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Wouldn’t it be nice if your phone could help pay for itself? Or at least help ease the burden of monthly bills and other expenses? Turns out, there is a way to earn a small return for simply possessing and using a smartphone.

A handful of companies pay you to install their market-research apps on your phone or other electronic device and pay you for every month the app remains installed. Some even kick in bonus loyalty payments along the way.

Some of the leading names in this arena are Verto Analytics, The Nielsen Company and Survey Savvy, each of which have their own research programs and associated apps that reward consumers for participation.

The payments and rewards are by no means gigantic — averaging around $5 per month — but in some cases there are sign-up bonuses and increased bonuses for remaining a participant over an extended period of time. For example, Smart Panel, the Verto Analytics program adds up to about $110 in 12 months, or $230 in 24 months, when you factor in loyalty payments.

Here’s a closer look at each program and what digital experts say to consider before installing market-research apps of any type on your devices. (Only Verto Analytics responded to our requests for comment.)

Smart Panel

Launched in 2012, Smart Panel is a research project run by Verto Analytics focused on collecting information about how people use the Internet through computers, smartphones and tablets. The goal is to understand how people interact with each other, as well as with websites, apps and devices. The program relies on participants agreeing to install the Smart App.

“Smart App runs in the background while anonymously and securely collecting statistical data about how devices are used,” said Verto Analytics’ senior vice president of marketing, Alison Murdock. “The data collected relates to the general usage of devices, device features, apps and services.”

Since its creation, more than 1 million people have participated in Smart Panel, said Murdock.

Participants are paid $5 for signing up and…