Business Idea

Start An Online Survey Tool

About

Starting an online survey tool requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell online survey, or selling online survey online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start an online survey tool ➜

Key stats

market size
$917M
revenue (monthly)
$534K
starting costs
$37.4K
gross margin
26%
avg product price
$500
time to build
9 months
growth
SEO
business model
Media Business & Subscriptions
time investment
Side project

About

Starting an online survey tool requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell online survey, or selling online survey online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start an online survey tool ➜

Key stats

market size
$917M
revenue (monthly)
$534K
starting costs
$37.4K
gross margin
26%
avg product price
$500

 

time to build
9 months
growth
SEO
business model
Media Business & Subscriptions
time investment
Side project

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $35 $3,250
Employee & Freelancer Expenses $0 $5,500
Equipment & Supply Expenses $500 $5,000
Website Costs $232 $6,500
Business Formation Fees $5,600 $20,400
App Creation Costs $1,000 $20,000
Software Expenses $150 $3,044
Advertising & Marketing Costs $0 $2,750
Other Expenses $0 $800
Total Startup Costs $7,517 $67,244

Successful Businesses

Business URL Rank
Qualtrics XM qualtrics.com #532
Doodle doodle.com #2,369
QuestionPro questionpro.com #6,736
Dynata dynata.com #7,599
Alchemer alchemer.com #16,704
iNaturalist inaturalist.org #25,420
Glint glintinc.com #35,990
Survicate survicate.com #43,486
SoGoSurvey sogosurvey.com #53,546
Opinion OutPost opinionoutpost.com #56,971
Snap Surveys snapsurveys.com #77,730

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Traffic to your website A online survey tool gives people a reason to visit your website and to keep coming back to you!
Meaningful business connections You never know who you will meet or get to work with for your online survey tool. This could be the start of an incredible business opportunity!
High customer retention rates Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your online survey tool becomes an integral piece of their every day lives.
Predictable income stream With a online survey tool, your income stream is typically predictable based on the number of customers you have signed up. This makes financial planning and outlooks much more seamless!
Cons Description
Security Issues With any Saas business, data loss and security issues may arise throughout your process of building your product. It's critical that you understand exactly what you're responsible for and how to avoid potential issues down the road.
Low margins The gross margins for your online survey tool are typically around 26%, which can make it more challenging to incur new expenses and maintain profitability.
Taxes As a online survey tool, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.
Time commitment With starting a online survey tool, all responsibilities and duties will be in your hands. Although this is not necessarily a negative thing, it's important to understand that your work-life balance may be a bit unbalanced at times. This can place a strain on friends and family and add to the pressure of launching a new business.
Complex development process. The development process for a online survey tool can be quite complex, which may cause delays and challenges when launching and growing your product.
Complex maintenance Your online survey tool will require a long-term investment due to the need for updates, bug fixes, and security vulnerabilities. It's important that you (or someone on your team) stays on top of this at all times.

Marketing Ideas

  • 1

    Word of mouth

    The most tried and true way to grow a online survey tool is through word of mouth - some entrepreneurs would say it's more important than all social media.

  • 2

    Advertising on social media

    Social media advertising is one of the leading ways to get the word out when it comes to online survey tool.

    There are various different Social Media platforms available to you. Some may be more critical for your marketing efforts than others, however, it's important to have an understanding of what's out there and available to you.

    Learn more about advertising on social media ➜

  • 3

    Pay Per Click Advertising

    Pay-per-click (PPC) is a performance-based marketing method that allows you to show specific ads for services or products oriented to a very defined target, with the goal that the user visits your website or landing page.