Among video ads and offerwalls, rewarded surveys have gained popularity for good reason. But are rewarded surveys the right monetization method for your app? This article reviews rewarded surveys from a developer's standpoint and goes over the benefits and the challenges that come with adding rewarded surveys to your app in 2021.
Market Research has been growing heavily for the past few years and the trend is expected to continue throughout 2021 and beyond. This means the demand for consumer opinions has been on the rise, allowing for eCPMs and compensation for survey completions to outperform advertising CPMs by a lot. This is good news, because regardless of your audience you'll most likely see an increase in revenue by implementing surveys. Of course, earnings can always be maximized as this article is going to show you.
With survey offerwalls like BitLabs, users will fill a qualification profile so that we know which surveys fit their experiences and interests. While there is a lot of parameters playing into which user's opinion is most interesting for market researchers, it is safe to say that highly qualified and educated specialists are always compensated the most for their qualified opinions. However, most developers don't have this information and don't worry, that's fine! Your users don't have to be rocket scientists to bring in revenue for completing rewarded surveys.
Much more predictable is the age and location of your users. There are some countries that are generally paying better than others. Here are the top countries that earn more than $0.13 per click (on average).
As you can see, the top performing countries are mostly in the western world, but market research is getting more and more popular in developing countries, so that in the end nobody's left out. After all BitLabs is always monitoring the survey market and keeps adding in new countries to the network. We're at 32 supported countries at the moment, and we're always extending that list.
Besides the region, age is also influencial for how much a survey completion earns. The older your audience the better, however revenues start jumping up with people who are in their late 20s already.
There are multiple things you can take away from this chart. The most obvious is that opinions from people older than thirty are more valuable to market researchers. However, you can also take away that even with younger audiences between 18-30, the revenue per user will be a lot higher than with rewarded videos or ads.
In general, apps that have users who are older than 18 years in Europe and North America are the perfect match for rewarded surveys. We've found that dating and casino/gambling apps can maximize the earnings, as their users tend to be older and have quite diverse interests. For the same reason we've seen a lot of cryto related apps succeed with rewarded surveys.
Another soft parameter for success in monetizing with rewarded surveys is the behaviour of your audience. If they like to answer questions like quiz app users or if they are interested in sharing their opinions like discussion forum users, they will most likely enjoy rewarded surveys even more.
At the end of the day, it often depends on the integration and the incentive for users to take surveys as well. If you are curious, we have added to guides on how to integrate BitLabs rewarded surveys into Casino apps and dating apps.
Our knowledge base gives you insights on how to maximise earnings and how to integrate BitLabs seamlessly with your app.