Let's talk about how to monetize your app with rewarded surveys

What are market research surveys?

Simply described, a market research survey is a questionnaire meant to collect information on a product, brand, or sector from a consumer. Market research is a large business: some estimates put the industry's annual revenue at above $60 billion in 2021. Some of the money goes to the firms that distribute the surveys and the people who fill them out; however, a large portion of it goes to the companies that distribute the surveys and the people who fill them out.

Surveys are available in a number of different formats. You've probably received emails from firms with whom you've done business in the past asking you to take part in "a simple survey" to share your thoughts on previous products and services. These surveys are typically hosted on a website sometimes by the site itself, but more frequently by a third-party service like Survey Monkey, Qualtrics and potential responders must click to the page and complete the questionnaire. The response rates to these surveys are typically low. After all, how many times have you dropped what you were doing to open the survey request email, click over to the survey, and fill out the questionnaire?

How do market research surveys help researchers?

Researchers can discover critical information that can guide a company's product development decisions using market research surveys. Researchers can learn about consumers' brand awareness, usage, attitudes, and views via a well-designed survey. They can also delve into individual clients' purchase intent.

Here's a wonderful video that shows you how to integrate incentivized surveys into your app:

With good reason, in-app market research surveys are becoming increasingly popular. For example, by posting surveys in specialised apps, a corporation can target a specific sector of the consumer population. It's feasible to drill down into a highly particular selection of consumers by locating apps with users who suit the researcher's response profile.

In-app market research surveys, on the other hand, make it simple to reward consumers for taking the time to complete a survey. 'Rewarded surveys' are getting increasingly popular. Let's look at how you may use them to your advantage as an app developer.

Why should I use market research surveys to monetize my app?

If you've never heard of rewarded surveys before, don't worry: they're actually fairly simple to grasp. To begin, a researcher collaborates with an app developer to get their survey in front of the consumers of that app. This is frequently handled by a third party, which helps both the researcher and the developer. When a user is given a survey, they can choose to complete it in exchange for an in-game reward, which is usually in the form of in-game currency, an app feature, or something else. The app developer is paid whenever the researcher receives a completed survey. The researcher receives the information they require, the developer is compensated, and the user is rewarded. This is it.

Rather than alienating consumers with mobile adverts, incentivized surveys can actually enhance user retention. Users commonly mention how pleased they were with the results of rewarded surveys. While ad revenue can be low for developers, market research surveys, when combined with a large user base, can provide significant cash.

If you're an app developer, you're probably often thinking about how to make money with your app. It should be, at the very least. While the field of app development has flourished in recent years, it's not simple for a new developer to stay afloat. According to some estimates, fewer than 2% of apps ever achieve what most people would call "financial success." The competition is fierce, and if you want to succeed with your app, you'll need a winning monetization strategy.

Also Read: https://www.rapidoreach.com/blogs/b/8-things-to-consider-while-integrating-mobile-rewarded-surveys

Don't get us wrong: the world of mobile apps is brimming with possibilities. The App Store currently has millions of apps available. People use their phones to browse the internet for ninety percent of the time. Furthermore, the vast majority of people's phone time is spent on apps as opposed to mobile web browsers. Still, if you want to stand out from the crowd, you'll need to think outside the box when it comes to monetizing your app.

In-app purchases, standard banner advertisements, video commercials, offerwalls, sponsorships, freemium subscriptions, and other methods of app monetization are all available. However, at RapidoReach, we believe that one method of monetizing your app stands out above the rest in terms of profit potential: market research surveys.

How do I get started with rewarded surveys?

Working with a company like RapidoReach to deploy market research surveys as part of your app monetization strategy is the best way to go. Rather than contacting individual researchers on your own, RapidoReach makes it simple to integrate surveys into your app and earn money with no effort.