Here is how LifePoints compares to similar companies:
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What is LifePoints?
Lifepoints can lay claim to being one of the oldest customer research companies, dating back to 1946. Lifepoints is a customer panel developed by Lightspeed Research, who are part of the global Kantar brand. This perhaps is one of the largest networks, with over 5,000,000 members worldwide. Previously they operated more than one portal with sites such as MySurvey also existing. However most of these have now been rebranded under the LifePoints app.
In real terms, this will mean little to a participant as the way the panel works is much the same as competitor networks. Users can gain access to surveys depending on their demographic. After payment they receive compensation in the LifePoints currency. These points can be converted into a wide range of vouchers. Alternatively, you can choose to redeem them for a Paypal payment.
LifePoints have sought to make their platform a little different from others with the addition of a ‘Community’ function. They regularly run news articles and also competitions where users can win more LifePoints for being successful.
Is LifePoints profitable?
There is no specific data for Lifepoints on its own, as it is part of a larger company (which then in turn is part of a larger company). But Lightspeed Research are a large company by any standards. In the last year they turned over almost £60m at a profit of almost £10m. With over £53m in the bank at the time of the last accounts, this must rank as one of the strongest balance sheets seen in the sector.
LifePoints Signing Up Offer
There is no direct incentive for signing up. You will gain 20 points for registering and completing the profile questions, which is roughly around 19p.
LifePoints Operating Model
Lifepoints works in much the same way as other companies. You sign up, and you complete some profiling questions. Then it is a matter of waiting for surveys to come in. These will appear on the site when you login.
There are two types of survey. First up are the regular research surveys. These tend to reflect Lightspeeds’ status as a company: in-depth, relatively longer surveys from established brand names. An average survey may take between 10-15 minutes to complete. The second type is the ‘Quick Poll’ – this often consists of just one or two questions and is much faster to complete, but credits very few points.
A third type of earning opportunity is engaging with Lifepoints under the ‘Community’ tab. This is actually a bit of a falsehood as you do not get to interact with users here. This is more of a blog section from Lifepoints, but within this part they will run competitions. These allow you the chance to win more Lifepoints for simple tasks as commenting on their Facebook posts. The prices are pretty good – one was $50 worth of points – but remember that Lifepoints have a huge user base. The last competition attracted around 6,500 entries, so the chance of winning is slim.
Payment for surveys is received as Lifepoints. At the moment, the exchange rate is almost 1c = 1 point. You can redeem your points for either a Paypal payment, vouchers for a wide range of shops, or even gift earnings to charity. The redemption rate is slightly better for the vouchers, disappointingly there is not a cheaper rate for charities (which would incentivise more people to donate).
LifePoints Review Pros:
- LifePoints is backed by a very large company, giving legitimacy to its operations and security to unredeemed earnings.
- Earning opportunities are spread over a range of different activities, from online surveys to product testing.
- Partial payments are credited even if you not meet the screening criteria.
- A wide range of redemption options is available and you can take your payment in vouchers for many popular sites.
LifePoints Review Cons:
- The site prioritises quality over quantity: very few opportunities compared to other sites.
- The LifePoints app has been discontinued, which cuts down on the ease of use.
- Cashing out is relatively low, but pay rates are also not as good as other sites.
- LifePoints has a huge membership, so surveys may disappear pretty quickly.
LifePoints Potential Earnings
Much will depend on how you score demographically as this determines your access to surveys. Expect earnings to be very volatile.
LifePoints Review Conclusion
LifePoints is a huge site with many members across the world. From that point of view, it can be regarded as a trustworthy and safe site. However, I have found the number of opportunities to be lower. Perhaps reflecting their dominant position they also seem to be less pro-rata against other sites, especially sites such as PopulusLive.