Survey Junkie – Case Study

survey junkie, guy taking a survey on his ipad

What is Survey Junkie

Survey Junkie is an online platform where individuals sign up to take marketing surveys in return for points. As users collect points, they can redeem them for cash and or gift cards. The platform has profile surveys that are run by Survey Junkie and also aggregates surveys for users to take.

Consumer businesses will usually hire marketing research firms to conduct surveys with end customers. The objective is to uncover insights, impressions, and opinions that consumers have about the business and its products. Companies will use the data to help with decision-making on their products and businesses.

For consumers and businesses alike, platforms like Survey Junkie are great for creating a market to surface what consumers want to businesses who are looking to meet those needs. By taking surveys, consumers are communicating what is important and relevant to them. When this insight is given to businesses, they can create better, more relevant products for consumers. Ultimately, this leaves both parties with more value.

Sites like Survey Junkie are great ways to spend downtime in a productive fashion. By no means will taking online surveys to lead one to riches, thus one should steer clear of survey sites with flashy promotions such as “paid out millions” as they are likely scams.

 

Key Takeaways

  • Users from the US, Canada, and Australia sign up for Survey Junkie with their email and earn points for completing surveys.
  • Points are valued at 100 points for $1 USD. The minimum redemption threshold is 1000 points ($10 USD).
  • In the United States, the Market Research industry is a $22 billion industry
  • Survey sites that are legitimate and have proven to pay out include Swagbucks, InboxDollar, OneOpinion, and Opinion Outpost

 

Survey Junkie Business Model

Survey Junkie is the customer-facing subsidiary of the parent company DISQO. Based in Los Angeles, California, DISQO is a customer-insight platform company that provides researchers, marketers and strategists with data that paints the complete view of the consumer. Survey Junkie and its parent company, DISQO, generate revenues by selling marketing research services to businesses.

 

How Survey Junkie works

Users from the US, Canada, and Australia sign up for Survey Junkie with their email. They earn points for completing surveys, which vary in length and payout. Points can also through other activities such as participating in focus groups or filling out your profile. E.g. signing up gets you 25 points while completing your profile gets you an extra 50 points.

Filling out your profile surveys will allow for Survey Junkie’s platform to provide surveys that are the most relevant to you. Some surveys will have pre-screen questions to qualify the respondent. This is done to ensure that their sample has a wide range of respondents. If you do not qualify for a survey, points are still awarded but usually for a lower amount, ensuring that users are compensated for their time even if they do not qualify.

Surveys will indicate how many points are awarded as well as the average time it takes to complete. The platform will also email you with surveys that are suitable based on your profile.

Points are valued at 100 points for $1 USD. The minimum redemption threshold is 1000 points ($10 USD). Minimum redemptions may also differ depending on if you are cashing out as gift cards, as some gift cards have minimum denominations (e.g. $10, $15). To cash out in cash, the user must cash out all their points in the same transaction. Cash is deposited to attached PayPal accounts.

 

Survey Junkie reviews

An overwhelming amount of online reviews of Survey Junkie are positive and vouch for its legitimacy. Money management sites such as Money Check and Nerd Wallet, have done full reviews including screenshots so that readers can see the site in action.

Other review sites, such as Trust Pilot and the Better Business Bureau (BBB) that have also collected reviews and information which support the legitimacy of Survey Junkie. They have an Excellent 4.5/5 start rating on Trust Pilot and are also an accredited ‘B’ business with the BBB.

 

The Market Research Industry

In the United States, the Market Research industry is a $22 billion industry with products that cover everything from online traffic and audience measurement to public opinion research and polling services.[1] Growth over the past five years has been driven primarily by an increase in corporate profits, which has increased the dollars spent on advertising and the market research to support it. This has also driven some M&A activity in the industry, with advertising agencies acquiring market research firms so that they can provide value add services to their clients.

Over the next five years, the industry is forecasted to continue growing at 2.0% annually to $24.3 billion.[2] Corporate profits and lower interest rates will propel growth, as an investment into research and development and advertising expenditures will come with the need for market research services. Additionally, a highly fragmented consumer market will drive companies to invest into understanding how to sell to consumers in new channels (e.g. social media).

Companies like Survey Junkie are a very specific subset of the larger Market Research industry. They funnel data to larger research companies and marketing agencies for analysis. The overall industry is low in concentration, with smaller specialized companies making up over 70% of the market share. Given the growth in the industry and low concentration, it is expected that new competitors will enter the market.

 

Survey Site competitors

There are lots of market survey sites that offer incentives for people to take surveys. Users should beware of those that offer high payouts, as they may be a scam. Survey sites that are legitimate and have proven to pay out include Swagbucks, InboxDollar, OneOpinion, and Opinion Outpost. All sites vary slightly in redemption and or rewards available, however, like Survey Junkie, no single site will allow for you to be able to quit your day job.

 

[1] Jacqueline Hiner, “Market Research in the US,” IBISWorld, March 2020, accessed April 30, 2020.

[2] Jacqueline Hiner, “Market Research in the US,” IBISWorld, March 2020, accessed April 30, 2020.

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