Online paid surveys are questionnaires that contain a series of questions around a specific topic and can be accessed through the internet. Their purpose is to gather large volumes of quantitative data easily, though they can also rarely collect some qualitative data.
Usually Panel websites will ask you to complete a certain number of “profiling” questionnaires in order to know when a survey is relevant to you or not.
For example if Sainsbury’s wants to only survey their customers, there is no point inviting a Tesco customer as he/she will not qualify.
Now, whilst panel websites do their best to have as much information as possible to not invite respondents who will not qualify, sometimes they need to add “screening questions”.
For example Sainsbury’s only want to survey their customers who buy a specific brand. The panel company may invite all the Sainbury’s customers but will have to disqualify respondents who do not buy this specific brand. This is where respondents are “screened out”.
A paid survey is used to collect quantitative information about the participants' personal and economic habits set against their particular demographic.
Research companies often use online paid surveys to gain a deeper understanding of customer’s tastes and opinions. By offering a cash incentive to respondents in return for feedback these companies are able to quickly fill quotas and collect the information being sought by the client. To take part in these paid surveys, consumers show an interest in sharing their opinion by registering to panel websites.
The insight gained from these surveys is crucial to help Companies & Brands make correct decisions, and avoid a flop by launching an unwanted product, for example.
There is no set rule in how much you can earn. It all really depends on your dedication. The more surveys you answer, the more you earn. Panel websites also organise lotteries, like Panel Opinion who has a monthly VIP draw to win £250. Typically a survey will pay £0.50 for 10 minutes.
Genuine survey companies will ask for basic information upon registration such as name, age, address and occupation. This helps to categorise each member so that they can determine which surveys match your profile.
Taking surveys is one of the most common ways to earn money by giving your opinion. Companies really depend on and value consumer feedback as it helps them improve their products and services. Contrary to popular belief that survey companies are scams, there are legitimate ones out there and you’ll need to make sure you work with a survey company that is associated with an actual market-research company. We have listed a couple below.