Meet the Founders: SurveyMind
SurveyMind, a finalist for the TCF Market Research Innovation Awards was founded in Spring 2022, by two researchers and friends Alex & Ranulph. Let’s meet the founders and discover more about their mission.
For our readers who might be unfamiliar with SurveyMind, can you provide a brief overview of what your platform does and the problem it aims to solve?
SurveyMind is a transcription and analysis platform designed specifically for qualitative research. As we all know, the journey from chatting to customers to deriving insights can be arduous. With SurveyMind, you can start to extract insights from your recordings in mere minutes. At the moment, the research-tech market is saturated with large, expensive and overly complex platforms. SurveyMind is tailored for ad-hoc research projects and offers a nimble, cost-effective, and user-friendly solution.
What inspired the both of you to come together and create SurveyMind? Was there a particular moment or experience that sparked the idea?
When we first discussed the idea of SurveyMind, it was rooted in a very real and pressing challenge that I [Alex] had as a researcher for the UK government. I was working on a large qualitative research project that had received hundreds of responses. As I sifted through the thousands of pages, the sheer volume and intricacy of the task became increasingly evident.
The project took weeks to analyse, and I kept thinking to myself "there must be a better way to do this." The idea wasn't just about speeding up the process, but about harnessing the power of technology to delve deeper into the data, to uncover patterns and insights that I might have missed.
Given Ranulph’s past experience in educational research, we both recognised the potential for a tool that could revolutionise the way qualitative research was approached. We envisioned a platform that would not only alleviate the manual labour involved but would also enhance the quality and depth of analysis.
Being co-founders, how do you divide roles and responsibilities between yourselves? And how has this dynamic evolved?
Ranulph takes the lead on technology and product development. Every feature, every update, and every tweak in the platform is a result of countless hours spent understanding user needs and translating them into tangible tech solutions.
On the other hand, Alex is the driving force behind the commercial arm of SurveyMind. As we have grown, these lines have become more blurred as we are both constantly talking to customers seeking feedback on what comes next, which then feeds into a product development roadmap.
Every startup has its ups and downs. Can you share one significant challenge you've overcome together and a triumph that you're particularly proud of?
An immediate challenge has been the accelerated rise of AI, with so many AI businesses popping up every week making it increasingly difficult to differentiate oneself and truly stand out. For SurveyMind, this meant not only ensuring our technology was top-notch but also effectively communicating our unique value proposition to researchers in a sea of similar-sounding offerings.
There have been moments of immense pride and validation. One such moment was when we landed the University of California as a client. For a small business based in London, landing such a prestigious institution based near Silicon Valley was a significant boost for the team. It was a clear indication that our efforts were bearing fruit.
Where do you see SurveyMind in the next five years? Are there any new features or innovations you're particularly excited about?
In the next five years, we aim for SurveyMind to be the go-to solution for any qualitative research project. We want SurveyMind to be synonymous with high quality qualitative research, where researchers, whether they're novices or seasoned professionals, instantly think of SurveyMind.
There's one upcoming feature we're particularly thrilled about launching shortly. We're introducing a feature that will allow users to analyse multiple transcripts simultaneously. This will enable researchers to easily compare and contrast key themes, patterns, and insights across different interviews. Not only does this save time, but it also provides a depth of analysis that was previously challenging to achieve. By identifying overarching themes and patterns across various transcripts, researchers can gain a more holistic understanding of their data.
Beyond the business aspect, what personal motivations or passions drive you in this venture?
SurveyMind isn't just a business venture for Ranulph and me; it's deeply personal. We've known each other since school, and our bond has been tested and strengthened over the years. In 2019, the loss of one of our closest friends reshaped our perspective. He lived with intensity and purpose, and his passing ignited a fire in us.
With SurveyMind, we're channelling that drive and are on a mission to leave a mark.
Looking back, is there something you wish you'd known when you started SurveyMind?
I think we significantly underestimated the length of some of the sales cycles of research firms. When we launched, we were optimistic about how quickly we could close deals and onboard clients. However, the reality of navigating through the intricacies of client needs and decision-making processes has taught us patience and resilience.
In hindsight, having a more accurate understanding of this aspect from the outset would have better informed our strategies and expectations.
In an ever-evolving tech landscape, how does SurveyMind stay ahead of the curve in terms of features and offerings?
Given the pace of change at the moment, it is near impossible to stay ahead. Therefore, we have tried to future-proof SurveyMind as much as possible by focusing on simplicity of use and clarity of purpose. We could add hundreds of new features every day, but by focusing on our purpose, we are able to build a platform that helps rather than hinders researchers.
Founding and running a startup is notoriously demanding. How do both of you manage work-life balance, and how do you ensure your team does as well?
Both of us, Ranulph and Alex, have had our fair share of experiences in previous roles where the demands of the job led to burnout. We've learned the hard way that without clear boundaries, work can consume every waking hour. We now set specific times when we disconnect entirely from work, ensuring we have time to recharge and engage in activities we love outside of SurveyMind.
To that end, recognising the early signs of burnout and stress has been crucial. We've made it a point to regularly check in with ourselves and each other, ensuring we're mentally and emotionally well.
As a team, we hope to foster a culture where everyone feels comfortable discussing their challenges. This open line of communication ensures that if someone is feeling overwhelmed, they have the support and understanding of the entire team.
For companies or individuals on the fence about using SurveyMind, what would you say is the single most compelling reason they should choose your platform?
Recently, we assisted a client in slashing their associated costs by a staggering 98%. In an industry where costs can quickly escalate, the potential for such significant savings is transformative. Whilst, at the same time we remain a committed and friendly team dedicated to helping you find insights faster.
Finally, we are offering a 50% discount on all plans (including Enterprise) for newsletter readers with the discount code TCF2023 so now is the opportune moment to try it out. Alternatively, if you would like to learn more, please do drop us an email or book a demo.