Miss T told me that she thinks everyone is looking for ways to maximize their earnings and stretch their dollar and an article on how to make extra money would be timely. I don’t disagree with her, and in this article I’d like to share one specific way one can make some of that extra dough online with their spare time.
One specific niche site I own discusses the topic of paid surveys online. I started this website after having experienced success with paid surveys myself (I talk about my specific exposure and experience with the world of paid surveys on my niche site).
Paid surveys are essentially get paid to type offers wherein you, the survey taker (also called panelist by many companies) takes a survey online and in returns is rewarded financially or through gifts and prizes.
In case you are wondering, these opportunities are 100% legitimate as most often these are top performing marketing and advertising companies who are hired by fortune 500 companies to conduct market research. Since fortune 500 companies cannot solicit you directly, they engage marketing companies to gather your feedback that will help share their new products and services in the future. This is how your opinions / responses to the surveys are used.
So is there truly money to be made?
Of course there is. I have posted several images of checks sent to me by paid survey companies on my niche site as well as on my blog. These are just a handful of examples to demonstrate that money can be made by completing paid online surveys.
The key is to sign up with as many legitimate companies as possible. The magic word here is legitimate. Because high flying dreams are easy to hype up and sell, there are many pseudo paid survey companies online that don’t do much good for you. Stick with the legitimate ones to avoid a bad taste in your mouth.
How much time does it take to do a survey and what are the returns?
This can range from a minute to 20 minutes and sometimes even more. Pay can range anywhere from 10 cents to $150 per survey. It all really depends. The longer you stick with it, the better the offers get as paid companies start to get to know you better and trust you. Therefore, better offers are also sent your way.
Although one can easily amass $500 extra each month for paid surveys and similar get paid to activities (such as product offers), earning this amount is not passive by any means and it involves consistent effort month after month. It is essentially a part time job, and many would argue that one can make more flipping burgers at Wendy’s.
Maybe or maybe not? Paid surveys provide the flexibility to work when you want, from wherever you want, with as little or as many hours you want. Some do paid surveys to make ends meet, while others complete paid surveys to make some extra cash on the side by trading in their spare time.
The “real” money in paid surveys comes if you are able to refer other survey panelists to the survey companies. If you have a popular blog readership or an email newsletter, promoting paid survey companies to your list can be very lucrative as paid survey companies compensate you each time you send them leads (no this is not multi level marketing and everyone keeps their own share of the payment pie that comes directly from the company, not from each others’ earnings).
It is with some solid content and through proper search engine optimization and internet marketing that I was able to rank my paid survey niche website, which currently ranks on page one of Google for several highly competitive keywords that relate to “make money online”.
If you are able to do this, then the sky is the limit in terms of how much you can earn from paid survey companies without incremental effort on your part and thus turning it into a passive income stream. This is exactly what I have done, with some companies sending me monthly checks that easily surpass $1,000.
With that said, I don’t want to leave you with false promises and high flying dreams that are unrealistic. Like anything else worthwhile and profitable, establishing successful niche sites take work. However, if profiting from paid surveys is something that you are interested in, understand that it is completely doable.
Guest Post Author Bio: Sunil owns over two dozen profitable niche websites, over 20 successfully selling eBooks, and is the author of “How to Go from $0 to $1,000 a month in Passive and Residual Income in Under 180 Days All in Your Spare Time”, a FREE report you can download instantly from his blog, where he discusses expedited wealth building through internet marketing, personal finance and entrepreneurship. In 2007, he sold his ecommerce website for $250,000 to a top Ebay Power Seller and since then has sold several niche sites for five figures each. You can read more about him and his work on his blog.