Happy MR Podcast Podcast Series

Ep. 122 – Zlatko Vucetic, CEO of FocusVision

Today my guest is Zlatko Vucetic, CEO of FocusVision. FocusVision is the only comprehensive research software solution to capture real-time human insights and analytics.

Zlatko took over as CEO of FocusVision in late 2017. Under his leadership, FocusVision has won a prestigious MarTech award for customer management.

FIND ZLATKO ONLINE:

Twitter: @zlatko_vucetic

LinkedIn: https://www.linkedin.com/in/zlatko-vucetic-b328b71/

FIND US ONLINE:

www.happymr.com

Facebook: https://www.facebook.com/pg/happymrxp

Twitter: @happymrxp Instagram: @happymrxp

LinkedIn: https://www.linkedin.com/company/happymarketresearch/


[00:00:00]

Hi. I’m Jamin Brazil and you’re listening to the Happy Market Research podcast. Today my guest is Zlatko Vucetic, CEO of FocusVision. FocusVision is the only comprehensive research software solution to capture real-time human insights and analytics. Zlatko took over as CEO of FocusVision in late 2017. Under his leadership FocusVision has won a prestigious MarTech award for customer management. Zlatko, thank you very much for joining me today.

[00:00:29]

Thank you for having me on the show Jamin. I’m delighted to be a part of your show. I’ve been following over the last couple of weeks and it’s been truly amazing to see what type of conversations you’re having with various individuals and it’s very, very impressive that you’ve been able to have a good conversation with a lot of the various brands and enterprises out there and their relation to market research. So good work to you guys on getting something like this up very, very quickly.

[00:01:02]

Hey, thank you very much Zlatko. A little bit of a plug for the show, I’m starting to get inbound requests from major brands, most recently MasterCard to be on the show. So it’s actually pretty exciting to see how the value hypothesis is getting proven out here at Happy Market Research, which is the brands’ needs have shifted on the insights. They want to communicate that to the agencies so that agencies can better meet and address those gaps meaning that insights becomes really the rudder of the ship of these business decisions. So it’s an exciting time for me honestly and a hell of a lot of fun.

[00:01:44]

So you’re basically the Henry Kissinger of market research industry.

[00:01:49]

I hadn’t thought of it like that but there you go.

[00:01:54]

That’s good. Somebody has to be in the middle and translate the both parts as one and that’s not an easy task.

[00:02:00]

Zlatko and I, just for the audience’s benefit have a long-standing history of working together for the better part of gosh over two years. We were introduced originally in London about two and a half years ago and I absolutely fell in love with his work ethic and intelligence. He absolutely blew me away from a production or productivity perspective working with me when I was the CEO of FocusVision. And when I recognized that that role was not a good fit for me, I worked hard alongside him and the rest of the board in order to make sure that there was a smooth transition of leadership, which he assumed that CEO mantle very effectively. So I wanted to just kind of give that preface to the show so that people understood one, where we’ve come from; and then two, gosh I was in New York was it last week or the week before and we had dinner. Thank you very much by the way for buying. I do appreciate that.

[00:03:01]

Yes, of course. And thank you for clarifying that. A lot of people in the industry get a little bit surprised when I tell them that I spoke to Jamin or I met Jamin. That’s still a funny thing to experience but as you said it yourself, yeah, I think it was amazing working with Jamin at FocusVision. It was definitely a different experience for me understanding not only the entrepreneurship that Jamin had but also the innovation and really understanding the passion behind building a good product that he built over the last decade. So it was a very, very good introduction and I would say even go that far that if it wasn’t for Jamin, probably I never would have relocated with my family to the United States. So if that’s a good or bad thing, I don’t know. People ask me is that a good or bad thing. It has yet to be determined, but I think so far it’s been an awesome journey. So I actually owe that to Jamin as well.

[00:04:01]

Awesome. Thank you very much. So let’s just jump right in. Our standard opening question, what do your parents do and how has that affected what you’re doing today?

[00:04:10]

So my dad was a – he’s retired now. He was a diplomat. My mom is a financial accountant. I think my parents for me – how does that affect what I’m doing. So growing up in Denmark I think – the one thing that you get always taught through either the education system or the society is that you have to make your own money. So the first job you have in Denmark is when you’re 13-years old and that can be everything from delivering newspapers to working in a supermarket basically removing the empty bottles from the assembly line and putting them in the boxes and recycling them and sending them back to Coca-Cola and all the other distilleries out there. So I guess that’s – I don’t know how my parents, how they’ve influenced my upbringing and some of the work qualities that I have but I guess my – I think my upbringing in Denmark has a lot to do with – for me a job is a job and there is no – every job out there is equally worth it. And every time when you speak to somebody in Denmark they will tell you that before they were 21-, 22-years old, they already had nine different jobs working either as a dishwasher, cleaning things, and because we are in a very non-hierarchal society you will see people from all kind of classes from society working next to each other. So it’s a very normal thing. So I think that part has taught me that there’s always a very important thing that you do your job well regardless of what kind of job that is and that’s something that stuck with me ever since. So I’m not sure how much I can dedicate to being a part of that type of society versus my parents. I think the part where my parents have influenced me quite a lot has been on the honesty side. I’m extremely honest and direct. And I think it’s very, very important that people are especially in the business. It’s not always the case in a lot of the countries and companies that I worked with over many years that that’s always a right strategy to pursue. And it took me some while to understanding what people mean with honesty and candor versus what that truly means when you start translating some of those elements. But that’s something that I’m getting a little bit used to it a little bit more now but I guess that’s definitely a thing that I have from my parents in terms of being very, very candor and being very, very honest. That can be either job-related or a private situation or something else that needs to be addressed in life. I still truly believe that if you’re not really honest with yourself in terms of what you need to do better, how you can improve, then you’re never going to reach the final goal that you set up front.

[00:07:04]

Yeah, you see that trending over the last year, this whole concept of radical candor or radical transparency inside of corporations. And then also developing self-awareness at an individual level so that you’re operating inside of your skill. We heard that in the very first episode with Merrill Dubrow how he knows where he needs to focus and he focuses accordingly. Certainly seen that play out. Also on the grit side, I think that’s super-interesting. How did this grit or this work ethic help you succeed so profoundly at your time at Saxo Bank. You went from really an entry-level role there and within 8 years were an EVP.

[00:07:51]

Yeah, that was a great ride. I think at that time we were one of the fastest growing companies especially in Europe; in Denmark for sure. It was – there was a lot of challenge. There were two things that were driving that primarily. I think I’m extremely competitive and that drives a lot of my – a lot of the engagement that I have in terms of the people, businesses, and everything else that I do in life. I still hate to lose any kind of video game or card game to my 7-year old daughter. And I still get upset with that. But I think that’s one of the parts is that I’m extremely competitive. I want to succeed always. The second part is that what’s been extremely important for me is to undertake challenges that nobody wanted. So a lot of the different things that people were doing and saying well I don’t want that opportunity because there’s so much risk and there’s so much change in it that’s going to affect me on a personal level or on my work level, I’ve always said yes to those challenges. So I think that’s – I think in life if you want better, first of all you need to – you never stop learning and you always have to learn new things. And the second thing is you always have to take some risk in terms of the things you’re doing. Sometimes they work out; sometimes they don’t. But in general the people that I’ve seen taking a lot of – and I think Jamin, you know this better than anybody else in terms of the entrepreneurship and people being very innovative and taking slightly more risk than anybody else are the people that always succeed. In the end, it is about the hours that you put as well. I understand the entire concept about working smarter, not harder, but a lot of the things that we are trying to achieve in our lives is also a matter of the time that we take to understand them. I always go back to Mr. Michael Jordan saying for – he had to miss 10,000 shots before he understood how to make the last great shot. So I think that is extremely important in business as well. We have to fail and we have to fail many times to understand where we can improve, where we can become better, and most importantly how can we surround ourselves with the people that can improve us because we can’t really have all the competencies at the same time. So think that for me it’s been more about the grit, the risk, and being extremely competitive in what I do. And I don’t – I used to be a competitive athlete in the past so people ask me sometimes is it because of the competitiveness, because of you’re playing a sport or you were actually quite good at sports. I said no, I was actually OK at some sports but it wasn’t really that it was driving. And I think for me particularly, I have – I grew up in Denmark but my background is Croatian. So I think growing up in Denmark with a first name like mine you always feel that you have to be a little bit better. It’s not really how the society portrays you or sees you but I think there is something latent in your own soul that feels that this is something that you have to do – you have to be three times better than anybody else in order to get a chance. And I think a lot of people have it like that, especially people that have a different background than other people in the country where they’re living. So I think that’s been a prime driver of my will to succeed. So – and it still is. I guess in America there’s a lot of more people that can pronounce my name so it’s a little bit easier here but it’s something that really not only makes me outcompete on a lot of the things that I’m competing about but really think about how do I plan and how do I also manage some of the risk that I’m taking business wise.

[00:11:51]

How do you think – reflecting on being an outsider from marketing research, Chris Fanning also – one of my favorite CEOs in the space, he was the previous CEO of SSI prior to the merger with Research Now. How do you think that informs you and your business decisions giving FocusVision perhaps an edge?

[00:12:15]

I think the difference – first of all, I think the market research industry is an extremely exciting one. I started my career actually in market research doing qualitative and quantitative work for Danish Royal Hospital when I was 18-, 19-years old starting in the business school. So I worked with that in the past but I think the biggest difference here is that when you – with my background working with other industries that has a lot of academia in it as market research has but also went through a similar change when it comes to technology and enablement of technology you see some of the similar patterns. And I certainly see some of the similar patterns that I’ve been seeing in other industries happening in market research space. So I think – I’m not saying that you can predict what’s happening in the industry but you have a more casual relationship with the industry, which sometimes gives you a little bit of easier way to navigate through that. And I feel that a lot of people that work in a specific industry for many, many years from time to time they do have a problem of disconnecting from that and taking an outside view on a lot of their solutions. I think technology today and software in general has enabled us to look across the industries and start making some informed decisions about how to transform those industries. So I think coming from outside, it gives you the edge that you don’t feel obliged to adhere to certain rules that are imposed by the industry from the beginning where you’re actually – when you grow up in the industry. I think when you grow up in the industry it’s slightly different. There’s only one – not only one way of doing it but there are certain – I guess there are certain perceptions and paradigms that’s ruled the industry and that nothing can be changed and that’s not specific to market research industry. You can find that across most of the industries. So I think that’s the edge that you’re actually provided is you actually think slightly different or you see the same story that you have seen just by – just in a completely different industry.

[00:14:28]

Yeah, I completely agree with the perspective. I think the longer a management team works together, the easier it can be or maybe the greater the temptation is to keep doing the same thing over and over again. And then you miss the level-up opportunities inside of an organization. And I think having that value – the lens as the value from the outside are saying hey listen, I’ve seen the same script before but we can do x, y, z and apply that whether it’s social media marketing or whatever that may be a little bit outside of the comfort level of normal – of the normal industry.

[00:15:08]

And I think – I fully agree with that. And I think just to give you another example. I think when you look at the market research terminology sometimes it – I don’t think that the big data movement that we saw a couple of years ago, which is kind of now still a core part of the strategy for most of the enterprises out there. It’s kind of hasn’t really benefited the market research industry. And the reason for that is primarily because of the academia. And I remember the first couple of – so we were one of the first at that point in time, financial institutions that were utilizing big data to create modeling around customer behavior. So basically mimicking what Amazon does and Netflix in order to understand your behavior. And I remember we never became successful in most of those parts and the primary reason for that is that a lot of the findings were drawn in academia rather than something that’s actionable. So you will have a presentation by analytical teams where 40 slides out of 45 were mathematical models. So instead of just assuming that we trust people that they know how to do their math and just go to the findings, and the actionability of those findings, we kept refining the methodology and going back to one source of the truth. So then you end up spending two, three years on figuring that out and before you – and when you’re done – when you have the final solution none of the stakeholders in the organization actually believed you could deliver something that’s actionable. And I think that’s been a little bit problematic. And I think we need to go back to extremely not only fast data collection but also actionable insights. If those insights are not deliverable in a form that the company can act upon extremely quickly it’s going to be very, very difficult to have data-driven, big data strategy as a part of the core strategy because you’re going to lose the attention of the stakeholders.

[00:17:01]

I love that. ROI on research. Every project needs to drive cash into the business. And I think that is a major transition that has been taking place over the last few years inside of the brands.

[00:17:15]

Yeah, and as I said, sometimes people – when you speak with the people within the industry they make it seem like a tradeoff between the value added versus the academia or the right way to do it. It doesn’t have to be like that. I think that the faster we can combine those two schools of thought, the faster we can actually deliver something very, very useful, something that is correctly done but also something that drives the action. And I think right now as one of my friends said once is everybody has one fear, and one fear only regarding what product they’re building and that fear is Amazon. Amazon is right now driving any – every fear in any product organization or any organization that’s developing something that’s extremely client-driven. And I think that forces the enterprises to think differently in the way how they actually approach this market space, but I don’t think replicating that model is going to make them successful because we cannot all be masters at all but I think it has been a little bit of a – at least what I can see sometimes in the industry is there’s a lot of discussion on academia versus quick insights. And I think that’s a part that needs to be merged if we want to be successful at creating that return on investment on the research.

[00:18:44]

Congratulations on the MarTech award for customer management.

[00:18:45]

Thank you. We are the well-best hidden secret in the world. We get questions asked how many employees do we have in your startup. For the record, I would like underline that we’re not a startup. We’ve been around since 1919 in some shape or form or size. And we’ve expanded quite significantly over the last five years through acquisitions. We have a number of offices worldwide and more than 400 employees employed. So we’re definitely not a startup. And we are really honored by being recognized by the MarTech [INAUDIBLE] and the award that we received for the best innovation on the customer experience part because I truly feel that we have great products and we’ve been a part of the DNA of market research for the last 20 years but nobody has been recognizing that in the industry. So it’s good to see us getting the recognition and we are very happy for the recognition as well.

[00:19:43]

We have done a segmentation of our listenership, which we’re now coining Insights Nation Zlatko. What do you think about Insights Nation? Is that good?

[00:19:54]

Yeah. Insights Nation is good. Just make sure to trademark it before Live Nation comes to it and they say it’s too close to that name. But Insights Nation is probably right. So I think there’s a lot of discussion now on how to card frame the terms around the people within it. I think I always look at Sales Force and all these guys having their marketing cloud, client cloud. So you need to think about in terms of what can we actually – how do you bring all the people together. But Insights Nation, it sounds like something that is extremely catchy.

[00:20:32]

So with our segmentation, we’ve identified about half the audience are people that are looking to get jobs inside of either a brand, doing an insights function or a company like FocusVision where Ipsos, etc, etc. If you were entering into your career, so you’ve just graduated, what are a few steps that you would take in order to ensure that you got a job in marketing research.

[00:21:01]

I think I would try to understand first of all what’s happening in the industry. I think the industry is going through a lot of changes right now. And there is a lot of interesting, exciting things happening because of the changes of technology. So I would do my homework very well trying to understand how that fits the picture in terms of where I want to be a couple of years from now. Now I’ve also told you that I’m very, very – well, I do like to take risk, so probably my advice is not worth anything for the young kids out there in terms of what they should do. But I would actually look at the growth that you’re seeing in a lot of the large enterprises where they’re actually establishing large organizations that need to act extremely fast based on the customer feedback and based on other insights that they’re receiving from their clients. I think that would be an interesting thing to start but most of the people that I’ve met with the enterprise clients that they’re sitting on their various insights/analytical teams or any product teams or anything else out there. They started their career working in market research agency space first and I think it is sometimes good to start your career there and understand the basic of what you’re supposed to do

[00:22:16]

That’s exactly in line with what we had learned from Rogier at LinkedIn. That you could have that benefit of agency then go into brand or vice versa, but both inform each other.

[00:22:32]

Correct. I think it’s – once again, it’s one of these other discussions that it’s either one or the other and I don’t see it like that. I do see it as a more of homogenic environment where the brands and market research agencies need to create a better access to talent because the biggest problem they have out there is that there’s a fight for talent, regardless of which industry you’re in and in order for market research industry to become better at attracting that talent, there needs to be a change in how – what’s actually being offered out there in terms of the potential career but also the tasks that the people are doing. And I think that part hasn’t really been well defined and that’s primarily because market research is done by several – in several parts of organizations. So that takes some time for a lot of people to understand where they should actually go. But I think there is a lot of work that needs to be done because the fight for the talent base is really, really challenging. Everybody wants to work with Bitcoin, robotics, virtual reality, augmented reality. So when you start speaking about the research analytics it sometimes tends to be slightly a second priority for a lot of the people out there starting their career in market research. But I do believe that right now this is probably the most interesting area to be in because you’re dealing with data, you’re dealing with customer experiences, and our ability to change a customer experience within a product or a brand has never been larger. So enabling that kind of possibility to really influence the client journeys and customer journeys is something that you don’t really get to do in any other industry. So I think we just need to do a better job in terms of communicating the opportunities rather than explaining to people what kind of methodologies they will be learning, how they can apply this in their work.

[00:24:44]

That’s brilliant. You know, you’re right. Getting a job is not just about you presenting yourself correctly or going through these steps, jumping through these hoops to get the interview but also – but you’ve got to have the attraction as the organization to get that top talent. I know that you’ve opened up an office in New York. I assume that was part of the reason is to get access to talent. What is FocusVision doing in order to tell that story that you just told to attract that talent?

[00:25:14]

Once again, I think right now the biggest thing that we are trying to do is really to tell the story about who we are today and where we want to take the business. And in terms of where do we want to be ten years from now. And I think that’s the story that you can attract people and you need to have that vision. If you don’t have the vision, it becomes not only difficult to get the right people but it also becomes very, very difficult to recruit people that want to have an ability to change. Money is not everything. I used to think otherwise for a lot of parts of my careers and then I became wiser as well many years ago. People do look for opportunities to evolve and to develop a skill set they don’t have. So we’re actually trying to facilitate that as much as possible. We are – most of our employees have career plans in terms of where we want them to be. I’ve been saying to each one of my employees since day 1 that I don’t want them to be here forever. I actually want to deliver their – I want them to be able to have great careers with us and then go and work for any of the dream companies that they want to do and have the dream job that they want to do. But I want to have an ability to one day to turn around and say that that person that’s a CEO of Google today, he started his career in FocusVision and this is what we gave that individual in terms of the space and support in order for him or her to grow in that particular career and get a job like that. So I’m extremely open when it comes to bringing – to making sure that people have the right careers as long as they have the right mindset in terms of doing what they believe is the right thing to do to progress their career.

[00:27:09]

That’s perfect. So on that note, what are the core characteristics, three characteristics of an all-star employee?

[00:27:17]

I think first of all it has to be grit. It needs to be somebody that’s not willing to put hours; I think it’s a little bit of a misunderstood concept, the hours. But somebody that really wants to understand the nitty-gritty detail, first of all because if you don’t understand it you cannot really correct anything. The second thing is very much of being passionate about what you do. It’s really understanding the – having the passion about improving something or creating something. If you don’t have that it’s going to be extremely difficult if somebody is standing in the corner and telling you what you need to do today, tomorrow, or the next six months. And I think the last thing, which I’ve always valued in terms of becoming a really good employee is ownership. It’s basically just taking the ownership of saying there is an issue that we are facing today. I think I might have a solution. I would like to be responsible for this part and then just taking ownership and delivering the solution. I think that’s one of the things that’s driving my career from where I started and I think for me, I think it’s a – if you want to be successful you have to be extremely focused on what you need to deliver, but you also have to take the ownership for making sure that it is delivered. Nobody is going to come and give you any task if you actually don’t make yourself available saying I actually think we can do this completely different. I always practice open-office policy or open-door policy where employees can come and tell me what I’m doing good or I’m doing bad. That’s been a little bit more difficult here in the states to be honest. I think the culture is slightly different with the employees, even though I’ve been facilitating that since day one. I didn’t get a lot of people coming through my doors and giving me that many suggestions. Some of them have. And that’s great. But I think for me growing up in especially Scandinavia, if you want to see candor and if you want to see people being honest, you should spend a day or two working for a Scandinavian company or a Dutch company because those are the most direct people in the world. I always grew up with working at a company where you could go to the CEO regardless which level you were at and you can tell him when he was doing his job good and what he needs to improve and he will actually sit and listen and take notes. And I think that’s exactly the way that you not only improve but you also empower your employees to give you feedback and thereby giving them more confidence that actually they can even help CEOs to tell them how they can improve their work and what needs to be corrected. So for me, those four things are the most important things in what the criteria and the skill set that people should look at in terms of what needs to be in place in order to be successful. And I think those four elements for me have been something that I’ve seen people through my career have that have accelerated quite well. Some people are a little bit more comfortable on the comfortable side in terms of just doing the thing they know how to do, which is also good. But I think once again, if we don’t take the risk and we don’t learn, it becomes difficult for all of us to develop. And that never really stops regardless how old we are.

[00:30:32]

I want to shift a little bit talking about Decipher and then we’ll move to the broader brand of FocusVision. So as most of our audience knows, Decipher is used by lots of companies as really the backbone of their insights. How has that being – how is that being leveraged by FocusVision in terms of accomplishing your strategy? Is it playing a major part within MarTech and is that then really the next big focus?

[00:30:59]

Yeah, I think it’s always been a focus of investing more in our software technology, especially on our quantitative survey tools. Right now we feel that there’s a shift in the market, which we’ve been seeing over the last couple of years but it’s really accelerated; not really only driven by us but most of the players in the market research space, especially the technology vendors. People are looking for more sophistication in the work that they do. First of all, market is moving much faster to a DIY solution where clients like LinkedIn and some of the other clients that I know you had on your show are really looking at internalizing a lot of research and it’s not because – people think it’s about cost. Cost has an impact but the main reason for that is the ability to deliver something fast and have those actionable insights. So for us Decipher has been a really amazing tool because we are in a slightly different position than most of our competitors in that space. I think that if we carve out that market space that we participating in, I think it’s – first of all it’s a completely different market space than most of our competitors are because they offer much more simpler solution in terms of the capabilities. So if we speak about the depth of the functionality and the power of the product, right now we’re really servicing that professional user and the good thing is that the market change that we’re seeing right now is that we’re seeing an increase in professional users, specifically among enterprise clients. So this is a core part of our strategy. The one place where we really want to invest is in our analytical capabilities because right now the market doesn’t really see the difference between the data collection platform and the analytical platforms that clear. They want all of it at once at the same price probably also. So this is something where we are actually investing quite significantly in terms of improving our analytic capabilities and bringing our product not only to the professional users but also some of the casual researchers that want to become much more sophisticated in their work. So it is a core of our strategy in terms of our quantitative offering and we do believe that we have a well-hidden Ferrari in our garage that a lot of people knew about but I don’t think that we’ve actually seen this much interest like we’re seeing now for the last couple of years. And that’s something to do with – there’s a bigger brand recognition around Decipher that’s been created for the last 10 years. And then the second part is this change in the appetite of how enterprise clients are purchasing the survey software has changed dramatically and we are seeing that change affect Decipher as well.

[00:34:05]

You think the pending IPO of Qualtrics and Survey Monkey are going to create additional opportunities for FocusVision?

[00:34:17]

Yes, I believe so. I think the Survey Monkey, I think – we don’t like to – I don’t know if that’s a – we are not really comparing our products. We don’t really compare Decipher with Survey Monkey because I think the functionality of the products are just completely different and user cases are also very, very different. Survey Monkey is for more simple research; Decipher is a far more sophisticated research. So we are catering for two different segments. But there’s definitely more attention in terms of the data collection tools on the quantitative side. I’m a big fan of both of the companies. I think I’ve been a Survey Monkey user for more than a decade in my previous life so that’s – I’ve always been a fan on that side. I think what Qualtrics has been doing over the last couple of years is tremendous. The growth that they’ve been having all over the world, they really understood the need and the change that’s happening on the technology side and have leveraged that completely. So I have the upmost respect for both of the companies and it’s interesting. You have two of the largest companies on the customer experience/survey quantitative offering doing IPOs very, very close. So that’s going to stimulate some demand in terms of what we do but I do think that a lot of the core users that we have are – have been really, really good ambassadors for us because a lot of the business that we get today is coming from referrals. And we actually do see that increasing over the next couple of years as well.

[00:35:59]

Yeah, I think it’s a really interesting point how you started out Survey Monkey and Qualtrics are really in a lot of ways euphemisms for insights are really important right now to help companies compete against Amazon. That’s the point right, and FocusVision is fairly uniquely positioned in the market because it not only has the quantitative, the Ferrari, but then it also has the qualitative side of things, GDP compliant, etc. out of the box. And so there is this sort of interesting market dynamic and it seems like opportunity that you and FocusVision are going to be able to fulfill.

[00:36:40]

Yeah. I think that part is changing as well. And I think that more the technology improves, the lazier we become, all of us in terms of how we see things and understand things. And I think I always used to have an argument saying if your user is used to simplicity of using an Uber app or Air BNB, or any kind of app out there or product or software, you better make sure that your software has the same usability. So I think we are kind of expecting now and that is happening in the market is that people are expecting to have everything at once provided by one simple vendor out there that can do everything – either do everything for them or deliver them the tools where they can do everything. Of course, another aspect that we didn’t touch upon is that the data privacy policies and security regarding data are going to be changing exponentially over the next couple of years. And I think people will be looking for really making sure that they’re working with the vendors who know and understand the data security policies that that vendor has in place. So I think part of it is data protection. The second part is really understanding the product. So today we are very fortunate to be able to offer both qualitative and quantitative tools for market research and data insights and analytics. And it’s been extremely helpful to have that ability to offer that to our clients. And I think you will still be able to find some of our clients that they don’t know that we actually offer a full suite of products but the ones that have that we have much more meaningful relationships with those clients. And for a lot of the instances we are actually I would say part of their DNA of that customer insights feedback loop and their entire organization is kind of built around ability to provide the insights and deliver on those insights. So that’s something that we’re extremely proud of. We are slightly unique in that positioning because most of the competitors that we compete out there with either cover one or the other side of the product portfolio. We are a slightly – once again, we’re in a slightly unique position for delivering a different kind of service to our clients. And this is something that we are really looking forward to not only proving but also creating an analytical layer on top of that so it becomes even easier for our clients to understand the insights.

[00:39:33]

Zlatko, you know me. I’m a sales guy 100 percent through and through. So I always have to ask this question when I’m talking with a guest. And that is is there a specific offering or product that you would like our listeners to hear about?

[00:39:47]

Right now I think the – for us, the most important thing is that we are really moving fast on building out our analytical capabilities. Some of the new products that we have in place will be launched later this year. And we have been really focusing a lot of building out various machine learning models and models that are based on the AI systems. We’re able to look at large quantities of data and start making sense out of it. So for our listeners out there, and your listeners out there, I think you will be able to see something completely different that FocusVision can offer compared to what we have today. On the other side, our flagship products and such have been extremely solid in terms of the user cases and we’ll be looking to improve a lot of those elements today. I think where we are extremely excited is that change to where we’re specifically seeing on the client side where the clients are actually purchasing multiple products that cover both qualitative and quantitative side and our ability to deliver on that. So I can’t really exclude one product or the other and say in terms of where opportunities are but I think really providing that insights engine to our clients is going to be a main focus over the next couple of years.

[00:41:13]

My guest today has been Zlatko, CEO of FocusVision. Zlatko, thank you for being on the Happy Market Research podcast.

[00:41:19]

Thank you for having me Jamin. It’s been a pleasure.

[00:41:22]

And thank you very much for everyone that is listening and leaving us reviews on Apple Podcast. A special thank you to G Frank 13 who said he appreciated the content and the thought-provoking questions. Everyone have a wonderful rest of your day.