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What Are Online Surveys and How to Make Money Using Them

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If you don’t have much free time, but need a few extra bucks, consider finding a flexible online side-job that you can easily fit into your schedule – one of the possibilities is earning money by taking online surveys.

This won’t require much effort or time, but prior to jumping to the idea, here’s what you need to know.

What Are Online Surveys?

Online surveys are questionnaires companies use as a means of market research. Nowadays, almost every company does an extensive market research before developing a marketing strategy, launching a product, and so on. Since market research often requires a sizeable amount of money for gathering a focus group, conducting interviews and questionnaires, businesses are turning to online market research. Conducting research online is both timesaving and cost-efficient, and this is where online surveys play a vital role.

Companies can easily conduct them by sharing them via social media or email, and they can collect responses from all over the world. In addition, surveys are a method of quantitative research that aims at collecting an immense amount of data for statistical analysis (opposite to qualitative methods that deal with particular issues and in-depth analysis). You, as a consumer, are a part of the survey panel that participates in the research. You are supposed to provide valuable information about yourself, your consumer habits and your opinions.

How Can Online Surveys Be Used?

gathering data online surveys

Businesses usually use online surveys to collect valuable consumer data which might affect their business strategies and approaches. They can use surveys in two different ways:

  • To collect different pieces of information about customers, from their demographics (age, gender, education, etc.), to their social habits and preferences (clubs and events they attend, activities they like, causes they support, and so on). This can help them gain deeper insight into the mindset of their consumers, which they can use for creating better strategies and products.
  • To collect information about a specific product, service or brand and consumers’ reaction. Of course, this can enable them to improve their products and services and make them more appealing to the audience.

Why Take Online Surveys?

Legitimate questions you might ask yourself are “why should I waste my time on taking surveys?” or “what’s in it for me?” Well, companies have made sure that it pays off for you, too. Businesses usually offer incentives for consumers who take online surveys. You can either earn money or get points for each survey you take. The points can later on be exchanged for gift cards, discounts and other rewards. Therefore, instead of disregarding surveys as a waste of time, you should actually see them as a great way to make money online without much effort. While providing companies with valuable data, you’re making some easy money on the side. Additionally, if you like filling out questionnaires, you why not cash in on it?

How Does It Work?

online surveys

There are many websites where you can create an account and start taking surveys. After creating an account, you’ll move on to providing some basic information concerning your age, gender, education, employment, marital status, etc. You can choose how many survey you want to take on a weekly basis, and then you’ll receive emails with surveys that correspond to your demographics. You’ll need ten to twenty minutes on average to complete a survey. Based on the time it takes to complete a survey, you can get paid up to 30 dollars for an hour-long survey. Finally, depending on the reward system of a particular website, you’ll either get points or an actual cheque.

Taking paid online surveys won’t become your full-time job, but it’s a great way of earning some extra money. With little effort and time, you can you can slowly build your nest egg.

About SmW

Sonia is an Australian blogger writing about latest tech and startup buzzes. Her passions are books and movies.

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