26
Feb

Meet the startups in Area 31: Query Day

Escrito el 26 Febrero 2015 por entrepreneurship en emprender

Author: Ramón Olano, Queryday

What is Queryday?query-team-Mallorca

Queryday is a multiplatform survey technology (available on App, Web and Widget) that helps companies to capture the society’s opinion about any imaginable topic in an easy&visual way, real-time and geolocalized

We are also creating a Publishers network based on many media players with millions of segmented users, where we connect their users to brands.

Therefore brands will be able to use the panel to poll their audience.

Which problem are we solving?

  • 1st problem: On one side, companies invest billions in market research and surveys (+40Bn.) , based on traditional methodologies which bring expensive and inaccurate results
  • 2nd problem: Online Media Publishers (news sites, blogs, and magazines) are in a terrible financial situation, and need to increase their revenue urgently.
  • Solution: Why don´t we channel part of the company investment on surveys to publishers as an enhanced revenue format? By building a channel that connects Publishers to companies through our technology, companies can make use of a huge user base to poll their audience at a cheap price, and publishers can engage and monetize their visitors more effectively

Why Publishers should install your Widget?

Publishers will increase their revenues. How?

  • Our widget allows companyies to poll their audience. They will pay the Publisher per vote
  • Publishers will know better their audience, therefore they will be able to optimize their advertising and shopping channel
  • Our widget after voting the survey, transforms into an add with higher conversion rate
  • Increase the traffic, engagement, user interaction, sharing on social networks

Brands who embed our widget in articles and share their poll across social networks have seen 20-30% lifts in traffic compared to articles without polls. Not to mention all the likes, shares, retweets, favorites, and reblogs that create the traffic

How long have you been working on your idea?

We started developing the idea on May 2014.

What is your current stage of development?

We have already launched our app on Android/Ios and we will launch a new web during first week of march.

Who are your competitors?

There are numerous Social Polling players, mainly in the US. The big ones are: Thumb, Blurtopia Voice, Polar (which was acquired by Google last october), and Gopollgo (acquired by Yahoo! last year)

There are also big Survey Players such as Survey Monkey and Toluna. And many new entrants, such as Typeform, Survmetrics and Please.

What differentiates what you’re building from competitors?

Queryday distinguish itself from traditional survey companies by providing reliable, geolocalized, real time results in an entertaining experience.

Our key competitive advantage is the channel we have created between Publishers and Companies. Not just the disruptive technology we have developed, but the smart way we are using it to mutually bennefit from it

Regarding the social network platform, we have developed a sophisticated algorithm with over 20 variables to rank the questions that our community posts. Moreover, we use a question indexation that enables us to present to each user the best matching question at every moment based on his/her interests, friends, geoposition..etc, thus making the user experience more engaging and entertaining.

What kind of Milestones you have achieved ?

  • In just 5 months we have reached 20.000 users from over 50 countries.
  • Our platform has 250.000 votes and over 6.000 questions.
  • We have an app rate of 4,5 stars.
  • We have been selected to participate on Conector Accelerator and we have had media coverage on top newspapers and TVs

How do you make money?

We have 3 ways:

  • Web: Companies could create surveys through our web, for data collection, analytics and all kind of market research
  • Publishers Platform: we will provide the Publisher´s massive pool of respondents to companies, so they could poll their audience doing any kind of targeting (charging companies €1 per respondent)
  • Big Data: sell our data for market research purposes and to improve the media advertising channel.
    In fact, one of our goals is to increase the ARPU of Publishers. How? We will analyze all the big data gathered from the Publisher´s users to optimize their adds/banners.

What kinds of investors does the company have?

To date, most of the project has been self-financed by the founders. We have also received an ENISA loan of €50.000.

What is your investment Plan?

We are looking to raise €300k (€200 equity +100 public funding) for 12 months runway, solidify the team, develop the B2B and analytics platform and to do a marketing push to take us to the next milestone.

What advice would you like to give to potential entrepreneurs?

  1. Don´t start a project if the idea is difficult to monetize or the market is very small
  2. Make an effort of finding the best team possible
  3. Follow the methodology of lean startup
  4. Be ready to pivot

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