How Innovation Drives Bounce Insights

Forbes

Cofounders of Bounce Insights detail how innovation has pushed them forward.   Want to truly know your customer? Check out Bounce Insights. The Irish startup claims its software can determine exactly where your customers are, what they’re looking to buy, and even what packaging draws their attention. How? AI-powered software, of course. Founded by Charlie Butler, Rónán Dowling-Cullen, Joshua Stafford, and Brandon Dooley, Bounce Insights is a market research firm that gathers consumer habits to help brands like Coca-Cola, Unilever, and Tesco better develop and promote products

Transcript

00:00How did you guys realize that this was something that needed innovation? What

00:04what about the industry, what about your experiences inspired this? Yeah well we

00:08didn't have a huge amount of industry experience at the time. I mean I was

00:11studying computer science, Charity was in global business, we were both in

00:14university knocking heads. We started as a consumer panel company so we were

00:18trying to solve the problem of engagement in like survey responses. We did a really

00:22good job of that in Ireland and then we realized that globally it was difficult

00:25to scale but also not as big a problem. There was great panels all over the

00:29world. So we started working with Tesco and Diageo closely and understanding

00:35what problems they specifically had in those markets and really it was focused

00:38around speed and then the quality of the insight that they got at the end. So we

00:42started layering in our AI technology to design the research, gather the data and

00:45analyze that insight. I think we're sometimes you're better off being lucky

00:48than good and we found ourselves in an industry which was dominated by

00:52repeatable human tasks and there's this feeling of no one ever got fired for

00:57using IBM, no one ever got fired for using Ipsos or the market research agency

01:00in that local market. So there's that feeling because when people are buying

01:03data they're usually buying trust and comfort in a decision, they're not

01:06actually truly buying the insight. So we found ourselves in an industry that was

01:10dominated by like very talented, expensive and experienced humans doing every task

01:15which meant it was kind of ripe for disruption but like that wasn't any sort of

01:19like business strategy plan. We kind of fell into an industry and the more we

01:22kind of went into it, the more we realized it lacked a lot of technology, first

01:27principles thinking. It was filled with exceptional people that we felt weren't

01:31giving themselves enough credit and market researchers would scream and not be

01:34listened to and I think we are trying to elevate them to the C-suite in terms of

01:38the types of decisions like every senior person in a brand or every junior

01:41person in a brand should be able to get research but at the before we entered the

01:46space it felt quite inaccessible and truly it was just expensive so only the big

01:50brands did it but if you were a challenger brand trying to come into the

01:53market you would spend all your money on advertising and no money on

01:56understanding why are people buying or how are people buying so it's smarter use

02:00of money so that's why we're trying to really change the thinking around the

02:03industry. Yeah and the people working in Insights are amazing strategists like they

02:08understand their brands really well they understand the problems their brands

02:10have really well but they're having to spend hours every week trying to pick

02:14the perfect question to reach the right consumer which really isn't a

02:18problem that they need to be solving they want to be looking at their brand and

02:20then we take it from there.

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