I Can See It In Your Face: Our Investment in Voxpopme and the Future of Market Research & Customer Experience

Today, Origin Ventures posted about their recent investment in Voxpopme.  We’re thrilled to have Origin as a partner supporting our growth, and are excited to see what the future holds.  Take a look at why Origin is excited about Voxpopme! 

(Original post)

We are pleased to announce Origin Ventures’ investment in Voxpopme, an enterprise software company that allows brands to capture video feedback to measure customer satisfaction and gather market research. Voxpopme enables brands to use the power of video – featuring full sight, sound, and motion – to better capture consumer sentiment in real-time.

Origin Ventures led a $9M Series A financing. The company – whose name is derived from the Latin phrase vox populi, or “voice of the people” – has offices in Salt Lake City, the U.K., and Australia. Customers include Coca-Cola, Nestle, Microsoft, Colgate, Verizon, and Airbnb.

The Rise of Customer Experience

Voxpopme is operating in two very large software markets. The global market research (MR) industry is estimated at $76B, while the emerging Customer Experience (CX) market is estimated at $8B in the U.S. In a July 2018 story titled “Customer Experience is the New Brand,” Forbes magazine said:

“Be it customer service, product quality, or just the way the customers feel about the companies they do business with, customer experience rises to the top of whether or not the customer will decide to keep doing business with a brand.”

A Gartner survey of marketers found that 89% expect to compete mostly on the basis of customer experience, vs. 36% four years prior. Verticals like media & entertainment, travel & hospitality, and financial services deliver much of their user experience digitally, with less direct interaction with customers than ever.

Digital Natives and Video

The investment aligns with our thesis centered around Digital Natives, and the user behaviors of a generation that has enjoyed the Internet and a smartphone for their entire lifetime. Video consumption dominates Internet traffic. Cisco suggests that 80% of Internet traffic is video, while Facebook, Instagram, and Snapchat combine for over 20 billion video views per day. In a post titled “Texting is Out. Spontaneous FaceTime Is In.”, a 21-year-old college student says “You’ve gotta see their face,” while a 19-year-old says “FaceTime was released in 2011, when I was 11. My peers and I literally grew up with it.” We believe a logical extension takes video from social media to communication directly with brands. Airbnb employs Voxpopme to improve voice-of-the-customer insights and help its employees develop empathy for customers.

The investment extends Origin Ventures’ interest in both video and customer experience. Investments in Cameo and ViralGains also have video at their core, while Seattle-based Apptentive helps brands like Starbucks, eBay, and Disney capture customer feedback on mobile devices.

We look forward to working with CEO Dave Carruthers and the global team at Voxpopme to build the leading software company for connecting brands and consumers directly via video, and the red button on their smartphones.

Original post

Perspectives Episode 18: When A.I. really blossoms, how will it affect your approach to research and the wider insights industry?

When A.I. really blossoms, how will it affect your approach to research and the wider insights industry?

Welcome to Episode 18 of Perspectives!

 

 

A.I. promises to have a huge impact on the insights industry with some impressive solutions hitting the market in recent years. In this episode, our panel of experts discusses how A.I is impacting the industry and what the future holds.

Ready to find out more? Hit play on the video to discover the influence A.I. is likely to have on your research and the transformative effect it will have on how we view our insights.

Got a question you’d like us to ask our panel? Let us know by submitting your question via video here.

Excerpts from the vlog

As artificial intelligence gets smarter and smarter and starts guiding more and more of our purchase decisions, and guides us and the things that we buy and spend our money on, who is it really that we’re going to need to talk to from a research perspective?…@BaillieForGood

I think AI, once into its prime will let us start getting high degrees of confidence with potentially smaller amounts of people, if it’s the right people. So I think one of the big things that will change beyond making things quicker, better, faster, cheaper, is it will actually change what we think about as being the most valuable thing that we want to optimize for… @Werdnamai

So when I look at the role of AI today in the world generally but within the insights industry, I say that a lot of the focus is on automation and how AI can take people out of the loop. I think that has a role to play for the future of the industry. But I think far more exciting is the potential for AI to accelerate human expertise, not take people out of the loop…@Jonathan Williams

AI will have a huge impact on the insights industry. The main impact it will have on our insight business, is that it will enable us to inform more decisions across the business. At the moment, the amount of decisions that we can influence using customer insight is constrained…@pd_hudson