Tuesday, June 28, 2011

Speak Asia India : Is it Fraud (Scam) or Real

Well, off late there has been a lot of talk on this online survey website speakasiaonline, there were ads on television channels, news papers & also the promoters having a conference with bigger societies, ...

What is this speak asia all about:
Its an online survey company, who pays you for filling surveys on consumer products. The company claims that the surveys results help the product companies to get the market analysis & customer preferences & come up with a product preferred by the consumers.

How it works:
You need to register initially by paying a fee of INR 11,000/- & this is for one year subscription. The company guarantees to provide at least 2 surveys per week for which you will be paid $20 ~ INR 1000, so your monthly income is around INR 4000/- So you can ideally recover your money in 3 months & after that you start getting profits. This is not all, you can get even more profits by referring people, for each referral you will be paid INR 1000/- & for each pair (one left & one right under you - like a binary tree) you will be paid INR 1000/- So if you refer 2 people under you & make a pair, then you get INR 3000/- Also you get 15% of the revenue from your direct referral when they complete one survey, like for example if one of your direct referral completes one survey then your get 15% of INR 500 = 75 Rs.

Hearing all this anyone will be tempted to join this business/scheme, but wait a minute, lets do a quick analysis & later its your call to join this. Here are few points which will help you to take the decision ...

Facts & points to look at:
* If the company is only in to online survey business, then why is this huge initial & yearly fee of INR 11,000 ?
* I don't think any product company will pay such a huge fee (500/- Rs per survey) to speak asia for providing the survey results. People say that, the survey can be completed in 5 mins & some times even within a minute.
* Many people say its not a MLM or network marketing, then why is this referral scheme ? And how is the money generated for paying the commission for referral subscription & referral's survey commission. Its looks you get money from a new subscriber & distribute it to their uplines, well how long will this work? What is the fate of the people who join later & there are no more new subscribers for this ?
* Its a very new company which is just 1 yr old (India) & head quartered in Singapore. It has changed the name of the company multiple times in past few years.
* If you search in google for consumer complaints, you can see hundreds of complaints already in the name of Speak Asia.
* The company has franchisee model, so you will not directly pay to the company, rather pay to the franchisee who will get some commission.
* Speak Asia announced in a public forum that ICICI, Bata, Airtel are their clients who have asked for surveys, but ICICI, Bata, Bharati Airtel denied on this & confirmed they have not requested for any surveys from Speak Asia

Here is the news coverage by Star News & Headlines Today, watch it for the facts & reality ...

Star News Coverage on Speak Asia

Headlines Today News Coverage on Speak Asia

After looking at the facts, feedbacks & news on Speak Asia, now its your call to join this online survey business ...

Disclaimer: I am not related to speak asia nor personally used the service from speak asia, this is just my analysis from the information I got from my friends & from the internet/websites. I am also not making any judgment here, its the user's wish to take a decision.


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