Money March: Monetizing your knowledge and skills with panels and focus groups
Hey,
I don’t know if I made the announcement here on Substack but, I wanted to publish a newsletter a day in March, in a series called Money March, where I showcase a new side hustle or business idea.
I’m already behind 😭 lol
I will catch up though, ha.
Today I want to talk about panels and focus groups.
What’s a panel?
It’s a paid survey, essentially. You get paid to share your honest opinion. You can do it remotely (this is how I do it), and there are many formats:
Diary study
Individual panel
Group panel
Virtual interview (like a Zoom meeting)
Phone interview
They pay between $20 to $500 each.
Example:
I’ve done 3: one paid $100, one paid $125, one paid $400.
The $400 one took 90 minutes and it was a Zoom video. I gave my opinion on my experience with online banking and shared feedback on a new banking interface, over a Zoom interview.
I do these occassionally.
You won’t be able to do them every month. Once you’re picked for one and participate, it might be a while before you secure another one. That’s my personal opinion.
But, you can also refer them to your audience as an affiliate, as another way to earn from them.
I made $4,300+ in one month from panel referrals
I did this on Reddit last year and I teach the strategy in Redditpreneur.
I just posted another similar post 5 days ago and it’s paid me almost $200 so far.
If you want to take the panels and focus groups yourself, companies like Respondent and User Interviews are who I have personally used.
Have you tried this before?
Best,
Jenn