« Back to Blog
Why is your opinion worth paying for?
Some people don't know what to expect when they're offered to earn money at home simply by answering a few questions and sharing their own opinions. It almost sounds too good to be true. Why would anyone pay to find out your opinion?
It's called market research. It's the most lucrative tool at nearly any business's disposal, and it starts with analyzing the thoughts and feelings of consumers like you. The answers you give after taking a paid survey are combined with thousands of others so that companies can analyze the data and identify potential opportunities and predict the success of new offerings.
Take a step back, though, and look at how paid online surveys became the No. 1 tool used by big businesses.
How small businesses conduct market research
You've most likely been part of a market research experiment already. Every business, big and small, conducts some sort of market research. It just might not be through distributing online surveys. Take your small mom-and-pop restaurant for example. It might not benefit from creating an online questionnaire, but it likely uses online tools like Yelp! or paper customer feedback cards to gauge how satisfied customers are.
After collecting dozens of those forms and reviews, the restaurant will start to see patterns and trends, and owners can use that feedback to provide better services to visitors.
What happens when that restaurant becomes a chain, though? What if they have locations all across the country? Suddenly, those customer feedback cards can't be collected quickly or efficiently enough to tailor business strategies.
What's more, any changes being made will occur much more gradually. Changing a menu option is easy for a single restaurant, but doing it for hundreds of locations becomes a tremendous task. Suddenly, the company has to start predicting what customers will want ahead of time to keep everyone satisfied.
Electronic surveys are the answer
Consider if the fictional company made electronics - maybe even smart watches. Smart watches barely even existed just a couple of years ago, and now they have the potential to make billions of dollars in the free market. But businesses will only get a piece of that pie if they deliver a smart watch consumers like. How will the company find out what consumers like quickly enough to develop a device before the competition?
The answer is through online survey results. The company could craft a survey with very specific questions about what consumers want in a smart watch. After distributing those surveys to thousands of people and receiving thousands of answers, they could then see what some of the most popularly wanted features are and start there.
Hundreds of companies go through this process every day. They use electronic surveys to find answers about packaging, logo colors, device characteristics and almost anything else you can think of. However, the only way they're guaranteed to get your help is if they offer you a little something in return. And that's what makes your opinion worth paying for.
« Back to Blog