Focus groups can help you earn some extra cash without having to spend a lot of time or do any tiresome work. You can now participate in focus groups online, from the comfort of your home or at a testing facility. If you have a few spare hours every week, and if answering some questions seems like fun, then focus groups can be a good opportunity for some extra cash.
What is a Focus Group?
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When a company has a new idea for a product or service but is unsure about the public’s reaction, it often conducts a focus group. This requires selecting people who meet some type of criteria ( age or monthly income) and asking them specific questions about the idea, such as how they feel about certain features or how much they would pay for it. During a focus group, attendants are encouraged to discuss ideas with one another to express opinions and to ask as many questions as possible.
The results from these sessions are very important for market research, and companies are willing to pay people to participate in focus groups. You can find focus groups that do market research for certain products, political campaigns, academic studies and other topics.
How Much Can You Earn?
Although there are many websites that promise big cash for online focus groups, don’t get your hopes up too high. If a focus group pays over $200, it is because it either takes a while to complete, or it is complex and finding the right participants is challenging.
In most cases, you will earn between $5 and $20 for quick online focus groups, or between $30 and $200 for larger, more complex studies. The amount of money you can earn varies a lot depending on the company who’s conducting the focus study.
How Does it Work?
When you apply for a focus group, you will have to provide some basic information and then answer a questionnaire related to the topic of the focus group.
If your answers match the type of participant that is sought, you may get a pre-qualification call, where you will be asked additional questions. To test your honestly, some questions may be the same as the ones from the application form.
Finally, if you are selected, you will receive instructions on how to complete the study. This can require doing a project, testing a product or logging into a website from home.
Alternatively, you may need to visit a location where the focus group will be held. There, they will most likely give you a name tag and invite you in a room with other people. A moderator will lead the discussion, ask participants questions and gather their opinions on certain issues. At the end of the focus group, you will receive your payment, which can be a gift card, check or cash.
The Best-Paying Research Companies for Focus Groups
If you’d like to give focus groups a try, we have put together a list of top paying research companies:
FieldWork
FieldWork is one of the best known marketing research companies with offices in Atlanta, Boston, Denver, Dallas, Seattle, San Francisco, among others. Focus groups usually last between one and two hours, and pay, on average, $75 for attending.
FocusGroup.com
FocusGroup.com organizes focus groups for a wide range of products and services. To join, you will have to complete your online profile and answer a survey. Based on the answers you provide, you may be invited to in-person focus groups, phone interviews or online questionnaires. The studies pay between $75 and $200, and it is possible to participate via phone or webcam.
MindSwarms
MindSwarms does consumer research for products and services; to apply for the studies, participants will have to create a video profile answering seven questions about themselves. Once your video is reviewed, the platform will display studies you qualify for. You can apply for surveys, and if you are picked, you’ll get paid 24 hours after completion. The company pays $50 for every survey directly into your PayPal account.
Respondent
Respondent is an online platform for market research where companies post their projects and allow users join the research group. Studies can be conducted both online or in-person, and pay between $50 for 30 minutes or over $100 for over an hour.
You can sign up on the platform using your social media profile, either Facebook or LinkedIn. After signing up, you can choose from a wide range of subjects, and if you are selected, you can participate in the focus group.
20|20 Panel
20|20 Panel organizes online and in-person focus groups and studies that pay between $50 and $300, if you qualify. The company is interested in respondents’ opinions on different products and services. The research takes place in an online chatroom environment, mimicking the experience of an in-person focus group. You will be paid via PayPal, or receive Tango gift cards.
UserInterviews
UserInterviews organizes in-person and online research groups focused on the user’s experience with certain products, services or websites. The average pay for completing a survey is $50, but some companies will also pay $200.
You will have to sign up using your Facebook or LinkedIn profile. The platform will notify you about projects that match your social profile, and you will have to complete a short survey to determine if you are the right fit for the focus group.
All in all, focus groups seem like a good opportunity to earn some quick cash, but don’t rely on them for long-term income. From our own research, it seems that most people don’t get selected very often for multiple projects. However, the good news is that once you are registered with multiple agencies, you will be get more and more invitations, which increases your chances to earn some extra money.
What is your experience with focus groups? Are they a good source for some extra cash? Share with us in the comments below!
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