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Survey monkey Business Model

Survey monkey Business Model

Survey Monkey is the online survey software created for doing online surveys. It is one of the best online survey software. Most people prefer to use it.The Survey Monkey launched in 1999. It was set up by Ryan Finley and Chris Finley. Monkey survey enables users to formulate their surveys using question formats template. It is a free tool, and it also offers a paid version for utilizing some extra advanced features.

The surveys have organized to conduct market research. Survey Monkey allows users to ask questions in surveys and get feedback of the customer and employees. The main motive of Survey monkey is that they help their users to make a more significant recommendation.

The specialty of Survey Monkey is that it offers self-guided lessons to make the users understand the features. The Survey Monkey provides several advanced features which help professional to conduct various types of surveys and get instant answers. It covers a massive number of audiences.

Survey Monkey offers excellent features like data reporting and data analysis, which analyze massive data collected during surveys. 

Survey monkey has made the easy achievement of generating, gathering, and exploring data from thousands of respondents. All kinds of surveys, whether long or short, simple or complex, can be created in a few minutes.

Survey monkey is popular software that many professionals use to conduct online surveys to know where their company stands. Survey monkey has become a top-rated online survey program that is free of cost but uses some advanced features, and it also offers a paid version.

Many people use Survey Monkey as their first choice for conducting online surveys. Many customers dealing with Survey Monkey are small businessmen, academics, medical professionals, event managers, researchers, and 500 companies. It is widely using in all over the world, and approximately 190 countries are using Survey Monkey. It is operating in 16 languages.

The Survey Monkey conducts 5000000 surveys in a month. It has a large number of site visitors, approximately 692 million people.

Any company’s performance has based on the business model. The business model of a company is the strategy of a company by which it plans for a successfully running business. The business model of a company has based on its objective. The business owner creates a business model after keeping the demand and needs of the market in mind. The business model of a company helps in running the business more effectively and efficiently.

The business model of a Survey monkey includes some points:

Freemium business model: 

Survey Monkey is based on the freemium business model. It means that they permit their users to use the essential tools; the company offers various best tools. The necessary tools are free of cost; it does not charge anything. But the company also offers some paid features, these features are advanced and enhance your surveys. You can upgrade the features by paying a very affordable amount.

The Survey Monkey provides you the best features for free of cost for making the surveys more effective. 

Customer segments:

Survey monkey’s business model has a basis of segments. It helps in understanding the several requirements and difficulties of the customers. They offer their services to the following two categories.

  • Organization: The company has generated Survey monkey enterprise for organizations, that provides multi-user account. The stake holder has only a single login ID, but he can share the ID with the organization’s co-workers. Users can create surveys and share the results. It helps in setting morenatural command over the data.
  • Non- organization: The company offers a single user account for individual customers. Usually, these users choose the free account but can use the advanced feature by paying for a paid account. He has all the control over the access of the account. He can generate surveys and get results for interpreting.

Medium:

Survey monkey’s primary medium is its website through which it serves to market. It also offers real service. Besides, the Survey Monkey offers mobile app facility through which customers can conduct the surveys efficiently. It also provides extra service for paid users, and it provides services through email or phone.

Cost formation:

The cost formation of Survey Monkey is to minimize the cost of expenses through remarkable automation. 

Important resources:

The essential support of the Survey Monkey is its trademark software platform. The software helps in conducting the surveys. The company resource also includes human resources that provide services to customers.

Main Partners:

Survey Monkey has several partners like Mail Chimp, Hub Spot, Zen desk, and Microsoft word. The company has several third-party apps and widgets provider that helps in translate theprogramsinto main tools. The partners of Survey Monkey can share and send surveys and also examine their results. 

Primary activities: 

Survey monkey’s key activitiesfocus on directing platformThe main aim of a company is to maintain Software-as-a-service (SaaS) that helps in creating surveys. Recently, the company has launched a latest platformnamed Survey Monkey Benchmarks. It allows users to compare their survey results with the competitors. 

Customer Relationship:

Survey monkey’s business model’s primary aim is to create a healthy relationship with the customers by providing the best of their services. They focus more on providing services through the platform rather than communicating with the employees. 

Survey monkey also offers customers services like they can receive email support, and paid customers can get the facility of receiving email 24/7 and phone support.

Value Propositions:

Survey monkey provides three primary value propositions: accessibility, customization, and brand/status.

  • The company provides accessible services to all its customer’s weather; they are individuals or small businessmen. They can quickly form surveys and access to millions of people and offers practical awareness. It provides instant results without any delay. 
  • The Survey Monkey offers services of 200 templates. These templates consist of market research surveys, employee surveys, political surveys, event planning surveys, education surveys, and health care surveys.
  • The Survey Monkey company is one of the best and leading online platform for conducting online surveys. The company has about 25 million users and gets responses to over 3 million surveys.

In this article, you will learn about the business model of the Survey Monkey, which helps in reaching the heights of success. It is considered one of the frequently used survey platforms; most users prefer Survey Monkey for conducting surveys. I hope the article will help you a lot.

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Bhanu Garg

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