{"id":1625,"date":"2014-08-09T20:19:09","date_gmt":"2014-08-09T20:19:09","guid":{"rendered":"http:\/\/surveysatrap.com\/?p=1625"},"modified":"2014-08-09T20:22:15","modified_gmt":"2014-08-09T20:22:15","slug":"what-are-paid-surveys","status":"publish","type":"post","link":"http:\/\/surveysatrap.com\/what-are-paid-surveys\/","title":{"rendered":"What are Paid Surveys: Scam or a Legit Market Research Tool?"},"content":{"rendered":"
In the world of business, executing an idea before testing the waters is considered amateurish.<\/p>\n
Therefore, before a company goes ahead and spends a million bucks in designing, manufacturing and advertising a product, it\u2019s important to know beforehand whether there is even a market for it. <\/p>\n
This entire process is termed as market research<\/a>.<\/p>\n <\/p>\n Market research generates huge business volumes<\/a>.<\/p>\n American companies alone spend more than a billion dollars every year on different things like product testing, focus groups<\/a>, surveys and interviews; all with the aim of determining which logo enjoys the highest recall factor or which cola flavor is enjoyed by the most number of people or which movie will become the next summer blockbuster.<\/p>\n In order to save money and time, many of these companies have started to use internet market research. Surveys, for instance, are pretty easy to conduct either via websites or even emails.<\/p>\n Roughly speaking, an email survey for a size group of 200 will cost anywhere from $2,500-$5,000. Comparatively, if you want to conduct the same kind of survey through snail mail, expect the cost to be around $5,000-$7,000. Surveys conducted over phones can even cost up to $15,000.<\/p>\n Over the last few years, most American market research companies have established online survey panels<\/a> that are responsible for recruiting panels and gathering information.<\/p>\n The power and reach of internet allows these companies to seek responses from thousands of people within a few hours or days instead of the many weeks or months it took earlier to conduct surveys and interviews via phone or postal mail.<\/p>\n Another advantage with online market research is that previously untapped demographic groups (due to limitations of phone and mail mediums) are now being brought under the umbrella of online research.<\/p>\n Some of the biggest brands and companies all over the world pay these market research companies millions of dollars to know more about the opinions of people about their products and services through these online surveys.<\/p>\n The responses from every survey you finish play a huge part in the development of different products\/services by top companies.<\/p>\n <\/p>\n To motivate consumers and encourage their further participation in online surveys, many survey companies tend to offer rewards.<\/p>\n Sites like MySurvey<\/a> and Global Test Market<\/a> offer their consumers either money or reward points in exchange for every survey they complete and submit.<\/p>\n The reward points can be further exchanged for things like free airline meals, product discounts or gasoline gift cards.<\/p>\n Surveys that carry incentives are better placed to attract a wider and more demographically suited range of consumers as compared to surveys without any incentives.<\/p>\n As such, paid online surveys are akin to a win-win situation for both the consumer as well as the company.<\/p>\nMarket Research Industry is Huge!<\/h2>\n
Why Pay People for Their Opinions?<\/h2>\n