Paid surveys are a huge business on the Internet. There is good money to be made with legitimate paid online surveys that pay well, on time and in cash or equivalent. However, only about 20% of the total number of surveys being made are of this type. Understanding how the paid survey business works is the first key to success.
The second key to being able to get paid to fill out surveys and make money is to get a good list of legitimate paid survey panels that offer this kind of survey. You will need the first key to find the second key.
Here’s how the business works: Large companies need a constant flow of information about various aspects of consumer opinion, perceptions and preferences.
These companies commission market researchers to measure consumer sentiment and report back to them with their findings. Methodology to be used is discussed, surveys are often used.
Proposals are made, discussed, adjusted and ultimately approved and funded. There has to be adequate budget to fund all parts of a survey, including making sure that the participants get paid to fill out survey questionnaires.
Some survey makers, hired by the market researchers to handle the mechanics of individual surveys, pay participants well, on time and in cash or equivalent.
Others try to keep more of the total budget for themselves and use smoke, mirrors, promises and lotteries to pay participants considerably less.
The good-paying survey makers make up about 20% of the total. Of the rest, about half (40% of the total) does eventually/sometimes pay participants, but in lesser amounts. The other half almost never pay and also make money in other ways, like selling things to their list and selling their list to sales companies.
The 20% of survey makers that pay well have low turnover and almost never pay recruiting fees for new participants. They don’t have to. Their survey participants get paid to fill out surveys, are happy and stay with them.
The other 80% has high turnover (surprise, surprise!) and must constantly recruit new survey participants to replace those that did not get paid to fill out surveys and quit. They pay high recruiting fees to get new participants.
When you Google “paid surveys” you will find plenty of list purveyors pursuing you to take a copy of their “free list”. These people live and prosper off of recruiting fees they get for recruiting YOU! Since the good 20% of survey makers don’t pay recruiting fees, their names rarely appear on such lists.
Steer clear of those “free lists”. The list purveyors will make money, the survey makers on those lists will make money, but the survey takers, the survey participants who want to get paid to fill out surveys, won’t make money.
O.K. So now we know to, “Beware of Greeks bearing gifts.” (-old Trojan saying!) and avoid “free lists”.
But the question remains, how DO we get a good list?
The answer is that we must look to someone who cares whether or not we make money with their list. The best place to find such a list is at paid online survey membership sites that maintain lists of good survey makers for their members. For a small one-time fee you can join and get a copy of their list.
There are around 200 of these sites. Not all have resisted the temptation to “double dip” and put a few (or a lot!) of survey makers that pay recruiting fees on their sites’ list. So we must choose one with care. Here’s how:
1. Only consider paid survey membership sites with STRONG money-back guarantees, backed up by a financial company like PayPal or ClickBank, or a bank. If a paid survey site won’t guarantee your satisfaction, if no one will underwrite their guarantee, then steer clear of them!
There are more than 70 paid survey sites that offer this type of strong guarantee.
2. Within the group with strong guarantees, look for one with a low refund rate under their guarantee. Low refund rates mean happy clients that used their list to get paid to fill out surveys, made money and were satisfied.
High refund rates mean unhappy clients that used the site’s list to get paid to fill out surveys, did NOT make money, were dissatisfied and demanded their money back.
So pick a paid survey membership site with a low (3-6%) refund rate, avoiding any with refund rates as high as 9-10% or more.
Sign up with that low-refund-rate site, get a copy of their list and then sign up with all of the survey makers on their list. The more you sign up with the more surveys you will be offered and the more money you will make.
You will have then positioned yourself to join the happy clients of a good paid survey site with a good list. You should make enough on the first 2-3 surveys to repay your membership fee. From there on you just get paid to fill out surveys and make money.
The only way to lose is to get the list and NOT sign up with all the survey makers on it. Survey makers compete with each other; they don’t share lists of participants. You have to sign up with each one separately.
Survey makers cannot send you surveys if they don’t have your application and demographic data on file. If you don’t get survey invitations you can’t very well get paid for filling out surveys!
So make all your applications, take the surveys and watch the cash roll in!
To get more information and details on how to get paid to fill out surveys you can follow the links below…