INSTANT MBA: Create A User-Friendly Product For A Viral Effect

Business Insider

Today's advice comes from David Goldberg, CEO and founder of SurveyMonkey via All Things D: 

"We actually have a ton of competitors. We track about 70 direct competitors and about 400 indirect competitors. But we are much bigger than all of them because it turns out there is a network effect to our business." 

Goldberg runs SurveyMonkey, the dominant online survey company, which allows users to create, publish and send surveys to a network, then receive feedback and analytics based on the results.

And every time a survey is sent out, a network of people taking the survey become familiar with the company.

Goldberg said by trying to make his site as easy to use as possible, he gained more users and expanded marketing.

"So it's very hard for anyone to come in now and try to build a product in our space because they can do what we do but they can't get the viral effects of that traffic so we get almost 40 million completed responses a month right now."

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