Earn > Market Research

Market Research UK

What is Market Research?

Market Research is a great way of making some extra money by providing your opinions on various topics to companies who are gathering data. This is a key way of understanding the markets that you sit in and is akin to the types of study groups you may have seen on TV in shows such as The Apprentice.

How does Market Research work?

Market research usually comes in two forms; in-person or virtual, where you either go to a central location to take part in studies (these usually pay more) or where you attend virtual studies via video call (these are the types I have done so far).

You usually get asked a number of questions based on your background and history, and then questions to see what you think of certain topics or ideas. There is usually no wrong answer as it is purely your viewpoint and opinion that they are interested in.

How to get picked for Market Research

There are loads of market research sites available to use, and in order to make decent money from them it is worth being signed up to each one. Here are my favourites:

You won’t get accepted for every study that you apply for, and in fact you are most likely to get decline for the majority of studies, so it’s purely a numbers game of applying for as many studies as possible!

Personally, I have noticed that I tend to get accepted more for the low-paying studies as there is less competition for these than those that pay large amounts. This also allows you to get some good experience under your belt and gets you more comfortable with the processes.

Does Market Research pay well?

Once you have been accepted onto the studies, absolutely! My best ever result was £70 for a 45 minute study with the National Trust via TakePartInResearch, but you can typically expect to make at least £20+ per hour and often a lot more.

The only thing you do need to consider is that you will need to spend a lot of time applying for studies before you get accepted so you will need to “invest” a little time into this side hustle here!

Should I do Market Research?

Personally, I think that everyone should have a go at market research at least once. It’s a brilliant way to make some extra cash from the comfort of your home, and really you’re just getting paid to have a chat with some really nice people.

It’s not going to make you a millionaire but if you spent some time every week looking at it, I definitely think you could make enough to pay for a holiday! I would recommend signing up to some of the above sites and seeing how you get on.