Our goal is to help boost your survey project to the next level and get you the insights you need. So now you’re ready to start your first SurveyMonkey Audience project…what should you be aware of? How much does it cost to get started? And how did we come to those numbers anyway? Let’s take a behind-the-scenes look, shall we?
We wanted to help explain our pricing philosophy so you can be better informed with how it impacts the cost of your survey projects.
When thinking about our pricing model, we always strive to maintain two key virtues:
- Transparency: We want customers to be able to know how we price. We use a formula to determine pricing for every Audience project, and we are open to provide the details of each element in our pricing structure.
- Fairness: We try to match the costs we incur and value we create to the way we price our offering. And we strive to make sure that no customer pays more than another for the same product.
Since we reward every respondent who completes an Audience survey, we have to consider our costs in our pricing model. But we also want to make sure that those costs align with the value our customers get from our product.
Not surprisingly, the challenge involved in delivering our product and the value that our customers gain from SurveyMonkey Audience are tightly correlated. The harder it is for us to deliver our product, the more valuable it is for our customers.
We mentioned ‘challenge’. What kinds of challenges do we face with an Audience project that makes it more or less costly for us to deliver? How should customers think about the value we provide and how does that affect project pricing?
The main components in our pricing model come in four parts:
1) Survey Length: We charge based on the number of questions in a survey, which is directly correlated to the amount of time required for a respondent to complete a survey. The longer the survey, the more people will drop out. The more “supply” that is “wasted”, the more chances there are for errors in survey design and increased risk of quality control issues like satisficing (and don’t worry, that’s not a typo). Since length is the most important variable in our pricing, it makes short surveys very inexpensive since they incur minimal operational expense.
2) Targeting: The harder your targeted Audience is to find (i.e., moms who are vegetarians who have smartphones but don’t own tablets, etc.) the more work we have to do to find them. Certain groups are also more difficult to reach and may have higher or lower survey invitation “open and complete” rates. So we charge more for attributes that we believe customers find more valuable.
3) Incidence: While we can often use our targeting to narrow down respondent groups and increase the “effective incidence”, screening out respondents is still often required. In our business model, we still provide rewards to respondents whether they’re screened out or complete a full survey. We do this because it has shown positive effects to member engagement and data quality. We also work with other data providers who use variable reward amounts based on the number of questions answered.
So while we don’t charge the same amount that we charge for a fully completed response when respondents are screened out of a survey, we still charge a fee to support our costs. This cost is factored into our “per complete” price.
4) Complexity: When customers require complex rules, restrictions or quotas that our automated tools may not support without manual intervention, it requires more work from our team, and creates more possibilities for errors. While we seek to avoid manual processes, some are required for certain projects to ensure we can help our customers make better decisions using our products. When highly custom requirements are required for a project, we charge additional fees based on the extent of the complexity.
Our pricing model and our self-service tool (which can be found within your existing SurveyMonkey account) have done a few key things:
- Decreased prices significantly for customers who typically run shorter surveys
- Increased prices for customers who have longer surveys
- Helped educate customers on how the length of time required to complete a survey can have real data integrity issues (and cost more to complete)
There you have it, survey fans–our comprehensive approach to pricing for SurveyMonkey Audience!
Stay tuned for more–we’ll take you through some of the interesting facts about survey length, which have helped us formulate our pricing models. If you want to know whether you need more survey responses, check out our sample size calculator.
Questions? Let us know in the Comments section below or you can contact us at email@example.com.
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