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BuyerIQ vs SurveyMonkey

What people say vs what people actually do

Last updated: October 2025

The stated preference problem

Survey 200 people. 80% say they'd "definitely buy" at $49/month. Expected: 160 customers. Launch reality: 6 actually paid. That's $294 in revenue, not the $95,000 you projected.

People aren't lying—they're just bad at predicting their own future behavior. Research shows survey respondents overstate purchase intent by 30-40% because hypothetical scenarios don't trigger the same decision-making as real purchases.

Comparison

SurveyMonkeyBuyerIQ
Platform Cost$25-$75/month$39/month
Respondent Cost$1-$10 per response ($100-$1K total)$0 (no respondents needed)
Timeline1-4 weeks per survey30 seconds
Sample Size50-200 (limited by budget)100+ segments
Iteration Speed1-2 weeks per variation30 seconds (5/day)
Accuracy30-40% overstatement bias90% correlation (validated)

When to use each

Use SurveyMonkey for

  • • Post-purchase feedback from customers
  • • Feature prioritization (existing users)
  • • NPS/CSAT satisfaction tracking
  • • Qualitative open-ended questions

Use BuyerIQ for

  • • Pre-launch validation (no customers yet)
  • • Market sizing for investor pitches
  • • Predicting who will actually buy
  • • Fast iteration testing PMF

Revealed preferences beat stated preferences

SurveyMonkey is great for surveying existing customers. But for validating new products, surveys are systematically unreliable. The stated preference problem isn't a bug—it's fundamental to how humans answer hypothetical questions. BuyerIQ predicts revealed preferences based on 9,300 real purchase decisions.

Validate with Revealed Preferences →