The Truth About Making Money Taking Online Surveys
We are living in a time where a lot of people are turning to internet based surveys to earn an extra income online.
Now the question is, can you really make money with these big survey companies such as mysurvey.com, surveyjunkie, swagbucks, and surveymoneymachine etc?
Online Surveys Compensation Explained
Now let’s take one of the most popular survey companies like “My Survey” (mysurvey.com). If you’re the type of person that likes to shop, you love testing and trying new products, then a company like MySurvey will “reward you” for taking a survey and sharing your opinion about various products you purchased.
Now the key thing when it comes to online survey companies are rewards. You are not always paid cash, you are often given gift cards, points or discounts on products for sharing your opinion. Same goes for surveyjunkie, surveymoneymachine and swagbucks.
Can you earn a real income with “Online Surveys” or is it just a hobby?
To be quite honest, survey income opportunities are primarily for just a hobby. It’s very difficult to earn a significant daily income with any kind of paid survey opportunity without putting in tons on hours each day.
If a person likes spending 15-20 hours of their life for each $50 they earn, then it’s obviously not the best use of their time if their primary objective is to make money.
Now here is why survey companies hook so many people in…. For one, it’s free to join. And on the bright side for example…. (and the only bright side I see) if you already purchased or let’s say you were already planning on purchasing a $900 MacBook pro, then it would be extremely motivating to go ahead and purchase it knowing that you have a survey company that will give you a $75 giftcard to the apple store for sharing your opinion of it.
But the psychology behind surveys and survey companies like mysurvey.com is they actually motivate people to purchase products that they may not “really” would have purchased without the incentive to do so.
Now here’s what I mean… Let’s say you been thinking of buying a new smart TV but not exactly made up your mind to buy it yet. But then you get an email from MySurvey (or whatever the survey company is) that they will pay you $100 cash for your opinion on a specific smart TV.
Since you already had the idea of possibly purchasing a smart TV, but now knowing you can receive compensation after purchasing will actually motivate you even more to actually make the purchase.
And this is how the survey company them self make money, by getting their members to purchase various products.
There’s absolutely nothing wrong with that, but do you now see the psychology behind why survey companies are so popular?
Which explains why it’s more a hobby rather than a genuine money making opportunity.
Should you join a Paid Survey Company?
If you like the idea of how most paid online surveys work, then why not. Even I have taken surveys in the past and made a little money. And it’s great knowing that when you buy stuff, it’s possible they may have a survey available that may compensate you for it.
But if you are truly and strictly looking to Make Money… Such as earning a “real” residual income online that could possibly replace your job and perhaps RETIRE YOU…. then paid surveys is NOT where it’s at.
Consider how I have personally built a 6 Figure Income online, without spending long hours at my computer each day, without making calls, and without having to involve family and friends…
In fact, I was able to QUIT my full time day job and make more money working online part time than any job has ever paid me…