What Valicon does

Valicon is a privately held market research and consulting firm headquartered in Ljubljana, Slovenia, operating across the Southeast European Adria region through offices in Slovenia, Croatia, Serbia, Bosnia and Herzegovina, and Kosovo. Founded in 1996 and structured as a Slovenian limited liability company (VALICON, trženjsko svetovanje in raziskave d.o.o.), the firm serves large enterprises and small/mid-sized businesses in sectors including FMCG, telecommunications, retail, banking, and insurance, with publicly cited clients such as Telekom Croatia, Mercator, Raiffeisen Bank BH, and Alta Funds. The company positions itself as a regional specialist for small markets that are underserved by global research providers, leveraging 20+ years of accumulated regional consumer data and a 1,250+ client base.

Valicon's product portfolio combines syndicated research products (Brand Track, All Finance, All Insurance, Shopper's Mind, Ad.Diagnosticon, TOP BRANDS) with custom consulting engagements. Its underlying technology platform rests on three pillars: a proprietary 100,000-member online consumer panel (Opinia.Club); a neuromarketing service using EEG and eye-tracking to capture unconscious consumer responses, backed by a database of 1,000+ neuro-analyzed advertisements; and a Predictive Targeting solution delivered in partnership with Slovenian ad-tech firm iPROM. In 2024 the firm logged 1.24 million respondent interactions, 830,835 online surveys, 253,735 client-database surveys, 36,141 phone interviews, 25,029 in-person interviews, 4,816 focus group participants, and 640 mystery shopping visits, evidencing substantial operational scale.

The business model is a hybrid of professional services and recurring/subscription-style syndicated research. Custom research and neuromarketing engagements are priced on a quote-based, project-tied basis often over multi-year horizons, while syndicated products (All Finance covering 30,000+ consumers, All Insurance covering 20,000+ panelists, Shopper's Mind, Brand Track) generate recurring, benchmarked revenue from periodic reports. Distribution is sales-led via direct enterprise engagement through five regional offices, supplemented by content marketing (news, research reports), industry events, and a six-language web presence. Strategic activity in 2023–2026 has centered on geographic expansion (Kosovo entry December 2023), product reinvigoration (TOP BRANDS relaunch November 2025), and ecosystem buildout (Predictive Targeting, VIP platform, (t)CX Feedback).

Name

Valicon

Legal name

VALICON, trženjsko svetovanje in raziskave d.o.o.

Website

https://valicon.net

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

Valicon is a Southeast Europe–based market research and consulting firm operating across Slovenia, Croatia, Serbia, Bosnia and Herzegovina, and Kosovo. It delivers syndicated and custom research, neuromarketing (EEG and eye-tracking), and consumer insights via a 100,000-member panel to enterprise and mid-market clients in FMCG, telecom, retail, and financial services.

Ownership category

akta.pro rank

Product category

Market Research & Consulting

NAICS

Marketing Research and Public Opinion Polling (541910), Marketing Consulting Services (541613), Other Services Related to Advertising (541890)

SIC

Services-Advertising (7310)

akta.pro primary industry

Market Research, Analytics & Consumer Insights (BPAFAAAM)

akta.pro secondary industries

Behavioral & Neuroscience Research (Biometrics, Eye-Tracking, Neuromarketing) (MPAAALAN), Customer Experience (CX) & Voice of Customer (NPS/CSAT, Journey Research) (MPAAALAH), Brand Consulting, Audits & Research (Brand Health, Equity, Competitive) (BPAFAEAJ)

Keywords

• Market research services
• Consumer insights
• Brand tracking
• Neuromarketing analysis
• Customer satisfaction measurement

Headquarters

HQ city

Ljubljana

HQ country

Slovenia

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Custom Market Research & Consulting: Tailored market research projects and consulting engagements delivered to enterprise clients across various industries. Projects include brand tracking, customer satisfaction studies, concept testing, and ad effectiveness measurement.
2. Syndicated Research Products: Standardized, recurring research reports and benchmarking services like Brand Track, All Finance, All Insurance, and Shopper's Mind that are sold to multiple clients, providing subscription-like recurring revenue from periodic reports.
3. Specialized Neuromarketing Services: Premium neuromarketing analysis services using EEG and eye-tracking technology for advertising evaluation and consumer insights.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Valicon provides tailored market research, brand building, and consulting services across Southeast Europe (Adria region). The firm combines proprietary technology — including EEG and eye-tracking neuromarketing, an online consumer panel (Opinia.Club), and an automated Smart Profiler — with human analytical expertise to deliver consumer insights, brand tracking, customer experience measurement, and syndicated sector studies.

Product overview

Valicon is a marketing research and consulting company operating across Southeast Europe (Adria region) with 5 offices. The company offers a comprehensive portfolio of research and consulting services combining technology and human expertise. Core offerings include consumer research platforms (Opinia.Club panel with 100,000 users, Valicon Insight Platform), sector-specific research (All Finance for banking, All Insurance for insurance, Shopper's Mind for retail/e-commerce), advertising effectiveness tools (Ad.Diagnosticon, Neuromarketing with EEG/eye-tracking), predictive analytics (Predictive Targeting), customer experience solutions ((t)CX Feedback, Valicon Satisfaction), brand tracking (Brand Track), and corporate reputation measurement. The portfolio includes both syndicated research products and customized consulting services, with strong capabilities in neuromarketing technology and real-time analytics.

Differentiator

Problem solved

Functional benefit

Brands

• Opinia.Club: Online consumer panel operated by Valicon with approximately 100,000 registered users for survey participation and market research data collection.
• Ad.Diagnosticon
• ConceptICON
• Brand Track (BSIT)
• Neuro.Diagnostic / Neuromarketing
• VIP – Valicon Insight Platform
• Valicon Satisfaction (CSI)
• All Finance
• All Insurance
• Shopper's Mind
• Predictive Targeting
• (t)CX Feedback
• 360° Feedback Model
• Corporate Reputation
• Consumer Segmentation

Products and services

• Brand Track
• Ad.Diagnosticon
• Neuromarketing
• Predictive Targeting
• (t)CX Feedback
• Smart Profiler Automated customer profiling tool that segments and characterizes customer bases using survey and behavioral data inputs.
• Valicon Satisfaction (CSI)
• Shopper's Mind Retail
• Shopper's Mind eCommerce
• All Finance Syndicated research solution providing consumer insights specific to the financial services industry.
• All Insurance
• VIP - Valicon Insight Platform
• Opinia.Club
• Consumer Segmentation
• Corporate Reputation
• 360° Feedback Model
• ConceptICON
• Product Testing
• Price Sensitivity Analysis

Quantifiable outcome

• Predictive Targeting delivers 90% targeting accuracy within digital environment
• +2 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability8 records

Feature5 records

Partnerships

One partnership is on record.

• iPROMcoreTechnology or IntegrationPredictive Targeting solution is delivered in partnership with iPROM, an online advertising company. This partnership combines research expertise with digital advertising technology to enable precise targeting of specified market segments. The collaboration allows Valicon to offer predictive audience modeling with guaranteed 90% targeting accuracy within digital environments.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Ipsos: Global market research and consulting firm with established Central and Eastern European operations. Direct competitor in custom research, brand tracking, advertising effectiveness, and consumer insights across the same client base Valicon serves.
• Hendal: Croatian market research agency offering consumer research, brand tracking, and analytics services across the Adria region. Direct regional competitor with overlapping client base in Croatia and Slovenia, and similar project-based research model.
• Marketagent: Austrian online market research firm operating a consumer panel across multiple European countries including CEE. Comparable in online panel methodology, syndicated research products, and recurring revenue structure similar to Valicon's Opinia.Club model.

Broad incumbents

• Kantar: Global market research giant offering brand tracking, consumer insights, and advertising effectiveness measurement. Overlaps directly with Valicon's Brand Track and Ad.Diagnosticon, but operates at materially larger scale with a global portfolio.
• NielsenIQ: Global consumer intelligence firm (now combined with GfK) with retail measurement and consumer research across CEE. Comparable in syndicated consumer research and retail analytics (e.g., Shopper's Mind equivalent), but operates at far larger scale.
• GfK (NIQ): Consumer research firm (now part of NIQ) with deep historical presence in Central and Eastern Europe. Comparable on consumer research and brand tracking but at much larger global scale and broader methodology portfolio.

Regional players

• Gemius: Polish-based digital audience research and analytics firm providing online research solutions across CEE markets. Comparable in online consumer research infrastructure, but specializes in digital audience measurement rather than advertising effectiveness or neuromarketing.

Emerging players

• System1: Creative effectiveness measurement platform using behavioral science and emotion measurement (formerly BrainJuicer). Direct overlap with Valicon's Ad.Diagnosticon and Neuromarketing services, but operates as a technology platform rather than a regional research consultancy.
• Realeyes: London-based attention measurement platform using webcam-based emotion analytics for advertising creative testing. Highly comparable technology overlap with Valicon's EEG/eye-tracking neuromarketing offering, but at global tech-platform scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/valicongroup
• Facebookfacebook.com/ValiconSlo
• LinkedInlinkedin.com/company/valicon

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Valicon