paid market research

How does Paid Market Research Work?

How does paid market research work? Well, essentially, you let big brands know what you think about their products and get rewarded for doing so. Simple as that. It gives you the chance to have your say, share your opinions and get paid for it too! Taking part in paid market research basically means you can make a real difference to the way your favourite products are launched, branded, packaged, marketed and priced – and it’s also great fun and a fantastic way to meet like-minded people too.

Sounds good, right? What’s even better is that absolutely anyone can get involved with paid market research as long as you are over the age of 16. You don’t need to be qualified or anything – you just need to want to share your opinions and influence the development of new products and services. Really, that’s it! The way companies use the research will vary for each study but it will usually be used to influence an organisation’s branding, market positioning and ethos. Don’t worry though, we always try and give our participants as much information as possible upfront to make sure they clearly understand the objectives of the research.

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So let’s look at how paid market research works in more depth. To get started, you need to sign up to our panel. We’ll then ask you some brief questions about you as well as your key contact information, and then with a click of a button your sign up is complete – it really is that simple! You’ll then be part of our panel of like-minded people who all want to voice their opinions about the products and services they love – and as soon as there’s an opportunity that is right for you, we’ll be in touch. In fact, depending on the information that you’ve given us, you could be contacted as soon as the next day!

If you’ve been selected to take part in a study then a member of our team will contact you over the phone or drop you an email to discuss the opportunity further. Please bear in mind though that in order to ensure we’re speaking to the right people, each project has specific requirements – so it might be that you aren’t eligible for certain projects that you apply for. But don’t worry, we’ll have more invitations on their way to you soon. And if the project isn’t right for you but you think you know someone who might be perfect for it, you can get paid for referring participants as part of our refer a friend scheme. 

There are a few different ways that brands use paid market research to try and understand how their customers think:

Focus groups

Focus groups are a type of research that involves a group of people coming together to take part in a discussion that’s monitored by a moderator. The discussion can be related to anything from a product, service or potential concept, and you will be asked questions and encouraged to discuss your opinions.

Market research online communities

A market research online community is when a group of people come together in a private and secure online platform to take part in discussions surrounding different products or services, or complete a variety of tasks and activities such as video diaries, blogs, or photo libraries.

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In-home interviews

In-home interviews do exactly what they say on the tin! A researcher will come to you to get to know you and your views in the comfort of your own home – it’s a great way for brands to understand your opinions in your everyday environment.

Accompanied shopping

This is a way for brands to find out why people shop the way they do. It involves a researcher joining you on a shopping trip so they can witness your shopping habits first hand and observe what you do, why you do it and the purchasing decisions you make but without interfering.

Once the research has taken place you’ll receive an incentive as a little thank you for taking part. Incentives vary for each study and can come in the form of cash, cheque, bank transfer or vouchers – and depending on the type of incentive you receive you could receive it on the day or up to three weeks later.

So there you have it. See – we told you it was simple! If you’d like to find out more about how paid market research works with Angelfish or have any other questions, please feel free contact us.

Ready to start making waves with your opinions? Sign up today.