Close your eyes and imagine a world where you can get paid for your opinions… now open your eyes because we’re living in it! Let us introduce you to the wonderful world of Market Research. Whenever a company wants to launch a new product or alter an existing one they look to you as the consumer for answers. Millions of dollars are spent annually on these findings. Companies need to know numerous things about their target audience, including how well potential products or services will be received so they hire consumers to participate in market research for these products/services.
Paid Focus Groups. Focus groups are an excellent way to take advantage of paid market research. Focus groups are small groups of consumers that have been selected to help develop products and services for release onto the market. As a member of such a group, you can expect to be part of the design, development and refinement process. For example, lets say, there’s a new low calorie beverage about to hit the market but there are two different styles of packaging and flavors. The company uses the focus group to decide which packaging and flavor will be well received by their target audience.
Paid Market Research. While some companies need to get your opinions and thoughts through surveys and focus groups, other companies need different information. You can earn cash for testing products in your home. In some cases, these companies allow you to keep the product or products that you test while others pay you money, and you have to return the product when you are finished with it. For example, a new brand of whitening toothpaste is being developed and researchers want to study how quickly results show in those who smoke more than 4 cigarettes a day and drink coffee. Those who qualify would take the product home, use it daily and jot down their observations.
Sounds great doesn’t it? There are many ways to be selected as a participant for such research. You can contact various marketing agencies and enlist your name, you can look through the misc. job posting section on craigslist.com or you can contact the various agencies that are specifically used for recruiting potential research participants such as qualityresponse.com. Once you’ve signed up for these groups you’ll be contacted depending on whether or not you are qualified. The qualification for each group varies as each company has different goals and target audiences.
Dear Reader, have you ever participated in paid market research? How were you selected and how was your experience?