Survey Revenue Model
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Shaan Puri shares insights about a potential business model centered around surveying high-level decision-makers and selling the aggregated insights to companies. He believes there's significant value in providing industry-specific survey data to help companies make informed decisions.
Key Points:
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High-Value Survey Model:
- Survey key decision makers (like CIOs in Fortune 500)
- Companies will pay premium prices for access to these insights
- Similar to GLG's expert network model, but with aggregated data
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Value Proposition:
- Companies need data for making multi-million dollar decisions
- Willing to pay thousands for research that helps inform big bets
- Survey results from peer companies are particularly valuable
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Monetization Approaches:
- Charge thousands of dollars for reports
- Could incentivize survey participants with payment/rewards
- Bundle with broader media offerings
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Implementation Strategies:
- Partner with existing industry newsletters
- Build dedicated survey pools of 1,000-10,000 people
- Create regular reporting cadence
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Business Model Comparison:
- Similar to GLG (expert network) where people pay $2,000 for 1-hour calls
- But focused on aggregate data rather than individual expertise
- More scalable than one-on-one expert calls
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Target Audience:
- Enterprise companies making large investments
- Decision makers needing peer insights
- Industries where large financial commitments are made months/years in advance
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.