SurveyMonkey is using Zuora to support their shift focus from B2C to B2B — and drive B2B revenue growth.
SurveyMonkey is the world’s number one survey platform, providing web-based survey solutions for over 20 Million consumers and businesses including their core self-service B2C business, and their fast growing Enterprise and Audience B2B businesses.
Since its start in 1999, SurveyMonkey’s bread and butter has historically been its self-service business which they ran through a homegrown billing system. But in the last four years, their sales assisted business (including both their homegrown and their acquired product lines) had become its fastest growing segment, driving the company’s revenue growth.
As they acquired companies, scaled their B2B business units, and rolled out new products, they found themselves in serious pain, using multiple quoting and billing systems for their variety of B2B products. Different sales teams were required to sell different products, and there was no way to efficiently cross-sell across their stack.
In order to drive B2B revenue growth, they needed to achieve operational scale and merge their sales processes. They needed to have one set of systems that could handle one time charges, subscriptions, usage, and pre-pays. They needed one Quoting-Billing-Revenue flow. They needed their entire sales team to be able to sell across their whole B2B product stack. They needed higher deal velocity and less time with deals stuck in deal desk and in QA. They needed to be able to integrate acquisitions effectively, and they needed to be able to roll out new products and pricing models quickly. In short: they needed Zuora!
SurveyMonkey chose Zuora to help:
- Roll out new products and pricing models quickly
- Create a single quoting – billing – revenue flow
- Drive revenue growth by enabling cross and upsell opportunities
Here are just some of the things that Zuora is helping SurveyMonkey with:
- Pricing. SurveyMonkey sells one-time (for single audience products) and recurring products (for Enterprise businesses to continually create and manage their own surveys). Including different product lines (through acquisition), SurveyMonkey offers a variety of payment terms from quarterly to three-yearly. All charges are taxable, so SurveyMonkey uses Zuora’s tax platform to tax globally from the EU to Japan.
- Acquiring New Customers. Prior to Zuora, Enterprise and Audience orders followed different processes and used different systems. Now all products can be sold together in a single quote. Zuora supports discounts, pre-paid, and draw-downs.
- Collecting Payments. SurveyMonkey leverages Zuora to allow their customers to pay invoices by credit card, check, ACH, and wire transfer payments.
- Nurturing Customers. SurveyMonkey uses amendments to increase quantity, add and remove products, and cancellations. With Zuora breaking down silos within the organization, sales can now cross and upsell SurveyMonkey products to drive revenue growth.
- Accounting. Zuora syncs with SurveyMonkey’s other systems to help manage accounting, financial reporting, and revenue recognition.
- Measuring Their Business. Zuora reports are used to give SurveyMonkey a list of all invoice items and invoice item adjustments that have been created in Zuora so they can determine how much can be recognized each accounting period. There is a report for deferred revenue and a recognized revenue report which shows all items that were fulfilled during the account period.
SurveyMonkey has managed to thrive for 16+ years because they are always creating new products and changing the products they sell. With the Zuora platform taking care of the quote-to-cash process, SurveyMonkeys talented team of engineers are free to focus on their core product and development — not on billing!
Successful companies like SurveyMonkey turn to Zuora when they need to eliminate the pain points and inefficiencies that come with scaling.
Learn more about how to reach millions of people with your surveys with SurveyMonkey.
Call 1.800.425.1281 to learn more about how Zuora can help your business.