Survey Sites

The Idea

If you read any article about ways to make money on the internet, you will undoubtedly hear about online survey sites. These are sites that reward you to participate in short online surveys on a range of topics. This reward usually comes in the form of points-per-survey, which you can exchange for cash or gift vouchers when you reach a certain predefined threshold (usually around £20, but can be as low as £5). I thought it was worth a go, so singed up with a few of these to see if they are worth the effort. The ones I signed up for are Daily Survey PanelSwag Bucks, Ipsos, Pinecone and MySurvey (where you can get £1.70 from TopCashBack just for signing up). Some have been better than others, Daily Survey Panel has a bit of a messy interface but is actually pretty decent in terms of content. Swag Bucks is very flashy, and has many more ways to earn points than just surveys, like web search, playing games, watching videos and so on. Both Ipsos and Pinecone have a delay period where they process your application, so as yet I haven’t been able to test them, but they are supposed to be up there with the best. MySurvey was just a little hopeless, there were never any surveys available, and then for some as yet unexplained reason my account has been suspended. I did receive £1.70 cashback simply for signing up though, so I can’t complain too much.

Update: I have now been able to try Ipsos and Pinecone and they’re both pretty good. They send surveys straight to your email when they have one that is suitable, so you don’t need to be checking their website all the time. The surveys are simple and well structured and reward rates are amongst the most generous you’ll find.

Investment Required

No upfront money, but a considerable amount of time. Each survey usually only takes about 5-10 minutes, but often you don’t always qualify for what they are specifically looking for, so end up having to start again with another survey, which can take a bit of time.

Capital: £0

Time(hrs): 1-2/week (although it can really be as much or as little as you want, can be done just in a lunch break)

Return On Investment

Being that there is no upfront capital, this is another of those magic little infinite return opportunities. However, it is pretty difficult to be making significant amounts of money on these. I have been a member of Daily Survey Panel and Swag Bucks for about five days now, and have amassed the equivalent of about $4 on each. However, a portion of this is the sign-up bonus each gives (of about $1). On this basis, I reckon with a bit of time investment it is possible to make about £10-£15 a month.

Projected ROI:  ∞

Expected Return: £12 per month (£140 for the year)

Skills/Resources Required

Not too difficult, just takes a little bit of effort to fill out initial forms so they know what type of surveys to offer. After that it’s just a case of answering simple questions.

Risk

Not really any risk involved, apart from the fact you may spend time on them and never actually get to the payment threshold (usually $20, although with Swag Bucks you can cash out from as little as $5). The other factor to consider is whether it’s worth the time. If your sitting in front of the TV, then filling out the odd survey while you do is not a bad little earner. However, if your spending hours a week filling out surveys at a desk to earn $20 a month, you’ve got to wonder.

Scalability

You can sign up for more sites, and therefore increase the amount of opportunities to earn. At the end of the day though it’s still just spending time filling out a survey. I can’t think of any way it could be scaled up to be more profitable or automated.

Viability

After a trial run with it, I have come to the conclusion that it is a decent way to earn the odd amazon voucher for a little treat, but for the time necessary it isn’t worth pursuing heavily as part of the project. I think there are more productive things I could be doing instead. However, I will probably keep them in mind, and when I have a spare 10 minutes here or there I will complete a survey, but I don’t expect to earn much more than £30 for the year. As such I won’t be formally pursuing it as a project.

The Verdict

ThumbsDown

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