The 20/20 Panel, found online at 2020Plan.com, is a new market research company which promises their members a way to simply and easily earn money from home just by giving their opinion.
People who are interested in being members of the 20/20 Panel and taking part in their paid research opportunities are welcome to do so just by signing up and filling out their questionnaire and profile.
Though members are not asked to pay any fees to become a member of this company, they are asked to provide as much information and detail in their profiles as possible, because this makes it easier to match you with the appropriate opportunities.
How Does the 20/20 Panel Work?
According to their website, the 20/20 Panel works like most other market research companies, in that they partner with large corporations that are interested in hearing what you have to say about the products and services you use every day.
These companies pay 20/20 to create the surveys and other research opportunities, like focus groups, product testing, and more, and to implement this research, collect and analyze the data, and provide it back to them.
In exchange for you actually taking the time to participate in and complete these research opportunities, 20/20 Panel says that their members could be paid between $50 and $150 “just for sharing your opinion.”
The Concerns
The fact that this company does not charge their members a membership fee is incredibly important, because no market research company should ever charge fees in exchange for their customers’ work. However, there are some other concerns which should be addressed.
First, this company makes ridiculous and unrealistic earnings claims, saying that their members should expect to be paid between $50 and $150 per project, when the truth is that online surveys usually pay less than $5 per survey, and product testing doesn’t pay much more. An in-person focus study will often pay more, because you are required to come in and be dedicated to a task for part of your day, but this company only provides in-person studies for people that live in the Nashville, Charlotte, or Miami areas.
In addition, this company provides no information about how they compensate their members, whether in actual cash or gift cards or in “prizes,” nor do they offer any information on how much you will have to accumulate in your account before you can withdraw your rewards. This is important, because companies that require high withdrawal minimums are generally trying to get their members to provide them with market research that they will never actually pay them for.
The bottom line is that, because this company does not charge their members any fees, people should feel comfortable trying this opportunity for themselves, but they should understand up front that they are not going to earn the large sums of money promised by their sales page.
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