Welcome to the #IIEX Europe Conference Series 2019. Recorded live in Amsterdam, this series is bringing interviews straight to you from exhibitors and speakers at this year’s event. In this interview, host Jamin Brazil interviews Ranier van Rietschoten, Co-Founder and CCO of Veylinx.
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My guest today is Rainier from Veylinx. Thanks so much for being on the Happy Market Research podcast.
Thank you. Happy to be here.
We’re day one IIeX. How’s the show going?
It’s pretty good so far. I’ve been able to see a couple of presentations, but I’ve also spent quite some time at our booth, talking with fun and interesting people.
Also, clients. Yes, I think third or fourth year that we are here at IIeX. It’s always one of the highlights of our conference calendar because they focus a lot on putting innovation in the spotlight, which is also something where we feel quite passionate about. That’s always good fun and we have some current clients and of course also some really nice new interesting people that we can always meet every year.
Veylinx, you are the founder of the company?
Tell me a little bit about that.
Veylinx was founded about four years ago. I’m one of the founders together with Anouar and Anouar is a scientist working actually at the University of Amsterdam in the field of behavioral science. When he got introduced to it into market research, he saw that especially within innovation testing, a lot of the work, in innovation foundation evolves around measuring intents so you ask questions, “Are you considering purchasing this product? How often? How much are you willing to pay for it?” Coming from a behavioral science background, you always learn, don’t ask what people think they’re going to do, but measure what to really do. What we have done is actually we took an approach from behavioral science and introduce it with market research. What we did is we built this tiny ecommerce platform on which we host auctions of products that we want to research. Then by looking at the bits on those products, we can make predictions about many people want to buy this or very few, how should you position it? So one half can bid on a Heineken beer saying it’s ice cold, the best and the other half bits on the Heineken beer for claim it says brewed of natural ingredients and then we can see which position works best and who are the people most interested in buying this? We’ve a very efficient tests that is fully behavior based. We can basically do full concepts and ID evaluations.
How long does the project usually take?
It’s quite fast. When we run a project, typically when we go live with the field work and field work takes anywhere between two to five days. One day later we can deliver top lines and then a few days later we can deliver full polished brief.
You’re doing everything for the customer in terms of helping them design the project execution, analytics and reporting.
We have both. We have our full stand-alone platform and with some clients they set up their own projects or doing their own analytics. We just delivered them the platform. But for the majority of our clients, especially in the CPG and consumer electronics industries, we’re providing the surfaces as well.
That makes it a lot of sense. You said this is the third year or fourth? I apologize. The fourth year here at IIeX. How’s this year shaping up compared to previous ones?
It’s interesting, IIeX has grown a lot bigger, which I think is great because it’s proof that the industry is evolving. Also, when I think about four years ago when we were showcased as a startup, we saw there were a lot less startups in the industry and also it was a lot harder to have clients open up and experiment something. It’s really become more of a strategic objective even for clients to look around to see what is innovative, what is new and live more with startups, it’s a lot more accepted than I think it’s a great improvement that the industry is going on and IIeX I think one of the brilliant platforms to achieve that because it’s such an efficient way of identifying like what is new, what is interesting, where are the market trends going? I think that has always stayed true but it’s just grown a lot in terms of size, in terms of professionalism and it’s an interesting place to be.
Veylinx is the name of the company. How did you come up with the name?
It’s actually an interesting story but we are a Dutch company by origin and I said it started as an academic project and it needed the project name and there was no way in the beginning the intention to start a company, let alone an international company. It’s actually a combination of two words and one word is “veiling”, which is a Dutch word for auction because we use auctions as a means of research. Then “links” is a bit related to web links because it’s all digital and online.
Very clever, how big are you guys? How many employees?
We are now with a team of a little bit of 20 people, a head office in Amsterdam and I recently relocated to New York to open up our first USA office.
Congratulations. How is it living in New York?
It’s a lot of fun. It’s so much to do also for us, it’s an important market. We have a lot of clients already there in the region so it makes a lot of sense for us to be there.
Are you guys looking at the West Coast eventually or no?
Initially the East Coast, New York because it’s easier to fly into and the majority of our clients are in that region. At some point of course we want to move to the West Coast as well as it’s also very relevant, especially in the electronics and surfaces markets where we do more and more for work as well. It could be very relevant.
That makes a lot of sense. How does somebody get in contact with you?
They can drop me an email or go to our website or website is www.veylinx.com. My email address is firstname.lastname@example.org. That’s, R-A-I-N-I-E-R@veylinx.com.
Veylinx is, V-E-Y-L-I-N-X. Thank you so much Rainier for being on the Happy Market Research podcast.
Thank you so much for having me. Have a good show.