“Earn $50, $100, $300 when you qualify for a paid study!” This is the headline on the 2020 Panel’s website.
There are a lot of survey panels on the internet claim to help you make a lot of money online. The only one that honestly tells the truth is Survey Junkie: “You will not get rich taking surveys!”
The earning statement by 20|20 is bold. I don’t know if this a per-survey or lifetime earnings. Whatever this means, I am interested in finding out the truth.
Is 2020 Panel worth the time and efforts to join?
From my experience, here’s my profile, taking surveys to earn extra cash is good in theory, they fail to deliver. On average, you earn less than $2 per hour taking surveys.
Taking surveys to make a living online is not a viable option. This is why I am not a big fan of online surveys.
This is how I make over $6,000 a month with just one website. I have written a guide, How I Make Money Online, to share with you the steps that I have taken to build a successful online business. Follow the link and grab a free copy for later use.
So, the question is, can 20/20 Panel deliver on its earning promises?
If I can earn $300 per qualified study, maybe it is time to change jobs for me. This one sounds too good to be the truth. Let’s find out in this 2020 Panel Review.
Quick 2020 Panel Review
This company conducts both online surveys and focus groups for hundreds of companies each year.
2020 Panel offer two types of focus groups: an online focus group and in office group discussion. The online study groups are conducted through live chatroom while in office focus groups are conducted throughout the US and at the company physical location in Nashville and Miami.
2020 Panel is opened to the public and everyone can join for free. Registering with the site allows members to take surveys but won’t allow them to automatically qualify to participate in the focus groups.
Focus group participation is by invitation only. I’ll share more details later in this 2020 Panel Review.
However, as a member of the 2020 Panel, you will have a variety of options to earn money, which I’ll discuss in the section of this 2020 Panel review, ways to make money with 20|20 Panel.
How Does 2020 Panel Work?
20/20 Panel works like other online survey companies. People have to register and become members before they can participate in taking surveys and other market research activities to earn money.
Joining 20/20 panel involves a bit more works than other survey sites.
Once you visit the company website, you can click on the “Sign Up Today” button to start the registration process.
You must live in the United States or Canada and willing to complete a 5-10 minute survey to qualify for membership.
According to the 2020 Panel, the registration survey is necessary to help them quickly find and offer you surveys that are right for you.
This survey asks for your demographic information together with contact information such as home address, email, and phone number.
Once joined as a member, you can check the website for available surveys, but the highest paid surveys are offered by email. You have to wait for an email or a phone call inviting you to participate in studies and earn big money.
The waiting game began!
Ways to Make Money With 2020 Panel
20/20 Panel offers a variety of market research opportunities for member to earn money. These market researches are divided into two types: qualitative research, and quantitative research.
Earn points with quantitative researches
Quantitative research is the traditional surveys where companies ask for your opinion related to certain products or services.
These market researches are conducted through email which 20|20 Panel will send out to all qualified members.
Sometimes, these surveys are the initial step to start an in-person interview.
To consider for participation in a focus group, you must take the initial quantitative surveys to determine eligibility.
If you qualify and a moderator is available, you will be contacted by email or phone for the in-person interview.
If you don’t qualify, or no moderator available, then the opportunity will close, and the 2020 Panel will reward you points for answering the surveys.
All qualitative surveys pay points which can be converted to money, gift cards, or other rewards.
2020 Panel pays between 100 to 190 points, about $1 to $1.90, for each completed survey. The points amount depends on the type of survey you are taking. More discussion on this topic later in this 20|20 Panel Review.
Make cash with qualitative studies
The qualitative research is an unstructured or semi-structured market research technique to get inside the consumers’ mind to find out why they are behaving the way they do.
In-person interview and group discussion are the best way to conduct this type of research.
2020 Panel offers qualitative researches both online and in an office setting.
The in-person interviews are mostly offered at 2020 Panel offices. You are required to visit their office located in Charlotte, NC; Nashville, TN; or Miami, FL, or a location designated by them.
2020 Panel also conducts online focus groups which you just need a computer or laptop, internet connection, a webcam, and a headphone with a speaker to participate. These online group discussions can last 30 to 45 minutes a day, sometimes lasts for a few days.
This style of market research requires a moderator, and participants can express their opinions and feelings about a product or service inquired by the moderator.
If a moderator is unavailable, the focus group is canceled. This is a common occurrence with 2020 Panel.
Here are a few qualitative market studies offered by 2020 Panel:
- Taking surveys with online chat interviews
- An online chat group discussions
- Online webcam discussions
- In-person interviews or focus groups
If you are invited to participate in any of the 2020 qualitative studies, you will receive cash compensation, not points, anywhere between $50 to $350 per study.
The pay rate for participating in qualitative market researches is high. However, there are very few of these studies conducted by 2020 Panel each year, and they are very competitive because of space limitation. You cannot rely on this as a regular earning option.
You cannot just register and join a focus group. This is done by invitation only.
20/20 panel will email or call to invite you to join the focus groups that they think you’ll be a good fit for, based on the personal profile.
Receiving an invitation doesn’t mean you are qualified. You still have to answer a short survey to see if you are eligible. See quantitative research for details.
If you are qualified and space still available, A recruiter will call to confirm and provide you details about the study.
More options to earn with 2020 Panel
Be sure to join and follow the 2020 Panel Facebook Page. The company regularly holds raffles and other online games which you can participate to earn points and rewards.
2020 referral program does not pay cash like InboxDollars, Swagbucks, Survey Junkie, and Ebates, but it is another option to points when someone joins the panel and completes a survey. You can later exchange these points to cash.
Referral bonus is the most lucrative option to make a lot of money with survey sites. I have included a section at the end of this 2020 Panel Review to discuss The Best Way to Make Money with Survey Sites.
2020 Panel Payment System
20|20 Panel offers two forms of payments: Cash and Points.
The points reward system applies to surveys, Facebook raffles, and referral bonus.
The cash payment applies to person-interview and focus groups.
Under the 2020 Panel payment system, a member can potentially earn both points and cash in a qualitative research study.
- Points are rewarded for completing the pre-quailed survey to determine eligibility.
- Cash is rewarded for participating in a focus group.
Earned points will expire after 18 months. You have to redeem these points to avoid losing them.
How to Get Paid and Redeem Points?
500 points is a minimum amount needed to redeem for $5.00, 1 point = 1 cent conversion rate.
There is no partial redemption. This is why I don’t like the 2020 Panel because you can lose all the points for failing to reach the 500 thresholds within 18 months. All hard work for nothing. Taking surveys is not a good way to make money online.
Once you meet the 500 points requirements, the request button becomes available which you can simply hover over and click redeem.
20/20 Panel offers two forms of payments:
- Cash deposit into a verified PayPal account, or
- A Tango gift card
You have the option to accept an e-gift card, which will be emailed to you, or receive a physical gift card sent to your home address.
Tango gift cards expire after 6 months. So, I suggest choosing a PayPal transfer as a priority option.
In-person interviews and focus groups are paid by cash, prepaid VISA, or store gift cards.
If you are participating in an offline study group, then 2020 Panel will hand you the payment after completing the study.
If you attend an online group, then you have the choice of accepting payment through PayPal, email in the form of an e-gift card or virtual VISA card, or payment sent to your home.
The payment process takes approximately 7-10 business days after the study end for electronic transfer, and it takes longer for direct mail.
Should You Join 2020 Panel?
After conducting this 2020 Panel review, I would not recommend this survey program to anyone, even people interested in taking surveys for fun.
I agree that the 2020 Panel offers a higher payment for study groups, but the chance of getting an invitation and qualify for the study is very slim. Once qualified, you still have to compete with other applicants for a seat.
Why wasting so much time and efforts just for a chance to earn a few bucks, you are better off investing this time and efforts into an online opportunity that can produce real passive income every month.
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Is 2020 Panel a scam?
I have people asked me this question so often that make me think “why so many people feel this way about 20/20 Panel?” So, I decided to write this 202 Panel review to answer this question.
For the record, 2020 Panel is not a scam. This company has been in business since 1986, and it is considered the oldest survey site on the internet, though not the most popular.
Here are some reasons that I believe made the 2020 Panel appears as a scam:
- Unrealistic claim: I don’t see the need to claim that member can earn $50, $100, or $300 when in reality this is rare. Today everyone knows that you cannot get rich taking surveys.
- Most members never make it: Focus groups are not commonly conducted, and when it does, not everyone is invited. Those got invited only a small number make it through, most disqualified.
Unable to qualify for any study group together with unrealistic earning offers makes 2020 Panel looks unreliable and untrustworthy. These are the characteristic of an online scam.
A Better Option, Not 2020 Panel, to Make Money Online
Taking surveys to earn a few bucks is hard work, not smart work. I never recommend this moneymaking option to anyone looking to make a living online. This is not a reliable source of income.
I have been working online for over a decade as a blogger and an affiliate. Here’s my profile. I have never seen anyone get rich taking surveys. However, there are a lot of rich bloggers and affiliate marketers.
It is easy and cheap to set up a blog website today. Yes, you have to learn the basic, but guess what, most of the basic lessons are free.
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Taking surveys to earn pennies. Building an online business to become a millionaire.
Share your thoughts and ideas with this 2020 Pane review.
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