Entropik’s product Affectlab.Io allows companies to examine emotional responses from capability customers to ad campaigns and UI/UX design
The base of Entropik’s SaaS-based totally dashboard for manufacturers are its use of eye monitoring, facial coding and brainwave mapping tech
Apart from testing advertisements and person trips in apps or web sites, the tech can be utilized in retail environments to gauge reaction to packaging
“You are the product. You, feeling something, that’s what sells,” says Don Draper in the iconic Mad Men which is about around the life of advert executives in the heyday of advertising — the 60s and 70s. And even though it is fiction, there’s greater than a grain of reality to the road.
Marketers have regarded this for a while now that products don’t sell simply based totally on what they offer and what the pricing is alone, but on what emotions they evoke in the consumer. As a end result businesses spend a big a part of their budgets on coronary heart-tugging advertising campaigns, designing delightful consumer reviews both thru product packaging or through UI and UX. Anything that can have interaction or emotionally connect with the consumer.
Though some of these choices are made primarily based on ancient facts and surveys, those haven’t been as accurate as organizations spending millions would love them to be. There are two primary motives for this — one, respondents in a survey is probably biased because of incentives or might not make certain of what they particularly feel. Another hassle is that gathering and analysing survey statistics is a time consuming procedure that contemporary organizations can’t come up with the money for to wait out.
Founded in February 2016, Entropik Tech is one among numerous up and coming startups in the emotion analytics space that are trying to remedy this trouble with synthetic intelligence-based tools that track what survey respondents are feeling at a subconscious level instead of asking them what they experience.
Entropik’s product is a SaaS dashboard known as Affectlab.Io that companies can use to slice and dice emotional responses to advert campaigns and app interfaces to make better UI/UX selections.
The Bengaluru-based totally startup become founded by using Ranjan Kumar, Lava Kumar and Bharat Shekhawat. While Lava has worked as a product manager at Yahoo, Motorola, Nippon and some startups, Shekhawat is software engineer with revel in in data technology at agencies which include RedCastle, Bigpaa and Aloha Technology.
For Ranjan Kumar, Entropik is his 2d entrepreneurial venture — the first called RedCastle ran from 2012 to 2015 and labored inside the marketing answers space. After scoring an go out with the startup, he worked at Citrus Pay as its enterprise head till the fintech agency became obtained by way of PayU.
After that stint, Kumar’s concept turned into to build a product that could have a technological differentiator from Day zero — he didn’t need his subsequent mission to go through the fate of the first one which didn’t have lots promise due to lack of differentiation in a crowded area.
At that factor of time, the $70 Bn marketplace studies area stuck Kumar’s interest. “95% of choices made by means of a purchaser are emotional in nature and now not a lot paintings has been completed in the space”, he stated.
Tracking Emotions With Tech
How Entropik Is Mapping Emotions Through Tech To Boost Brand Engagement
The base of Entropik’s SaaS dashboard are 3 technology — eye tracking, facial coding and brainwave mapping. While the first two are achieved remotely whilst a respondent logs in to the web page and offers permission for the webcam to track, the brainwave mapping occurs thru a headscarf supplied with the aid of companies at their in-house lab.
In the attention monitoring piece of the software program, the movement of the scholars is gauged to glean insights approximately which part of the display screen respondents study even as watching an advert, a film trailer or surfing an ecommerce website online. “This will become a sturdy records factor for customers to remember that ‘Okay, 28th 2nd to thirtieth second a part of the advert is in which the consumer’s interest is low. So that is the unique segment of the ad that is operating/no longer operating,” said Kumar.
For the facial coding component, the respondent’s insights from a respondent’s expressions are gleaned to arrive at insights about which components of the content evoke what emotions including happiness, disappointment, passivity et al.
Brainwave mapping, the third piece in Entropik’s emotion analytics suite, is accomplished with a wearable EEG (electroencephalogram) scarf that alternatives up electrical emitted in the mind. “What it measures is neural pastime in the frontal lobe of the brain. For instance you get 4 Hz — we let you know what does it imply… Is the person happy, unhappy, excited or at ease?” stated Kumar.
The statistics captured from these three techniques can then be blended to arrive at conclusions approximately what modifications need to be made within the UI/UX to have interaction the viewer better.
To provide an explanation for the use-case, Kumar cites an example, “This gives clients an know-how of in which they ought to place the product at the screen, what sort of characters they ought to use, what type of topics they must use, a way to exchange the evaluation of the historical past to clearly make it outstanding and power extra emotional interest from the customers.”
Apart from advertisements and person journey on an app or website, those technologies can also be used in brick and mortar retail where for checking out the packaging fashion and placement of merchandise in a store, consistent with Kumar.
To do that, shelf view and p.C. View videos are shot by using experts the use of a 360-diploma view digicam after which the footage is used to create a digital retail shelf. Respondents put on a VR headset so that it will see the packs deployed on the shelf after which eye tracking and facial coding are used to create heatmaps of what they notice and how they react to merchandise on Entropik’s SaaS dashboard.
Room For Experimentation
When a company registers a request for a take a look at at the dashboard, Entropik sends out the take a look at to a fragment of its panel of 50 Mn respondents across a hundred and ten nations depending on the wide variety sought by the patron and the demographic wherein they need to launch their product.
The facts is then fed into its proprietary artificial intelligence/system studying algorithms that crunch the numbers in opposition to ancient records to derive insights.
“We have 17 patents filed throughout most of these technology. The set of rules facet of it is what our center IP is”, stated Kumar.
For a mid-sized organisation, it’s a DIY platform wherein they could log in and run exams which they require. The information is to be had in forty eight hours rather than the three weeks that consciousness organization discussions and surveys take, consistent with the founder.
The startup additionally offers consultancy offerings to make hints on the idea of its pool of facts that is in general availed by way of bigger groups. “We have a patron insights group which clearly sits on a big amount of benchmarking information… Over a time period we've executed such a lot of advert exams and such a lot of digital enjoy tests we recognize what is ideal, horrific and ugly,” delivered Kumar.
Since the entire premise of the product hinges on analysing information, amassing greater of it manner the generation gets higher. This is vital given the truth that startups inside the emotion analytics area including Affectiva and Realeyes, incubated by means of MIT Media Labs and Oxford, respectively, were around for more than a decade now.
While Affectiva claims that its services are utilized by 25% of Fortune 500 businesses and over 1,four hundred manufacturers, Realeyes counts Coca Cola, Hershey’s, ebay, Nestle among its customers. Moreover, these companies are sponsored by using a big stash of venture capital — Affectiva has picked up fifty three.Three Mn in funding whereas Realeyes has 33.8 Mn in its kitty.
While Kumar conceded that those corporations are doing exciting paintings, he harassed that at the quit of the day it’s the quantity of information that a corporation has received over a period of time will decide who succeeds and who doesn’t.
“We are presently the second biggest repository of human emotion facts globally with approximately 26 million datapoints. This collective intelligence offers us an side,” he stated.
Getting Down To Business
Leveraging this sea of statistics, Entropik has onboarded manufacturers such as Xiaomi, ITC, JPMorgan, Sony, Victoria’s Secret and Myntra, among others. “From a go to marketplace angle, we directly paintings with brands — in order that method entails attaining out to the client insights teams of these brands and telling them what we will deliver,” said Kumar.
The 2nd approach is working with companies no longer after they have already built a product but right from the prototype degree so that the layout and improvement may be optimised with historical statistics that Entropik already has.
But it’s now not best promoting customer products that the corporation aids in — edtech platform Vedantu is the use of the dashboard to examine scholar behaviour — through gauging at which points all through a category respondents are attentive to a lesson and wherein their attention is wavering.
“Education is a key vertical region where our solution is capable of offer no longer simply how users are simply rating your programme however additionally a cognitive degree of ways a student is mastering,” stated Kumar, adding, “Our offerings can assist wherever there is a video as a touchpoint and there’s a face within the equation.”
According to Entropik, the usage of its services has led to groups being capable of cut down their customer acquisition charges with the aid of sixty three%, boom purchaser satisfaction by way of 32%, and force up natural virality of content material by using 3X. However, reaching those metrics doesn’t come cheap.
The multimedia/ad product is priced at $three,000 for testing with 500 respondents, the bundle for checking out user journey on an app or internet site comes at $4,000 for 100 respondents, whereas the product for stores is priced at round $4,500.
How Entropik Is Mapping Emotions Through Tech To Boost Brand Engagement
The pricing and its stellar listing of shoppers has helped Entropik increase its revenues at a quick clip. While it said sales of INR 10.36 Lakh in FY17, the figure shot up to INR seventy seven Lakh in FY18 and INR 1.2 Cr in FY19, in line with business enterprise financials accessed on Tofler.
According to Kumar, approximately 75% of the company’s sales are accounted for via clients abroad but CFT couldn’t confirm the declare considering the fact that Entropik hasn’t filed its FY20 economic report yet.
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Onboarding worldwide customers is a main consciousness for the agency because it has built skills to cater insights on demographics across one hundred ten counties.
The employer seeks to gas its enlargement plans with a Series A funding of $8 Mn that it picked up in September. The spherical was led by way of Alpha Wave Incubation, Bharat Innovation Fund, IDFC Parampara Early Stage Opportunities Fund, Arthavida Ventures and Jitender Gupta, Kumar’s former boss at Citrus Pay and PayU.
According to Kumar, emotion analytics is still nascent and there are a lot of opportunities for the organization in phrases of futuristic technology.
“Imagine you're watching an ad and it mechanically performs out to a positive length to hold your exhilaration… Those are matters which might be going to be coming up,” he said. “The guys who are able to do it will likely be those which have the biggest repository of records factors.”