How Big Is The Online Surveys’ Industry?
Online marketing that results in getting paid for online surveys is a big industry in itself. It is estimated that around $250 billion are spent on online marketing every year and 3 times that money is invested in market research yearly. There are over 7 million companies that actively survey the consumers to find ways to launch and promote their products. There are hundreds, of surveys available every day and it will only increase with time.
Who pays for and sends these online surveys?
Instead of launching a new untested product or service, companies are willing to pay for online paid surveys by gathering opinions of consumers that helps them to redesign if need be, or improve their product or service prior to releasing it for sale. Thus such companies reach out to a group of people who match the user profile and send them products and services to test. Or send questionnaire or take online surveys to know the preferences of consumers. The person who has been chosen or agrees to take these surveys gets paid for doing so.
How does having a computer and access to internet help?
The Internet has resulted in a revolution of paid online survey databases. If one has Internet access and is connected to the world, it provides you with the opportunity to make money online by completing surveys for companies that need your opinion from home! these companies send out surveys to your mailbox. You just need to check your inbox, pick the surveys you want to take and send them after completing it. Internet has made it a lot faster, economical and effective.
What is the procedure to take online surveys?
Register with companies looking for people to take online surveys for their products. Check out their policies. Register with as many of them as you can. And you will start getting surveys from them and eventually you will start getting paid for taking online surveys.
The Simpler Option
The easier option is to register with companies who are specifically affiliated to these online survey companies and have an online survey database. Once you register yourself with this outfit, you won’t need to go searching for companies and spending time checking and finding out about their payment and other policies individually. You will need to pay small fee to such outfits which is worth it, considering you are saving so much time and energy.
How long does it take to fill out surveys?
Considering your typing and thinking speed is average, it shouldn’t take you more than 15-20 minutes to do one survey. Focus groups are another type of surveys which is like participating in online discussion, brain storming kind of interactive session, which last for about 30-40 minutes. For participating as Focus Group Member you are paid more than you are paid for taking online surveys. One makes anywhere between $5 to $150 per survey or focus group discussion.
Do I pay taxes on this income?
Oh yes! You receive this money through check and fair medium therefor you can’t evade taxes at all if you fall in the tax paying bracket. It also has a lot to do with tax laws in your country/area. You will usually be considered an independent consultant for tax purposes when participating in surveys and focus groups.
Is there a limit on number of surveys can one take in a day?
No. As long as you are abiding by rules of the company. One survey requires at least 500 participants for accuracy purpose. Scope thus is wide.
Any special requirement to take online surveys?
Access to internet, computer at home, preferably (so that you don’t have to commute) and you got to be 18 years old.
Rough estimate of the money you can make taking online surveys:
One survey @ $20 per survey will make you $600 every month. Participating in one Focus Group per week @ $150 per Focus group will earn you the same amount. And $1200 for doing all the above which will take not more than 30 hours in a month! Working for 30 hours in a month for $1200? Not a bad deal. That too when you are getting the comfort of working from home. So register yourself with online surveys and start getting paid.