In India, we charge 50% less than US pricing to grow our biz: SurveyMonkey CEO Dave Goldberg
California-based online survey solution provider SurveyMonkey is all grown up and eyeing the lucrative India market as never before. As most of us know, the firm allows users to create online surveys for free and charges up to $65 a month for elaborate ones â€“ collecting data and helping users make informed decisions based on what their target audience wants.
Set up in 1999 by the Finley brothers, Ryan and Chris, SurveyMonkey has been profitable since its start and never required investor capital to grow its business. But back in 2009, the founders sold the company to Spectrum Equity and Bain Capital, and former Yahoo executive Dave Goldberg became the new CEO. Till date, SurveyMonkey has acquired three survey tools set-up (Precision Polling, Wufoo and Zoomerang) and also picked up stake in the UK based company Clicktools.
The company has made foray into the Indian market one-and-a-half years ago and the pricing has been in INR only. In fact, SurveyMonkey has slashed its charges by 50 per cent, compared to the US and other markets. The strategy has worked well in a price-sensitive market like India and the local market has shown significant uptake in terms of free and paid services.
This year, SurveyMonkey is keen to grow its business across the country and will do some effective marketing to create brand awareness, which is now considerably low. Promotional activities will start later this year and the US team will take part in it besides doing some stuff locally.
Techcircle.in caught up with Goldberg at the recently held India Internet Day, organised by TiE, where he spoke about the company's India strategy and the best way to tackle the price sensitive market. Watch the video for the full interaction.