June 19, 2009

Money Smarts: Online Focus Groups

I spent some time cleaning out all the feeds in my Google Reader last night and was happy to see that iMommies (thanks, Jennifer) had posted several new online studies/focus groups that offer great potential payouts.

Online focus groups are similar to online surveys but look for more specific, detailed information from their participants. For this reason, the pre-screening process is more rigorous but it's definitely worth it. Many of these companies pay $50 or $60 honorariums at the lower end of the scale as a means of saying thank you for your time.

It's important to note that these research companies typically limit the number of studies you may do in the course of one year to just a handful or fewer. This is definitely not a big get-rich-quick type of scheme but it is another way to make legitimate money online.

Here are a few of the companies I noticed iMommies recently highlighted as having new online studies in the future:

20/20 Research Incorporated

Plaza Research

Focus Forward

I'm always looking for ways I can increase my income from home, so I plan on registering with all of these companies as a panelist; then I'll just have to wait for my demographic information to match up with one of their surveys.

I'll be sure to keep you updated.

Have you participated in a paid online focus group? Do you have a online research company you'd like to recommend (or not!) from your own personal experiences as a focus group participant? Share what you know in a comment below!

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