Does anyone have experience using survey vendors in a diligence process?

January 15, 2025

by a searcher from Queens University in San Francisco, CA, USA

Curious to learn / appreciate any introductions to survey vendors that would allow my partner and I to issue a broad based survey (e.g. n=500+) to our Ideal Customer Profiles. Looking at a Canadian business so would need a vendor that is capable of working in that market. More so looking for those who are able to do the outreach / have connectivity to the survey respondent. I can work to build the survey myself but if they offer those services that would also be interesting.

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Reply by a searcher
from Georgia Institute of Technology in Atlanta, GA, USA

We recently solicited proposals from several vendors, and we received solid proposals from GLG, Guidepoint, and NewtonX. Each was eager for our business despite that fact that our target N is smaller than yours. All 3 of those vendors will source the respondents for you, host and administer the survey (pretty much all of them use Qualtrics), and provide you a raw Excel file with the outputs. In all 3 cases, their minimum engagement fee is $5k but yours would probably be a good bit higher given your target N = 500. I can't comment on the quality of their work because we are in a holding pattern with the target acquisition and we want to get closer to LOI stage before committing to the survey.

Reply by a searcher
from Georgia Institute of Technology in Atlanta, GA, USA

We recently solicited proposals from a handful of survey vendors for similar work. We received proposals from GLG, Guidepoint and NewtonX. Both GLG and Guidepoint came in around $5k total cost and NewtonX was about $9k. This includes reviewing/editing our proposed survey questions (15 questions), recruitment of the survey respondents, compensation of the survey respondents, and an Excel output of the survey results. Note that our N = 30 so your cost will be higher than what we were quoted since you are looking for N=500. (The cost is directly proportional to your target N). Hope this helps.

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