Weathering a market downturn is often a transformational business experience. In conversation with Deloitte Board Member Cees de Boer and Deloitte Partner Daan Witteveen, Han de Groot, the CEO and Founder of MetrixLab, looks back at the lessons he has learned from recessionary times.
Deloitte partner Daan Witteveen, Cees de Boer, CFO/COO of Deloitte, and Han de Groot, CEO of MetrixLab
A decade of rapid growth has made MetrixLab, the Rotterdam-based global online market research specialist, one of the 10 largest online market research specialists in the world. The company is a successful player in the ranks of the Deloitte Technology Fast50 programme, which recognises technology companies that have achieved the fastest rates of annual revenue growth in the EMEA regions in the past five years.
The company's relationship with Deloitte dates back to its humble beginnings in 1999 and has branched out into a range of areas. Today Deloitte is the company's auditor and tax advisor. "We started our cooperation back in the early days when we were trying to attract funding. Deloitte helped us raise capital, introduced us to investors and provided legal assistance," says MetrixLab CEO and Founder Han de Groot. "As our business has grown, the relationship with Deloitte has flourished too and they've assisted us with a wide range of services."
Our early involvement with MetrixLab and the way our relationship has developed is a showcase of how Deloitte supports promising and fast-growing companies, not only on the job but also via the Technology Fast50 programme, says Witteveen, who is responsible for the programme in the Netherlands.
Speaking from the MetrixLab's riverside headquarters in Rotterdam, De Groot likens the current market environment to the dotcom crash of 2001, which happened soon after he launched the business. "We grew rapidly at first but suddenly half of our customers went out of business - it was quite dramatic," he recalls. "We had to quickly diversify and create online research techniques that were applicable to marketing and advertising in the physical world too. That strategic decision ultimately made us the business we are today."
De Groot believes financial rigour and an unrelenting focus on the bottom line helped see the businesses through those tough times. "The current recession hasn't severely impacted our business as much as the dotcom crash because research budgets are less volatile than marketing budgets overall," he explains, "but some of the discipline we learned from Deloitte that helped us navigate the turmoil has continued to this day."
"MetrixLab learned a lot early on about navigating through turbulent times," says De Boer. "As a result, it has laid down solid foundations for future growth in terms of cash management, structure and flexibility in the business model. Their resilience in this market is testimony to this."
For De Groot, the ranking year after year in Deloitte's prestigious Technology Fast50 Programme is a hard-won acknowledgement of his team's efforts. "Fast50 is a significant milestone for us." he says. "What's also been great is that it's been extremely useful for building up our business network as well."
About MetrixLab
Since its foundation in 1999, MetrixLab has grown to be one of the 10 largest online market research specialists in the world. From its offices in Rotterdam, London, Paris, Hamburg and Madrid, MetrixLab conducts online research in more than 44 countries worldwide. Clients include 52 of the top 100 global brands, such as Microsoft, Philips, Unilever, Google, Siemens and PepsiCo.
MetrixLab's core solutions focus on four areas of expertise: media and advertising research, new product development and innovation research, e-business performance research, and satisfaction and loyalty research. The Company's strategic goal is to be recognised as the 'online research thought leader' by delivering high-quality information and profound customer insights that help clients improve marketing return on investment.