A product launch can easily cost a company millions of dollars. Obviously, the manufacturer thinks that the product is a good idea, but what does the marketplace  think?

Before an advertiser spends those millions of dollars promoting a product, he wants to have some idea of the odds of his product being successful in the marketplace. Online surveys are one way to determine that. And more advertisers every day are taking advantage of this relatively low cost of doing market research that can prevent them making huge marketing and production mistakes.

The greatest benefit of online surveys is that they give corporations instantaneous feedback on their ideas, products, and services. They can find out, in short order, how much demand there is for their idea or product among their potential customers. In addition, paid survey sites enable them to tweak their offer many times if necessary until they are either comfortable that their idea is worth going forward with or is one that should be dropped. And, often times, it lets them do this at a fraction of the cost it would have taken to produce the product and market it.

Online surveys give companies one other advantage. Surveys help companies to accumulate an email list of possible buyers who have conveyed an interest in what they have to offer.

From the user’s standpoint, paid online surveys give them a chance to make a little money. If they are also interested in the product that they are evaluating, as they should be, it let’s them keep up on the latest innovations on that product. For example, if you are a Linux guru and love working with it, you might be the perfect candidate for a company about to promote a new Linux software add on. And it’s even sweeter for you, if the company is willing to pay you for your opinions.

Typically, a marketing survey form will ask a potential buyer questions about the product or service. What is it they dislike about it? What do they like about it? How much would they be willing to pay for it and so on. This gives the company a chance to modify the product, if necessary, before the intended product launch date.

As a buyer, you may also be asked about your buying patterns. For example, how often do you buy a new car, upgrade your software, or buy pasta? This helps the company gauge the size of their potential market. A company may have a product that they believe only appeals to men. If their survey reveals that it has an equal appeal to women as well, they have potentially doubled their market size. And, of course, it works in reverse as well. They may think they have a product that both men and women will enjoy, and sadly find that only men are interested in it.

With paid online surveys, both the company and the user win.  If you’re a user, the key thing is to get on the right notification lists so you’ll be aware of the online surveys that are available.