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September 11, 2015

SurveyMonkey bolsters board with Meg Whitman

HP CEO joins former employee Bill Veghte, CEO SurveyMonkey.

By James Nunns

Meg Whitman, CEO of HP is joining the board of SurveyMonkey.

Whitman joins former head of Hewlett-Packard’s enterprise business group and now CEO of the online survey company, Bill Veghte.

The unicorn start-up, which was valued at $2 billion in December, 2014, also has Sheryl Sandberg, COO, Facebook.

The company has additionally released a report which reveals that only a quarter of businesses admit that all data attained from customers is useful.

This suggests that there is a significant misallocation of effort and resources which is likely to impact business. This is highlighted in the findings that 45% of businesses are spending more than 10% of their total marketing budget on getting customer feedback.

It also impacts customers’ willingness to share feedback, with 30% deciding not to respond to polling due to the belief that their responses won’t be addressed or acknowledged.

These findings come from the Live Happiness Report that also found that 35% of businesses find the biggest challenge with using data is actually obtaining clear and actionable insights from it.

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Mansoor Malik, MD UK, SurveyMonkey, said: "Tracking the information that’s most relevant to the happiness of your customers is the most important thing in the age of big data.

"If business leaders really want to get to a point of being able to track customer happiness in real time, they need to be focused with their research and understand, using smart technology and insights, what data points are really going to make a difference to operations, products or services."

The report also found that 49% make cost the most important factor when deciding to stay in a hotel, this number lowers to 36% when taking a flight. Despite this, only 35% of businesses survey on pricing and value for money.

Most UK consumers (77%) will give feedback regardless of their satisfaction with a service and 31% give feedback to help inform other customers.

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