YouGov PLC (YOU) 2020年年度報告「AIM」.pdf

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1、A platform for growthYouGov Annual Report&Accounts 2020Strategic reportAbout YouGov 0Summary of Financial Results 1At a Glance 2Understanding the YouGov Platform 4Our Client Value Proposition 6Chairs Statement 8Chief Executive Officers Review 10Markets14Our Strategic Pillars 16Strategy in Action 18O

2、ur Strategic Priorities 24Key Performance Indicators 26Business Model 28Operational Review 30Section 172 Statement 38Our Stakeholders 40Environmental,Social and Governance 44Chief Financial Officers Review 54Principal Risks and Uncertainties 60Governance reportChairs Introduction and Corporate Gover

3、nance Statement 64Board of Directors 66Corporate Governance Report 68Nomination Committee Report 73Audit&Risk Committee Report 74Directors Remuneration Report 77Directors Report 92Directors Responsibilities Statement 95Financial statementsIndependent Auditors Report to the Members of YouGov plc 96Co

4、nsolidated Income Statement 102Consolidated Statement of Comprehensive Income 103Consolidated Statement of Financial Position 104Consolidated Statement of Changes in Equity 105Consolidated Statement of Cash Flows 106Principal Accounting Policies of the Consolidated Financial Statements 107Notes to t

5、he Consolidated Financial Statements121Group Five-Year Financial Summary 146Parent Company Statement of Financial Position 147Parent Company Statement of Changes in Equity 148Parent Company Statement of Cash Flows 149Notes to the Parent Company Financial Statements 150Additional informationNotice of

6、 Annual General Meeting 166Other Information 172About YouGovYouGov is an international research data and analytics group.Our data-led offering supports and improves a widespectrum of marketing activities of a customer-base including media owners,brands and media agencies.We work with some of the wor

7、lds most recognised brands.Our ground-breaking syndicated data solutions include the daily brand perception tracker,YouGov BrandIndex,and the media planning and segmentation tool,YouGov Profiles.Our market-leading YouGov Realtime service provides a fast and cost-effective solution for reaching natio

8、nally representative and specialist samples.YouGovs Custom Research division offers a wide range of quantitative and qualitative research,tailored by sector specialist teams to meet clients specific requirements.As the pioneer of online market research,we have a strong record for data accuracy and i

9、nnovation.Astudy by the Pew Research Center concluded that YouGov“consistently outperforms competitors on accuracy”as a vendor of choice.We are the market research pioneer of Multi-level Regression with Post-stratification(“MRP”)for accurate predictions ata granular level.YouGov data is regularly re

10、ferenced by the press worldwide and we are the most quoted market research source in the UK.With a proprietary panel of over 11 million registered members globally and operations in the UK,Americas,Mainland Europe,Middle East,India and Asia Pacific,YouGov has one of the worlds largest research netwo

11、rks.For information on our products and services,see For corporate and investor relations information,Financial and operational highlights Revenue growth of 12%(2019:17%).Underlying business2 growth of 13%Adjusted operating profit1 up by18%to 21.8m(2019:18.5m).Underlying business2 growth of 14%Adjus

12、ted profit before tax1 up by 25%to 25.7m(2019:20.6m)Adjusted earnings per share1 up by 21%to 18.1p(2019:15.0p)Adjusted operating profit margin1 rises to 14.3%(2019:13.5%)Statutory operating profit down 24%to 15.2m(2019:20.0m)due to separately reported items charge of 6.6m Strong operating cash gener

13、ation of 38.7m enabling us to continue investing in the business Net cash balances of 35.3m(31 July 2019:37.9m)Proposed dividend increase of 25%to 5p per share(2019:4p)Strong performance in the key markets of the UK and US Significant and increased investment of 7.9m(2019:4.8m)in building the techno

14、logy platform for future growth Number of registered panellists up 37%to over 11 million through broadening geographic footprint No employees have been furloughed during the pandemic with no other Government support needed The Groups strategic and financial position remains strong and resilient and

15、has not seen a material impact of COVID-19 on its financial performance to date Continued progress in the development and roll-out of YouGov Direct,a blockchain-based audience insights platform,with positive initial feedback from clientsSummary of Financial ResultsRevenue m 152.4+12%2019:136.53Adjus

16、ted profit before tax1 m25.7+25%2019:20.63Statutory profit before tax m15.2-22%2019:19.43Adjusted earnings per share1 pence18.1p+21%2019:15.0p3Revenue per head142k2019:142k3Operating cash generation m38.7+1%pt2019:38.43Adjusted operating profit margin1%14.3%+80bps2019:13.5%3Adjusted operating profit

17、1 m21.8+18%2019:18.53Statutory operating profit m15.2-24%2019:20.03Statutory basic earnings per share pence9.0p-36%pts2019:14.1p3Staff costs as a%of revenue50%+2%pts2019:48%31 Defined in the explanation of non-IFRS measures on page 59.2 Defined as growth in business excluding impact of current and p

18、rior period acquisitions and business closures,and movement in exchange rates.3 Prior year comparatives have been restated on the adoption of IFRS 16.Strategic report Governance report Financial statements Additional informationYouGov Annual Report&Accounts 20201Our missionOur mission is to supply a

19、 continuous stream of accurate data and insight into what the world thinks,so that companies,governments and institutions can better serve the people and communities that sustain them.Our visionOur vision is for YouGov to be the worlds leading provider of marketing and opiniondata.We want YouGov dat

20、a to be a valued public resource used by hundreds of millions of people on a daily basis,enabling intelligent decision-making and informed conversations.Underpinned by our commitment to ESGAt a GlancePublic dataSee page 46People and cultureSee page 49Governance frameworkSee page 51Risk managementSee

21、 page 60EnvironmentSee page 53YouGov is an international research and data analytics groupOur valuesWe are driven by a set of shared values.We are fast,fearless and innovative.We work diligently to get it right.We are guided by accuracy,ethics and proven methodologies.We trust each other and bring t

22、hese values into everything that we do.Be fastThings are constantly changing and as a company we know we are in constant competition.We must always be fast to adapt,and fast to deliver.Be fearlessWe are brave and believe we can do anything.Weve proven we can.We innovate,take savvy risks,dont follow

23、the crowd.Be yourself.Get it rightWe are judged on our ethics,our methodology,and our accuracy we will do the right thing as scientists,as technologists,and as citizens.Trust each otherWe have a mission,astrategy,and a plan for implementation.We work together in trust challenging,pushing,improving e

24、ach other to fulfil our ambition.YouGov Annual Report&Accounts 20202Our reachYouGov has one of the worlds largest research networksYouGov Global Partnerships ProgrammeThe YouGov Global Partnerships Programme offers affiliate partner research agencies access to YouGovs platforms,expertise and(where r

25、equired)panel,while establishing the YouGov brand and data products in the local market.YouGov has partnerships in place with agencies in Egypt,Greece,Japan,Pakistan,Philippines,Poland,Russia,South Africa,UAE and Vietnam.UK 33%employees3officesKey YouGov proprietary panel YouGov Partnerships Program

26、me panelsEmployees worldwide+1,100Offices worldwide37Mainland Europe23%employees12officesAsia Pacific9%employees8officesAmericas21%employees8officesMENA&India14%employees6officesClients worldwide+3,300Panellists worldwide+11mStrategic report Governance report Financial statements Additional informat

27、ionYouGov Annual Report&Accounts 20203Why clients buy from usOur client value propositionOur divisionsOur strategic pillarsWhat clients buy from usHow we grow our businessBest panelOur proprietary global panel of over 11 million registered members across more than 40 markets provide us with thousand

28、s of data points on consumer attitudes,opinions and behaviour onadaily basis.Data ProductsThis division comprises our syndicated data products,which are available to clients on a subscription basis.It includes our YouGov Plan&Track solution to help marketers plan and execute their campaign strategy

29、and track its success.Our strategic prioritiesData IntegrationRead case study see page 18Productdevelopmentand technologyPanelUnderstanding the YouGov PlatformYouGov Annual Report&Accounts 20204Public DataRead case study see page 20Ethical ActivationRead case study see page 22Best dataThe YouGov Cub

30、e is a unique single-source connected-data library that holds over ten years of longitudinal data.We leverage this data using our research expertise,including our application of Multilevel Regression with Post-stratification(“MRP”)methodology,to make accurate predictions at a granular level.Data Ser

31、vicesThis division comprises our YouGov RealTime(YouGov Omnibus outside the UK and US)service which provides clients a fast-turnaround and cost-effective solution for reaching nationally representative and specialist samples.Best toolsWe maximise the value of our connected data through the applicati

32、on of leading-edge analytics technology and strong research expertise.YouGov Crunch is the most advanced analytics tool for research data,combining super-fast processing with drag-and-drop simplicity.Custom ResearchThis division offers a wide range of quantitative and qualitative research,including

33、substantial global trackers,that is tailored by sector specialist teams to meet clients specific requirements.Client value proposition seepage 6Operational review see page 30Our strategic pillars see page 16GlobalinfrastructureGlobalaccountsAcquisitionsStrategic report Governance report Financial st

34、atements Additional informationYouGov Annual Report&Accounts 20205Our Client Value PropositionWhy clients buy from usOur 11 million registered panellists form the foundation of our business and ensuring they have a rewarding panel experience is the key to our success.They supply us with a continuous

35、 stream of attitudinal,opinion and behavioural data via various platforms,which we connect using our powerful analytics technology and sophisticated research methodologies to deliver a best-in-class dataset to our clients.This ensures that our clients receive accurate and actionable data and insight

36、s that can be used across the marketing workflow,from planning to developing and evaluating their marketing and communication activities.The quality of our data means we are seen as a trusted resource and regularly referenced by media outlets worldwide.Best PanelBest DataBest ToolsCreating One Platf

37、orm augmented by new product additions Combined with YouGov Chat,YouGov Direct and YouGov Signal,we become a universal platform that activates both YouGov and client dataOur panellistsWe aim to build and retain panels that are nationally representative to ensure the accuracy of our data.We acquire p

38、anellists in many different ways including via social media ads,via stories in the press and through a panellist referral scheme.Panellists get paid for time spent completing surveys using YouGov points,which can be redeemed for cash once they reach a predetermined level.Since we are highly quoted i

39、n mainstream media,our panellists enjoy a sense that their opinions are valued,that they are shaping agendas and part of the public debate.Our clientsOur clients are key players in the advertising and marketing ecosystem including brand owners,media and advertising agencies,public relations firms an

40、d media owners.They use our data products,tools and research services to manage their entire marketing workflow,from strategy and planning,brand tracking and media planning to campaign effectiveness and audience profiling.The interoperability and connectedness of our products and services serves as

41、a strong differentiator and we continue to work towards bringing the entire YouGov offering onto a universal platform,while enriching its capability and increasing theuse cases of our offerings.Continual investment in our business and high visibility in mainstream mediaOur client value propositionYo

42、uGov Annual Report&Accounts 20206Our investment case1Successful track record of scaling the business and delivering profitable growth2Unparalleled depth and breadth of connected data increasingly being valued by clients 3Resilient,largely digital,business model resulting in significant operating lev

43、erage4Culture of innovation ensures our offering is constantly evolving to meet client needs5Increasing focus on account management and global expansion todrive next phase of growth6Growing syndicated data products business providing strong margin expansion potential7Developing from a supplier of da

44、ta products and services into a true platform that includes activation8Strong financial performance and solid balance sheet provides platform to deliver on growth ambitions9Highly motivated leadership team with a clear goal of enhancing shareholder valueSurvey responses are captured in our unique co

45、nnected-data library and analysed using best-in-class analytics toolsStrategic report Governance report Financial statements Additional informationYouGov Annual Report&Accounts 20207Chairs StatementAn encouraging start to the next phase of YouGovs growth2015/162016/172017/182018/192019/20Annual divi

46、dend per share1.4p 2.0p 3.0p 4.0p 5.0p Roger Parry CBE ChairYouGov is an international data and analytics group.We provide our clients with the data and insights to help them plan,develop and evaluate the impact of their marketing and communication activities.We now employ over 1,100 people worldwid

47、e,operating from 37 offices across 24 countries and serving clients in more than 40 national markets.We operate a proprietary,high quality global panel of over 11million registered members who share their data with us in ways thatare fully compliant with data protection,privacy and security laws.The

48、 scale and duration of the COVID-19 pandemic is presenting a huge social and economic challenge.Against this backdrop in the second half of our financial year,I am pleased to report to shareholders that YouGov was able to meet the Boards expectations and deliver strong financial performance in the y

49、ear to 31 July 2020.We took rapid and agile action to ensure the safety and wellbeing of our employees.We have done extensive research on behalf of governments to understand peoples reaction to COVID-19 and we have made much of this information available free ofcharge as a public service.Results and

50、 dividendGroup revenues were up 12%in reported terms to 152.4m(13%up on underlying1 business)while adjusted operating profit2 increased by 18%on the prior financial year to 21.8m.These results reflect an encouraging start to the nextphase of YouGovs growth.YouGov has a progressive dividend policy an

51、d in line with this the Board is pleased to recommend a dividend increase of 25%to 5.0p a share payable on 14 December 2020 to shareholders on the register as at 4 December 2020.OutlookThe social and economic problems caused by the pandemic are far from over but,in terms of our financial performance

52、,YouGov has started the new financial year well and trading is in line with the Boards expectations.With a very strong balance sheet and evidence of growing demand for our products,weremain confident of meeting our long-term targets.Strategic direction The YouGov client base now spans a wide range o

53、f commercial and governmental clients in most of the worlds major markets.We provide our clients with insights to enable them to carry out their work more effectively.We do this by delivering research and proprietary software tools which interpret and display the data gathered from our proprietary g

54、lobal panel of over 11 million registered members.Increasingly,our clients engage with us on a subscription basis which allows them to enjoy a highly flexible and tailored real-time service.YouGov Annual Report&Accounts 20208Our strategy is to seek long-term contractual relationships and to become a

55、 crucial part of our clients business processes to enable them to plan their use of resources and to monitor the results of their activity.Long-term growth plans andincentivesThe financial year to 31 July 2020 was the first full year of our current long-term strategic growth plan(“FYP2”).The financi

56、al results for the year to 31 July 2019 set the base line for the Board approved targets for the FYP2 period(which runs from 1 August 2019 to 31 July 2023)to double Group revenue,double adjusted operating profit margin2,and achieve compound annual adjusted earnings per share2(“EPS”)growth in excess

57、of 30%.These stretching FYP2 targets underpin the current long-term incentive plan(“LTIP 2019”),which was approved by the Board in 2019 following a thorough design process supported by remuneration experts at Aon and in consultation with the Companys major shareholders.The Board believes the LTIP 20

58、19 design produces close alignment between shareholder and management interests,with full vesting of the LTIP 2019 requiring compound annual adjusted EPS2 growth of 35%by 2023.The Companys previous long-term growth plan,FYP1,delivered compound annual adjusted EPS2 growth in excess of 25%over 2014-19

59、,resulting in the full pay-out of the LTIP 2014 awards in November 2019.Clearly the COVID-19 crisis creates considerable uncertainty but based on the experience of trading in the second half of the last financial year(1 February to 31 July 2020)the Board believes the YouGov business model is well pl

60、aced to provide value to our clients and therefore that the targets of FYP2 remain reasonable and achievable.Board compositionThe Board consists of three Executive Directors and four Independent Non-Executives.All appointments have been made following external advice.The Directors have a wide range

61、of commercial expertise,and we believe the Board has the right balance of skills and experience to provide robust oversight and develop a well-informed strategy.While there are no immediate plans to make changes to the Board composition,we have a detailed succession planning process in place.20 year

62、s of growthYouGov celebrates its 20th anniversary in 2020.It is two decades since Stephan Shakespeare and Nadhim Zahawi founded the Company as a pioneer of the then ground-breaking use of the 1 Defined as growth in business excluding impact of current and prior period acquisitions and business closu

63、res,and movement in exchange rates.2 Defined in the explanation of non-IFRS measures on page 59.internet to do market research.Since that time,many other players have come to use the internet for data collection,but we believe we have maintained our pioneering lead in terms of data analytics methodo

64、logy and technology,and the duration of a proprietary global panel which is fully compliant with data privacy and security legislation.YouGov has thrived by having the right products and through constant innovation.But the strategy only works because it is executed well by YouGovs management and wid

65、er workforce.This past year has been immensely challenging for our employees and on behalf of the Board I would like to thank the YouGov team for their flexibility,commitment and hard work.Roger Parry CBEChair15 October 2020YouGov Annual Report&Accounts 20209Chief Executive Officers ReviewStrong gro

66、wth in line with our strategic growth planStephan ShakespeareChief Executive OfficerYouGov Annual Report&Accounts 202010The dynamics within the data analytics and market research industry are constantly evolving as increasing digitalisation,the use of artificial intelligence to gather data and scrut

67、iny on privacy and transparency are opening up opportunities beyond traditional use cases.Furthermore,the COVID-19 pandemic presented a unique challenge for traditional research players,hampering their ability to conduct day-to-day operations and deliver on client projects.The qualities of YouGovs d

68、igital business model came to the fore during this crisis as we were able to quickly adapt and remain relevant to our clients with our suite of COVID-19 products.Execution against our strategy to drive future growthData IntegrationStrategic focus:Fully integrating custom research and client service

69、with our data products and tools to create new value from existing data and open up new revenue streams through customisation Progress made against this pillar during the year:productised YouGov Cube-aligned custom trackers(e.g.customer satisfaction,Net Promoter Score(“NPS”)diagnostics,reputation,pr

70、oduct usage and attitude)through collaboration between the Custom Research andData Products divisions;added new sector-specific data to the YouGov Cube to enable efficient connected-data custom trackers;commenced restructuring of the client support function from separate teams for each division to a

71、 single client service flow;further developed the YouGov Crunch dashboard tools to include added functionality;launched self-service functions within YouGov Direct with a view to combining it with the YouGov Collaborate dashboard;and continued investment in integration of websites,apps,interfaces an

72、d dashboards.Read more on page 18We continue to grow strongly with 12%revenue growth and 18%increase in adjusted operating profit1.This has been achieved despite undergoing anoperational shift to a new client management model,as anticipated in our strategic plan,and the expected closing of our Kurdi

73、stan operations,as well as headwinds from the COVID-19 pandemic in the second half of our financial year.We were able to mitigate some of the early impacts of the pandemic by rapidly developing and delivering the global YouGov COVID-19 Tracker that engaged existing and new clients.The ability of our

74、 business model,to drive innovations quickly in response to market changes,gives us confidence that we will continue to outperform our competitors as demonstrated by our above market growth in 2019(ESOMAR estimates that the market research industry grew3.9%in 20192).Based on our performance,our conf

75、idence in the outlook for the business and our ability to fund growth without the need for government COVID-19 support funding,we are comfortable with continuing our progressive annual dividend policy and recommending a dividend of 5.0 pence per share for the year ended 31 July 2020.The key factors

76、driving our continued strong growth are:robust performance of our two main geographies,the US and the UK,where we continue to focus our efforts and investments;full integration of YouGov Sport,which is expanding our client coverage beyond traditional sports products and contributing to sales perform

77、ance;and panel growth in line with client demand as global Cube-aligned trackers become an increasingly important part of our offering.We are beginning to appeal to a wider market as innovations in technology,such as YouGov Chat,self-service and ethical activation through YouGov Direct,broaden our o

78、ffering to an activation platform with capabilities beyond market research.Strategic direction Current long-term strategic growth plan 2019-23(FYP2)Our ambition is to be seen as the worlds leading provider and innovator in data-led marketing and research.The cornerstone of this ambition is having th

79、e worlds largest and most engaged panel,allowing us to be the leading supplier of proprietary panel data,used by every public-facing organisation and by hundreds of millions of people as a public information resource.Over time,we would like to extend our offer to an end-to-end platform that goes bey

80、ond supplying research data and analytics,all the way through to ethical large-scale activation using that data.The year to 31 July 2020 was the first year in our current long-term growth plan and execution has been in line with our expectations set out in the plan.As previously announced,the ambiti

81、ous long-term incentive plan(“LTIP”)performance targets to incentivise Senior Management through to 2023 are:double Group revenue;double Group adjusted operating profit margin1;and achieve an adjusted earnings per share1 compound annual growth rate in excess of 30%.As previously disclosed,we have de

82、signated the first half of the long-term growth plan as the investment phase.In this phase we are continuing to invest in our panels,technologies,platforms,support functions and markets to enable us to scale further and make the most of the opportunities we see in our markets.To take this performanc

83、e to the next level,we are continuing to focus on three strategic pillars:Data Integration,Ethical Activation and Public Data.Strategic report Governance report Financial statements Additional informationYouGov Annual Report&Accounts 202011Chief Executive Officers Review continuedEthical ActivationS

84、trategic focus:Enabling marketing activation on our platform with a focus on personal data protection and self-service researchProgress made against this pillar during the year:launched an early release version of YouGov Direct to a small number of clients,including blue-chip companies;developed a f

85、ully functioning end-to-end self-service platform with dual capabilities,research and an advertising network;launched the platform in the US,UKand Canada,with further planned launches in Singapore and Australia before the end of the year;and established a rapidly growing,engaged member base allowing

86、 clients to receive same-day survey results.Read more on page 22Public DataStrategic focus:Expanding YouGov Public Data as a public service,for brand reputation,panel engagement and showcasing our dataProgress made against this pillar during the year:expanded YouGov Ratings into new categories,such

87、as Influencers and Movies,and developed new categories of data,such as political and social topics,primarily intended for public value;launched YouGov America,a website focussed on the US Presidential Election and a hub for polls being run in conjunction with major US media outlets;developed and lau

88、nched the YouGov COVID-19 Behaviour Tracker developed in partnership with Imperial College London to benefit public health and academic institutions globally;and released a beta version of the YouGov Screen publicly to allow visitors to view snippets of our data.Read more on page 20Focus on operatio

89、nsAs a platform,both in the technological sense and the business-model sense,we aim to be more efficient,smarter,faster,and 24/7.During the year,we expanded the geographic coverage of our shared service centres(called Centres of Excellence or CenX)and transformed their role from traditional client s

90、upport to an always-on help desk for our syndicated products and self-service platform,with the ability to launch custom surveys at any time.In addition to this we have kicked off our new global key account management programme in the US and UK to become more client-centric and expand our role in th

91、eir marketing efforts.We have continued to expand the geographic range of panels to Austria,Brazil,Switzerland and Turkey and to further develop our panels in other geographies in the year,driven in part byclient demand.Read more on page 30COVID-19 responseThe COVID-19 pandemic has caused severe dis

92、ruption globally and impacted all our stakeholder groups to varying degrees.We took widespread measures to support these stakeholders while minimising the impact on our business.We evaluated payment delay and cancellation requests from clients on a case-by-case basis and supported them where possibl

93、e.We moved our entire global workforce to working remotely at the start of the global lockdown in March 2020 and did not furlough any employees.As offices have reopened in some cities,we have taken extensive measures to ensure the safety of our employees and phased our return-to-office plans to ensu

94、re a smooth and safe transition.The majority of our staff continue to operate seamlessly from home and we are continuing to support individual circumstances as the situation evolves inour various markets.The YouGov management team would like to thank all our employees for supporting our clients and

95、the business through these uncertain times and we look forward to celebrating our 20th anniversary with everyone in the coming year.Read more on page 5018%Adjusted operating profit1 growth12%Revenue growthYouGov Annual Report&Accounts 202012Environmental,social and governanceOur commitment to ESG is

96、 core to what we do.We operate lawfully and ethically in all areas of ESG relevant to our business,from how we collect data from panellists,and how we engage and develop our workforce,to the design of our research and how we service our clients.Our environmental footprint is minimal given our digita

97、l business model,and we generally have limited business travel.However,we are keen on conducting accurate reporting and finding ways to reduce our environmental impact where we can.We are also committed to having a positive impact on society,by keeping our employees engaged and giving them opportuni

98、ties to grow with the business.An example of this has been supporting our employees with the setting up of an internal Diversity&Inclusion Task Force,as a way to give a voice to our workforce around how to make YouGov more diverse and inclusive,across everything that we do.This Task Force has conduc

99、ted a Company-wide survey and run a set of focus groups with employees to canvas the opinions of our staff in order to identify a set of actions that will help us make YouGov even more diverse and inclusive for all our stakeholders.Governance also has a key role in our strategic plan.It allows us to

100、 safeguard all the valuable data that we collect from panellists daily,through the governance frameworks that we have in place.We take our position as custodian of our panellists data very seriously.We believe YouGov Direct is an example of good governance in the field of ethical activation,fully in

101、 line with the EU General Data Protection Regulation(“GDPR”)and other data privacy and national security laws.We are fully dedicated to adopting appropriate social ethics and the way to achieve that is to ensure governance frameworks and processes are in place and are regularly reviewed and updated

102、to remain relevant.Read more on page 44Current trading and outlook Trading continues to be in line with the Boards expectations for the current financial year.Despite economic uncertainty over the past six months,performance across the Group continues to be resilient,delivering growth in both revenu

103、e and profit for the full year.While we have not seen any material impact from the COVID-19 pandemic thus far,we recognise that marketing budgets may come under pressure if the current situation prolongs.As such,we are closely monitoring the situation and ensuring that we remain relevant to our clie

104、nts through our advanced data,analytics and technological capabilities.We have maintained our strong balance sheet position which will allow us to continue to fund our FYP2 strategic growth plan through sufficient cash reserves.We thank all our panellists,partners and clients,and employees,for their

105、 ongoing contribution and commitment to YouGovs ongoing success in these challenging times.Stephan ShakespeareChief Executive Officer15 October 20201 Defined in the explanation of non-IFRS measures on page 59.2 According to the ESOMAR Global Market Research Report published in September 2020,global

106、research market turnover grew by 3.9%in 2019(adjusted for inflation).Despite economic uncertainty over the past six months,performance across theGroup continues tobe resilient,deliveringgrowth in both revenue and profitfor the full year.UK 30%Americas 41%Mainland Europe 15%Middle East 6%Asia Pacific

107、 8%Data Products 33%Data Services 25%Custom Research 42%152.4m2019/20 revenue15%5-year revenue CAGRStrategic report Governance report Financial statements Additional informationYouGov Annual Report&Accounts 202013Markets The ability of our business model todrive innovations quickly in response to ma

108、rket changes gives us confidence that we will continue to outperform our competitors as demonstrated by our above market growth inthe reporting year.Stephan ShakespeareChief Executive OfficerYouGov operates in the Global Market Research industry which includes the data,research,tech-enabled insights

109、 and data analytics sub-sectors.The industry was valued at$90bn1 by ESOMAR in 2019,with the US and Europe accounting for nearly 80%of the overall value.The growth of the industry has been moderate over the last couple of years due to political and economic uncertainty and as larger,more traditional

110、players slowly adapt to ongoing technological changes.YouGov,an online research pioneer,is differentiated from other companies due to its focus on a high-quality online panel,advanced analytic systems,and integrated research products that reflect the changing needs of the market.Structural trendArti

111、ficial intelligenceCOVID-19 disruptionPrivacy and transparencyTechnology and digitalisationYouGov Annual Report&Accounts 202014How YouGov is responding Artificial intelligence is playing an increasing role in data analytics and market research and its use cases are likely to evolve as time goes on.I

112、ndustry players are under growing pressure to rapidly generate valuable insights from complex datasets.Additionally,companies are finding innovative ways to automate the process of survey and questionnaire design and data collection,through chatbots,surveybots and complex machine learning.As an onli

113、ne business,YouGov is in a unique position to adapt to technological advances in market research.Our acquisition of InConversation Media(“InConvo”),which combines chatbot technology with editorial flair,is one such example.We have integrated YouGov Chat(based on InConvos technology)into some of our

114、products,such as YouGov Direct,as well as into Public Data initiatives,such as our US Presidential Election website,to drive interaction with the public.Additionally,our social media-listening tool,YouGov Signal,aggregates digital and social data in an automated way to identify the key emotions,driv

115、ers and responses used for a brand,sector or custom group of entities.The qualities of YouGovs digital business model came to the fore during this crisis as we were able to quickly adapt to working from home and continued to roll out new products and capture market sentiment digitally during this un

116、certain time.Our clients need for data did not diminish during this period and we increased our relevance through our COVID-19 product suite,opening up new revenue streams.YouGov has a direct relationship with its panellists,who choose which opportunities they want to participate in,so they have con

117、trol over the data YouGov collects on them.Increases in privacy controls from global tech organisations such as Apple and Google,and greater regulation(e.g.GDPR and CCPA2),present an opportunity for YouGov Direct.YouGov Direct provides a direct route to market for advertisers to contact consumers us

118、ing precise targeting data that has been granularly permissioned and those consumers are rewarded foruseoftheir data.YouGov completed its plan to move away from traditional,project-based,market research to a subscription-based syndicated data model with supplementary data analysis services as part o

119、f its first five-year plan(“FYP1”).We have continued to invest in technology to expand our self-service offering to clients,while working towards integrating the entire YouGov product suite onto a universal platform.The COVID-19 pandemic has had a profound impact on the industry asmarketing budgets

120、have shrunk and the ability to conduct more traditional forms of research,such as face-to-face interviews,has been significantly hampered.Consumers ofmarket research are scrutinising their budgets to identify costs that deliver the highest ROI and are embracing digital solutions.Data protection prac

121、tices and ethics have been under focus in market research from a compliance and regulatory perspective.Individuals are increasingly wary of sharing personal data with businesses and are demanding greater transparency and more granular control over how their data isbeing used by organisations.Technol

122、ogical innovation and tools have been disrupting the data analytics and market research industries and enabling expansion into new disciplines.Adoption varies by country as some embrace change while others continue to rely on traditional research methods.Markets that are open to technological advanc

123、es have seen a rise in consolidation as a way of accelerating automation in data collection and analytics.How it is impacting the market 1 According to the ESOMAR Global Market Research Report published in September 2020.The industry definition reflected in the report includes both the legacy tradit

124、ional sector and the newer tech-enabled sector.2 The EU General Data Protection Regulation(“GDPR”)and the California Consumer Privacy Act(“CCPA”).Strategic report Governance report Financial statements Additional informationYouGov Annual Report&Accounts 202015 Connecting datasets in our vast data li

125、brary to increase ways in which our data can be used Customisation for clients to make our data offerings more relevant to them Making the data we collect from the public available to the public in meaningful ways Enabling online advertisers to use our data and platform to create large-scale targeta

126、ble audiences and deliver marketing to them in a highly permissioned,GDPR-compliant mannerOur Strategic PillarsStrategic pillarWhat it meansThe success of our vision is underpinned by our three strategic pillars.Our ambition is to create a universal platform for the ethical and safe sharing of opini

127、ons and personal data so that we can offer our clients connected data,new analytical tools and innovative applications including activation(use of data in designing,targeting,delivering and monitoring success in large-scale marketing campaigns).The success of this vision is underpinned by three stra

128、tegic pillars,which guide our initiatives and business decisions.Data IntegrationPublicDataEthical ActivationYouGov Annual Report&Accounts 202016 Generates additional value from existing data Opens up new revenue streams for Custom Research using syndicated data Continued investment in integration o

129、f our websites,apps,products,tools,interfaces and dashboards Further development of YouGov Crunch Launch of brand and NPS trackers,such as YouGov Recommend+,using connected research data systems Strategy in actionUsing YouGov Recommend+See page 18Multiple new connected data products launched organic

130、ally Increases brand reputation and awareness Drives panel and client engagement Showcases the breadth and accuracy of our data Launch of YouGov Screen Launch of the YouGov America website,including broad coverage of the upcoming US Presidential Election Rapid development and launch of the YouGov CO

131、VID-19 Public Tracker Strategic partnership with Imperial College London in developing the YouGov COVID-19 Behaviour Tracker Strategy in actionUsing YouGov COVID-19 TrackerSee page 2017%YOY growth in media mentions globally 800,000+YouGov America site visits sinceJune 2020 launch 300+YouGov COVID-19

132、 Monitor clients Gives citizens control of their data Results in greater ROI for marketers as demonstrated by increased click-through rate and conversions Launch of an early release version of YouGov Direct in the US,UK and Canada Established a rapidly growing,engaged member base Strategy in action

133、Using YouGov DirectSee page 2250+clients trialling the YouGov Direct platform40k+YouGov Direct member base How it adds value2019/20 progressStrategy in actionMeasure ofsuccessStrategic report Governance report Financial statements Additional informationYouGov Annual Report&Accounts 202017Strategy in

134、 ActionData IntegrationThe challengeNet Promoter Score1 is a well-known methodology designed to gauge a customers loyalty towards a brand or company.It has been widely adopted by companies worldwide to determine the strength of their relationship with their clients.While NPS is popular among corpora

135、te management teams,it is limited in its ability to predict future customer loyalty and how companies can drive NPS higher.A YouGov client wanted to track NPS in a standardised way across several regions in which it operates and to understand what drives and influences NPS,using custom sampling and

136、questions.Our approachOur Custom Research team worked closely with the client to understand their needs and determine the best way to approach their requirements,while providing highly valuable insights into customer behaviour.We quickly recognised that while custom sampling and surveys were necessa

137、ry to deliver the project successfully,the bespoke data could be analysed in a more meaningful way if it could be connected back to the data-rich YouGov Cube.Since we run YouGov BrandIndex surveys daily in most markets,we have a good insight into a brands current customer base.We developed a brand-s

138、pecific,templated survey that we can put to the clients customer base,using our YouGov Re-Contact service,to capture NPS as well as emotional and conviction-based drivers that influence NPS.This combined the benefits of a syndicated tracker with bespoke NPS research requirements.The outcomeYouGov de

139、veloped a new product,YouGov Recommend+,that links responses from commissioned NPS brand health studies to the rich pre-existing information about more rational drivers behind brand relationships on BrandIndex.The result is a highly cost-effective NPS diagnostics approach to give marketers the full

140、picture on what drives consumer advocacy.Marketing professionals can evaluate the importance of factors such as brand image,brand values,emotion and consumer personality in determining whether someone is likely to recommend a brand or not.Additionally,given the linkage to the Cube,clients can choose

141、 to further enhance their understanding of their customer base using our Profiles product offering.Recommend+Gauging brand loyalty and harnessing valuable insights into drivers of consumer advocacyThe study illustrated here was conducted by YouGov to understand the key drivers of NPS for two competi

142、ng supermarket chains with different market positionings.The results show that while both brands are well loved by current customers,the NPS for the premium supermarket chain is driven by a customers affection towards the brand,whereas the value supermarket chain is less reliant on that affection to

143、 gain promoters.On the other hand,while both brands are trusted by consumers to a similar degree,the value chain needs to have a greater focus on maintaining that trust to drive NPS further.The study was conducted in October 2019 with asample size of 630 respondents in the UK.18YouGov Annual Report&

144、Accounts 20201 The NPS was developed by Fred Reichheld and is a registered trademark of Bain&Company and Satmetrix.“Its a brand I love”Performance Score(Scale 1 5)“Its a brand I love”Importance in driving NPS(Scale 0 1)Premium Supermarket Brand#1 Value Supermarket Brand#1 Premium Supermarket Brand#1

145、 Value Supermarket Brand#1“I believe what this brand tells me”Performance Score(Scale 1 5)“I believe what this brand tells me”Importance in driving NPS(Scale 0 1)Strategic report Governance report Financial statements Additional information19YouGov Annual Report&Accounts 2020Strategy in ActionThe ch

146、allengeAs the COVID-19 pandemic emerged and economies started to go into lockdown,there was a significant shift in consumer behaviour,opinions on Government performance and impact on livelihood.It became increasingly difficult to understand consumer sentiment and historical data was no longer reliab

147、le as the severity of the situation had unprecedented and wide-ranging consequences on daily lives.Organisations needed real-time data to manage their operations and responses in a rapidly changing environment.Our approachAs a global public opinion organisation,YouGov is privileged to have so many p

148、eople around the world share their views and behaviours with us every day.As soon as COVID-19 emerged in the Asia Pacific region,our local teams started asking panellists to share their experiences about the situation.This allowed us to quickly replicate the research approach around the world as the

149、 virus spread globally.When the crisis was officially declared a global pandemic,our teams used the wealth of information that had already been gathered to turn these opinions into powerful datasets that could be used by governments,public health organisations,media agencies and brands to help them

150、best navigate the pandemic and the evolving consequences of it.The outcomeYouGov developed three COVID-19 data products:1.YouGov COVID-19 Public Tracker Covering 27 countries and including responses from over 400,000 surveys.The tracker,available publicly on our website,looks at the impact of COVID-

151、19 on a broad range of topics such as fear,behaviours,support for and compliance with Government measures,impact on personal finances and job security.2.YouGov COVID-19 Economic Recovery and Consumer Monitor Covering three key countries with a consistent approach to allow for internal comparison and

152、 benchmarking.It is a paid-for product that goes beyond our public data,offering greater depth around three key areas:governmental approval,employment and changing habits.3.YouGov COVID-19 Behaviour Tracker Covering 29 countries with more than 20,000 people interviewed each week.It was designed in p

153、artnership with Imperial College London to gather global insights on peoples behaviours in response to COVID-19.Anonymised respondent level datasets were made readily available for download on GitHub.to benefit public health and academic institutions globally.Providing data for public value to help

154、assess the impact of COVID-19Public Data%of people who say they are“very worried”or“fairly worried”that their childrens education will suffer as a result of the COVID-19 outbreakUSUKSwedenMexicoSingaporeIndia28%19%15%51%32%53%YouGov Annual Report&Accounts 202020This survey was conducted between 1 9

155、June 2020 with a sample size of 1,000 2,000 people in the above-mentioned countries.%of people who think their countrys Government is handling the issue of COVID-19“very well”or“fairly well”%of people who say their households financial situation has“worsened”compared to one month agoUSUKSwedenMexico

156、SingaporeIndia23%21%17%61%39%46%USUKSwedenMexicoSingaporeIndia41%39%51%36%81%73%Strategic report Governance report Financial statements Additional informationYouGov Annual Report&Accounts 202021DirectTargeted activation and empowering members control over their dataStrategy in ActionEthical Activati

157、onThe challengeThe EU General Data Protection Regulation(“GDPR”),which came into effect in May 2018,is designed to give people in the EU more control over their personal data.The GDPR requires organisations handling personal data to be transparent about their collection and use of data,protect it fr

158、om misuse and exploitation,and give people control over how their data is used.It also puts the onus on organisations to protect the privacy of their customers and employees by building privacy safeguards into products and services.The GDPR is the most comprehensive privacy regulation the world has

159、ever seen,and required organisations to make,in some cases,considerable adaptions in order to comply;this was particularly true for the market research,media and technology industries which rely heavily on the handling of personal data as part of their business models.Since the implementation of GDP

160、R,a number of countries have followed suit with the implementation of new or upgraded privacy legislation,for example the California Consumer Privacy Act(“CCPA”).The CCPA was signed into effect in January 2020 to enhance privacy rights and consumer protection for residents of California,US.Our appro

161、achRather than view GDPR as a compliance burden,YouGov saw increased privacy regulation as an opportunity to create a new type of data marketplace that:improves understanding of audiences and ad targeting for brands and media agencies and turns advertising into a two-way conversation;empowers member

162、s with greater control of their data and creates the opportunity for them to obtain fair value from its use;and enables transformation of the digital marketing world by tackling some of the key challenges within the existing ecosystem fraud and transparency.The outcomeYouGov Direct is a fully opted-

163、in and completely transparent audience insights platform supported by precise profiling data.It is a blockchain-based platform and advertising network that empowers members to choose which attributes they make available to marketers and advertisers,while earning rewards,and allows advertisers to pin

164、point the audience they need.Through YouGov Direct,organisations are able to get the results they need in minutes,from testing creatives to evaluating campaign performance.Blockchain technology allowed us to create an audit trail of verifiable transactions between advertiser and member.It breaks the

165、 traditional boundaries between research and marketing as advertisements can now be linked to actual business outcomes.It also allows members to sell their data to our clients so that companies can better serve and communicate with them.YouGov Annual Report&Accounts 202022Insight informed decision-m

166、aking2,000responsesin 9minutesA major UK automotive manufacturer has baked ad testing into its marketing workflow by using YouGov Direct to test television ads prior to launch.Between June 2019 and March 2020,the client ran ad tests on YouGov Direct ahead of three major campaigns,providing them with

167、 fast-turnaround insights within hours on effectiveness,key message take-out and creative direction.Ads were targeted to YouGov Direct users based on the current customer segments and likely future prospects.One such ad test yielded the following results.Strategic report Governance report Financial

168、statements Additional informationYouGov Annual Report&Accounts 202023Our strategic priorities2019/20 progress YouGov Sport(previously SMG Insight)delivered strong performance despite COVID-19 impact on sports sector Integrated Inconvos chatbot technology into YouGov Direct Integrated YouGov Signals

169、social and digital sentiment analysis tool with the YouGov Cube Kicked off global key account management programme in the US and UK to focus on cultivating our most significant client accounts for cross-selling and up-selling opportunities Established Centres of Excellence(“CenX”)to streamline opera

170、tional activities Set up of new data processing hub in Bangalore and technology development hub in Toronto Further invested in building and developing our existing panels in Australia,Canada,India,Italy,Mexico,Poland,Spain and Taiwan Continuously monitored make-up and diversity of panel to ensure it

171、 is nationally representative Further developed our proprietary technology,including our analytics software YouGov Crunch Launched new products,such as YouGov Recommend+and YouGov DestinationIndex Launch of YouGov Screen,our free YouGov Audience Explorer tool that helps build a deck-ready portrait o

172、f audiences AcquisitionsGlobal accountsGlobal infrastructurePanelProduct development and technologyBased on our three strategic pillars(Data Integration,Public Data and Ethical Activation),we have identified five key priorities that will be a focus in the near term.Our ability to successfully execut

173、e on these priorities will ultimately determine delivery of management targets set out in our current growth plan(FYP2).Our Strategic PrioritiesYouGov Annual Report&Accounts 202024Double RevenueDouble MarginEPS CAGR 30%Measure ofsuccess2020/21 objectivesOur long-term targets(2019-23)1 SMG Insight ea

174、rn-out ended ahead of schedule as the business exceeded its targets Average response rate of 30%per YouGov Chat Continue to identify bolt-on acquisition targets that increase sector coverage,expand access to panel and advance technological capabilities 25 key client accounts identified in the US and

175、 40 in the UK Identify largest,multi-national clients in EU and Asia Pacific and extend key account management programme to those regions Data operations overheads as a percentage of global revenue down from 4%in 2014/15 to 2%in 2019/20 Build a global presence providing 24/7 client support to increa

176、se appeal of our self-service offering and to support syndicated data customers Number of panellists up 37%year-on-year globally Established panel in four new countries during the year 20%year-on-year growth in on-panel survey completes in 2019/20 Panel expansion underway to include Austria,Brazil,S

177、witzerland and Turkey in response to client demand Increase panellists in under-represented fragments of the population Closely monitor and drive down cost per acquisition in well-established markets Number of YouGov Crunch users up 64%year-on-year Starting to see uptake of YouGov DestinationIndex w

178、ith a healthy sales pipeline Develop the YouGov Screen into a uniquemarketing platform Streamline our websites,apps and dashboards to make it easier for our clients and the public to interact with our data Continue developing and launching new products while increasing availability of existing produ

179、cts,such as YouGov Direct,globally1 For more details on the FYP2 financial targets see page 11.Strategic report Governance report Financial statements Additional informationYouGov Annual Report&Accounts 202025Key Performance Indicators Financial KPIs1Revenue152.4m2019:136.5m DefinitionRevenue is rec

180、ognised in accordance with IFRS 15,to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services PurposeQuantifies revenue generated from our operations to ensure we ar

181、e growing our business ObjectiveDouble Group revenue between 2019 and 2023Adjusted operating profit2 and margin21.8m2019:18.5m DefinitionOperating profit including amortisation of intangible assets charged to operating expenses and excluding separately reported items.Adjusted operating profit margin

182、2 is expressed as a percentage of revenue PurposeMonitors our operating cost levels to ensure we are benefitting from operational leverage as our business grows ObjectiveDouble Group adjusted operating margin2 between 2019 and 2023Adjusted earnings per share218.1p2019:15.0p DefinitionAdjusted profit

183、 after tax attributable to owners of the parent2 divided by the weighted average number of shares PurposeMeasures our ability to generate shareholder returns from our operations ObjectiveAchieve an adjusted EPS2 CAGR in excess of 30%for the period 2019-231 For a five-year summary of financial KPIs r

184、efer to page 146 of the Financial Statements.2 Defined in the explanation of non-IFRS measures on page 59.Revenue(m)2017/182018/192019/20116.6136.5152.4Adjusted earnings per share2(pence)2017/182018/192019/2011.515.018.1Adjusted operatingprofit2(m)2017/182018/192019/2012.718.521.8 Adjusted operating

185、 profit2 margin%10.913.514.3YouGov Annual Report&Accounts 202026Operational KPIsOperating cash generation38.7m2019:38.4m DefinitionProfit before tax adjusted for finance income/costs,non-cash items and change in working capital PurposeIndicates the level of cash generated from the ongoing commercial

186、 activities of the business ObjectiveGenerate sufficient cash from operations to continue to fund our organic growth plans12-month panel retention69%2019:67%DefinitionProportion of panellists who were active 12 months prior to the month cited who are still active in the month cited PurposeMeasures t

187、he health of the panel by quantifying how well we are retaining engaged users ObjectiveMaintain high panel retention to allow us to re-contact panellists and augment our connected dataset over a long period of timeNumber of clients and avg.revenue per client3,344clients2019:3,075 clients DefinitionN

188、umber of clients that provided revenue.Average revenue per client is revenue for the period divided by the number of clients PurposeMonitors ability of our sales team to bring in new clients while continuing to up-sell and cross-sell to existing clients ObjectiveEnsure we are growing our client base

189、 and increasing revenue generated per client12-month panelretention(%)July 2018July 2019July 2020646769Number of clients2017/182018/192019/202,8723,0753,344414446 Average revenue perclient(000s)Operating cashgeneration(m)2017/182018/192019/2023.638.438.7Strategic report Governance report Financial s

190、tatements Additional informationYouGov Annual Report&Accounts 202027Our mission Our mission is to supply a continuous stream of accurate data and insight into what the world thinks,so that companies,governments and institutions can better serve the people and communities that sustain them.Our vision

191、Our vision is for YouGov to be the worlds leading provider of marketing and opinion data.We want YouGov data to be a valued public resource used by hundreds ofmillions of people on a daily basis,enabling intelligent decision-making and informed conversations.Key strengths and inputs Pioneer of onlin

192、e market research Large proprietary panel with strong panellist relationships Unparalleled depth and breadth of connected data Innovative market-leading technology Internet-based approach enabling rapid delivery and resilience Global reach supported by CenX model Continuous reinvestment into busines

193、s Ethical approach,embracing GDPR Respected brand name and strong media presence Talented,driven professionals Strong culture and reputed management team Robust financial positionBest PanelYouGov has one of the worlds largest research networks with a proprietary panel spanning over 40 markets worldw

194、ide,providing us with thousands of data points on consumer attitudes,opinions and behaviour on a daily basis.Best DataPanel data is captured in the YouGov Cube,our unique connected-data library encompassing hundreds of thousands of variables and over a decade of data on our panel members.As the pion

195、eer of online market research,we have a strong track record for data accuracy and innovation.Best ToolsThe value of our connected data is maximised through the application of leading-edge analytics technology and strong research expertise.Our integrated suite of products,services and tools operates

196、as a systematic platform serving YouGov data and intelligence for all stages of the marketing workflow,including ethical activation.What we doWe collect and analyse opinion and behavioural data from our proprietary global panel of 11 million registered members to provide our clients with data and in

197、sights to help them plan,develop and evaluate the impact of their marketing and communication activities.What makes us differentOur internet-based approach is a key differentiator as it allows us to keep panellists engaged for longer,connect longitudinal data in a high-value,structured manner and an

198、alyse it faster and more accurately.Our mission and visionOur business modelUnderpinned by our Company ValuesAs we entered our current phase of growth in 2019,we launched our new Company Values.Our teams are encouraged to demonstrate these valuesin their day-to-day work.Business ModelYouGov Annual R

199、eport&Accounts 202028Be fastBe fearlessGet it rightTrust each otherStrategic prioritiesValue we create for our stakeholders Continue investment in product development and technology to ensure we remain ahead of the market by becoming the new platform for brands to conduct large-scale engagement and

200、ethical activation Further expansion of our proprietary online panel into new geographies to increase multi-national research capabilities Increase efficiency through our CenX model to provide a superior client experience Target key client accounts for cross-sell and up-sell opportunities,initially

201、focusing on large multi-nationals,to integrate our data and tools across their entire marketing workflow Identify and evaluate acquisition opportunities to help build scale and fill technological gaps as necessary Read more see page 24PanellistsRewards for participation in surveys,and having their o

202、pinions shape agendasEmployeesCompetitive remuneration,attractive culture and personal development opportunities CommunityPublic data as a resource for organisations to understand public opinionClientsResearch data and insights that fulfils their business needsSuppliers and partnersMutually benefici

203、al relationships built on shared valuesShareholdersReturn on investment through share price growth and dividendsMediaTopical data and research tosupport editorial teams Read more see page 40Strategic report Governance report Financial statements Additional informationYouGov Annual Report&Accounts 20

204、2029Operational ReviewYouGov has continued to expand its footprint,not only in established markets,but also across new greenfield start-ups which have seen encouraging progress ahead of initial expectations.This success has been underpinned by our CenX approach and philosophy consistent,repeatable,c

205、ost-effective enabling us to drive growth.We are continuing to see efficiency gains across the core business stemming from increased capability and experience in our CenX worldwide.Our new site in Bangalore is also enabling greater opportunity in technology development.The dispersed,always-on nature

206、 of our business meant that we were able to move quickly to fully working remotely,even in the more difficult locations such as India,and absorbed any short-term loss of productivity as we adapted.Our sales teams are undergoing a transformation to be more integrated across the business,and we believ

207、e there is still ample headroom,especially in the US.We continue to see opportunity for greater cross-selling and are confident that the new global key account management function can really help drive stickiness with large,multi-national clients.We also continue to benefit from synergies from our a

208、cquisition of the SMG Insight business(re-branded as YouGov Sport),through the expansion of capabilities and awareness in aligned sectors,using a similar blueprint.Commentary from Sundip Chahal,Chief Operating OfficerData ProductsDescriptionYouGovs Data Products division comprises our syndicated dat

209、a products,which are available to clients on a subscription basis.YouGov is continuously capturing live streams of data from its proprietary panel in the YouGov Cube,our unique connected data library.Data Products tap into the Cube,which includes over ten years of historic single-source data,to prov

210、ide continuous monitoring of brand fundamentals and a detailed portrait of consumer segments.We provide training to clients when onboarding them to ensure they can extract the highest value from the platform and provide customer support through our global client service teams.Contracts are typically

211、 negotiated on an annual basis and clients can adjust the number of users and geographies to suit their marketing needs.Data Products subscribers can also access additional datasets via subscription bolt-ons for specialised needs.ProductsData Products mainly consists of our YouGov BrandIndex and You

212、Gov Profiles products,which have been combined into our YouGov Plan&Track solution.BrandIndex allows users to continuously monitor brand fundamentals including brand awareness,advertising awareness,word of mouth,brand health,consideration,purchase intent,and customer satisfaction.BrandIndex data is

213、updated daily(or bi-weekly or weekly in some developing markets)and includes up to 12 years of historical data.Profiles offers the largest,most detailed and real-time consumer database updated weekly.It connects cross-sectional data from panellists on demographics and lifestyle,brand,sector,and medi

214、a,digital and social data all in one place,combining that with attitudes,interests,views and likes.Data Products also includes several other products such as YouGov SportsIndex,measuring quality,performance and market potential for the most relevant sports leagues and events globally,and YouGov Sign

215、al,which tracks the digital expression of opinions on social media platforms and applies complex machine learning to contextualise online sentiment and conversation.YouGov DestinationIndex is a new tool tracking public opinion of 120destinations across 25 key markets daily to provide marketers with

216、insights into the publics perceptions of their destination,as wellas their competitors.How clients use it Audience identification and analysis Media targeting Campaign effectiveness Brand health monitoring Social media listening and analytics30YouGov Annual Report&Accounts 2020DataServicesCustomRese

217、archDescriptionYouGovs Data Services division provides clients with fast-turnaround survey services,charged on a rate-card basis.Omnibus surveys are run daily in most territories,providing nationally representative responses to clients within a short timeframe(most countries utilise a 48-hour turnar

218、ound,with 24-hour turnaround available in the UK and US).Our targeted services use the same fast-turnaround tools to reach bespoke samples where clients need responses from a more targeted audience.Our highly trained researchers support clients in designing survey questions in line with best practic

219、e,using our user-friendly,interactive questionnaire scripting tool,YouGov Collaborate.It significantly enhances the speed of survey building and ensures users obtain the most accurate and actionable responses.Our research teams also extract connected data on survey respondents,housed within the data

220、-rich YouGov Cube,to allow clients to analyse findings with unrivalled granularity.The results of the surveys and the connected data are reported in YouGov Crunch,our online data visualisation tool,which helps clients interpret and present compelling data to key stakeholders.ProductsYouGov RealTime(

221、known as YouGov Omnibus in the UK and US),is the market-leading online omnibus survey service in the UK and available in 40 markets globally.RealTime is underpinned by YouGovs purpose-built technology and our highly engaged online panel,ensuring you can build surveys,watch live results and interpret

222、 robust,reliable data with ease.The size and diversity of the YouGov panel has also enabled us to extend our omnibus services to highly niche groups,for example B2B,C-Suite Directors and Members of UK Parliament.This allows clients with specialised research needs to run targeted surveys in a quick,c

223、ost-efficient manner.YouGov Re-Contact works in conjunction with our subscription data products.Data Products subscribers can use it to undertake one or multiple fast-turnaround Omnibus surveys to augment the syndicated data they receive through YouGov BrandIndex and YouGov Profiles.How clients use

224、it Marketing and customer insight Generate media PR and coverage Win pitches Campaign planning and evaluation Ad tracking and concept testing New product developmentDescriptionYouGovs Custom Research division offers bespoke quantitative and qualitative research services delivered by sector specialis

225、ts to meet a clients specific requirements.Our sector specialisms include consumer,corporate reputation and B2B,financial services,media and technology,sports and political and public sector.Our researchers work in conjunction with our clients to tailor research projects,from custom samples to quest

226、ionnaires,and then deliver the results in line with the clients precise needs.As part of our Data Integration pillar,Custom Research services have been strategically re-positioned to better align with our syndicated data products and services.Our research projects draw upon and build on data we hold

227、 in our data library,the Cube,and projects are delivered through our data analytics tool,Crunch.Based on this,we have developed commoditised research products that can be customised to meet specific client needs.ProductsCustom Research projects vary significantly in scope,scale and complexity and ca

228、n range from large-scale national and multi-national tracking studies to one-off surveys designed to address and explore specific commercial,social or political issues for the client.YouGov Recommend+is a brand-specific NPS diagnostics approach to give marketers the full picture on what drives consu

229、mer advocacy.Marketing professionals can evaluate the importance of factors such as brand image,brand values,emotion and consumer personality in determining whether someone is likely to recommend a brand.How clients use it Tracking studies such as campaign effectiveness and customer satisfaction Bra

230、nd health and reputation studies Syndicated studies covering sector or product trends Qualitative research Customer profilingStrategic report Governance report Financial statements Additional informationYouGov Annual Report&Accounts 202031Data Products YouGovs Data Products division comprises our sy

231、ndicated data products,which are available to clients on a subscription basis.YouGov Annual Report&Accounts 20203227293134352015/162016/172017/182018/192019/20Data Products16.6 24.1 30.4 41.551.3 Revenue m Adjusted operating profit margin1%Financial performance Revenue from Data Products increased b

232、y 24%(21%growth in underlying terms)in the 12 months to 31 July 2020.Strong performance was seen across all geographies,against a difficult trading environment for some clients.Our business model of collecting and delivering data digitally ensured our clients were able to continuously monitor brand

233、fundamentals and plan effective media campaigns despite the ongoing turbulence caused by the COVID-19 pandemic.Rapidly changing consumer behaviour and sentiment increased the importance of receiving up-to-date data and we were able to capitalise on that client need as demonstrated by our performance

234、.Adjusted operating profit1 from Data Products increased by 26%to 18.0m and the operating margin increased by 1%to 35%reflecting the operational leverage of the division which benefits from a high level of automation for data collection and product delivery as well as our proprietary data.2019/20 op

235、erational highlightsWe expanded the geographic reach of our syndicated data products suite during the year through our panel expansion.YouGov BrandIndex is now available in 42 countries(2019:40)and YouGov Plan&Track(the combined BrandIndex and Profiles proposition)is available in 24 countries(2019:2

236、1).Through our acquisition of SMG Insight(now YouGov Sport),our YouGov SportsIndex data product isavailable in38 countries(2019:38).Case study Since YouGov DestinationIndex was developed in 2019,a US-based airline carrier has been leveraging the tool not just to measure and track interest in key des

237、tinations,but to identify potential customers and new opportunities through the use of custom audience filters.The client can now measure its brand health by travellers to destinations it services and others around the globe,while filtering its own brand metrics through the most relevant audience se

238、gments.In addition,the airline carrier also utilises the data to help determine routes based on interest in travelling to and from specific destinations.This success led to a global launch of the product in July 2020.Our data products have continuously evolved over the past year to track more brands

239、,sectors and variables on consumers,which has helped us grow our client base and allowed clients to plan and execute more effective campaign strategies and track their success.We have also developed advanced modules of our publicly available YouGov COVID-19 Monitor onapaid-for basis to help clients

240、navigate these challenging times.Strategic focus Continue to widen brand and sector coverage to help expand client base Transition basic client support responsibilities to our CenX to ensure 24/7 availability Increase understanding of client businesses and challenges internally to enable our teams t

241、o address them using integrated YouGov capabilities Enhance local expertise to provide more effective solutions Raise level of client service to maintain strong renewal rates 1 Defined in the explanation of non-IFRS measures on page 59.Strategic report Governance report Financial statements Addition

242、al informationYouGov Annual Report&Accounts 202033Data Services YouGovs Data Services division provides clients with fast-turnaround survey services,charged on a rate-card basis.YouGov Annual Report&Accounts 20203429242120182015/162016/172017/182018/192019/20Data Services17.9 23.3 29.0 37.2 37.8 Rev

243、enue m Adjusted operating profit margin1%Financial performance Revenue from Data Services increased by 2%(4%growth in underlying terms)in the 12 months to 31 July 2020.The focus on the US market and further territorial expansion has helped the division expand the revenue base beyond the core UK mark

244、et.However,growth was moderated in the year due to several factors including a reorganisation in the Nordics,non-recurring election work in Asia Pacific in the prior year,subdued performance in Germany and temporary disruption from an internal sales restructure in the US.Adjusted operating profit1 f

245、rom Data Services decreased by 6%to 7.0m and the operating margin declined by 2%to 18%.The margin decline was largely driven by an increase in allocation of central costs and the full-year impact of transferring lower margin project work from the Custom Research division in the Nordics in the prior

246、year.The division has also seen lower underlying growth in recent years which has lowered its ability to absorb rising investment costs.2019/20 operational highlightsAs part of the new five-year strategic plan,the Data Services division has been focusing on an operational integration with the Custom

247、 Research division in an effort to streamline the research process and deliver higher-quality output and service to our clients.This reorganisation has resulted in some temporary disruption while we better align our teams and provide them with the right tools to deliver growth in the future.We have

248、also started to build out teams at our CenX that will be able to assist our research teams globally and have already started to see positive results of this transition in the form of greater collaboration between all three divisions on delivering valuable insights to clients.On the technological fro

249、nt,we have continued to invest in enhancing the capabilities of our YouGov RealTime service,introducing the availability of live reporting of survey results as well as data delivery though our leading-edge Crunch analytics platform.The Data Services team has furthered the development ofYouGov Collab

250、orate,ouraided self-service tool for the creation of research projects,and it has been implemented across all our internal markets and is being used by anumber of clients.Case study With backing from supporters such as Google,Ofcom and BBC News,the Reuters Institute for the Study of Journalisms Digi

251、tal News Report is aworldwide study based on YouGov data.Using YouGov RealTime survey tools and Custom Research expertise,the 2020 study is based on data from 80,000 online news consumers in 40 markets including Kenya and the Philippines for the first time.The 2020 report looks at the impact of the

252、COVID-19 pandemic on news consumption and on the economic prospects for publishers.It also looks at progress on new paid online business models,trust and misinformation,partisanship and populism,and the popularity of curated editorial products such as podcasts and email newsletters.Strategic focus D

253、rive efficiencies across the business through automation,offshoring and combining resources with the Custom Research team Increase client engagement and satisfaction with a goal of driving greater loyalty Marketing the entire YouGov product suite as one combined offering through focus on Cube-aligne

254、d research work Complete the ongoing reorganisation of the teams with an aim to integrate Europe and Asia by the end of the next financial year1 Defined in the explanation of non-IFRS measures on page 59.Strategic report Governance report Financial statements Additional informationYouGov Annual Repo

255、rt&Accounts 202035Custom Research YouGovs Custom Research division offers bespoke quantitative and qualitative research services delivered by sector specialists to meet aclients specific requirements.YouGov Annual Report&Accounts 20203613152022202015/162016/172017/182018/192019/20Custom Research54.3

256、 60.2 58.7 60.0 64.6 Revenue m Adjusted operating profit margin1%Financial performance Revenue from Custom Research grew by 8%(12%growth in underlying terms)in the 12 months to 31 July 2020,compared to modest growth of 2%in the prior year.The improved performance of the division has largely been dri

257、ven by the US and UK,as the realignment of the business with our connected data offering began to show positive results.While the division saw some weakness in typical project work,it was offset by COVID-19-related work and continued growth from technology clients.Performance in Mainland Europe was

258、impacted by an ongoing restructuring in the first half of the year,as part of which certain segments were transferred to the Data Services division and recovered in the second half following large contract wins.The Middle East business was impacted by the winding down of the Kurdistan business as pa

259、rt our shift in focus to research projects and tracking studies that draw upon and build on our vast data library.Adjusted operating profit1 declined by 4%in the year,representing an adjusted operating profit margin of 20%(2019:22%).This decline was largely due to the closure of the Kurdistan busine

260、ss and an increase in central cost allocations.2019/20 operational highlightsThe Custom Research division underwent a business transformation during our first five-year plan(“FYP1”)which concluded on 31 July 2019.As part of this transformation,we moved away from labour-intensive research projects an

261、d focused on higher-margin contracts that use the power of our connected dataset.During 2019/20,we completed the final step in that process by exiting our Kurdistan business.During the year,as part our Data Integration pillar,our Custom Research division has developed tracking studies using the YouG

262、ov Cube that provide a customised,scalable way of delivering research data and valuable insights to clients.These trackers minimise the need for proactive data collection required for each new Custom Research project while providing more connected and tailored data.This has resulted in the launch of

263、 several new products such as our NPS tracking product,YouGov Recommend+,and our COVID-19 suite of products.Case study The Custom Research division plays a key role in YouGovs work with a leader in the plant-based meat sector,providing sector and analytical expertise to inform research approaches,ad

264、vanced questionnaire design,and results analyses.The Custom Research team acts as key experts in client discussions,leads new initiatives,and produces reporting based on YouGov RealTime and YouGov Profiles datasets.The relationship continues to grow,having recently led to a YouGov Profiles subscript

265、ion in addition to their full scope of ongoing work.Strategic focus Growing focus on delivering tailored research projects and brand trackers that utilise the data-rich YouGov Cube to provide valuable insights toour clients Greater collaboration to deliver projects that combine YouGov RealTime,Custo

266、m Research and YouGov Cube elements to produce customised deliverables,delivered using the Crunch platform,using leading-edge analytics and research methodologies Utilise our CenX to complement the local custom research teams,allowing the divisions to be more operationally efficient,delivering great

267、er synergies,and produce a higher-quality output for our clients Increase exposure of Custom Research among our largest clients and build greater awareness around our research capabilities using our new global key account management structure 1 Defined in the explanation of non-IFRS measures on page

268、 59.Strategic report Governance report Financial statements Additional informationYouGov Annual Report&Accounts 202037Section 172 StatementOur approach Under S172(1)of the Companies Act 2006(“S172”),the Directors of YouGov plc(the“Company”)are obligated to act in the way they consider would be most

269、likely to promote the success of the Company for the benefit of its shareholders as a whole.In doing so,the Directors must have regard(among other matters)to:a.the likely consequences of any decision in the long term;b.the interests of the Companys employees;c.the need to foster the Companys busines

270、s relationships with suppliers,customers and others;d.the impact of the Companys operations on the community and the environment;e.the desirability of the Company maintaining a reputation for high standards of business conduct;and f.the need to act fairly as between shareholders of the Company.YouGo

271、vs governance framework is conducive to Board-level decisions being made with stakeholder interests,and the longer-term impact,in mind.On the following page are some examples of how the Board of Directors considered matters and reached decisions,demonstrating how they have had regard for S172 when d

272、ischarging their duties this year.For more information on the groups we have identified as the Companys key stakeholders and how we engage with them,see pages 40 to 43.1.Board information3.Board decision2.Board strategic discussionDirectors receive training on their duties to ensure their awareness

273、of their responsibilities.The Board is satisfied that information provided is of sufficient quality to aid their decision-making;seeking assurance if required.The Boards decisions arecommunicatedto wider stakeholders.Actions are taken to implement the Boards decisions.The Board takes into considerat

274、ionS172 factors in its strategicdiscussions,such as the long-termimplication of decisions on the business and the impact on stakeholders.Presentations to the Board by both internal and external subject matter experts,and external advisors.Information is provided in Board papers which take into consi

275、deration the views of stakeholders(e.g.major investor input on reporting).Templated Board papers nudge the writers to consider stakeholder interests.YouGov Annual Report&Accounts 202038Design and implementation of new long-term incentive planExternal assurance of internal controls Implementation of

276、new client services structureOperational response to the COVID-19 pandemicStakeholders Stakeholders Stakeholders Stakeholders Section 172 considerationsSection 172 considerationsSection 172 considerationsSection 172 considerations Matter for discussionThe Board sought a suitable replacement long-ter

277、m incentive plan for Executive Directors and key management,in advance of the expiry of the LTIP 2014.How the Board considered S172LTIP 2019 was designed to promote long-term thinking by participants and achievement of long-term business targets.In designing the rules,the Board:engaged external remu

278、neration consultants to advise on the appropriate structure of a plan consistent with the Companys objectives and employee interests;consulted our major shareholders to ensure that their expectations were met bythe new plan;considered the shareholder dilution impact;and considered and approved docum

279、entation to support the plan delivery including an operational guide for the Remuneration Committee and aguide for participants.Matter for discussionThe Board identified a need for an external assurance review of key internal control areas by subject matter experts in addition to the routine annual

280、external audits.How the Board considered S172 The Board sought insight from stakeholders in the business to consider their views on the value of an assurance programme,areas to be targeted for review and,once underway,their views on the output of the assurance reports.The Board tasked management to

281、create roadmaps to tackle the recommendations from the assurance reports.In scrutinising the roadmaps,the Audit and Risk Committee considered the long-term consequences of decisions made(e.g.investment in resources and technological solutions)and the strategic approach to the actions.The Audit&Risk

282、Committee sought advice from subject matter experts on the proposed improvements,keeping in mind the desire to maintain a reputation for high standards of business conduct.Matter for discussionDuring the reporting year,the Board oversaw a restructure of the UK and US client-facing teams into three l

283、ayers to improve the client onboarding and service experience.How the Board considered S172 The CEO undertook client satisfaction interviews with major clients during financial years 2018/19 and 2019/20.The output of these interviews was shared with and discussed by the whole Board.Led by the COO,Ex

284、ecutive Management designed the Strategic Sales Plan which was approved by the full Board.In developing the new structure,and prior to communication with the wider workforce,Executive Management:engaged with senior and middle managers about the proposed changes;reported on the planned changes to the

285、 Board;and sought the Boards insight into the plans during development.The Board considered the long-term impact of the decision for the business;short-term disruption outweighed by long-term benefits.Matter for discussionThe COVID-19 pandemic posed unprecedented disruption to our business during th

286、e year from closure of offices to tightened marketing budgets.How the Board considered S172 The Board was key to determining the approach we took to our COVID-19 response,validating the work and recommendations of the YouGov COVID-19 Response Team(“CRT”)and enabling us to maintain high levels of bus

287、iness continuity.In assessing the information and recommendations provided by the CRT,the Board took into account the impact of the operational response on multiple stakeholder groups employees,clients,suppliers and shareholders in particular.With the Companys interim results announcement falling du

288、e at the time of the FRCs moratorium on corporate reporting applied due to pandemic-related market uncertainty the Board took into consideration the regulators recommendation and shareholder interests in taking the decision to postpone the results by one week.Outcomes and actions Plan launched in No

289、vember 2019,with participants scheduled to receive their first awards in October 2020,subject to satisfactory achievement of their personal performance objectives and approval by the Remuneration Committee.Prior to the grant of awards under the LTIP 2019,the latest shareholder dilution position will

290、 be considered by the Remuneration Committee.Outcomes and actions Board commitment to an ongoing assurance programme of key control areas,by external assurance specialists.For more on our external assurance programme,see page 74.Outcomes and actions Phased restructure commenced during 2019/20 in UK

291、and US.The CEO and COO continue to provide regular updates to the Board on progress.Outcomes and actions Our business remained operational throughout global lockdowns;no staff furloughed.Board activities continued virtually throughout the lockdown period,utilising online solutions for Board papers a

292、nd meetings to ensure a seamless transition.Return to Office Working Group established to manage the complex office reopening plans globally.the likely consequences of any decision in the long term the interests of the Companys employees the impact of the Companys operations on the community and the

293、 environment the desirability of the Company maintaining a reputation for high standards of business conduct the need to foster the Companys business relationships with suppliers,customers and others the need to act fairly between shareholders of the Company Key Panellists Employees Community Client

294、s Suppliers and partners Shareholders MediaStrategic report Governance report Financial statements Additional informationYouGov Annual Report&Accounts 202039YouGov Annual Report&Accounts 2020YouGov is committed todriving long-term sustainable performance forthe benefit of our stakeholders.In this se

295、ction,we present the groups we have identified as our key stakeholders,summarise what matters to them,and outline how we engage with them both at Board level and more widely.Our StakeholdersPanellistsAt over 11 million registered members,our proprietary global panel is our largest stakeholder group

296、and is essential to our success.Engaged,diverse and opinionated panellists are key to our business.Ensuring effective engagement with ourpanel is central to what we do.What matters to themSecurity of their information We work hard to ensure that we provide clear and accessible information to panelli

297、sts about how we use their personal data.Rewarding user experience We aim to provide a rewarding and compelling user experience for panellists,constantly seeking tooptimise the benefit they receive for the effort they put in.How we use the information they share with us YouGov is committed to the et

298、hical use of personal data,and we endeavour to provide clear and comprehensive information for panellists about what data we collect from them,and how we use it.How we engage at Board levelAt each meeting the Board receives a panel report on the health and representativeness of our panel.During the

299、year,the Board received a presentation by the Global Panel Director on panel innovations.How we engage across YouGovKeeping employees informed It is important all staff understand the fundamentals of our panel.To increase engagement around the business,we share key panel statistics and have adedicat

300、ed section on Youniverse(our intranet).Employees as panellists We encourage our employees to become panellists so that they can fully appreciate the panellist experience.Ensuring a representative panel It is imperative that our global panel is representative of the markets we are operating in.We inv

301、est in technology to reach panellists who may not be open to a traditional approach.For more on our panellists,see page 46.40EmployeesTo keep innovating and developing at the rate necessary to attain our strategic objectives,we hire high-achieving,talented employees and in return they rely on us to

302、provide good employer value.What matters to themEmployer value The benefits which employees receive in return for the skills and experience which they bring to the business.Work environment Employees want to be safe,comfortable and secure intheir workspace.How we engage at Board levelEmployee engage

303、ment reports and updates on relevant projects are presented to the Board.The Board travels away from our UK headquarters twice annually to meet employees in other offices.This year,our November meetings took place at our Copenhagen office.How we engage across YouGovInternal communications We leverag

304、e various platforms for internal communications,including Global Town Halls and our intranet,Youniverse.To enable virtual collaboration between colleagues,we provide tools such as Zoom and Office 365.Diversity&Inclusion Task Force The employee-led task force aims to identify a set of actions to make

305、 YouGov a more diverse and inclusive place to work.Read more on page 47.Pulse surveys In our monthly Pulse surveys we check in with employees on their wellbeing and mental health.Engagement Champions Our network of Engagement Champions are responsible for engaging their teams in Pulse surveys and wo

306、rking to improve employee engagement.CommunityWe supply select data to the public free of charge as a public service,through our Public Data initiative,and we support industry initiatives whichbenefit the research community.What matters to themFree public data Providing free access to high-quality p

307、ublic data gives researchers access to a store of opinion research that would otherwise only be accessible tothose who could afford it.Supporting industry initiatives As a key employer in the research and data analytics industry,our public support of initiatives tobenefit those working in our indust

308、ry is important.How we engage at Board levelThe Board developed the current strategy and determined that key strategic pillars of FYP2 would be a focus on public data and the ethical collection and use of data(for more on our strategic pillars,see page 16).How we engage across YouGovPublic Data init

309、iatives Through our Public Data initiatives,we make a wide range of information available for free to the public.This free data is delivered via our website and directly to certain organisations.See page 20 for more detail,including our in-depth YouGov COVID-19 Behaviour Tracker and YouGov COVID-19

310、Public Tracker.Sponsoring MRS Pride We have been delighted to once again sponsor the UK Market Research Societys“MRS Pride”initiative in 2020.MRS Pride is designed to provide a platform for LGBTQ+consumer insight and methodology best practice.Our sponsorship has supported events which aim to create

311、a new space and community for LGBTQ+research,insight and analytics professionals as well as educate allies.For more on our employees,see page 49.For more on our community engagement,seepage 46.Strategic report Governance report Financial statements Additional informationYouGov Annual Report&Accounts

312、 202041Our stakeholders continuedClientsOur client base is predominantly focussed on marketing activities and includes some of the worlds most recognisable brands.Clients rely on our supply of high-quality,accurate data to enable intelligent decision-making and informed conversations.What matters to

313、 themUnderstanding their needs and meeting them It is important that we engage with clients to understand their needs.This enables us to target our innovations into areas of demand andremain competitive.Veracity and legality of the data we provide Our clients rely upon our data for decision-making a

314、nd it is therefore imperative that we conduct our research diligently,ensuring an accurate product which has been obtained in an ethical way.How we engage at Board levelAlongside regular client updates from Executive Management,the Board receives client presentations at the annual Board strategy mee

315、tingeach year.Feedback from clients is on the agenda at each Board meeting,as part of the CEOs report.The CEO regularly conducts interviews with major clients and reports learnings back to the Board.How we engage across YouGovKey account management We are educating the business about our client-cent

316、ric approach so that we are all engaging with our clients in an improved and consistent manner.Product educationWe hold webinars for staff to learn about new products and how to pitch them to clients.For our clients,we offer webinars on how to get the most out of our tools,led by subject matter expe

317、rts.Sharing commercial updates A regular feature of our Global Town Hall meetings is an update on client wins and projects,encouraging employees from all departments to understand the key clients for our business and howwe are supporting them.For more information on our client offering,seepage 52.Su

318、ppliers and partnersWe aim to work with organisations that match our values and share our ethical approach to business.Our supply chain plays a vital role in supporting our growth and enabling us to meet the needs of our clients and other stakeholders.What matters to themClarity of terms We use form

319、al contracts(including master services agreements)with suppliers that are appropriate for the type of service provided.Payment in a timely manner Prompt payment is always important,but particularly so during the challenging economic climate this year.Mutually beneficial relationships It is important

320、 for our suppliers to benefit from our relationship with them,as we will from them.We are delighted to have key partner relationships in some areas of the business,for example our YouGov Global Partnerships Programme partners(helping us to promote YouGov products and services in regions where we do

321、not have our own presence)and our Panel Acquisition partners(working to grow our panel in targeted areas).How we engage at Board levelThe Board receives updates on supplier and partner relationships from the COO at each meeting.How we engage across YouGovSupplier Assessment Process This year we laun

322、ched a Supplier Assessment Process,to improve due diligence checks and to provide a more efficient onboarding process for the suppliers themselves.For more information on our suppliers andpartners,see page 47.YouGov Annual Report&Accounts 202042ShareholdersOur Executive Management engages with share

323、holders regularly throughout the year to ensure they are apprised of our strategic growth plans and financial results.Institutions make up the majority of YouGovs shareholder base,accounting for around 60%of the shareholding at year-end.What matters to themReturn on their investment and a business o

324、perating in a way that is consistent with their expectations.How we engage at Board levelOur Board regularly engages with investors on matters such as financial performance and strategy.We hold investor roadshows in the UK and US each year(these have been held virtually in 2020).Our Annual General M

325、eeting is an opportunity for shareholders to meet the Board to discuss the Annual Report&Accounts and other matters.During the year,meetings take place between investors and both the Non-Executive and Executive Directors on an ad hoc basis.How we engage across YouGovInvestment in our investors Durin

326、g the year we invested in additional resource dedicated to investor relations,creating a new Investor Relations Manager role.Corporate website In 2019,we launched a new corporate website to provide streamlined access to all our published corporate data and additional resources for investors.Annual R

327、eport&Accounts Our Annual Report&Accounts is prepared each year to provide details to our shareholders on the performance of the business and operation of the Board and is a key document for investor engagement.Media Our research is a trusted resource regularly referenced by media outlets worldwide.

328、During the year to 31 July 2020,among our global market research competitors,YouGov ranked first when it came to the volume of media mentions.In respect of individual countries,YouGov ranked first in the UK andGermany,and second in the US.What matters to themAccess to accurate data Journalists regar

329、d YouGov as a trusted source of accurate data,enabling them to quote our research with confidence.Topical research Access to our large proprietary panel enables us toprovide quick turnaround on topical research.How we engage at Board levelThe CEO provides updates to the Board meetings on media menti

330、ons and engagement.How we engage across YouGovContent Marketing team We have a Content Marketing team dedicated to creating and distributing quality insights based on YouGov data.We are known for our independent editorial stance.Key media partners The flagship programme of US television network Come

331、dy Central,The Daily Show with Trevor Noah,has partnered with YouGov for the 2020 US Presidential Election to measure public attitudes with a hint of comedy.The collaboration provides in-depth research about attitudes among US voters and offers an accessible entry point for the US public to read imp

332、ortant opinion data around the election.Keeping panellists informed Where a panellist participates in a survey which results in media coverage,where possible we will inform them so that they can see how their response contributed to a news article,for example.For more information on engagement with

333、shareholders,see page 70.For more information on our media mentions this year,see pages 16 and 17.Strategic report Governance report Financial statements Additional informationYouGov Annual Report&Accounts 202043Environmental,Social and GovernanceStephan Shakespeare,Chief Executive Officer,talks to us about YouGovs approach to environmental,governance and social factors(“ESG”)Highlights YouGovs co