Epinium revolutionizes traditional market research analyzing product reviews with artificial intelligence.
“Companies should know what prospects read about them in order not to lose sales.”
Please introduce yourself and your Startup Epiniumto our readers!
Hi, my name is Carlos Martínez and I am the CEO of Epinium. We are headquartered in Barcelona, Spain. Our mission is to revolutionize the way in which market research is done. Therefore we developed our platform Epinium Analytics. With Epinium Analytics we make market research in real time possible using Artificial Intelligence to analyze user-generated content in form of customer reviews. We aim to turn Big Data into intelligent information to understand customer experience. Epinium Analytics supports companies to better understand their customers, to continuously track competitors and to discover market trends faster. We encourage companies to analyze product reviews to know what their prospects are reading about them in order not to lose sales.
How did you get the idea to Epinium?
Together with my partner Miquel Ferrando we cofounded Epinium in 2016. We loved to do a little market research before buying a new tech gadget. But it has always been a hassle to get good information and it took us lots of time to check reviews on several online shops. So we came up with the idea of developing a platform to collect customer reviews. We created an algorithm to rank products according to different variables and to sort them by price. Everything was done in a rudimentary way, but within a few seconds, we knew all opinions about a product. We started to share our tool with friends and one of them worked in a marketing department of a big company. He found our tool very useful for his company and saw big potential for the tool to be used in companies, as it could replace traditional market research, doing focus groups and interviews. We received more and more positive feedback and recommendations for features and improved UX. We launched Epinium Analytics in September 2016 and since then we have been working with many big companies and everyday we come closer to our aim to revolutionize market research.
How difficult was the start and what challenges you had to overcome?
On the one hand, since we offer a SaaS platform, from day one it has been a challenge to sell our product to big companies, as those use many, high quality tools and implementing new tools involves considerable time and effort. On the other hand, technological issues arise, when you work with Big Data and natural language processing tools or machine learning. After eight months of developing, now we are convinced to offer a very powerful platform and that we can be a viable partner for big companies.
Who is your target audience?
Epinium Analytics is a B2B business model that analyzes customer reviews. This therefore means that our target audiences are SME’s to Multinationals who have the aim to do market research more efficient and thus to improve the marketing message, to develop better products, to detect issues in the supply chain, to enhance reputation and after all to increase sales.
What is the USP of your startup?
Our USP lies in the information that we filter in real time from customer reviews. We deliver structured, product-specific data, analyzing literally each and every word to understand customer language all around the world
Can you describe a typical workday of you?
I arrive at 8am in the office to have one hour before my employees arrive. I use this hour to plan my day and to finish tasks that demand high concentration. My focus lies on the business and sales and Miquel is responsible for the development of our technology. I meet with customers, investors and partners. For me it is very important to have regular meetings with my co-workers to talk about the feedback from customers and about possibilities for new innovations for our platform. Apart from that, I teach as a guest lecture at my former university to share my experience with the entrepreneurs fro tomorrow.
Where do you see yourself and your startup Epinium in five years?
Our objective is to work with big companies and manufacturers all around the world and to be market leader in analyzing user-generated content.
What 3 tips would you give other Start-up founders on the way?
1) Sell before develop.
2) Work with a customer-oriented strategy.
3) Hire people because of their commitment, their passion for the business and their willingness to learn
More information you will find here
Thank you Carlos Martínez for the Interview
Statements of the author and the interviewee do not necessarily represent the editors and the publisher opinion again.