Consumer panels seem like a fun way to get your "two cents" into what consumers really want in their products. But, are these panels legitimate? Find out more.
Anyone who has ever received e-mail has most likely found in his or her inbox an invitation to join a consumer panel. They sound so fun, so interesting, and they sound like an easy way to earn some money or win cool prizes. Things like consumer panels tend to make people leery, as well. The good news is that there are legitimate consumer panels out there that genuinely want your opinions on products, and have sound reasons for wanting to track your purchases.
Things to Consider Before Joining
The number of different panels is mind boggling, and that number is growing every day, so perhaps there is something to the concept after all. We will take a closer look at just a few of the most popular consumer panels that treat consumers well, and a few of the less reputable panels that make it harder for you to earn rewards. There are other things you must think about as well if you decide to take up consumer panels as a way to earn extra money.
These are a few points to consider:
- Does it cost to join and how much?
- Does it offer cash, products, or both?
- How much time do you have to devote to participation?
The first point is practically moot. It should never cost you any money to join a consumer panel, and if it does, you should ignore that one. There are plenty of others that are free.
Popular and Reputable Suggestions
One of the panels that has the best reviews is Global Test Market. They send a lot of survey invites, so it is easy to reach the payout level. Each survey is worth points, and the points are redeemable for cash or prizes, such as gift cards to stores or products.
Another good one is Lightspeed Research Panel. The first incentive they offer is a daily chance to win 5000 points, and a chance to win $5000 just for joining. Winners are also chosen every day for prizes and cash. Surveys come pretty often, and points are given which you can then redeem for cash, prizes, or gift cards.
The Brand Institute recruits panelists to help in consumer research for mainly health products, like over the counter medications. Each survey could earn you between $10 and $30, which you receive by Paypal or by check a few weeks after completing the survey.
None of these usually require more than 30 minutes for each survey, they are free to join, and they pay you pretty well for your time.
Reputable But Hard to Earn Rewards
These are the consumer panels to avoid.
Nielsen Net Ratings will install spyware onto your system. The problem is they ask you to install a toolbar to have easy access to the surveys they want you participate in, but the toolbar is actually a way for them to track your Internet use and sites you visit. Plus, they only send an occasional survey, which you are unlikely to qualify for. The points you might eventually earn would take forever to reach the payout level. On the other hand, Nielsen will send you the scanner and software you need to submit your weekly purchases, and it does not cost anything to get this equipment from them.
Another panel similar to Nielsen is Greenfield Online. They also install tracking spyware and only send 1 to 3 surveys per month. They pay you with sweepstakes entries or points. It is very hard to accumulate enough points to redeem for cash.
Consumer panels are meant to improve products and services. A legitimate panel will never ask you to purchase any product in order to participate, to win prizes or earn your money. Your opinions are worthy, and your time is valuable, spend both carefully. Read some reviews by real users of consumer panels to find out more information before you make a decision to join.
