2023 Best New Venture: Differentology

Differentology was set up in 2013 as the insight function of a creative agency and in 2017 decided to grow research as a revenue stream, rather than ‘added value’, achieving MRS Company Partner status.

In 2019, Differentology transitioned into a standalone business with revenue growing to equal that of its parent business with less than 1% reliance on parent company clients.

A management buyout then took place in August 2021 to make Differentology independent, with the results leading to revenue growth of 65% to £4.9m in the 23 months afterwards.

Differentology opened a Hong Kong office in 2022 and has increased headcount from 25 to 43, as well as tripling its earnings before interest, taxes, depreciation and amortisation (EBITDA), with forecasts for further double-digit EBITDA growth in 2024.

Proposal conversion was 75% in 2021/22, a nine-percentage point increase on the previous year, and rose to 78% in 2022/23. New clients include Disney+, Royal Mail Group and Harrods.