BrainJuicer Wins Award at ESOMAR

September 2005 

BrainJuicer® Awarded Best Methodology Prize at ESOMAR Congress - An international jury awarded John Kearon, BrainJuicer® CEO, the accolade of Best Methodological Paper at the 2005 ESOMAR Congress in Cannes, France.

"The ground-breaking paper, “A fresh approach to concept testing. How to get more research for less time and money,” details a BrainJuicer® experiment applying academic thinking on ‘research markets’ and the ‘wisdom of crowds’ to concept testing.

The early indications of BrainJuicer®’s alternative methodology turn conventional MR logic on its head suggesting that a diverse, random group can predict success as well as a targeted sample. Hence, it is possible to test more concepts with more consumers in less time and at less cost but without compromising quality.

The experiment was inspired by the theories of James Surowiecki’s best-selling US book ‘The Wisdom of Crowds’ – a publication that argues that we should ‘stop hunting the expert and ask the crowd instead.’

Kearon is keen to conduct similar experiments to further test the theory. The comparisons thus far suggest that the ‘research markets’ approach produces a clearer result than a monadic test. The former exposes the best ideas with more clarity and is more punishing on the weaker ones. The award for BrainJuicer®’s research methodology follows hard on the heels of other accolades – the company was awarded Service Business of the Year in 2004 and John Kearon is currently Entrepreneur of the Year.

ENDS

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About BrainJuicer

BrainJuicer carries out quantitative online research using innovative, bespoke software to produce insightful market research for large, multinational companies, including 10 of the world's top 50 companies (FT 500 September 2006).

BrainJuicer operates in a growing sector of the US$23bn global research market, namely quantitative online research. BrainJuicer's main competitors are large traditional market research providers who have dominated the market for off-line market research, such as AC Nielsen, Millward Brown, Research International and Taylor Nelson Sofres.

Whilst the largest traditional research companies have developed their own online capability, BrainJuicer has a number of key attributes which have contributed to it achieving rapid growth and winning contracts with prestigious clients, including:

  A SCALEABLE ONLINE-ONLY BUSINESS MODEL. UNLIKE THE TRADITIONAL RESEARCH companies who maintain both on and offline data collection capabilities, BrainJuicer is able to focus on operating a scaleable online-only business model.

  RESEARCH PLATFORM THAT DELIVERS GREATER DIAGNOSTIC INSIGHT. BRAINJUICER HAS developed tools and award-winning techniques that enable it to provide a greater level of diagnostic insight into quantitative market research. These techniques enable clients to enhance their understanding of consumer preference and help them make decisions on the best way to develop their products and services.

  SPEED. BRAINJUICER'S AUTOMATED RESEARCH TECHNIQUES ENABLE IT TO CONDUCT complicated studies very quickly. BrainJuicer's rapid deployment and results production, even on multi-country studies, provide clients with a speed to market advantage in the development of new products and services.

To date the Group has conducted projects in over 50 countries and more than 30 languages and has established offices in the UK, the Netherlands and the US.

The Group's revenues come from full service market research work, and from its online Juicy Brains Panel in the UK.