Despite being just two years old, UK market research company Maru Group has been embarking on an impressive global push.
It has snapped up companies under its platform to help it disrupt the market research sector since getting backing from private equity firm Primary Capital Partners.
Here, directors Ged Parton and Rob Berger explain why the company decided to buy Latin American market research panel Tu Cuentas.
What were the strategic reasons for acquiring Tú Cuentas?
Ged Parton: The provision of Hispanic insights is a key market for Maru and one in which the Group already has strong capabilities. In November 2017 Maru/Matchbox announced a partnership with NBCUniversal Telemundo Enterprises to create the largest combined Hispanic insights community of its kind in the U.S., combining MiTelemundo™, Telemundo’s online insight community comprised of mostly Spanish-dominant Hispanics, with Maru’s own Springboard America panel of English-dominant Hispanics. In May 2018 we announced Maru’s expansion into Latin America through the opening of our new hub in Buenos Aires. The acquisition of Tú Cuentas is the latest strategic development from the Group to consolidate and enhance Maru’s insight capabilities within this space.
How does Tú Cuentas fit into the wider narrative of what Maru Group is trying to achieve?
GP: Maru is an incubator of innovation within the sector. Since its foundation in 2016, the Group has acquired several fantastic and very diverse companies with significant growth potential, but rather than merging them into one unit, we have enabled the companies to flourish independently and retain their own individual cultures and identities.
Maru/Blue provides brands with access to high-quality known respondents from market communities across North America and the UK. Tú Cuentas, which has 8,000 registered members in the US, has been brought on board to enhance the individual offering of Maru/Blue within the Group.
What is the market opportunity in Hispanic insights?
The U.S. demographic is evolving. Hispanic Americans is the second largest and fastest growing ethnic group in the U.S.
It is a diverse community with a range of commercially influential voices and opinions that really matter. As such, there is significant opportunity for Maru in providing the Hispanic population with tailored tools that enable them to feedback their perspectives to our clients.
What will be the key things to consider when integrating Tú Cuentas into Maru?
GP: Having acquired a number of excellent companies since Maru’s foundation, we are well versed in managing the process of integration into the Group. For us, the priority should always be maintaining the quality of the service to clients, both during and after an acquisition. The key to ensuring this is building strong relationships with the team being brought on board, as the foundation of any good company is a talented, happy workforce that has the full support of its management.