In the digital age, our personal information is worth a lot of money
… So it’s understandable that you might be wary about giving it out to market research companies like ours. If you choose to take part in market research, you will usually have to tell us some personal details, but we can guarantee that they will be safe in our hands.
However, it’s a good idea to be wise to the ways of fraudsters so that you can make informed decisions about who you give your details to.
If you’re concerned that a market research company isn’t on the level, there are some simple checks you can do that will help you to decide whether to hand over your information.
5 essential questions you should ask about market research companies:
1. Are they a member of an official governing body?
Most industries have a number of governing bodies who advise on things like best practice and help keep an eye on the industry, and paid market research is no different.
Angelfish Opinions is proud to be a member of the Market Research Society, which is the world’s leading research association. Never be afraid to ask if a company is affiliated with a governing body before you decide whether to take part in market research with them – and be wary if they aren’t.
2. Do their sign-up forms seem legitimate?
Real market research companies want to match you with a project that suits you, so they will ask lots of questions about your life and interests. If a sign-up form asks you for little more than your name and email address, you might want to investigate them a bit further before you sign up.
3. Does the reward seem too good to be true?
One of the reasons people take part in market research is that they receive an incentive, an appropriate award for giving up your time and sharing your opinions.
Depending on the length of time you’ll be participating in the research project, you can expect incentives to be anywhere between £40 and £150, though you’ll be told how much exactly and in what medium (I.e. Cash, voucher etc) before you agree to take part.
Paid market research studies are not intended to be money-making schemes, so if the reward for the project you’re interested in seems far too big, you should think twice before taking part.
In the same vein, you should also be wary if the company requests that you buy something in order to take part in market research. The company you are with should provide you with any products or equipment that you need, or reimburse you for any products purchased.
4. Does the company offer plenty of information about itself?
It only takes a few minutes on Google to find out if a market research company is real or not. A real company will have extensive information about the work they do, as well as legitimate contact details and a testimonial section.
We have another great blog here which goes into more helpful detail about how to tell whether a market research company is legit or fake.
5. But can a real market research company keep my details safe?
Any market research company worth its salt will. They will also uphold the data protection act, which controls how your personal information is used. Again, if you aren’t sure that a company is complying with the data protection act, you should ask them for more details before you decide whether to take part in market research with them.
Another good tip is to ask about the company’s privacy policy, as this will provide in-depth details on what they will do with your information (you can read ours here).
At Angelfish, we’ll always ask you first!
There are cases when we will ask you if you are happy for us to pass on some details; for example, if one of our clients would like to speak to you directly, but we will always ask you beforehand to make sure you are willing.
Happy participants make for good paid market research, which is why we would never do anything without your permission.
Would you like to take part in market research?
If so, then look no further than Angelfish! We’ve been helping a range of exciting brands (From Sky to IKEA, BBC to Matalan) connect with their customers since 2015 through amazing paid market research opportunities, including online communities, focus groups and accompanies shops.
We currently have a large number of projects on the go, and we would love for you to join us! Simply sign up to our participant panel via the button link below or have a browse of our projects here.
If you have any questions (including any of the ones listed above), we’d be very happy to answer them for you – just get in touch!
