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40 billion reasons why paid surveys online are popular
If you want to find out if a product or an industry is truly popular, follow the money. There are millions of individuals who sign up to fill out paid surveys, but how much are companies really spending to collect those people's opinions and research their marketing strategies effectively?
According to the European Society for Opinion and Marketing Research Global Market Research Report, global marketing research spend passed $40 billion in 2013. But there's one other big piece of information mentioned in the report.
"Secondly, the North American research market takes the title of fastest growing region for the first time since 2000 – underpinned by a resurgence in Qualitative in the USA,'' Finn Raben, ESOMAR Director General, said.
Popular and still gaining steam
In other words, organizations in North America already spent a sizable amount on market research - the region accounted for 39 percent of the global market share, taking second place to only Europe - but they started spending even more throughout the year. That means businesses are paying for more survey-takers, more test audiences and more product analysts and industry researchers to get the information they need to make strategic decisions.
Businesses, especially in the U.S., are eagerly looking for the data you can provide with your honest feedback, and they're willing to pay an increasing amount for it. With more money to spend, that almost guarantees the popularity of things like product surveys and other avenues for collecting consumer opinions will increase.
Why spend all that money?
There are a lot of conflicting thoughts the average person may have about big business. Stories of corporate greed reach headlines frequently, and many question what these organizations have in mind for the average consumer.
At a time when individuals feel their voices aren't being heard, online surveys represent one way the thoughts of the majority can have a big impact on executives and more. That idea is popular in and of itself. People simply like sharing their thoughts and feelings and knowing that their contributions are having an effect somewhere. Surveys are your phone line straight to those executives and corporate officials, and it's in their best interest to listen up.
"The importance of research and insight to society, to government and to business simply cannot be stressed enough," Raben said.
Surveys are how organizations find the answers they need to stay in business. Companies thrive off of popular opinion. It can make or break the launch of a new product or a movie, which means billions of dollars are constantly at stake. Luckily for the average consumer, that gives companies an incentive to find out what you want and give it straight to you.
Businesses want to give you the best products possible, but they need your feedback to do that. Many users know online surveys are one of the easiest ways to improve the products they buy on a regular basis, and that's what makes the service popular.
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