NEWS17 May 2011
INDIA — A company asking people to pay a large upfront fee for the chance to earn money by taking surveys is facing tough questions in India.
Singapore-based Speak Asia has aired TV ads around Indian Premier League cricket matches over the last few weeks. The firm says panellists can earn rewards by taking online surveys – but only after paying a fee.
Speak Asia’s website describes three ways to register as a panellist – either by passing a “test and interview for selection”, with an examination fee of $60, or by buying a subscription to its weekly Online Surveys Today e-bulletin, at $120 for six months or $220 for 12 months.
The only option that does not require payment is to provide proof of an annual income of $1,000 or more from “any of the global top 20 online survey companies”.
Speak Asia claims that it is possible to earn $20 per day taking surveys, but that participants can massively increase their income by referring other people to join.
Indian journalists have challenged Speak Asia about its business model and practices, and Kirit Somaiya, leader of the opposition party BJP, has filed a complaint against the firm with the economic offences wing of the Mumbai Police, Star News reported today.
Moneylife reported that at a press conference held yesterday, Speak Asia’s representatives denied it was a multi-level marketing operation, describing itself as a precision marketing services provider. The company declined to divulge any details of its ownership or financial details unless reporters signed a non-disclosure agreement, Moneylife reported.
The firm also retracted a claim made by its chief marketing officer at a recent trade fair that its clients included Bata, Nestlé, Bharti Airtel, ICICI Bank and ING Vysya – after Star News broadcast statements from some of the firms saying they had no dealings with Speak Asia. The company said it has not been commissioned for work by any of these companies, but insisted it has “worked with” them.
In a statement received by Moneylife the firm, which said it launched last year, claimed to have made turnover of $80.5m over the last three quarters, and paid out $52m to more than a million panellists for completing surveys, evaluating ads and referring other panellists. It said it had spent $9m on marketing, training and business development.
Other companies charging panellists upfront include Ram Survey, which claims to be “India’s largest survey company”, and asks members to pay 3,500 rupees ($78 ) to join, offering the chance to earn 500 rupees ($11 ) per week from surveys, and much more for referrals.
Representatives of Speak Asia could not be reached for comment at the time of publication.
An Esomar spokesperson said research participants should always check whether companies adhere to recognised professional standards, but declined to make any further comment.
The Market Research Society of India declined to comment on the matter.