As CODE_n finalists from 2014, they are attending CODE_n15 at CeBIT as start-up veterans: GPredictive from Hamburg analyzes buying behavior from customer data to derive patterns for the future. The young company offers its analytical expertise as software-as-a-service. This means that it is affordable for smaller and medium-sized companies too.
As alumni, you’re again represented at this year’s CODE_n15 at CeBIT. Looking back, what were your impressions last year of your CODE_n premiere?
Björn Goerke (GPredictive): I think the entrepreneurial spirit at CODE_n is really exciting. There was a tremendous amount of energy in the venue. And the interest that our stand generated was simply overwhelming. It was usually after 4 p.m. before I managed to get anything to eat … Being mobbed by so many interested trade fair delegates was great fun. Everyone who came to see us really enjoyed looking at our business model.
What’s happened to your start-up in the last twelve months?
Björn Goerke (GPredictive): We’ve doubled in size and we now have a ten-strong team. We sourced a major investor in the form of Target Partners, and we’re now in a position to increase our team even further. Overall, we’ve massively optimized our product approach. Our analytics solution “Scores out of a box” now runs virtually fully automatically, which means that we’re able to respond much more quickly than we did a year ago. We now have a mature product and a growing number of satisfied customers.
How exactly do you “help” your customers?
Björn Goerke (GPredictive): We recently had success with ascopharm GmbH, a company that ships non-pharmacy healthcare products by mail order. Its most important marketing tool is classic print mailshots. Customers are regularly sent catalogs or flyers. The problem with this was that it wouldn’t be cost-effective to send an expensive catalog to every address in the database, so a smart selection needs to be made time and time again. ascopharm has previously done this very well. Our software, however, calculates the exact scoring of all addresses on the basis of several hundred criteria. This harbors tremendous potential – and this is potential that the customer is able to leverage straight away, since we provide a ranking from 1st place to 10,000th or 100,000th, which sorts customers according to their probability of making a purchase. In this case, ascopharm sent the latest catalog to its “top 10,000” customers.
And how successful was this?
Björn Goerke (GPredictive): The results were impressive: ascopharm was able to more than double its response quota based on our scoring. This produced a healthy increase in turnover. Ultimately, we’re doing nothing more than linking a classic marketing instrument with modern technology and enhancing it as a result.
How important was CODE_n for you as a start-up?
Björn Goerke (GPredictive): Our attendance at CODE_n last year sent out an important signal not just for investors, but also for new customers. Since then, we’ve been taken seriously and regarded as a “proper” company rather than just as a small start-up. CODE_n was therefore very important for our reputation. It is very empowering for any start-up to be represented at CODE_n.