you are the one who is getting paid in
the process. You can try it without worry and you can also leave those panels and unsubscribe any time.