How to make money doing online surveys can be a little bit stressful but here we have made it easier for you by showing in inforgraph the step by step ways you can implement to earn money online taking paid surveys.
What Is Online Surveys?
As the term suggests, online surveys are opinion polls where the company conducting the survey is willing to pay you a certain amount of money for filling out online surveys..
Because every company wants customer feedback. They want to know exactly what you like as well as dislike about their products or services. The data they gather during this makes it easier and cheaper to sell the products or services to their real consumers. It also allows them to make perfect decision in the production of goods as well as services that will be successful.
Online surveys are not a recent phenomenon; surprisingly they have been around for decades. Market research firms have been paying people for their opinion for a very long time. The only reason that these types of polls and surveys seem new is because of the advent of the Internet and the ease with which the research companies can bring these type of surveys to consumers.
How big is Online Surveys
Though surveys are not sexy…they are a multi-billion dollar industry with insane profit margins. Most companies in this space have been around for over a decade, but lately there has been a surge in startups fighting for market-share.
How Big is Big?
The biggest fish in this industry makes $200M+ annually with 50% profit margins. And all the top venture capital firms are throwing money to the tune of $50M to $100M per company. With so much chum in the water, there is a feeding frenzy.
Basically, there are two types of companies in this industry defined by the size of businesses they serve:
- SMB (small & medium businesses)
- Enterprise (large companies)
Made for All
Survey companies that serve SMBs do so by offering annual subscriptions purchased online through their websites ranging from $300-$1000. DIY (do it yourself) surveys are then built and analyzed online. The popular fish in the is category are:
- 800lb gorilla that produces $200M annually and is valued at $2B (billlion). They were the first to market over ten years ago.
- Another big privately held company. Unlike Survey Monkey who has raised $700M, the Gizmo claims they are bootstrapped.
Made for the Big Tunas
The other type of company is for Enterprise, meaning huge companies that want the “survey company” to do everything. Pricing start at approximately $25k and custom designs everything for the company. Popular companies include:
- the big fish, valued at over $1B that started off catering to the academic world of universities and colleges. With $220M+ in funding, they are now trying to compete with Survey Monkey for SMBs which represents the most profitable segment of the survey market.
- new startup that is disrupting the survey industry with a fun user experience, beautiful design, and 6x better performance on every metric. Osurv reads minds & predicts behavior. Also going to be competing soon with the big gorilla- Survey Monkey.
Why are Surveys soooooo Profitable?
Because every company wants customer feedback. They want to know what you like or dislike about their product or service. This data makes it easier and cheaper to sell
How To Find Genuine Survey Websites
Get researching, but be careful. There are many genuine online survey companies out there, and cash to be made. Which, obviously, means that there will be deceitful individuals out there as well, seeking to nab a few bucks without working for it. Here is how to steer clear of fraudsters:
Never ever pay up front. A few companies may ask you to pay a little fee up-front for access to online survey lists, and that is completely unnecessary. Check out Terms and Conditions, FAQs, or any other area on a online survey company’s page containing info on how the company functions. (If such info is difficult or impossible to find, consider it a warning sign and cross that website off your list.)
Be sure you will be paid in cash. There are tons of online surveys online that can be completed for money (or points that you simply exchange for money), however, many only pay in gift cards or even enter you into a sweepstakes.
Some websites offer a combination of these, which might or might not be to your benefit. Ensure you know precisely how you will be rewarded by checking a websites FAQs, Terms and Conditions, etc.
A handful of companies offer prizes or products, or allow you to accrue points that you could exchange for such. Many of these won’t be as helpful or valuable to you as money, but sometimes you may get lucky. Just be sure to price-hunt just about any items before agreeing to them (or investing valuable effort into trying to earn them).
Get fine-print savvy. Some sites will say you won an Xbox360 or a new pc, for instance, however if you simply look carefully, you’ll typically find an asterisk close to the “you won” part. Be particularly cautious with weasel words, like “you may have already won,” or “new pc is based on a purchase of gummy bears worth $5,000 or more.” Do not fall into these kinds of traps; they are ridiculously difficult and not just worth it.
Look for age restrictions. Paid surveys can be a great way for teenagers to make pocket money, however, not all websites allow it. (Many permit it if parental consent is given.)
Search for a minimum payment amount. The majority of websites won’t permit you to cash in til you have built up a certain amount of money, which usually reduces the amount of transactions they have to process (and, obviously, gets people to commit more in the website).
Ensure the amount required is reasonable before diving in-twenty dollars is common-and, most importantly, if you don’t like a website and plan to withdraw soon, be sure to time it so that you do not need to do much more online surveys to unlock your money.
Look for paid survey websites that have good ratings. Finding a reputable survey-website aggregator which allows members to rank the companies they have worked with is a great way to do this. Do not take any stock in reviews or testimonials that are self-posted by survey websites.
Too Good to be True
You have heard it before, if something sounds too good to be true, it probably is. And it is no different when it comes to surveys for money. If a survey company promises or suggests in some way that you can make a lot of money by taking surveys, then just move along to the next survey site. Surveys are never going to make you rich, or even help you pay a lot of bills–they can help you make some pocket-money, but that is about it.
Promises of Guaranteed Income
Even though it is likely that most members will be matched up with some surveys, there is no way a survey company can guarantee income, especially a specific amount, no matter how small. If you come across survey sites which guarantee an income from survey taking, then the legitimacy of the company has to come into question.
How to Make Money Doing Online Surveys
Step 1: Research
Now that you have learned way to find genuine online surveys sites. The next thing is to do your research on google for a for a huge list of online surveys. You can get a good list of legitimate paid survey sites @ legitimatesurveysites.com. Note, to make reasonable money enough to take good care of all your needs, you must sign up for more than one Online survey sites. We suggest you join at least five different online survey websites at the beginning, and once you get used to how it works, then you can sign up for more. Let’s say extra 5.
Step 2: Set up Dedicated Email Address.
Now that you have up to 5-10 genuine online survey websites at hand. The next thing is to create up to five email addresses for each of the websites. You can sign up for free email address at Yahoomail.com, Gmail.com, Hotmail.com etc. The reason you need more than one email address is to be able to complete the same survey on different websites without getting rejected.
Creating a dedicated email account just for online surveys will also certainly keep unsolicited mail out of your regular inbox. Some sites might say they would not sell your info, however less-reputable companies may give it away just for a favour. And as soon as your info is out, it is out.
How to open an email account:
1. Visit yahoomail.com on your browser or google.
Filling your details: Filling your details such as Name, New email address name, password, phone number and then click continue.
Verify your email: Then it will ask you to verify your email address with the option of choosing between receiving the verification code via text or call on your mobile phone.
Check your mobile phone messages and locate the a 5 digit number sent to. Copy and paste it on the confirmation box and then click verify and your email account will be verified. Do the same until you are able to create up to 5 addresses.
Now you are set for the next task!
How to Sign up for Online Survey site
Visit each of the online survey sites you found earlier and sign up for each of them. For example: Surveysavvy.com.
Visit the online survey site on your browser eg: Surveysavvy.com and click on the sign up link at the top corner of the homepage.
Filling in your details in the registration form and then click continue.
Complete the remaining details and then click on finish to submit the form.
Take a look at email to confirm. After sign up, companies are going to email the email address that you provided to confirm. Open this email and activate your account to confirm.
Add the website’s email address to your address book. If the incoming address does not match one in your address book, your e-mail account may mark it as spam automatically.
Be well prepared. Surveyors are searching for specific kinds of people, and while you will not be eligible for a every survey (if you are a 25-year-old healthy hipster and they are searching for a 60-year-old couch potato, you are just not going to make the cut).
Complete the online surveys. Many online survey companies provide screener surveys whenever you register, which often don’t pay.
Nevertheless, this is an important first step, and really worth the small extra time it requires to fill these screening online surveys out considering that the more demographic info the market research companies have on you, the more online surveys they are able to send you.
Keep in mind, you will only be matched up with online surveys that you can basically contribute to, if you decide to leave all your screener info blank to get through it faster, you will get fewer survey opportunities.
Check frequently! Be on the lookout on both the website and your email frequently for online survey opportunities. Many companies offer online surveys more frequently than others-and you definitely don’t want to miss any of them!
Any individual online survey website may only offer a couple of online surveys to you in a given month. The more companies you join, the much more online surveys you are able to complete.
Create a rule for your email to ensure that any online survey emails that come in are flagged, make sound whenever they arrive, and show up at the top of your list. Whatever you do to make them stick out will help.
Select and complete the best online surveys. Once you’ve plenty of online surveys available, you can be more picky and select the ones that seem like the perfect use of your time. If time isn’t a problem, alternatively, you can do them all. You are not obliged to complete any online surveys if you do not want to.
Signup with legitimate companies. You will often be asked to provide essential info such as your name, email address, birth date, gender, and address. Down the road in the process, you’ll also have to provide PayPal info-usually connected with an email address-so that you could receive the cash you’ve earned.