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The tool, known as Benchmark, aims to bolster
the fee-based, rather than the free part of SurveyMonkey’s
business model, helping it justify the $2 billion valuation it
commanded when it raised $250 million in funding in December.
"The way to think about this is SurveyMonkey democratized the
way people collect data," Chief Executive Dave Goldberg said in
an interview on Monday. "The next step is democratizing
comparative data."
Organizations are increasingly relying on ever more intricate
slicing and dicing of data, much of it generated by social media
and the growing digitization of communication. Call it "Big
Data," although some data scientists say that term covers only
the largest data sets.
Goldberg aims to allow organizations to compare metrics such as
website feedback and employee engagement with other similar
organizations. Fees vary depending on the granularity of the
requested data.
Some very basic information comes free, but most pricing starts
at $799, SurveyMonkey said, adding it believed that pricetag
sharply undercut current market prices.
Competitors vary according to the sector, but include Foresee
for website satisfaction and Press Ganey for patient
satisfaction.
Palo Alto, Calif.-based SurveyMonkey’s existing core business
allows organizations to quickly set up online surveys. Most are
free, but the company does charge fees for advanced features,
such as downloading results.
Benchmark has been in a trial phase for several months, with
customers including Hallmark Cards, Jive Software, and Next Day
Blinds.
(Reporting by Sarah McBride; Editing by Clarence Fernandez)
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