Speak Asia published a 43-point frequently asked questions document over the last twenty-four hours, responding to unpaid panelists and four government agencies investigating its operations. The company designed the FAQ to counter rumors and accusations about its business model.
Much of the forty-three points, however, are largely incoherent. Many of the answers do not withstand scrutiny, raising more questions than they resolve for the company's two million strong members.
The first question asks, "What is Speak Asia?" The company's answer describes Speakasiaonline Pte. Ltd., Singapore (SAOL), as a "unique web 2.0 company." It claims to empower 19 lakh consumers to use their "collective bargaining power" for "unprecedented price advantages" on goods and services through its portals.
This definition marks a significant departure from the company's long-standing "do surveys, get paid" message. The answer makes no mention of earning money through recruitment or any connection to surveys and panelists. It suggests a shift from a recruitment-heavy model to one focused on surveys and product purchases through company portals.
The second question addresses, "What is its business?" Speak Asia states it operates in two primary domains. The first, "precision marketing," involves "filtered/narrow casting of marketing and sales related services." These include providing survey panels, advertising, lead generation, and direct sales.
The second domain focuses on "knowledge, information and training" for its panelists. This is meant for their "overall development" to create "empowered consumers." Speak Asia claims panelists earn "reward points" by participating in activities like filling surveys, product referrals, sales, advertising-based surveys, and self-development training. Panelists can then use these points to buy products and services from the website.
The introduction of lead generation, advertising, and sales as business models is new. These elements were not previously part of Speak Asia's stated offerings. All three strategies aim to maximize Speak Asia's earning potential from its panelists. Panelists, in turn, still receive the same flat rate fee or reward points, as the company now specifies.
The company's published FAQ presents a view of its operations that differs sharply from its original promises to many of its members.
