paid market research myths 1

5 common myths about paid market research – busted!

Market research is a vital tool for companies to gain a wider understanding of their consumers and users, helping them review behaviours, analyse market trends and make their services or products more appealing to their target audience.

It’s never been easier to take part in market research, and whilst it has become more accessible to take part in, it has also opened the door to various misconceptions and myths. In this blog, we aim to debunk some common myths around market research, so that whether you’re a market research newbie or you’ve been able to participate before, you’ll feel perfectly equipped to navigate the landscape of paid market research with confidence.

5 myths about paid market research

Myth 1: Market research is a scam

Sadly, we live in a world where scams do happen, making many of us sceptical of things that feel “too good to be true”. However, market research is a legitimate way to share your opinions and get rewarded in the process.

When applying for surveys or market research online, we always recommend being cautious and doing some research first. Here are some ways you can make sure a market research company is legitimate:

  • Check the reviews: Checking online reviews is a great way to get a sense of what a market research company is like and if taking part will be a positive experience. There are many different review websites, and a reputable market research company should receive consistent 4 or 5-star reviews. Another green flag to look out for is if the company respond to feedback, whether positive or constructive, and offers a follow-up call or discussion.
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  • Scan on social media: Does the company have a social media presence? Are they present across different social media websites and do they have an audience that interact with their page? This is the sign of a reputable market research company.
  • Meet the team: Who are the people behind the market research? It’s always good to see the human side of a company and a reputable market research company will often have a meet the team page to see who you’ll be interacting with when you apply for and take part in research.
  • Check the Market Research Society: The Market Research Society (MRS) is the UK professional body for research, insight and analytics. They have a code of conduct that all reputable UK market research companies will follow, and you can review all the accredited market research companies they work alongside here.
  • Review their privacy/personal information policy: A reputable market research company will always have a privacy policy available on their website, including information such as how your data is handled. To see Angelfish’s privacy policy, click here.
  • Payment Information: Genuine market research companies never ask you for any upfront payment information. If receiving a bank transfer as an incentive for your market research, make sure you only give the relevant information; you should never be asked for an expiry date or CVV number if another company is making a payment to you.

Myth 2: It’s rare that you’re actually able to take part

A common misconception is that market research opportunities are scarce to find and, that due to the popularity of paid market research, only a few individuals actually manage to take part. This isn’t true – with the rise of remote market research sessions and online communities, market research is being increasingly more accessible and easy to take part in.

At Angelfish Opinions, 20% of those who take part in our market research have only signed up to our community within the two months prior to their session and clients are often keen to speak with new participants who have never taken part in a session before.

We recommend going through your online application with a keen eye to make sure you don’t screen out from any accidental errors. If you’re unsure of why you can’t take part, it’s always worth getting in touch with the market research company to see if any mistakes were made when filling out the form – it may be an easy fix!

Myth 3: It takes too much time

Another myth that can put people off taking part in market research is the idea that the process is too time-consuming and may be difficult to manage with a busy schedule.

This myth fails to recognise the multitude of different research opportunities available and the varying time commitments for each. Online communities often require daily task completion, but this could be as little as 15-minutes a day where you can fit in the time, and many sessions are in the evening. Additionally, tech and remote sessions have made it easier than ever to participate in market research from the comfort of your own bedroom – maybe even in your lunch break!

Here at Angelfish Opinions, we’re always crystal clear about expectations and will outline the duration of our market research opportunities on the screener application. We ensure participants are renumerated fairly and that the incentive payment reflects the amount of time a participant has committed to the research.

Myth 4: Not everyone can take part

Historically, market research was often limited to the big cities, which meant a lot of people were unable to part in sessions unless they were able to travel. However, with the rise of tech and the popularity of remote research sessions, this has changed, and market research has never been so easy to take part in.

Many clients are now interested in targeting consumers in remote areas of the UK, as well as those with accessibility needs who may not have been able to take part in market research previously.

Whether you’re a 25-year-old businessman in London or a 75-year-old retiree from rural Wales – companies want to hear from you. Plus, the best part of our job is being able to interact with such a diverse range of people!

Myth 5: Once you take part, you can never take part again

Another common misconception is the belief that if you’ve taken part in market research previously, you are disqualified from doing so again. In reality, market research companies value the opinions of diverse participants and won’t prevent you from taking part again.

A lot of companies will indeed ask for a 6-month market research exclusion before a participant can take part again, but with such a vast range of different topic areas, you can likely complete research again on something entirely different. However, taking part in market research isn’t likely to make a career opportunity; it’s more an extra bit of pocket money you can treat yourself with.

Start taking part in paid market research studies with Angelfish Opinions

There you have it, five of the top market research myths debunked! We hope you feel more empowered and confident in any future market research opportunities you take part In. Your voice matters, and brands and companies wouldn’t be able to change without people like you sharing your valuable opinions.

Want to start making a difference? Take part in market research and find out about all our latest research opportunities by joining our community today.

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