Thursday, January 9, 2014

Market Research Studies

This has got to be one of my favorite ways to make some extra cash.  Not only do they pay well, they can be fun and boost your verbal communication skills at the same time.

Here's the deal:  Companies like Olive Garden, Creammette, American Eagle, etc. use market research firms like Fieldwork Minneapolis to conduct market research with real consumers.  The consumers are asked a series of questions and get paid very well for their candor in answering the questions.

I've done a few of these and they all differ.  For two of them, I had to watch several commercials for a product and determine which one spoke to me the most and why.  I have also done a taste test of fries at a restaurant.  The most recent study I did was on hair accessories.  The company interested in my answers brought their entire line of hair accessories into the room and we got to go "shopping" and explain why we chose the products that we did.  My husband has also done several studies (brandy taste test, hard cider taste test...) and thoroughly enjoys them.  They are facilitated by the market research firm who then reports back to the company.  They pay decently well so it's a good way to pad the slush fund.  Studies seem to pay at least $60 for an hour or two. That is the low end, studies often pay more.  I actually like to do these as a personal growth opportunity as well.  It makes me think on my feet, explain myself, be articulate, be creative, and use my critical thinking skills.  I always leave feeling uplifted.

Here are the firms that I'm aware of in the Metro:  Fieldwork Minneapolis, Orman Guidance, Delve, and Ascendency Research.  They are all on facebook and you can either request to be in their database so they call you, or you can answer the survey questions on their facebook page to see if you qualify for a particular study.  I know for sure that Fieldwork advertises all of their studies on facebook.

Just because I know this, I will share it with you, right or not:  They overbook some of these studies.  If you show up at 5:57 pm for a study starting at 6 pm, it's possible that enough people have checked in already and they don't need you.  But you still get paid.  And you get to turn right around and go home. 

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