BrainJuicer grows revenue 42% in 2008
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UK-- Online research agency BrainJuicer increased its revenue by 42% last year to £9.3m, and said its strongest growth came from its most “innovative” products.
It also increased its operating margin slightly from 12.9% to 13.8%.
With new offices opened in Germany and Canada since the end of 2008, the firm says it now has a presence in countries representing more than half of the world's market research revenue.
The firm is now hoping its product offering will remain attractive amid the global recession. Chief executive John Kearon said: “The recession is causing clients to be cautious with their budgets but is also providing opportunities for innovative online agencies like ours, as clients challenge their existing suppliers.”
He told Research: “When you're under pressure the first reaction is to retreat to what you know. When that doesn't work you need to contemplate something more risky.”
When it comes to winning major global contracts, Kearon said BrainJuicer aims to offer “innovation plus credibility” – providing something that others don't, with the ability to deliver it on a global scale.
The agency is looking to follow the success of its Predictive Markets product, which puts into practice the ‘wisdom of crowds' concept, with new services based on the idea that respondents are poor at predicting their own behaviour, but surprisingly good at predicting that of those around them.
Author: Robert Bain
Related links:
BrainJuicer enters Germany and Canada
Profit up in first half at BrainJuicer
