We give you tips on how much extra money you can earn by registering with B2B panel providers
Let’s kick off by defining a B2B panel provider. A B2B panel provider is typically a market research company who provides a group of people willing to participate in an interview or survey. The people are usually qualified and are screened according to some criteria in order to fit a certain profile. This type of panel can give insights into products, services, industry trends. They can also be subject matter experts. Companies often want a market research company for a competitor analysis, assess brand recall or value or perform commercial due diligence. These days online B2B panel providers are very popular. They also want to gain insights into niche knowledge on products and services that a company may be planning to launch. Depending on the project type, a B2B panel provider can pool in professionals from tech, HR, finance, marketing etc.
A commercial due diligence survey also sometimes referred to as a Due Diligence Questionnaire or DDQ is a collection of questions developed to help a company analyse various aspects when making a market entry or product expansion decision. Of course, there can be several other reasons for conducting such a survey such as a vendor due diligence. Therefore, each survey will be uniquely designed according to type of project. Note that a due diligence survey is just one part of the bigger picture of conducting due diligence. Sometimes, it may not even be performed. Although there is no standardised survey, the Institutional Limited Partners Association (ILPA) provides a comprehensive due diligence survey template in a downloadable format.
Sometimes, a due diligence report can also be prepared including a section that contains recommendations, findings, and areas of concern, if any. The main reason to conduct a commercial due diligence survey is to reduce uncertainty. Additionally, a commercial due diligence survey streamlines and simplifies the process of data collection, acting as a one-stop shop for all data needs. It also makes the process quicker and more efficient.
Let's discuss what are the real benefits for a person who joins a panel provider.
A B2B panel provider is a community of individuals and decision makers from different spheres. By joining one, you can get a chance to learn more about the topic that you are already knowledgeable about. By participating in a commercial due diligence survey, you can have intellectually stimulating conversations with individuals globally.
Joining a B2B panel provider is a great chance to earn money by just sharing information. In addition to getting paid, you get work flexibility. You can complete the commercial due diligence survey anytime at your convenience. You can also get to work remotely from anywhere in the world.
If the results of the commercial due diligence survey are shared, you get first hand information about the industry you work in. As we know in today’s economy, data is a gold mine. By having and contributing to that data, perhaps your business can capitalise on it to get ahead of the competition.
Answering due diligence surveys doesn't even have to be a full time job and it can be a side hustle. In today’s $437 billion valued gig economy, more and more people are seeing the worth of a ‘side-hustle’. On the other hand, it’s a win-win for the company as well as they get access to error free and integrated data. In turn, this process contributes to the knowledge sharing economy and enriches the process for all.
There’s no maximum limit to the number of commercial due diligence surveys that one can answer. B2B panel providers like us post new surveys almost every day. Every due diligence survey answered is a chance to earn more side income. That's one of the most attractive features of a due diligence survey.
Everyone can register with a panel provider and wait for assignments that will be relevant for him. However, it is much more sensible to register with a B2B panel provider that requires your specific niche knowledge most of the time. Thus, you will get more tasks to do on a regular basis. Here, we have outlined the best tips on B2B panel providers and how to maximise your experience.
Just like there’s no limit to complete commercial due diligence surveys, there’s no limit to register with B2B panel providers. You can register with as many as you can as long as your schedule permits it. Also, be sure to be an active participant otherwise you may not get opportunities to do new surveys.
Screening questions are typically used in surveys to separate a group of respondents from another. These are used to focus on only a few respondents that fit a certain profile. In this manner, inputs can be drawn from these specific respondents. Make sure to answer screening questions truthfully. So, only answer those surveys that you are knowledgeable about to save time.
Sometimes B2B panel providers have different reward programs if you refer a friend. By getting other people to sign up, you can earn extra rewards. Check to see whether the B2B panel provider has a reward program, if it is important to you.
Since there are many survey scams, it’s helpful for other participants to know which B2B panel providers are trustworthy. By leaving a review, you save other people from getting scammed.
Yes, you do have to give our personal information like where you work, your job profile, while you answer screening questions. However, legitimate B2B panel providers will never ask you for sensitive information like credit card details. Always double check the kind of data you’re putting out.
Just like asking for sensitive information, if the panel is asking you to pay a joining fee, they are not legit. Online Due Diligence surveys are absolutely free to join for the respondent.
At GrapeData, experienced individuals from all industries simply download our app and get paid to complete personalised assignments based on their background. Regardless of where a participant might be in the world, they may be or know the right person for our client’s research. Participants receive assignments specific to them, from data research projects to surveys, providing our clients with high-quality data. It is that simple, register on our B2B panel provider app now and start with surveys!