Neuromarketing: 5 Emergent Startups

Neuromarketing: 5 Emergent Startups

Neuromarketing is nowadays used by almost every company to discover better the customer needs. Find out the 5 innovative startups in this field in the article!


Neuromarketing is a constantly evolving field because it is closely linked to the understanding we have of the brain. Knowledge about the functioning of our head is constantly expanding.

Neuromarketing is the application of neuroscientific knowledge and practices for marketing purposes. Indeed, this knowledge is used to better understand the needs and desires of the consumer. This deeper analysis can guarantee exceptional results.

Neuromarketing also aims to analyze those unconscious processes that take place in the mind of consumers. These are the processes that then influence purchasing decisions and the consumer’s emotional involvement with the brand.

For many years now, product developers, advertisers and marketers have been using social psychology to influence consumer purchases. Companies have found that neuroscience is a great tool for understanding how consumers react to deceptive marketing campaigns, products, and projects.

Neuromarketing uses tools that have a medical purpose for non-diagnostic purposes. Indeed, industry professionals read the brain’s electrical signals and analyze them to give their clients the answers they need.

During the years, a lot of startups have developed their core business in the field of neuromarketing. Let’s discover 5 startups that uses neuroscience for marketing purposes that operates or were born in Italy!



Thimus

Thimus is a company specialized in customer neuroscience, i.e. the scientifically based study of the elements that influence the success of a product, a brand, an experience.

Thimus is a startup born in Brescia which is now based in Bolzano and IT is the first italian entity in the field of neuromarketing startups.

It deals with neuroscience before neuromarketing. Indeed, it studies the neuronal mechanisms that influence consumer choice and optimizes them in the commercial field. The team then apply these mechanisms also to production efficiency, design and architecture.

They work with a series of tools with which they can monitor user activations and analyze parameters of different character. However, the most important tool remains the electroencephalogram. In the Startup they use this medical tool to study users’ reactions instead of for diagnostic purposes.


Neuralya

Neuralya is a team of data scientists, neuromarketing strategists and technical innovators who build and use innovative technologies to understand people and grow companies’ businesses.

Nauralya‘s team have designed and created a platform to help companies. Their goal is to improve the interactions of these companies with their consumers by analyzing the emotions during the buying process. The startup uses innovative technologies to measure consumer reactions and then develop an optimal strategy to grow the business of its customers.

Neuralya’s purpose is to collect all the data gathered from different devices in a single platform. This will make it easier to understand the wishes of customers and their perceptions of what they feel and see during a shopping experience and what influences their choice.


InVRsion

Invrsion is a company specialized in simulating ultra-realistic virtual reality environments. Their goal is to provide B2B customers with a better experience for themselves and their customers thanks to full reality.

With their software ShelfZone®, within the CPG (Consumer Packaged Goods) industry they help brands and resellers simulate any retail space and store management activities. Over the years this reality has managed to help many companies thanks to their house blend of VR (Virtual Reality) and AR (Augmented Reality). They created their innovative tool called by them full reality; this allows you to make the most of your experiences.

Since 2015, the year the Startup was founded, the team has wanted to bring something that was previously only linked to play and fun in other contexts. Virtual reality therefore becomes a tool for building the future shopping experience.


Mapendo

Mapendo is a service that applies artificial intelligence to smartphone advertising. Smartphones are now our extension and therefore monitoring them means studying our behavior.

The platform was developed by a team of engineers and advertising professionals to achieve an excellent result. Based on statistical data of millions of people every day they can understand the next behavior of users.

Their approach combines different real-time mobile traffic generators and thanks to this they can direct the interested audience to the right apps. All of this obviously takes place respecting the privacy of users because name and surname are not disclosed.

Their algorithms build profiles that establish a person’s most likely behavior. They have been collecting data for two and a half years and analyzing it thanks to a platform created by them that suggests useful correlations.


Smartlook

Smartlook is a tool for understanding users at the micro level. It was born in 2016 with the analysis of web data and then over the years has also begun to analyze the data of mobile apps.

Smartlook carries out a qualitative analysis of websites and apps that can help companies answer the doubts behind the actions of their users. Thanks to visitor registrations, this startup allows you to see what a user is doing on the website and to know if they perform specific actions.

With Smartlook you can see where users have clicked with the mouse, what they have written in the forms, where they spend their time and how they explore each page. In this way it is possible to understand if there are user experience problems, why a visitor leaves the site, or even understand what convinced a customer to make a purchase.


If you liked this article and you are interested in the world of startups, read more articles about it in our blog!

Interview with Sara Sabin, Transformational Coach

Interview with Sara Sabin, Transformational Coach

Farrelly-Caizzone & Associates had the honour to interview Sara Sabin a professional, seasoned entrepreneur, career chameleon, and transformation expert.


Sara Sabin is an entrepreneur and a transformational coach. Sara helps companies perform better in the future by optimizing leadership skills. If the leaders and the team have better leadership skills, success in the years to come is assured. All of this together will lead to greater profitability.

Sara works with leaders who want to improve their personal impact but also that of the company. She teaches them to take on a powerful leadership identity and to create a good and strong team culture suitable to face business challenges correctly.

She became an entrepreneur by accident. After a law degree and working as a tax accountant, she decided to follow her desires and step by step she became an entreprenur, even if she calls herself “the Underpreneur“.

Sara is a transfromational coach. She helps entrepreneurs and leaders who feel they have potential within them to bring it out. Even though they’ve had good results so far, she helps them build a mindset for success.

Her activity as an entrepreneur began in 2014 with the foundation of a start up. But she has since evolved into much more. Over the years Sara has helped leaders and organization with excellent planning and execution results. She tries to externalize the change taking place within these leaders.

Her approach also consists in making sure that every member of the team embraces the vision and mission of the company. In this way the work environment will be more peaceful, productive and effective and will guarantee better performance.

Her mission is to make his clients the leaders they were born for, leading a thriving team and leading a successful intelligent business.

Read our interview to discover more about her and her job!


Questions for Sara Sabin

  1. Hi Sara, could you please tell us something about yourself and your work?
  2. How did you come up with the idea of ​​helping people to develop a leadership style that works for them?
  3. What inspired you to become a transformational coach?
  4. Who are your primary clients? Are there common traits?
  5. Do you work with teams or single people? What do you like more of these two?
  6. What are the characteristics that distinguish a good leader from another not very competent?
  7. How do you choose the leadership style that best suits the person and context you are dealing with? And how do you manage the conflict if the leadership style suitable for the content is not the one suitable for the person or vice versa?
  8. You deal with so many aspects of the people’s life you work with: how is to manage all of these?
  9. How do you choose a project instead of others? What are the factors that influence you?
  10. On average, how long does the process of transforming your customers last?
  11. After having completed the objectives set, how does the relationship with your customer evolve?
  12. Do you have any advice for new entrepreneurs who want to enter the market with their business idea?

1. Hi Sara, could you please tell us something about yourself and your work?

I am a transformational leadership coach and consultant. I work with leaders of innovative companies wanting to reach the next level of impact and success, by creating more emotionally smart and focused leaders, who are able to embed and maintain a high performance team culture.

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2. How did you come up with the idea of ​​helping people to develop a leadership style that works for them?

After years of leading start-ups (I founded two of my own) in a way that I thought I should, I was exhausted and burned out. I knew it was time to find out more about how I could lead in an authentic and purposeful way, rather than trying to emulate old models of leadership. I made it my mission to learn how to get the best out of yourself and others through leadership.

I started really understanding that the old paradigms and perceptions of leadership (top down, authoritarian) were not as effective, in an exponentially changing business environment. We need to be agile, pivot and innovate in line with future trends at light speed, to stay relevant as a business.

The old, hierarchical style of leading with decisions made at the top and lack of diverse thinking, aren’t as relevant any more. We need to lead a high performance company culture, rather than ‘command and control’ style. We need highly competent, purpose driven leaders. And we need to develop the leadership skills of our teams as well.

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3. What inspired you to become a transformational coach?

My entrepreneurial journey started in 2014, with my first start-up, that I worked on whilst still in my corporate career. I left the corporate world (the multi family office world) at the end of 2015 and have never looked back. I have founded two start-ups, building them from the ground up, raising funds and managing a team; as well as consulting for various other start-up companies.

I found transformational coaching, for myself, when I was looking for more purpose in my life and in my next business venture, and when I came across it, I never looked back. It opened my eyes to new possibilities for me, and showed me how I could combine purpose with profit.

I realised how changing mindset and beliefs allowed you to achieve your goals on the outside more easily and with greater satisfaction.

I knew that that was how I wanted to work with other growing companies as well. Combining my love of business, with the deep work of coaching.

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4. Who are your primary clients? Are there common traits?

My primary clients are the owners and founders of fast growing companies, in industries that are evolving rapidly and innovative, such as tech, IT, and software, or those more forward thinking companies within traditional industries.

The primary traits of the leaders at these companies are that they believe in the importance of personally developing themselves as leaders, they started their business in an area they loved to make an impact and they want to embed and maintain a strong team culture. And they want to grow their business – fast!

The companies I work with are already successful and growing and they need help to reach that next level.

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5. Do you work with teams or single people? What do you like more of these two?

I work with leaders on a one-to-one basis and/or on a group basis; and I also run employee workshops, so I can help the leaders to embed a culture of leadership and accountability at the team level.

I have to say though, I love that deep one-to-one coaching with leaders the best! But I recognise that sometimes there is the need for a rounded solution and so, I integrated the workshops as well.

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6. What are the characteristics that distinguish a good leader from another not very competent?

The best leaders in the world realise that they are constantly learning, and that learning never stops, no matter how experienced you are. The way that we have always done things may not always be the best way now or in the future.
Great leaders have a strong sense of their purpose and WHY behind what they are doing.

The other key ingredient in star performance leadership is emotional intelligence. It enables you to get the best out of yourself and others.

Travis Bradberry, an emotional intelligence expert, studied the emotional intelligence of personalities within the workplace, and discovered that emotional intelligence was the strongest predictor of high performance in all types of jobs.

In a survey carried out by TalentSmart, of which Dr. Bradberry is co-founder, they found that:
– 90 percent of the top performers were high in emotional intelligence, with a higher average income per year and an increase by one point of emotional intelligence contributing to as much as an extra $1,300 in annual salary.
– 20 percent of low performers were high in emotional intelligence.
– Emotional intelligence also accounted for up to 60 percent of the job performance for supervisors through CEOs.

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7. How do you choose the leadership style that best suits the person and context you are dealing with? And how do you manage the conflict if the leadership style suitable for the content is not the one suitable for the person or vice versa?

I encourage leaders to be able to fluidly move between different leadership styles. This becomes easier as you become more self-aware. Next, they start to embody the type of leader they want to be, by taking conscious steps towards that.

Although, we may adapt to a situation or context, when we know more firmly who we are and where our strengths lie, we simply bring out different facets of ‘who we are’, rather than acting from a place of insecurity or needing to control everything.

Sometimes, we need to be tough, but in general, we get more out of people, when we can learn to support them where they are at. Incorporating coaching, into who you are as a leader, means that you are also encouraging your team to begin to think and act like leaders as well.

As a team, we can achieve much more, with everyone working together in their ‘zone of genius’ than we can achieve by telling people what to do and how to do it.

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8. You deal with so many aspects of the people’s life you work with: how is to manage all of these?

I look at the whole person, as a human being. Whilst the primary objective may be professional related, if there is something that is going on in their life, that should be acknowledged and worked through, in order to allow that person to bring their best self to work, we work through that. In general, the more satisfied we are in life, the better we are at work.

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9. How do you choose a project instead of others? What are the factors that influence you?

I am very fortunate to have had the opportunity of working with amazing clients, who I loved working with.
I believe that for a coaching relationship to really work, there needs to be that trust and resonance between the coach and coachee (especially so for 1-2-1 to work). That is point 1.

I also pick projects for interest – am I interested in what they are trying to achieve? And lastly, do I believe that I am the best person to help them? And do I feel like I want to take up that position of trusted coach/consultant?

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10. On average, how long does the process of transforming your customers last?

I work with leaders and companies, usually, over a period of 6-12 months to get the longest lasting transformations.
6 months is enough to see that transformation in yourself as a leader. But sometimes that support over 12 months is key, so that you also have the independent consulting support that you need for business decisions that aid growth.

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11. After having completed the objectives set, how does the relationship with your customer evolve?

After working with me, on a one-to-one basis, the client has become more self-aware and has learned to manage their internal environment better. They are more sure who they are as a leader, and have a toolbox with which to approach the way they lead.

I stay in touch with my clients, and often they will make referrals, or there may be group or team work within an organisation that they need help or support on.

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12. Do you have any advice for new entrepreneurs who want to enter the market with their business idea?

  • Pick a business idea that you love and care about. Purpose will get you through the hard slog that is often associated with starting a business.
  • Find your own way – there’s a lot of noise out there. Learn to make your own decisions, try things out for yourself and ultimately, find a way of doing business that works for you.
  • Set big goals and make small steps towards them every day – small steps taken consistently add up to big things. Focus on the important things and then, act.

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We want to thank Sara for this interview: we had the opportunity to discover more about the leadership styles that suit with the business.

To stay updated on the activities of Sara Sabin, these are the main links:

Discover more interviews with start up founders and business experts in our blog!

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Best Platforms for Luxury Fashion E-commerce

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Interview with Vaibhav Dabhade, Founder of Anchanto

Interview with Vaibhav Dabhade, Founder of Anchanto

The guest for this interview is mr. Vaibhav Dabhade, founder and CEO of Anchanto, a startup headquartered in Singapore, specialized in offering enterprises tailored softwares for their e-commerce in the Pacific Asia region.

In the Asian market e-commerce’s growth has been on the rise in the latest years, with a revenue expansion around 13% and a user penetration likely to jump from the current 53,3% to 68,2% by 2025, according to researches.

Anchanto was created in order to be a support for all the companies that intend to explore this massive market, creating Saas programs and guiding foreign companies through their expertise, thanks to their offices in 14 countries between Pacific Asia and Oceania.

Harvard Business School graduate Vaibhav Dabhade was one of the founders and is also the current CEO of the company, founded in 2011.

During its decade of operations Anchanto gathered a total of 27 milion dollars in funding, with 16 of them collected in a series C funding last October.

In this interview we will talk about expanding a business internationally, obtaining a partnership with household name companies, the future of e-commerce and more.


Questions for Vaibhav Dabhade

  1. Hello and welcome to our blog! Could you please introduce Anchanto to our readers and say a little more about the company?
  2. How did you come up with the idea of launching this startup?
  3. Anchanto has 9 offices scattered all around Asia. When did you decide to expand internationally?
  4. Have you experienced any particular problem trying to expand your business abroad?
  5. In your opinion, should a company maintain its identity and have the same business model and mentality in all countries or should it try to adapt to the environment in which it operates?
  6. Are you planning on expanding even further? Maybe outside of Asia?
  7. What advice would you give to a startup planning to expand abroad?
  8. You have just announced a partnership with Panasonic for their e-commerce in Asia. That’s an impressive result! Tell us more about this deal.
  9. Your core business revolves around e-commerce. How do you think the scenario will change in the coming years?
  10. If you could give just one piece of advice to an aspiring startup founder, what would it be?

  1. Hello and welcome to our blog! Could you please introduce Anchanto to our readers and say a little more about the company?

Hello, thank you for having me! As an introduction- Anchanto is a global B2B SaaS company headquartered in Singapore, with customers & operations across 14+ countries. Through our proprietary SaaS products and global partnerships, we  enable Brands, Distributors, Retailers, eCommerce Service Providers, SMEs, 3PLs, and Warehousing Players to run more efficient, error-free, and coherent end-to-end eCommerce operations.

We currently serve a large customer base comprising of SMBs and global companies like L’Oreal, Panasonic, Nestle, Pos Malaysia, Valiram, Luxasia, DHL eCommerce, Asendia, GreatDeals eCommerce Corporation and many more.

Over the past years, I could say we focused on accompanying three main types of projects; enabling brands to implement their Direct-to-Consumer (D2C) strategy, supporting retailers and distributors develop Online-to-Offline (O2O) approaches, and transforming traditional B2B warehousing/Fulfillment companies into B2B and B2C eCommerce service providers.

With a philosophy to make eCommerce management, logistics, and cross-border trade simple for everyone through technology, we operate with offices & teams across Singapore, Malaysia, Indonesia, The Philippines, Thailand, India, Vietnam, South Korea, and Australia.

tram-Anchanto
Vaibhav Dabhade with some of Anchanto employees.

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2. How did you come up with the idea of launching this startup?

Coming from a family of entrepreneurs, the passion for starting something of my own came to me at a very early age. Watching two generations successfully build and run brick-and-mortar logistics businesses, I developed a keen interest in logistics. Owing to my proclivity towards technology, I went on to study engineering, and thereafter completed executive education from Harvard to learn the intricacies of business and management.
Once I was ready to take the entrepreneurial plunges, I saw an opportunity to combine my passion for technology, logistics, and the emerging eCommerce space. This led to the inception of Anchanto – a SaaS technology company that helps businesses manage end-to-end eCommerce & logistics operations, and delivers an ‘enchanting experience to its customers through its proprietary SaaS platforms.’

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3. Anchanto has 9 offices scattered all around Asia. When did you decide to expand internationally?

All our international expansions have been results of a strong product fit, increasing customer demands validated by sizeable prospects, and overall growing need for stability in a particular market. As Singapore and Malaysia share a lot of similarities, it happened to be the most natural selection for our first international market expansion. Singapore and Malaysia still represent the two largest eCommerce markets in Southeast Asia accounting for more than 50% of the online retail sales.

 
After Malaysia, we expanded to Indonesia and the Philippines and these markets nations happened to be our core markets for a while. Then, we went on to explore and expand to markets like Australia, South Korea, Thailand & Vietnam due to the growing need and demand for our technology.

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4. Have you experienced any particular problem trying to expand your business abroad?

Honestly, we never faced any critical challenges while expanding to new markets.
But we did have some growing pains when we started hiring in Malaysia and Philippines. Due to lack of awareness and lack of clearly defined roles, we struggled to find the right people in the beginning. 

But, gradually as our business grew, people started recognizing Anchanto, and we were able to build the right team and expand. All the more, our first hires and customers were some of our best endorsers. Our employees took the chance of talking about our solutions, our company, our goodwill wherever they found the window. This helped us improve our nexus not only for hiring but it got to our customers. Additionally, whenever our customers realized we were looking for human resources they always helped in every way.

Other challenges were more global in nature and were associated with the Laxity and complacency in the minds of traditional businesses to undergo transformation. But with our constant efforts (more recently due to the pandemic) these businesses were compelled to future-proof their operations and undergo change. 

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5. In your opinion, should a company maintain its identity and have the same business model and mentality in all countries or should it try to adapt to the environment in which it operates?

I think it is really important for companies to adapt to the local needs and challenges. Operating in a culturally diverse and complex market like Southeast Asia, we have realized the power of localization, and it has always been at the core of our offerings. 

We understand that every market is different, each market has its own set of customer needs, and hence the approach to market cannot be the same. This is exactly why our products are flexible and adaptable to accommodate the varying needs of each market. We’ve always followed our customers’ feedback religiously, and this has helped us address market-specific challenges. 

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6. Are you planning on expanding even further? Maybe outside of Asia?

Yes, definitely. As the demand for our platforms continues to grow rapidly across markets, we have set ambitious growth expansion plans in the coming months. Our eyes will be turned towards Europe and the USA in the near future. But first and foremost, we want to strengthen our position further in our core Asian markets.

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7. What advice would you give to a startup planning to expand abroad?

I would say that you study the market thoroughly- know your customers’ needs, know your competitors, educate yourself with different laws & regulations, cultural and community differences and analyse your business environment. 
After that, you can figure out the right time to enter the market and understand what challenges you might face.

This is when you should start asking all the right questions like
– Would our product satisfy strong market demand? Or do we need to actually have a budget to create a demand?
– What would be the acceptance of the product? And that too of a company with no local brand presence?
– What would be the proposition, if we target the market with the same product as we did in others?
– What would be the right messaging for the market? Do we need to localize or behave the know-it-all foreign brand?
– What would be the customer behavior towards our product, especially about the support and training after the customer subscribes to our platforms?

Once you have figured out the answers, you can define your strategy, dive right-in to set up your office, and start hiring the local workforce without further delay.

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8. You have just announced a partnership with Panasonic for their e-commerce in Asia. That’s an impressive result! Tell us more about this deal.

As the retail space is going through profound changes, brands’ relationships with their customers are also constantly evolving. Hence, Panasonic felt the need to get closer to them, through a more Direct-To-Consumer (D2C) approach. Also, with the increasing demand for eCommerce, Panasonic wanted to make their products easily accessible to everyone. 

Besides, Panasonic also aimed to unify its backend operations across countries, teams, and business units, and consolidate their inventory control. Our team identified the pain points for them and offered a solution to integrate the brand’s critical systems with Anchanto OMS, and that is how the partnership began.  Panasonic will leverage our omnichannel Order Management System (OMS)- SelluSeller, to improve its eCommerce capabilities and have a single source of truth for real-time sales, inventory, and Product information for all online channels.

Through this partnership, we will help strengthen their foothold across the APAC region. Our technology will first be deployed in Singapore before rolling out in the rest of the SEA Markets.

With a strategic growth plan for 2021, Panasonic will rely on Anchanto’s technology to drive consumer engagement and enable the development of a unique experience for its customers, across multiple touchpoints, and along the whole customer journey. 

The implementation of the SaaS system is aimed at bringing coherence to Panasonic’s business operations across different countries, models, and systems. In the longer term, the company is aiming at a 4x growth of its eCommerce revenue share through this strategic move.

We are honored and humbled to be working with Panasonic and enabling their long term omnichannel strategy.

group-Anchanto
Group photo of Anchanto’s team

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9. Your core business revolves around e-commerce. How do you think the scenario will change in the coming years?

As we look at the future in the aftermath of the pandemic, one thing remains clear. Every traditional business will have to undergo digitization in order to eliminate the risk of being obsolete.


Brick & mortar stores may have lost their luster, but we are well aware they are not completely dead, and never will be. But with the parallel growing demand for eCommerce, we will witness a ‘New Retail’ in the coming months which will necessitate businesses to think ‘omnichannel’.

Hence all actors will soon have to start thinking about equipping themselves with the right technology and upgrade the value and experience they offer to their customers. As a result, even the logistics players will have to transform themselves to answer this new requirement coming from eCommerce players.

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10.  If you could give just one piece of advice to an aspiring startup founder, what would it be?

Entrepreneurship is a very very very difficult yet extremely fulfilling and rewarding job. Always do remember, one cannot be half-pregnant.
If you really want to go for it, just go for it without a ‘Plan B’. If you fail at what you are doing, keep trying variations but never ever let go once you start walking on this path. When you face the toughest challenges, only your willpower and determination can help you win them over and help you reach the success and glory.

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We want to thank mr Dabhade for joning us on our website. Anchanto proved itself to be a succesful startup, that managed to build a strong presence on a vast market like Pacific Asia. It was very interesting to hear from him about all his secrets and tips to start an international business.

If you liked this interview, than check out our news section, where we interview founders of succesful startups and publish international business news.