Are you looking to make a few extra bucks to supplement your monthly income? Do you want something you can take up in your spare time, alongside your regular desk job?
Online surveys offer you a great opportunity to do so. However, there’s one thing you need to be clear about. You won’t make a thousand million dollars in a month. The earnings are modest and in proportion to the amount of time and effort your invest.
Now, if you are seriously looking to fill out online surveys to make extra money, here’s what you need to know.
Who’s behind these online surveys?
Online surveys are part of a company’s marketing strategy. Customer’s opinions are very valuable in deciding how and where to pitch one’s products and services. Since many companies don’t have the time and manpower to spare for such vital data collection, they outsource the task to data collection companies. These data collection companies get people to fill out these surveys in exchange for a cash bonus.
Avoiding the scams
Given the hype surrounding this online money making technique, the internet is filled with legitimate and illegitimate survey sites. Hence, it is important to sift through them to avoid being swindled. One way to tell genuine schemes from fraudulent ones is whether or not they charge membership fees. No legitimate online survey site should ask you to pay a membership.
Before you register with an online survey site do your bit of research into how it works, which is the company behind it and how and when payments are made. Read up on reviews of past users to know about any problems you might encounter with the site.
How do online surveys work?
Online surveys differ in the way they are structured. Most require you to answer questions. A few require that you test the product as well. There are focus groups as well, which involve a face-to-face interaction. The surveys are based on a wide variety of commercial products ranging from grocery items to electronics to household goods. On most survey sites, you are requested to create a member profile.
Companies involved in data collection look over your profile to see if you are the right candidate for the survey they have. Most often companies will send you a survey link via email or they might send you the survey via email itself. You need to be careful how you fill in the surveys too. If the company realizes that you are filling out the surveys for the sake of it, they will send you less.
Surveys take anywhere between 10 to 15 minutes to complete. The price for regular question-answer surveys ranges between $1 and $15. Focus groups and product testing have a higher earning potential; these surveys are priced anywhere between $50 and $100. The more surveys you fill out, the more you stand to earn. How much you earn also depends on how complex the survey is. As far as payment goes, almost online survey sites have a withdrawal threshold.
If you come across companies offering $300 for filling out a 20 minute survey, it should ring a bell for you. It is different where the companies offer sweepstakes. There are companies that offer bigger prize money to active surveyors often requiring them to collect a certain number of points to participate.
Contrary to what many people think, filling out surveys is not only about making money doing nothing. If you are truly interested, you get a chance to test new products and concepts before they ship out into the market. It’s an opportunity to give your opinion and help others. Follow the right tips and turn this into a safe and lucrative money making venture.