Easy money always sounds too good to be true, and that’s because it almost always is.
Although many survey sites promise you’ll make some fast cash with minimal effort, this is rarely the case. The majority of survey sites, unfortunately, turn out to be scams. Even if they aren’t, they may not be so eager to pay you for the time and effort that you put into completing surveys.
However, if you decide to use survey sites to earn some money on the side, you’d do well to keep your eyes peeled for red flags.
In this Knowledgepanel review, we’ll examine whether they’re worth your time or not by looking at their history, what makes them different from other sites, and whether there’s any evidence that they’re trustworthy.
About Knowledge Panel
Knowledge Panel is a survey company that was created by two Stanford University professors in 1999. However, the site has since changed ownership into the biggest players in market research. Germany's Growth from Knowledge or GfK owned Knowledge Panel before the survey site has been acquired by Ipsos in July 2018. It is indeed a force to be reckoned with in the market research space.
Boasting a 55,000-member online panel, they are a credible source of information that even Fortune 500 companies trust—and they don’t work with just Fortune 500 companies alone. They also work with universities, governments, and news agencies.
They have a rich history, too. Ipsos, which is the company's current owner, has been in the marketing and consulting space since 1975, and they certainly apply all of that knowledge and expertise in running the Knowledge Panel site.
Check out this video to know a little bit more about Ipsos.
Apart from the expertise that Ipsos brings to the table, Knowledge Panel itself has been in business for over two decades, and they certainly do have a lot of experience. This expertise and experience are what really distinguishes Knowledge Panel from the legion of other survey sites on the internet.
Because of their exclusivity and careful selection, they are the only online consumer research panel that accurately represents the US population. This is applaudable as, because of this selection, they can also deliver better results to their clients as they can target more difficult-to-survey populations, including:
- Young adults between the ages of 15 and 19
- Households that only use cellphones
- African Americans
- Latin populations
They definitely know what they're doing.
How Does Knowledge Panel Work?
As we indicated earlier, Knowledge Panel is very selective. They do this to get very targeted results. Self-selection bias is addressed by randomly choosing their reviewers.
This randomized selection also ensures a clear sample of the US population is being surveyed. With open sign-ups, a distinct demographic is often found as most those who seek out paid surveys share certain characteristics.
In short, you don’t decide to be a panelist for Knowledgepanel.com. They invite you. To sign-up, you need to receive an email from them inviting you to be an online panelist, then you get to sign up via their form on join.knpanel.com. Reviews seem to be generally positive about this point in the process as once you sign-up, you’re immediately given a survey to complete for which you earn 10,00 points or the equivalent of $10.
The caveat, however, is that Knowledge Panel is only open to users in the US. This is because they mostly work with American companies who are specifically looking for useful data on American consumers.
The platform also has an age restriction. Users as young as 13 years old can join, hence the site’s ability to survey the hard-to-target population of people who aren’t yet adults in the eyes of the law.
They will, however, ask for the permission of a person's parents or guardians if an invited reviewer is younger than 18 years old. Because they show that they value parental control, they prove themselves to be even more credible.
What Do You Do on Knowledge Panel?
Once you become a member of Knowledge Panel, you’ll usually be given a survey via email to complete once a week. Most surveys only take between 10 to 15 minutes to complete. The surveys are about a wide range of topics that run the gamut from sports to science.
How Does Knowledge Panel Reward You?
Knowledge Panel has a points rewards system. You earn 1,000 points when you complete a survey, and the points have a fixed value — 1,000 points equate to $1.00. Instead of sending you your cash rewards through PayPal or other options, they’ll mail you a check to your address, though there are also other redemption options.
Beyond cash, you can also choose:
- Gift cards
- Selected merchandise
Another thing to note is that you must have at least 25,000 points ($25) to withdraw your points in any format.
Is Knowledge Panel Legit?
Apart from the credibility of the parent site, a lot of other things lend an air of credibility to the Knowledge Panel site.
However, a few points stand out:
- They are upfront about their policies. This transparency shows that they are willing to be held accountable and seek to be honest with their users—no fine print to miss.
- They provide a helpful FAQs section. Their in-depth knowledge center offers answers about things like how to join and a description of their reward points systems.
- Superb BBB score. Although they have several negative customer reviews on their BBB (Better Business Bureau) profile, they still have a fantastic score of A+! In the cases of negative customer reviews, they also responded to resolve the situation that their users had. That’s excellent customer service.
This site hasn’t racked up a lot of positive reviews—or any reviews really. For instance, the company isn’t on TrustPilot. This issue may be a result of the closed nature of the site as far as selective, invite-only membership. Even so, their parent company, Ipsos, is in plenty of reviews and well-regarded in the market research field.
We feel confident saying Knowledge Panel is not a scam.
Knowledge Panel Review: The Good and the Bad
Let's now examine some of the unique advantages of the site. We'll also examine the not-so-fine points of the site.
- The site is 100% free, and you’re never asked to add a credit card.
- The surveys don’t take long to complete. On average, each survey takes 10 to 15 minutes to complete, but they do vary.
- There’s the satisfaction of knowing that you are making meaningful contributions and expressing your opinions about the topics you’re most passionate about.
- There are a variety of ways to redeem your points, including games, actual money, gift cards, and more.
- There is a range of topics you can complete surveys on which make the given task of completing surveys much less monotonous.
- You’ll earn $10 just for signing up.
- You can’t join Knowledge Panel without an invite, nor can you request an invite.
- They don’t have a referral program.
- Only users in the US over the age of 13 can join.
We’ve done out best in this Knowledge Panel review to outline the pros and cons of the site as well as the ins and outs as far as how the platform functions. Hopefully, if you're here, you've already been invited and are just debating whether to join or not. If so, from all the points we examined, Knowledge Panel is a trustworthy site that can be worth your time—give it a try.
If you haven’t been invited, unfortunately, there is no way to request an invitation. All you can do is hope you are selected at random at some point in the future.