President’s Report – December 2024

The key news to share with you relates to ESOMAR’s plans for 2025 and our recent General Meeting and Townhall. At the recent General Meeting and Townhall our Director General Joaquim Bretcha and our elected Treasurer Corrine Moy set out our plans for 2025. The 2025 plan outlines what ESOMAR plans to achieve next year and the budget, shows how it will be afforded.

The Plan
The 2025 Plan is developed around three pillars:
I. Value Creation and Delivery
II. Growth
III. Transformation

In terms of Value Creation and Delivery we emphasise the benefits for members and indeed the whole industry, of the work done by ESOMAR. We have two key items that we will be promoting, these are Advocacy and the updated ICC/ ESOMAR Code.

Advocacy refers to working with legislators and regulators to make the case for laws and rules that create the right environment for ethical market research and insights. We want laws that permit best practices, and which support self-regulation of the market research and insights industry.

The ICC/ESOMAR Code has been adopted or endorsed by a majority of the worlds research associations, but it was last updated in 2016. The ICC is the International Chamber of Commerce and it and ESOMAR have had a joint Code since 1976. We are in the final stages of reviewing the global consultation of a revised text and will soon be ready for an updated draft to be shared. The exact timing of the new codes depends on the ICC as well as ESOMAR, but it will be complete in 2025 and it will then be a major plank of our communication.

Value Creation and Delivery also refers to the many local and global events that ESOMAR organizes. In 2024 there were over 100 local, regional and global events, ranging from Congress in Athens to a large number of Community Circles.

Growth refers to both Revenue and members. Things like advocacy, standards, and events cannot be funded solely by membership fees. ESOMAR’s membership fee is already a significant expenditure for many, and we are committed to increasing the share of revenue from other sources. One area where we plan to do this is by boosting our training work, which creates a win/win for the industry and our finances. Another strand will look at creating awards that generate visibility for winners and revenue for ESOMAR. With more revenue we can do more value creation, for example our plan to help boost the research industry in Africa and employ an Africa Ambassador to help develop the region (similar to the Ambassadors we already have for Asia Pacific and Latin America).

In terms of members, our growth target focuses on both new members and member retention. One of the key drivers will be the Value Creation and Delivery pillar, a second driver will be the Transformation pillar.

ESOMAR is undertaking a Digital Transformation. We are not happy with the online experience we provide to member, to the wider research and insights community, nor to the ESOMAR staff trying to deliver value to members. This transformation will boost our value to members, it will make us more efficient, and it will support new revenue opportunities.

ESOMAR is also undergoing a Transformation in the way it is organized and works. Externally we are delivering more information, listening more, and creating more ways to be involved. Internally, led by our Director General Joaquim Bretcha and guided by the Council we have been reviewing our structure, working practices and culture to create a more professional and integrated way of working. These changes are being built into the Digital Transformation and the Digital Transformation will accelerate the changes.

One specific change for 2025 that was mentioned in the General Meeting and Town Hall was the moving of the APAC Conference from November back to its pre-pandemic slot in the first half of the year. This has numerous advantages but means the next APAC Conference will be in 2026. However, ESOMAR will be creating a linked chain of ESOMAR Connect events in APAC in 2025. ESOMAR Connect events are locally organized, often in conjunction with other associations, often free and usually funded via sponsors.

As President, I would like to thank the ESOMAR staff and the Council for all their hard working in creating this Plan and in looking beyond just 2025. I look forward to our Director General Joaquim Bretcha leading its implementation over the next few years.

The Budget

An update on the 2024 finances to date and the budget for 2025 was presented by the ESOMAR Treasurer Corrine Moy at the General Meeting.

The primary role of the budget is to provide the money required to deliver the Plan. The context for this year’s budget has been challenging for three reasons. There has been continued inflation in 2024, increasing our costs, the membership rejected a proposed 5% increase in the membership fees which led to the Council proposing a 0% increase, the loss in 2025 of the APAC Conference (which is a major source of revenue). Members can see the detailed budget information via MyESOMAR. It should be noted that the 2026 budget will benefit from the return of the APAC Conference.

The key points from the 2025 budget are:

• A small increase in the total revenue, benefitting from new revenue streams but accounting for the loss of the APAC Conference. This includes an increase in the number of members.

• An increase in the overall level of expenditure, for example salaries and office expenses.

• A breakeven projection for the year, in terms of the day-to-day budget (i.e. excluding any return on ESOMAR’s invested financial assets).

  
  

  ESOMAR has investments worth just over 4 million Euros. These are an insurance against issues like the pandemic and they are a means of funding strategic initiatives. In 2024 we expect the funds to show a return (increase) of approximately 380K Euros. The value of the funds can go up or down, so we do not budget for a specific return in 2025. We expect to be using some of these assets to finance the Digital Transformation.

  
  

  The General Meeting and Voting

  
  

  On 10 & 12 December we held a general meeting, with two sessions on 10 December where we put forward two resolutions and answered questions, and a session on 12 December where we announced the results of the voting.

  
  

  The two resolutions were:

  
  1. To approve the budget for 2025.

  2. To approve the auditors for the 2024 accounts (which will be presented in the first half of 2025).

  
  

  Both resolutions were approved with 100% voting yes. However, we were disappointed the low number of people voting. All voting for ESOMAR General Meetings is done online, via MyESOMAR and we need to look at ways of making it easier and more engaging.

  
  

  Other News

  
  

  The nominations for election to Council and for President are open, check out the details by clicking here. The nominations close on 12 January and voting will start 3 February.

  
  

  On behalf of ESOMAR I would like to express my thanks to Kristin Luck for her ten years of service on the ESOMAR Council, two as Vice-President, two as President, and two as Past-President. Kristin is standing down from the Council but will continue to be involved in key activities such as the CEO Forum and the Insights250. I would like to express particular thanks for the professional and helpful assistance she has given me over the last two years, in my role as President.

  
  

  And finally, as it gets towards the end of the year it is my pleasure to send you my best wishes for the New Year and if you celebrate Christmas to wish you Happy Christmas.