On Fridays we typically highlight a Mystery Shopping company that we have had experience working with. This week I am going to tell you briefly about Market Research since it is just as neat as Mystery Shopping!
Market Research is the collection of data from a widespread population (group of people). This data helps companies understand their potential influences in the marketplace. That may sound confusing, but it is not. Companies want your opinion and pay you for it!
Every Market Research opportunity has different criteria. It is imperative that each study is conducted across a diverse group of people. You may be wondering what Market Research looks like?
I am signed up with several Market Research companies and receive surveys from those companies when they have a specific opportunity available. I complete a survey and my information is stored in their database. After going through all the applicants the company contacts people who fit in to their criteria.
When I meet the criteria a representative from the company calls me. They tell me a brief description of the study (i.e. “A taste test” ) and they sometimes tell me how much the study pays in the beginning. Then the person goes through a series of questions to ensure that I qualify for the study. I can either be accepted in to the study or not qualify. Upon acceptance in to the study the person tells me the specifics about pay and the date/time of the study. Sometimes I am emailed “homework” to complete before my study.
The day arrives for the study and I head to my location. Once I met in a hotel (honestly, that was a bit weird as a transgender conference was happening there at the same time), once I met at an established Market Research Building, and the third study I did was in an online forum.
You are lead in to your room and a discussion, taste test, mock jury trial, or product test is conducted. In my experience there are other people in the room and you are all encouraged to participate in the conversation.
My first Market Research study was focused on moms using photo type services on the internet. We had a round table discussion, viewed product samples, and gave our opinions while being audio recorded. I was paid $75 for my time. My second study was a comparison of two local grocery stores and involved a cake taste test. There was a brief homework assignment which paid extra. While at this established firm we were in a room where there was two way glass. We knew that people were observing us. I received $125’ish for that study. My online forum was geared towards moms and household cleaners. I logged in to a special web forum twice a day for two days and typed my response to the moderators questions. I received a $75 amazon gift card for my participation.
The companies that I have performed studies with are Schlessinger Associates, BSM Media, 20/20 Research. Jessica has done market research for AOC Marketing Research. I am registered with a company that has children come in and play with new toys and have received one phone call for them. Unfortunately I was not able to attend that day. They would have given my daughter a toy and me $20! Most companies are based in larger cities. I am not an expert in Market Research. I would love to learn more though. If you are interested in market research in your area I suggest you search online to see what opportunities there are near you.
Don’t be intimidated that you need to live in a metropolitan area to do market research! There are plenty of opportunities that can be conducted while in your pajamas.
If you are a parent there are diapers studies that you can do in your home. I did a few with Arquest and really enjoyed it. I have participated in two shoe test studies, which are essentially market research. As part of the Johnson & Johnson Friends and Neighbors program I received a product to review and $20 for my participation. I received a household product to review from MySurvey and was rewarded with points to get a great gift card.
Market research is essentially being paid for your opinion. I am sure you have an opinion. Go make your voice heard!