Launched in January, ITWP's Toluna became a founding member of the Insights on Demand Consortium alongside brands such as Procter & Gamble, L’Oréal, Nestlé, Nature’s Way and agency and research partners like W20, AKQA, Simmons Research and Harris Interactive.
The group has been comprised of individuals and companies from all industries that are committed to evolving, refining, and promoting the principles of Insights on Demand (IoD). Since its launch, the collective has also added on Clorox, Heineken, Mindshare, Porter Novelli, Henkel, and Abbott.
Holly Rozelle, director of marketing capabilities for IoD founding member Nature's Way, said in January: "It's a well-known fact that organizations committed to being insight-driven report far higher levels of consumer engagement and market growth than their laggard counterparts." She added, "In the last year we've been able to create and push Nature's Way to become an insights driven organization. However, we're also cognizant that in order to stay competitive, there's great collective value in meeting with industry leaders to bounce ideas and discuss opportunities. I'm excited that the Insights on Demand Consortium will be able to deliver on that."
Toluna also recently announced year-over-year double-digit revenue growth, driven by an over 40% revenue growth from its on-demand, automated consumer insights platform. Parent company ITWP also acquired Chinese research firm KuRunData , boosting Toluna's global panel size to 21+ million consumers, a 40% increase.
“Our growth and momentum is foremost a testament to the success of our clients,” said Frédéric Charles Petit, Toluna’s chief executive officer. “These milestones are something the entire team should be extremely proud of and underscore our commitment to powering the real-time insights that businesses need to compete and win in an on-demand economy.”
Frédéric credited the company's momentum to its end-to-end automated platform, which has been integrated with Toluna’s community of respondents to deliver real-time insights. Using the Toluna platform, clients have integrated on-demand access to sample, surveys, communities, and analytics at various service levels.
Users have been able to access the platform directly in a "do-it-yourself" service level, leverage Toluna’s managed services, or create their own fully-customized digital consumer insights programs via engineered services.
Frédéric added: “The vision I had for a democratized market research industry was the driving force behind insights on demand and this consortium. The reception and interest from top global brands and digital agencies so far has been incredible, and we’re looking forward to our first official member meeting where we will begin to formally move these ideas forward in a constructive and collaborative way."