Ep. 528 – IA Annual 2022 Conference Series: Thor Olof Philogène, Founder & CEO at Stravito

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[00:00:00]

Jamin Brazil: Hey everybody. We are live at the Insights Association. You’re listening to the Happy Market Research podcast. I am joined by Thor Philogene. He is with Stravito. Did I say it correctly?

[00:00:16]

Thor Olof Philogene: Stravito.

[00:00:17]

Jamin Brazil: Stravito? Apologies.

[00:00:17]

Thor Olof Philogene: Yes.

[00:00:18]

Jamin Brazil: I should have asked that at the beginning. So Thor, coolest name ever. You don’t have a hammer.

[00:00:24]

Thor Olof Philogene: No, not with me.

[00:00:26]

Jamin Brazil: Tell me a little bit about the business?

[00:00:28]

Thor Olof Philogene: Sure. So Stravito was founded in Sweden in 2017. And we’re very entrepreneurs really that have backgrounds both in technology and market research. Two of my co-founders started Norm which is a shopper research agency currently owned by Ipsos. And now we have presence in Europe and North America, and we’re approaching 70 employees. We have 25 nationalities on the team.

[00:00:51]

Jamin Brazil: A lot of diversity.

[00:00:52]

Thor Olof Philogene: A lot of diversity. And what we’ve built is a product that is an AI powered enterprise insights platform that allows employees at global organizations, fortune 500 fortune five, 2000 to search and discover consumer insights in seconds.

[00:01:08]

Jamin Brazil: So it’s fast?

[00:01:10]

Thor Olof Philogene: It’s really fast.

[00:01:12]

Jamin Brazil: That makes a lot of sense. So you are focused primarily in user experience is that correct?

[00:01:18]

Thor Olof Philogene: We believe that at the end of the day the product needs to adapt to the human being that’s using it. So the user experience is really our way of understanding that in order for the software to be successful, it truly needs to fit the way how people think, and user experience is part of it. Yes.

[00:01:36]

Jamin Brazil: So are most of your, who is your ideal customer in that framework?

[00:01:39]

Thor Olof Philogene: I think our ideal customers are generally global organizations that will be say in the Forbes global 2000. To mention a few customers of ours, we work with Comcast, we work with Electrolux, Carlsberg and McDonald’s.

[00:01:55]

Jamin Brazil: Inside of those organizations though, who’s the buyer?

[00:02:00]

Thor Olof Philogene: So that’s a really good question. So typically the buyer will be the persons or the people heading up the consumer insights data and analytics and insights teams. However, generally speaking, they’re looking to democratize access to that information. So what we have done differently is again focusing on the UX is really to offer a different level of simplicity, where we put usability at the center. And we try to compare ourselves and put ourselves at the same level as say consumer apps like Spotify or Netflix that you would use.

[00:02:32]

Jamin Brazil: How long have you guys been in business?

[00:02:36]

Thor Olof Philogene: We started the company four and a half years ago, almost five year.

[00:02:40]

Jamin Brazil: That’s pretty good. That’s a little wild. You’ve gotten a lot of traction in that timeframe.

[00:02:44]

Thor Olof Philogene: It’s been a set of crazy years. But I think we’ve been able to do something completely different and bring user experience to a new level and ultimately serving our customers even better.

[00:02:56]

Jamin Brazil: I am talking about trends tomorrow in the conference. I just finished doing 22 in-depth interviews with Insight leaders across brands and agencies, and then another 250 participants on our survey. What do you see as a trend moving into our, in the back part of 2022 and it’ll carry us beyond it?

[00:03:21]

Thor Olof Philogene: I think I’m obviously biased by my perspective. What I typically see is that there’s a bigger need for insights integration. People sit on enormous amounts of data. They might have the right insights but unfortunately they get lost within the organization. So really helping companies to fully utilize and fully benefit. And if that could be integrating the insights either through storytelling or either multiple different ways. So they actually become used and serve the business, and help fuel and power growth.

[00:03:56]

Jamin Brazil: Interesting. So when you play that out, thinking about in the coming years, do you think there’s gonna be more companies that spring up that do what you do?

[00:04:07]

Thor Olof Philogene: That do what we do? That’s a good question. I think the way I would look at it rather is finding and surfacing and applying data to drive decisions in business is critical. And that quest will continue on and will still be relevant now and in the future. And I think that more and more software is expected to integrate with everything around it, and in the ecosystem. So as an example, we see an opportunity at a conference like this one to meet partners that we can integrate with because ultimately the end-user wants to go to one place. And wants to access all of their resources in one location. So we do integrations with third-party research providers like Forrester like Mintel, all the big ones. And but you can also have proprietary data that you integrate via our APIs. So I think it’s more about connecting multiple services rather than come up with new services.

[00:05:16]

Jamin Brazil: Super interesting stuff. I think you’re right. Data joints is one of the top seven trends that popped. And I hear that regularly on the podcast about the need to triangulate truth beyond just a single source. So that makes a lot of sense to me. So if somebody wants to get in contact with you, how would they do it?

[00:05:39]

Thor Olof Philogene: They can go to our web or they can just send me an email at thor@stravito.com and then we’ll take it from there.

[00:05:47]

Jamin Brazil: Awesome. Everybody, apparently the, they’ve released the zoo animals and the exhibit floor is now full. My gosh. Have a great rest of your day Thor. Thank you so much for joining me.

[00:06:00]

Thor Olof Philogene: Thank you so much for having me.

[00:06:01]

Jamin Brazil: You will find Thor’s information in the show notes. Have a great rest of your day.