I am very excited to welcome Quantilope which digitizes market research to the Senovo family.
Current market research best practices have little automation and a significant amount of work are repetitive, manual tasks such as data aggregation, consolidation and the creation of reports. This is quite surprising when you consider that marketing technology has been one of the first sectors with a strong SaaS startup presence and the infamous marketing technology landscape reached the 1000 startup count already in 2014.
Manual tasks are very expensive if carried out without the appropriate tooling and thus individual market research projects often go up to EUR 50k and above. In addition, it is becoming even harder to achieve any meaningful ROI when the projects are carried out for smaller sub-brands or in niche markets
Henry Ford already proclaimed that half of his advertising budget was wasted, but he didn’t know which half. Curiously many projects are still “big bang” projects instead of the smaller, agile projects you would expect if there is high failure rate. The reason is that the underlying processes and tools changed little since the introduction of SPSS, Excel and Powerpoint.
Quantilope offers a solution to that with its agile consumer insights approach: The app allows you to define a typical market research project such as a conjoint analysis which measures the individual contributing factors to a consumer purchase decision. The survey can be deployed to industry-leading panel providers and the results are aggregated in an interactive dashboard with automated reporting functionality and the support of drill down analytics. This process is much leaner than a traditional market research process which usually takes 3–6 weeks. Through the Quantilope solution “big bang” projects are replaced by an automated agile consumer insight process which allows to iteratively discover the consumer POV in an explorative manner and avoid big and costly mistakes.
On top of that, Quantilope is an open and automated data processing platform. As such it integrates cutting each specialist solutions such as neuro marketing algorithms into a standardized and efficient toolkit and thus requires no change to the customer’s processes. The automated data processing functionality allows to continuously track the relative development of certain KPIs which is often much more interesting than the absolute value — and a real pain to create manual time frame and cross section comparisons.
This is an ideal situation for a startup: The existing best practice is slow and expensive. Further, customers are dissatisfied with the value they receive for their money and the existing tech stack of the established industry players make it hard to scale. This problem is amplified by increasingly sophisticated customer demands who want to deploy cutting edge techniques, access online audiences and reduce project time & costs. Leading innovative consumer companies such as Beiersdorf, Mercedes AMG, Sodastream, Hapag-Lloyd and many more solved this challenge by using Quantilope and we think many more happy customers will join their ranks soon.
Peter, Tom and Lucas have extremely ambitious plans to disrupt an entire industry. At Senovo we specialize in helping startups in this phase to scale all aspects of their business from sales, customer success and product development to supporting functions such as HR and controlling. Our investment in Quantilope is my first investment since I joined Senovo and the first investment will in any case always be a special one. I am thrilled and humbled to be part of this journey and super excited about what the next months have in store for us!