One of the easiest ways to make money online is to take paid surveys. There’s little more to it than signing up, filling out a profile, and giving your opinion on ads, products, or services.
So for something that is that easy to do, how much money can you make from this passive income? Although you probably won’t be able to leave your job and do this fulltime, it is a great way to use up some time that would otherwise be wasted at home. As these surveys will pay cash, and sometimes offer other perks, such as free products, this is a great way to get an additional source of income.
Why Companies Pay for Surveys
Why would a company pay for your opinion? This might seem ridiculous to some people.
Believe it or not, some companies rely heavily on consumer feedback. Some companies don’t have the capability to run consumer surveys and analyze the results, so they outsource this work to survey companies for them.
Although it might seem crazy to pay for customer feedback, this helps companies generate even more money and profits by tweaking products and advertisements before they are released to the public. This feedback could be the difference between successful product launch and a failed product.
How It Works
Taking an online survey is simple, although getting started can take some time. Here are the steps that will be involved to get yourself up and running:
Find a company to sign up with.
For example, a survey company called Swagbucks is possibly the most well known and respected company online, where hundreds of paid surveys will be available for you to take. This is just one example, in reality, there are hundreds of survey companies online that are legitimate.
Create and fill out a profile.
You will need a separate profile for each company you take surveys for. Make sure you make each profile as complete as possible. The reason we say this is because each survey is targetted at a particular demographic, so the company won’t send you a survey to complete unless they can tell you are from that specific demographic.
Most of the online survey companies will notify you about potential surveys via email. Some of these paid surveys are immediately available. However, for others, you may have to complete a presurvey, this is used to ensure you are part of the demographic that they want to take part in. Once you complete this presurvey and are part of the wanted demographic, you will be invited to take the survey, and in turn, get paid. In other cases, you might receive products to your home, which you will review, however, this option is only available if you have given consent for this type of survey.
Take Paid Surveys.
To take paid surveys, just log in and answer questions. Sometimes these paid surveys can be as simple as answering a few multiple-choice questions. Other times, you may be required to type out long-form answers to more specific questions.
To earn rewards from these surveys, the process will vary from one company to another. Some companies will give you points, which you can then convert into cash or other rewards. Some other companies offer to transfer money immediately and directly to your PayPal or designated bank. We have also seen companies that will enter your name into a sweepstakes style drawing, although this could potentially earn you more, we don’t recommend it as you could end up taking lot’s of surveys and then never actually be awarded for your work.
As these steps vary from one survey company to another, be sure you understand how the payout process works when you sign up to avoid wasting time.
How Much Can You Make From Paid Surveys?
As we have said before, you will not make a killing from taking surveys online, but you can make some very easy cash for just a few minutes of your time. This money could then be invested in further passive income ideas, meaning you can start for free and potentially earn thousands of dollars. For example, rewards from surveys can vary from less than $1 to over $20, however, the average seems to be between $1, and $5, this means that if you take 2 surveys for $5, you will have $10, which is enough to get you started flipping domains.
So with a range of rewards, each earning between $1 and $5, if you can dedicate an hour or 2 per day to taking surveys, then over a month it would be possible to earn quite a lot of money per month.
Some companies do not give you cash, but they will in fact help you save money. This is because they offer free products in exchange for surveys, often these are full-sized products. This can be a great way to get free household products, stationery, personal care products, and very useful items such as diapers for those of you with young kids at home!
As mentioned previously, some companies will enter you into a sweepstakes style draw once you complete a survey. This means that it is a lotto, although some survey companies will tell you the more surveys you take the more chance you have of winning, however statistically this is not correct, you will have a specific statistical chance of winning each draw individually, this does not depend on the number of surveys you take. With that being said, some of the payouts from these sweepstakes can be amazing.
So how much money can you make with online surveys? This is dependent on you, should you fall within a demographic that is often surveyed, then you will have more opportunities to take surveys and make money. So really this question is one that you will need to work out for yourself as it is different from person to person.
Some companies, such as Swagbucks, offer prizes, cash, or points for referring ‘friends’ to the service, so to maximize earnings you can also try to bring more people you know into the service and earn from this.
The best part of taking paid surveys online is that it is time that would otherwise be wasted. For example that 10 or 15 minutes you just spent looking at twitter, you could have just made yourself as much as $20. If you can somehow build surveys into your daily schedule, it is a great way to add a top-up to your monthly earnings and add an additional revenue stream to your portfolio.
Spotting the Bad Apples
While there are plenty of legit survey companies online, this market is also full of scams. Some companies which are in this space will sell your personal information. Something that we are completely against, and is an automatic blacklist from this websites recommended website/service.
Also, as like most things in life, never pay a survey company upfront. Even if the website is legit, there are so many scams out there that its better and safer just to steer clear.
Just remember, you are essentially the product of these survey companies, meaning you get paid, this does not go the other way. You should NEVER be paying to take surveys!
5 Companies to Check Out
There are easily in the hundreds of survey companies that could easily be worth checking out, however, we will show you who we believe are currently the top 5 companies to get you started. Should you wish to use another company, that is fine, just remember the section on scams and be careful!
There may in fact be other companies that offer better offers than what we show in this post, if you have come across any survey company that you think should be shared with our readers please contact us with the name and URL of the website, so we can research it and include the company in this list!
To maximize your earnings, you should sign up for multiple sites. This will generate more paid surveys that will be available to you and help boost your earnings from taking surveys online.
Here are 5 companies to help you get started:
(You can find these companies by searching on Google for the following companies)
Swagbucks is probably the best company online because you can earn cash back rewards or gift cards for all your online activity. Swagbucks will reward you for watching videos, taking surveys, voting in polls, online shopping, or in some cases playing online games! Swagbucks is free to signup and is a great way to earn money online.
This company was established back in 1996 and is one of the most trusted survey websites around. However, this website will give you points for filling out surveys, playing video games, reading emails, watching movies, and more. These points can be converted then into gift cards that can be used at a variety of stores such as Walmart, Amazon, Starbucks, and PayPal.
You can read more about their points system and how exactly it works on their website.
This company offers generous amounts of points in return for surveys, you can easily use some of your free time on this website to get some great stuff. At LightSpeed Research you can change your points for cash, or choose a from gift certificates, music downloads, and a lot of other options. We would suggest checking out their website to get the full details and see if you like their methods.
This company does very specific surveys so sometimes it can be hard to get accepted in to take a survey, with that being said, if you do manage to fall into a demographic taking a survey, you can get unbeatable compensation, such as a $100+ gift cards, among other rewards.
This company is a great way to earn a stable income from taking surveys, they pay a flat rate of $3 per survey. The hardest thing with PineCone Research can be that they limit sign-ups, meaning it’s not as easy as just signing up. You will have to sign up when they are accepting new panel members. Should you go to their website when they are not accepting new members, be sure to bookmark the page and come back at regular intervals to check for updates.
This company pays $1-$5 per completed survey, so over time, these surveys can add up. You can also use paid surveys to earn rewards from various retailers. To see if this website is right for you check out their website for further information.