The iD Factor differs from the other two core divisions in its operations, focusing on providing market research agencies with respondents to surveys. Based on the concept of "fieldwork", this is a fast evolving market, replacing telephone canvassing and one-to-one outdoor survey requests that are relatively laborious and slow. Around 15% of market research is currently carried out online. In the US over half is conducted online and we believe this will be replicated in Europe.
The premise of The iD Factor’s business is straightforward: utilising either owned panel (in the UK) or our partners (over 41 across the globe, with reach to over 4 million panel-lists), we are able to get responses to highly targeted, relatively time consuming surveys, which are then fed back to the booking market research agency for analysis. Revenues are generated with each completed survey, so quality of panel is key to success.
The average survey response time is around 20 minutes. Our panel-lists, now numbering approximately 250,000 in the UK, are fully opted in members who are rewarded for their time. Utilising the Group’s expertise in data segmentation and email marketing, The iD Factor is able to highly target panel-lists, while expertise in data and quality asssurance ensures that the responses to the surveys are accurate and consistent behaviourally.
Synergies were self-evident throughout the year. For example, TMN Media is able to target its email and website members, inviting them to join The iD Factor panels – we see this as a significant advantage, since we will be able to see how members behave across all databases and target them accordingly.
Market research is frequently pan-European, so many projects require The iD Factor to utilise panels in Europe and globally. Currently, 41 partners provide access to the global market, albeit with a lower margin than our owned panels. This offers our clients a one-stop service with the same high quality that we are able to offer in the UK.
