Earning Money by Participating in Market Research

Earning Money by Participating in Market Research

In Market Research Blog by admin

As the calendar flips to a new year, it isn’t unusual for people to wonder how they’re going to pay for all their holiday spending. The good news is the side-hustle economy is well enough established that with some extra effort, people can look for ways to earn some extra cash. Participating in Focus Groups or market research studies is one such way to earn extra income with minimal commitment.

Research participation opportunities abound, but choosing legit studies is not always a given. So how to know if a study is legit? Here are three considerations before signing up to participate in a market research study.

  • What is the reputation of the focus group recruitment agency doing the recruiting? Does the nationwide recruitment agency abide by the Respondent Bill of Rights? If the answer is no, then you’ll want to seek out a different recruitment agency.
  • Does the participant recruitment agency have a written privacy policy statement? You’d be surprised at the number of recruiting firms that don’t make it clear to the study participants how their personal information is managed. Look for firms that put privacy front and center.
  • Honesty is always the best policy. Companies hire nationwide market research firms to conduct research on their behalf and qualitative research consultants are very selective about the types of participants they’ll recruit. Screening tools are becoming more sophisticated to sniff out unqualified participants who sometimes slip through. In nearly every study a participant will be asked to leave before the study’s conclusion because it’s discovered that the participant wasn’t honest in how s/he answered the questions to determine eligibility. If a participant is asked to leave a study early s/he will not be paid. Don’t waste your time by trying to become selected for a study if you don’t qualify. Selecting the best available participants for market research isn’t random. A lot of thought and work goes into identifying the most suitable candidates and when recruits aren’t honest in their answers, they delay the study and cost a lot of time and energy.

If you’d like to be considered for participating in a market research company you have a few options. The first option is to get into a database at a recruiting agency.  Another option is to pay attention to social media ads. Many recruitment firms will put ads on social media sites explaining the types of studies they are recruiting for and you can click on these ads to learn more.

There are many types of methodologies of qualitative market research: surveys, focus groups, and in-depth interviews are but a few. Pay attention to the details of what will be required of you should you be selected to participate in a study. Sometimes travel is required, so be aware of what your obligations to the study are should you be selected, and make sure you can fulfill them before committing.

Qualitative market research is impossible to conduct without people. Participating in studies is not only a great way to earn some extra cash, but also provides valuable insights to researchers. It can be a win-win and, even better, it’s fun.

Want to learn more about Recruiting for your next Qualitative Market Study? Contact us here.
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