Streetbees: Fueling Growth through AI-based Market Research

Tugce Bulut, StreetbeesTugce Bulut
For a company to maintain its position in the market, a highly scalable business model, a solution, or a service that addresses the consumer requirement and a decisive leadership are a must. However, in this day and age of cut-throat competition, companies always look for practices and approaches that would give them an edge over their contemporaries. Marketing technology, or Martech, has emerged as a reliable solution for every company and has been instrumental in determining consumer behavior, launch of new products, improving connections with the users, and so forth. However, amongst a myriad of such solution providers, it has become increasingly cumbersome for companies to select a partner that has a proven track record of delivering optimum results and generating data-driven actionable insights. A company that embodies these aforementioned capabilities is London-based Streetbees. With the world’s first human intelligence platform, the company captures genuine consumer insights and ‘why’ behind a consumer’s behavior, leading to improved decision-making and strategies. Its AI-powered solutions convert the data obtained from its users (named as bees) to information pertaining to areas of growth, hidden market opportunities, and other business-centric ideas.

Its Dynamic Growth Engine platform obtains first-hand experience and sentiments from the consumers towards a particular product or a category which can be converted to actionable insights for growth strategy. Infused with AI, the solution never stops collecting data from its 3.5 million bees from around the world. Moreover, in case of any sudden change of behavior, clients can still have the necessary details in hand immediately. The technology further makes it possible to get precise information on the reasoning behind a customer’s choice, enabling them to tailor the offerings swiftly and identify the target audience accurately.

Furthermore, it becomes even more beneficial during the testing of a new form of products and communications as it provides fast feedback from the consumer.
In a similar vein, Streetbees’s Brand Experience Monitor assists its clients in monitoring brand performance and equity on a real-time basis while interacting with consumers. With a single score that captures information related to perception, passion, and performance, clients acquire a more profound understanding of why a person interacts with their brand or a competitor and can subsequently use it to improve connections further. Such insights enable the users to stay relevant in the market, modify communications based on the feedbacks, enhance brand value, and most importantly, focus on areas where there are opportunities for improvement.

Additionally, the company provides Dynamic Media Landscape—a solution specifically developed for capturing information related to a person’s entertainment consumption behavior. Concrete insights on the preferences and content inclinations can be obtained, which the clients can leverage to tailor the content and communications and recognize any growth opportunities. Thus, with more engagements and improved connections, clients can utilize it for more advertisement spaces, create sponsorships, and so forth.
  • Streetbees is global intelligence platform that reveals how people behave by analysing real-life moments collected from its worldwide users on an always-on basis

Streetbees’s collaboration with a global leader in the consumer foods domain acts as a testimony to its abilities in providing best-in-business solutions for identifying growth opportunities and obtaining insights on consumer behavior. The client required a platform that could consolidate consumer insights spread across categories and brands to develop a data-driven strategy for improved deliverables. To that end, Streetbees deployed its Dynamic Growth Engine solution, which utilized its chat-style app and exclusive machine learning technology to identify the market trends and consumer behavior. Its 11,000 bees or users spread across eight countries collated data from around 100,000 occasions in 24 months, enabling them to create a strategy for better positioning of their brands, audience targeting, and so forth. Furthermore, the solution was not only able to help the client in identifying hidden opportunities, but with such reliable data, it helped in expanding its portfolio of offerings.

Building on such engagements, the company is seeking to improve its offering’s capabilities further to assist its clients in forecasting and market research. Backed by like-minded investors, Streetbees will be keeping a close eye on the latest technologies in this domain and incorporate them accordingly.
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Tugce Bulut

Streetbees is global intelligence platform that reveals how people behave by analysing real-life moments collected from its worldwide users on an always-on basis. Over 4.5 million users – or ‘bees’ – across 189 countries worldwide use the chat-style Streetbees app to share moments from their daily lives via videos, photos and text, giving as much or as little information as they like. Through applying advanced natural language processing technology to the results, Streetbees uncovers not just what they do, but also why they do it, and what drives them – and predicts what they may do next. This allows Streetbees’ customers to receive rich insights into communities anywhere in the world at an unprecedented scale and affordable cost, helping them deeply understand new or unfamiliar markets. Using the Streetbees platform, world-leading brands are able to make more informed and accurate decisions about consumer behaviour, and predict future trends with confidence