YouGov
Researching the Markets with YouGov
Launched in the United Kingdom in May of 2000, YouGov is an internet-based global marketing research firm under the British Polling Council. It was founded by Stephan Shakespeare who is now its Chief Innovation Officer and Nadhim Jahawi who is its Chief Executive Officer. Since 2007, YouGov has had Roger Parry as its Chairman, replacing Peter Kellner who now acts as its President and owns 6% of the company after floating ₤18 million in 2005. YouGov’s many research clients include such media giants as Sky News, The Sunday Times, The Economist and the Daily Telegraph, to mention some.
Conducting Market Polls
YouGov uses the internet extensively in its research work. With virtually no staffing needed in field research, YouGov enjoys a cost advantage over face-to-face or even phone call researches. Its research methodology involves inviting internet users to participate in its poll as may be commissioned by third parties. It now has a panel of nearly 250,000 respondents in the UK alone. Their responses online are collated and filtered according to demographics.
Its research panel members invited among internet users are given 50p for every online survey form they complete. These surveys are offered to them typically on a frequency of 2-4 monthly. The token gratuity goes up to ₤2 per survey depending on the complexity of the questionnaire form. A check is mailed to them when the amount accumulates to ₤50. Moreover, YouGov conducts a monthly draw among its survey participants where members can be entitled to prize. Occasional special prize surveys are also conducted.
A Profitable Business
YouGov’s profitability can be gleaned from its annual revenues that rose by more than 50% for its fiscal year August 2006 to July 2007 at 14.3 million. Its pre-tax net incomes rose to 39% in the same period at 5.7 million. Not bad at all. An average of 40% profit margin makes it among the highest when compared to the usual 10% to 30% that its competitors are making.
