The following is an excerpt from my book Margin Matters: How to Live on a Simple Budget & Crush Debt Forever.
When my wife and I were working to pay off our debt we were constantly searching for creative ways (side hustles) to earn extra money that didn’t consume a lot of time. We were intrigued by the discovery of marketing research firms and how many of them pay cash to individuals who participate in studies. For example, in the Atlanta market where we live, there are dozens of these types of agencies that hire random people to take part in research projects.
How Much Can You Make?
The most popular studies (also called focus groups) seem to be taste tests for various restaurants. These studies usually pay good money—ranging anywhere from $50 to $300 (and you get free food!). There are also a lot of television viewing habits studies along with many product usage tests. For most of the product usage studies, you typically receive the product for free to try out and keep, provide your feedback, and get paid. We did one that gave us three different new Hoover vacuums (worth over $500 total) to test and provide feedback. We were allowed to keep all the vacuums and got paid for our product reviews. Companies do products tests like this all the time, so these types of opportunities are limitless.
Another common type of study is the mock jury. Law firms that are preparing for a large or controversial case will hire individuals to comprise a mock jury to get a pulse on how people are feeling about certain issues surrounding the case. Not only are these interesting and educational, they also pay you. I recently served on a mock jury that paid me $150 for 2.5 hours of my time. Previously, I served as a mock juror over a two-day period and received $350.
Types of Studies
Generally, there are two types of studies—in-person and online. Obviously, online studies are more convenient but from my experience I’d suggest pursuing opportunities to participate in both platforms. In Atlanta where I live, there are dozens of marketing agencies that specialize in conducting a wide array of focus groups depending on the client that hires them.
How You Can Get Paid for Marketing Research
- Refer to the list of firms I’ve provided below. These are legitimate firms that I’ve had repeated success with.
- Go to each website, see if they have a location in your area, create an account, and enter your information into their database.
- You will start getting phone calls and emails from recruiters on a regular basis to participate in screeners to determine your eligibility for a study.
- Don’t get discouraged if you are not picked. It’s a numbers game, and they are looking for certain demographics. By submitting your data into more databases, the better chances you have of being selected.
- If you have no luck with my list, simply put the title of this blog in your search engine and you will find numerous articles like this one.
- Also, I have yet to mention the large number of apps available to participate in studies.
Marketing Research Firms I’ve Used
- Jackson Associates
- Superior Research
- PVR Research
- Compass Marketing Research
- Fieldwork
- Talking Heads Studio
- Thursday Recruiting
- Murray Hill National
- Focus Pointe Global
How it Works
In this specific example I will share how the process unfolded with my previous experience with Compass Marketing — located in Norcross, Ga. First, I went to their website (see link in list above) and signed up to join their research panel. Compass seems to specialize in taste test studies.
After creating a profile on their site I started getting emails alerting me of upcoming taste tests. The email asked you to call a recruiter if you are interested. This is simply a phone screening where the recruiter may ask demographic questions along with specific food eating habits to ensure you qualify for the study. Based on your answers the recruiter will either invite you to a study or tell you “we have enough participants with similar answers to yours already in our group.”
If you get selected the recruiter may offer several different days/times when a study is available. If you confirm a time slot then you are booked and will then receive a confirmation email with directions, etc. In this particular study I did with Compass I had the opportunity to taste test some potential new menu items for a fast-food restaurant. They took about 20 of us into a large room with cubical-type dividers and we each got to sample three different menu items. Then we were asked to answer several questions on a laptop after sampling each item. The entire study lasted about 30 minutes and we were each handed a check for $50 on our way out. Easy money and free food! Can’t beat that.
Final Thoughts
We’ve enjoyed tremendous success participating in marketing studies and focus groups over the years. In fact, during a three-year period my wife and I earned nearly $8,000 solely from doing these studies. It was a huge help in paying down our debt and advancing our journey toward financial freedom. Most of the studies were quick and easy and paid good money. However, be aware that not all studies pay in cash, many also pay in gift cards. The Visa or Amazon gift card have become popular forms of payment for focus groups. Also, some taste tastes for specific restaurants might pay you with a gift card from that establishment.
Additionally, be wary of potential scams in this industry—especially in the online format. Many firms will make false promises regarding how much you will make with a small, time commitment when the opposite ends up being true. Do your research on these companies to make sure they are legit.