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NeuroSensum Technology International is a renowned Neuroscience and AI-based consumer research company demonstrating advancement in applied Neuroscience to delve deep into the minds of consumers and uncover their unconscious reactions to advertisements. Making a foray into the market research domain in 2018, NeuroSensum grew from a small team of individuals to a big team serving over 250+ clients. With its prowess and innovation-led strategies, NeurSensum has pioneered the commercial use of Neuroscience & Artificial Intelligence for consumer research in Asia. The company is penetrating the future in market research by leveraging cutting-edge tools like EEG, Virtual Reality, Eye Tracking, Reaction Time based applications, Facial Coding etc. It is the only neuroscience player in Indonesia and the fastest-growing market research company in Indonesia.
NeuroSensum’s best-selling products are EEG (Brainwave mapping) and Eye Tracking. The main difference with similar services in the market is that they focus on the subconscious. At the same time, the competition still uses methodologies based on a survey – which, most of the time, is not accurate. Most of the time, consumers themselves don’t know why they like or dislike something, and most of the time, they are polite and just give the politically right response.
By following their distinctive customer approach and serving dedication, NeuroSensum grew 6 folds in 4 years of business, and now they have more than 120 people working in the in-house team.
The Driving Force behind NeuroSensum
Mahesh Agarwal, Managing Director, NeuroSensum, is an industry expert and In academics, he has done MBA in Marketing and comes up with over 25+ years of experience in the Market Research Industry; Mahesh excels in decoding tough marketing decisions and curating integrated insights to solve them. He is an excellent multitasking business leader, efficiently handling different segments in the business.
Barriers are Nothing but a Steppingstone to Success
During the initial year of the establishment of the company, Mahesh struggled to recruit the right talent and get the clients to trust neuroscience-based work as it was unknown to them. The reason for this was that these are unchartered waters, and everybody had their doubts about the Neuroscience methodology. Gradually with a strong network, they were able to build an excellent team who not only understood but also embraced neuroscience, which thereby helped them to provide the best quality services to the clients. Cash flow management was also a very big challenge in the beginning – however, the right support from investors at the right time helped them survive that phase. Now they are a profitable company and want to remain that way.
Mahesh’s Unique Definition of Success
Ultimately, it comes down to having the right talent, product, and attitude. Without proactively seeking out new clients, we simply kept educating our staff and clients about new approaches. For this, we conducted webinars, one-on-one training sessions, etc. There was no turning back once they began assigning projects and receiving exceptional insights from the subconscious reaction. Therefore, having faith in what you are doing and exercising a lot of patience is crucial.
Their core values include giving extraordinary service and insights. The team at NeuroSensum are focusing on a set of fewer clients but developing a deeper relationship with them.
From the Co-founder’s Desk
There are two main things which an entrepreneur needs to do. First, envision how you want the future to look like and then find passionate people and give them a lot of encouragement and support to achieve this future. The biggest challenge is to hang on to this vision of the future even when things look bleak. What differentiates winners from losers is this ability to persist. My experience has also been like that. At first, there were moments when it seemed like nobody understood or trusted us, and everything might fall apart. But we only continued because we were certain of how the future would pan out.
Infusing Innovation for an Enduring Outcome
Technology is rapidly evolving and transforming lives. The market is demanding the commercial use of Neuroscience & Artificial Intelligence in all fields. AI would facilitate greater understanding and increase societal convenience. Netflix would already know exactly the type of show you would like to see, so you don’t need to look for it. The fields of medicine, law and even finance would be significantly impacted by AI. Consumer research would provide a greater understanding of how consumers purchase goods, aid in developing better items for them, and make purchases more manageable.
Overall, the Pandemic has hastened digital adoption (and AI comes along with it). However, it is something which no one can stop. It is part of natural evolution and undoubtedly will change our lives in times to come.
Suggestions to Entrepreneurs
Before starting a business, aspiring entrepreneurs should properly research their products and services and make a definite decision. However, once established, they shouldn’t give up easily. Everything will come together gradually but steadily if you have faith and are willing to make sacrifices, everything will come together gradually but steadily.
Include team members who are enthusiastic about the product and want to make a difference in the world as well, not just those who are there for the money.
