Focus groups can be a sure-fire way to earn some extra cash. Paid market research is one of the easiest ways to supplement your income. It’s also a fun and interesting way to learn about new products and also new media. You’ll get a fresh look at the upcoming trends on the market while making a positive contribution of data to the market of your choice. There’s also an added bonus of free product!
Real companies want to know your thoughts about protein bars, body wash, cleaning products, television and more! These companies will chose 5-8 lucky folks to give their opinion on a targeted product. There are a lot of places to get connected.
Keep in mind, some companies will limit the amount of research you can participate in per year. Don’t go putting all your eggs in one basket. There are a variety of credible sources to find these focus groups and paid market research opportunities. There are several providers on Respondent, Fieldwork and FocusGroup.com. There is also Prize Rebel, Swagbucks and InboxDollars.
Most commonly, you’ll find rates average around $100 an hour. These groups generally take 60-90 minutes to complete. Meaning, you’ll likely earn an average of anywhere from $100-$150 per product.
Often times these online groups work either via conference call or a group video chat. They will occasionally conduct one on one interviews as well. You will be compensated in cash, via PayPal, check, gift card or occasionally Venmo.
If you’re open to listening to a representative discuss their product, taking home some great samples and opening an envelope with some cash in it, we think you should give paid market research a try. Your opinion is more valuable than you think.