In the business world, an untested idea is a bad idea. Before spending millions of dollars designing, manufacturing and marketing a product, companies first have to figure out whether anyone even wants to buy it. That process is called market research.
Market research is big business. American companies spend billions of dollars each year on focus groups, product testing, interviews and surveys -- all in an effort to determine which logo is the catchiest, which flavor of potato chip is the most addictive and which pop song will be the next big hit [source: The Huffington Post].
To save time and money, many companies are turning to online market research. Surveys, in particular, can easily be conducted online or over e-mail. The cost of a 200-person, e-mail survey is $2,500 to $5,000. To get the same number of responses from a snail mail survey would cost between $5,000 and $7,000, and phone surveys can run as high as $15,000 [source; Yahoo! Small Business].
As an incentive for consumers to fill out online surveys, companies offer them rewards. At Web sites like e-Rewards and MySurvey, consumers either earn money or points for each survey they fill out and submit. Those points can be redeemed for rewards such as discounts on products, free airline miles or gasoline gift cards.
Online surveys with rewards are a potential win-win situation for companies and consumers. The company gets valuable market research from a targeted survey audience, and the consumer is paid for his time
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