Is 2020 Panel a Scam?
People wonder about online survey sites and whether they are legit. Which led me to ask is 2020 Panel a Scam? The Review will Explore this Website.
Summary
You should know that I am not a fan of survey sites. Overall, you won't make the money that is advertised by these companies. They lure you into thinking you'll make hundreds of dollars only to be disillusioned to make a few dollars for a lot of work.
That's the biggest complaint from people with 2020 Panel. The qualification process leaves a lot to be desired. You can spend thirty minutes or more on a qualifying survey and then you receive a notification that you are not eligible for the survey that pays. If this happens too often (which some complain is the case) then you are are essentially working for the company for no pay.
Disclaimer: I have not signed up for 2020 Panel and I have no intention of doing so. The information presented in this review is based on research that I performed on the company. My experience with most survey companies has been that of wasting time. With these companies in general, you can end up spending 30 minutes or more answering personal questions only to receive a dollar or two. There are better ways to spend your time and have the potential to make significantly more.
Pros vs. Cons
Pros
- Established company - started in 1986
- Relatively few complaints registered with Better Business Bureau. Those complaints were all addressed by the company.
- Many complaints from online forums relate to the survey industry companies in general and are not specific to 2020.
Cons
- Survey companies are not the best means of making money.
- Lengthy qualifications process that seems to capture much more information than is needed to qualify people.
- Some complaints of non payment.
- Over-hyped sales letter promising bigger gains than most would experience
Details
Based on my research, I don't believe 2020 Panel to be a scam. The main company 2020 Research, has existed since 1986 and had the support of venture capitalists. While that alone does not guarantee a company is on the level, venture capital companies would likely speak up if they were scammed out of their money. I have not found any indication of this development.
Proof of Payment
A bit of detective work has led me to believe the company does pay people for the work performed. On the Better Business Bureau, there are a few complaints (quite small when you consider how long the company has been in existence). One complaint was that the debit card given to the participant for $100 expired after ten months instead of the agreed upon twelve months. The company responded stating that the person tried to use the card after the twelve month expiration.
While both parties had some points, the participant did receive $100 in the form of a debit card. It's not clear what kind of tasks the participant was expected to perform for that amount nor the time spent. Nonetheless, one of the biggest complaint (see next section) is that the company does not pay.
Complaints Against the Company
The two biggest complaints against the company is that they do not qualify for as many surveys as they would like and that the company doesn't pay. As for the first, if it takes more than a few minutes for people to qualify for a survey only to be told they aren't qualified, I can see how that doesn't sit well with people. It's one of the beefs I have with survey sites.
The company may want to reevaluate this policy and shorten the qualification process. It should not take more than a few minutes to determine if they are a good fit for a survey. The motivation behind the process taking thirty minutes or more is to capture information without having to pay. That is shady business practices in my book and will cause consternation among participants.
As for the other complaint that the company does not flat out pay, there seems to be conflicting information about as was shown in the above section of Proof of Payment. Does this mean the compliant is unwarranted? It's inconclusive. But, to state that the company never pays is false. Their terms may not be agreeable to some (expiration dates, etc.) But, they do pay from the scenario above.
Seasoned Participation Is a Virtue with Survey Companies
Proper set up of surveys is both art and science. Companies like 2020 Research code surveys in a way to catch participants who lie. But, many companies give preferential treatment to seasoned participants. In other words, the more surveys you take for the company, and the more your answer the questions honestly, the more trusting the survey companies become. At some point, these companies will qualify you more often and for bigger payouts.
I cannot know if this seasoned participation is used by 2020 Research. My guess is based on the longevity of the company, they must use some intelligence in their surveys. It's unlikely the company would give you too many details about their trade secrets which this feature may or may not fall into that category. But, it could be worth asking the question.
Opportunity For Occasional Income Only
It's highly unlikely you will replace your full-time income with survey sites. It's advisable not to quit your job based on the promises of huge cash payouts by these websites. The point is you won't know how many opportunities will present themselves to you and the ones that do, which you'll qualify for. This unknown makes it difficult to generate steady income. If you feel you want to participate in surveys, treat them as a way to make a little extra spending money, nothing more.
Next Steps...
If you still feel you want to proceed in working with 2020, I don't believe they are a scam. It doesn't appear to cost any money to sign up and perhaps when you become seasoned you may make a few dollars from the company. I would suggest calling them and asking if they put a premium on seasoned participants as described above. They may not be willing to answer this question but it certainly can't hurt to ask.
If you want to work with something that has a much higher chance of making you money and much more than any survey companies will pay, then you should consider learning the affiliate business model. If you aren't familiar with this model, it allows you earn commissions by selling products and services from brand-name vendors. The vendors give you access to a special coded link called an affiliate link. This link lets the vendor know that you referred traffic from visitors to your website. If those visitors buy from the vendor, you get credited with a commission.
If you are wondering what types of vendors participate in the affiliate model, the answer is most of them do. For instance, suppose you use Turbo Tax for filing you taxes. There is a good chance you bought the software from someone who is an affiliate of Intuit. More companies are jumping on board the affiliate model because it is an effective sales channel.
There is obviously much more to learn about this business, too much to discuss in this one article. But, I have been working with a training company that has taught me and many others how to make money with the affiliate model. There is a right way to do it and many wrong ways to do it. Trying to go it alone will likely lead you to one of the wrong ways to do it. Why go through that when there is already a proven and tested model? It doesn't make any sense.
You can learn more about how to get the correct training for the affiliate business model by reading through my review of the training program. You can sign up for free and you don't even need a credit card to get started. The only question that you should be asking yourself now is, what are you waiting for?
