Would you like to participate in surveys and get paid for your answers? 20/20 Panel offers just such an opportunity, but whether its offer is legit and will be worth your while is something that remains to be seen.
In this 20/20 panel review, we’ll determine if the platform is a genuine paid survey opportunity by looking into how to join, how it works, and what you stand to gain from participating.
Let’s start by looking into the company itself.
About 20/20 Panel
Many major brands pay top dollar for consumer insights about their products and services. Market research provides these insights through the data collected from surveys. 20/20 Panel is one of the leading market research companies and has been around for decades.
The company was founded in 1986, and its paid survey site is a popular option among people like you and me who love to earn extra cash for saying what we think about other people’s creations. Aside from its website where it hosts online surveys, 20/20 Panel also carries out in-person qualitative and quantitative research on a variety of products and services.
20/20 Panel’s qualitative research looks into why consumers behave the way they do. It can be done online and/or offline as an online focus group or face-to-face. There are also telephone surveys.
On the other hand, its quantitative research typically involves quick surveys that you can answer online.
Some of the products and services the company frequently does market research on include:
- New recipes and items coming to popular restaurants and fast-food chains
- New gadgets and toys that aren’t for sale yet
- New mobile phone plans
The types of surveys you’ll be able to participate in will depend on your qualifications.
To be a 20/20 Panel member, you need to fall under a demographic that the company needs consumer data from. The company will determine your demographics using the information in your profile. Said information includes your location, age, sex, products you use, members of your household, and more.
The more highly sought after your demographics are, the more survey invites you’ll receive from the company.
In return for participating in surveys, 20/20 Panel will reward you with points, which you can later redeem as cash, gift cards, and other prizes. You can also earn points by participating in the company’s referral program.
That sums up what the site is about. Now, we just need to find out if becoming a 20/20 Panel member is worth your time. Our 2020 Panel review answers this question by revealing how the site works.
How Does the Site Work?
To participate in 20/20 Panel’s studies, you have to signup with the company first. You can do this for free on 20/20 Panel’s website.
During the signup process, you’ll need to provide your name, email address, and other personal information about yourself. The information will be used to develop your profile, and your profile will determine what surveys you are qualified to take.
You should provide accurate information about yourself at this stage. If 20/20 Panel discovers that any information in your profile is false, you will lose your membership and probably will never be able to sign up with 20/20 Panel again.
It’s also important that you update your profile as necessary to ensure you receive surveys that are most relevant to you. If you take surveys that you’re not qualified for, you will likely not be rewarded for them as the information in the survey will be irrelevant, making it useless for market research.
The email address and phone number you provide during signup are how you will receive survey invites when there’s a survey that fits your profile. While most of your survey opportunities will come from invites, you don’t have to wait for an invite to take surveys. You can get surveys by checking for available options in your dashboard.
Whether you’ll qualify to take the surveys in your dashboard is another story entirely.
In your survey invite, what you will earn for completing the survey will be stated. Rewards will vary from survey to survey with longer and more complex ones having more value. Generally, telephone surveys, focus groups, and in-person studies pay better than online surveys.
Before you can partake in a survey or study, you’ll have to complete a brief pre-qualifying survey. This is what will determine if you qualify to participate in a study. The sooner you respond to an invite and take the pre-qualifying survey, the better. There are often limited slots per survey opportunity.
If you snooze, you lose.
If you qualify for an in-person survey, you’ll receive a call from a 20/20 Panel representative to confirm your information. If you pass the screening call, you’ll receive the schedule and location for the study. The location is usually at 20/20 Panel’s office in either Nashville, TN; Charlotte, NC; or Miami, FL. If you live far away from any of these areas, you may be disqualified from participating.
Then again, would you be willing to travel hours to participate in a study that pays a few bucks? I’m not.
A typical 20/20 Panel interactive qualitative study can last for 30 to 45 minutes. There are also online webcam discussions, or focus groups, where you and other panelists, or you alone, will discuss a topic or product for 30 to 90 minutes.
These studies can, at times, span a couple of days.
For participating in qualitative research, you can receive between $50 and $350.
For participating in quantitative research, where you respond to a quick online survey, you can earn $1 to $10, depending on the survey. These can come in the form of a questionnaire or a telephone survey.
The funny thing is you can lose the opportunity to participate in a telephone or other interview survey if there’s no moderator available to handle the survey, but don’t feel bad because you’ll still get the same points you would have for completing the survey.
This will only happen if you were qualified to take the survey in the first place, and it was offered to you.
2020 Panel reviews reveal that you can also earn points by participating in 20/20 Panel’s raffle draws, which are held on the Panel’s Facebook Page.
When you’ve earned enough points, you can redeem them as gift cards, virtual Visa card, or a prepaid MasterCard gift card. Most of the gift cards are from major retailers such as Amazon, Starbucks, Target, iTunes, and others. There are even PayPal gift cards.
You can also redeem your points as cash via PayPal transfer.
It takes 100 points to redeem $1. You can’t redeem your points until you have 500 points ($5.00) in your account. But note that the points in your account are only valid for 18 months. After that, you lose them.
In-person focus studies pay the most, offering $50 to $350, but as we’ve said, you can only participate in these if you live close to Nashville, Charlotte, or Miami.
So, are you considering relocating so that you can earn big bucks with 20/20 Panel? Before you buy your ticket, we need to figure out if 20/20 Panel is legit.
Is the Site Legit?
Based on 20/20 Panel reviews and feedback from members, it’s safe to say 20/20 Panel is 100% legit and scam-free. In fact, it’s one of the best paying survey opportunities you can be a part of, as long as you qualify to join.
The 20/20 Panel company has been around since 1986. Their many years in the game and the positive feedback from people who have participated in its studies is a good sign. Plus, it has an A+ rating on the BBB (Better Business Bureau).
All the signs show that becoming a 20/20 Panel member will not be a waste of your time. As long as you’re in the right demographics, you’ll be able to participate in a variety of studies and surveys, and you’ll receive your reward as promised.
If you’re interested in other legit survey sites, check out OneOpinion here.
The Good and the Bad in a Nutshell
Based on 20/20 Panel reviews, here are some noteworthy pros about the platform.
- There’s a lot of money to be made from some of the studies and surveys. For instance, you can get as much as $350 for participating in a single qualitative study.
- There’s a wide variety of paid activities offered by 20/20 Panel, which means getting bored is unlikely.
- The referral program is a great way to earn passive income.
- You’ll still receive points even if you are disqualified from partaking in a study.
The following cons are based on member complaints and 20/20 Panel reviews:
- Only members who live in the cities where 20/20 Panel has offices can participate in their top paying in-person studies.
- Depending on your demographics, you may have to wait a long time before you get invited to a study.
- Limited slots for each study and you can be disqualified from being part of a study if all the slots are taken.
- There is not enough information on 20/20 Panel’s website regarding points you can earn for each type of program and how to be eligible for certain studies.
- Qualifying to participate in a survey or study can be difficult.
- You can’t do anything to increase the number of surveys you can qualify for.
The good news is 20/20 Panel is not a scam, and it pays well. The bad news is you may not qualify to become a member. Even if you do qualify to be a member, you may not qualify to partake in its high paying surveys and studies, either due to your location, limited slots, or some other reason.
Nonetheless, if you live in one of the cities where 20/20 Panel has an office, I recommend joining because participating in one of their qualitative studies can be really worth your while.
If you don’t live in one of its cities, you can still join. You can earn reasonable rates taking their online paid surveys, which you can take from anywhere.
It’d be nice if there were more paid survey opportunities and invites from 20/20 Panel, but you can make up for this by joining as many reputable survey sites as you can find. This way, you’ll have multiple money-making opportunities and a more reliable stream of extra cash.