“In today’s digital age, what captivates a consumer the most is the connection they feel between them and the brand they are buying outside the store, both post- and pre-purchase. This is compelling companies, big or small to continuously structure their marketing strategies based on big data analytics and use an appropriate blend of different types of media to reach out to as many consumers as possible. But are they getting accurate and appropriate feedback regarding the return on their investments in marketing?”
– Aishwarya Malhi (marketing and design executive, JIO)
The existing methods lack granularity and there is no sense of immediacy on the feedback. Additionally, there is lack of ability to identify the emotional triggers in your viewers.
That is what JIO responded with when we asked them why they started their adventure. Moreover, they told us the three ever-evolving trends in the business environment: Consumer trends (watching more videos), Business trends (in terms of the incessant growth of video ads as a marketing trend), ICT trend, together are the perfect window of opportunity.
For them, facial recognition technology opens up an opportunity to merge all three and create something meaningful and useful for the market. If used with an ethical approach, it can give raw insight to marketers and create a transparent business environment which benefits both the marketers and their clientele. This Singapore based startup is currently in its SEED state aiming to provide a user-friendly interface that enhances viewer research conducted by companies into a more efficient target-oriented approach.
What is JIO?
JIO is an application that enhances viewer research analytics. It provides acumen into viewers’ reactions and emotions evoked as a result of your ads or other video campaigns.
We are able to conduct such in-depth viewer research through the use of facial recognition technology, which detects and tracks the emotions expressed by the users throughout the video.
This information is displayed through a detailed viewer report. JIO, therefore enables market research companies to generate more qualitative analysis for their clients and empowers media companies to target their viewers with more effective advertisements.
What is your value proposition?
We only cater to businesses and not users therefore our proposition is to provide advertisers, content marketers, media producers and broadcasters with information about their ad and video campaings to enlarge their understanding of their viewers.
For media producers and broadcasters, we are also able to provide them with insights on how different types of ads are performing, and provide them with the most optimal ad placements through insights gained as a result of machine learning.
How brands and companies can take advantage of your technology?
JIO aims to offer a user-friendly interface that enriches viewer research conducted by companies into a more efficient target oriented approach. It is a tool that can be flexibly integrated into any existing method of research analytics for companies that are looking for high-quality insights into their target market. This would allow leading edge companies to further personalize their advertisements and other marketing campaigns.
You use Microsoft based facial recognition. Why did you choose that specific technology?
We have tried other algorithms and APIs, we feel Microsoft is the best in terms of facial recognition technology and usage. Moreover, we are part of the Microsoft BizPark Residency program so we have direct support from Microsoft.
Although, other strong players in that arena are: Affectiva, Emotient and Kairos.
What other application of facial recognition technology could be possible (the craziest ones)?
Integrating it into IOT (Internet of things), bring it a step further by being able to track peoples’ emotional state at any point of time for example, during a concert.
What are your challenges for the next 12 months?
R&D, keeping up with the times and competitors by making sure that our technology is an epitome of dynamism and simplicity at the same time.
What advice would you give to another entrepreneur?
Be clear about what your competitive advantages are like why does it have to be you to do it? The idea doesn’t have to be original but how you deliver it matters. Most successful startups (70%) are copycats but how they execute it is what matters. So my advice would be just learn to play your strengths in the right places at the right time.
The startup ecosystem in Singapore:
How is the startup ecosystem in Singapore?
The startup buzz not just in Singapore but all over the world is influencing millions of people. Working in structured, formal and non-friendly environments no longer exist in most industries.
In Singapore, we haven’t yet seen a huge success story yet so the apetite for risk is still not present. Although it is rising and it is up to the entrepreneurs if they are willing to risk it all and can make it big globally.
What are the main advantages of being based in Singapore?
Singapore is known for its unified working network with almost every service at the click of the finger.
The government plays a key role in nurturing companies into global leaders through unprecendented support in terms of loans and grants and provision of a strong tech infrastructure. Singapore is known for its fast paced tech environment with high internet penetration.
Singapore encourages cordial alliances between corporate players of diverse magnitudes to promote technology, transfers, test bedding and commercialization.
Entrepeneurship is encouraging the youth to follow their passion with the undaunted support of the government and their attempts at making things easy for us. For instance, the cost of incorporation is low for both foreigners and locals making Singapore one of the global leaders in hosting foreign subsidiary companies. Moreover, Singapore possesses one of the most organized trade regulations in the world, making it highly efficient.
And not to forget, Singapore is conveniently located in South East Asia with a free trade agreement with China, Japan, South Korea, New Zealand, Australia and India.