We talked to Boaz Grinvald, CEO at Revuze about gaining actionable and competitive insights on product experience and this is what he said about it.
First of all, how are you and your family doing in these COVID-19 times?
Boaz Grinvald: These are challenging times for everyone. Our region has gone through 3 lockdowns (3rd one still ongoing) with many limitations. WFH is taking a toll in terms of work-life balance and limiting employee socialization and casual meetings. While thankfully we’re all ok in my family, the limitations and stress are taking a toll on everyone.
Tell us about you, your career, how you joined Revuze.
Boaz Grinvald: I’m a software developer that turned into a serial entrepreneur. I started in the computer’s corps in the Army and afterward was lucky to land my first job in a startup. I was amazed by one person’s ability (or a handful) to impact a business and scale it. Since then, I was lucky to be a founder of 3 other companies, scaling them all from idea to multi-million dollar revenue companies in different markets and business models. I joined Revuze in 2018 when the founder and CEO then, Ido Ramati, reached out to me. I found a mesmerizing technology that redefines how brands consume the voice of the consumer, with early adopters, and ever since we’re scaling the business.
How does Revuze innovate?
Boaz Grinvald: Revuze is reinventing consumer voice by offering the first real automation in the space. With Revuze Explorer, anyone can understand any consumer industry in any language and country without any help. Our unique, all “real” automation approach allows us to drives prices down and makes consumer voice accessible to business users directly, without any experts needed compared to the legacy approach, which relies on experts to interpret the customer’s voice. These legacy techniques make scaling consumer understanding to entire industries/geographies/brands very costly and slow, and limited to the largest brands.
How the coronavirus pandemic affects your business, and how are you coping?
Boaz Grinvald: The pandemic had a positive impact on our business in several ways. While a small number of our customers in particular sectors like fashion and toys were hurt, other customers scaled their use of Revuze, so it more than compensated. The pandemic pushed brands to become digital and to sell more if not entirely online, which raised the importance and need for a technology such as Revuze to report on the consumer’s voice online based on online reviews from verified buyers.
Did you have to make difficult choices, and what are the lessons learned?
Boaz Grinvald: Yes, like any business, we had to watch expenses and scale back our hiring plans. We felt back in March 2020 that the world was overcompensating, and we took a phased approach to cost optimizations. We said we’d assess every quarter and, if needed, scale back. In Q2/20, we found that the world was not in a dire spot as everyone thought, and we avoided over scaling back expenses. So lessons learned were to listen to your inner voice and team and to take a phased approach when uncertainty is high
What specific tools, software, and management skills are you using to navigate this crisis?
Boaz Grinvald: We use many cloud tools for remote collaboration and WFH scenarios. Zoom obviously is key for internal and customer-facing meetings, and all our other systems are Cloud-based, so we can leverage remotely. In terms of management skills, I found that empathy goes a long way these days, as everyone is out of their elements these days: WFH + family + kids remote learning = lots of stress on the home front. So empathy, patience, flexibility to move meetings around, and to reassure everyone that we’re heading in the right direction are essential to convey a sense of stability in rough waters.
Who are your competitors? And how do you plan to stay in the game?
Boaz Grinvald: Luckily we don’t have direct competitors as of yet. While there are many vendors offering tools or services to interpret the voice of the consumer, they are all limited in nature and require experts in the loop, which also makes them expensive and slow. We built a machine that turns online reviews and other consumer opinions into a clear analysis of the voice of the consumer for the entire industry (All brands, products, features, topics, sentiments) – which allows any business role to know in fine details what is going on in the entire industry (threats, changes in tastes, new products, features, why consumers buy, etc). We continue to invest heavily in our tech edge and to roll out new capabilities all the time. We’re building something very exciting this year….watch out in Q2
Your final thoughts?
Boaz Grinvald: We live in exciting times where technology is mature enough to give us the flexibility to WFH, and science is fighting the good fight to keep us healthy with new immunes and fast lab tests. I wish everyone good health and to keep their calm till this storm passes. And if anyone is looking to understand consumer decisions at scale – give us a shout!
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