Segmentify, which was formed in 2015, currently has 30 customers in the UK and 200 customers worldwide. Having been identified as one of the 25 pioneers in the machine learning sector last year, Segmentify is continuing to develop while leaving its competitors behind.
E-commerce is now embedded in all our lives. We all now do shopping over the internet at varying levels. While we browse online, these sites try to show us product advertisements it thinks would be of interest. So if you’re asking how these sites know who you are or what you like, you can find the answer with Segmentify founder Murat Sosyal.
Sosyal explains how sites know their customers. “We provide e-commerce sites with machine learning algorithms that can be used to know their customers and make their shopping experience personal. The advertised product is based on the past browsing activities of the customer, which allows the selection of the advertisement to be tailored and the profit of the site to increase.”
An alumni of the Middle East Technical University Electricity and Electronic Engineering Department, Sosyal has conducted scientific experiments over machine learning in web and information securities for many years. He also served as project manager for several international projects. Having formed Segmentify in 2015, Sosyal began investing in the UK in 2018. In the first half of that year, Sosyal was initially travelling in and out of the country. However, having seen the potential for how his product fits the industry during his partnership with the London Bridge Project (LBP), Sosyal moved permanently to London to oversee the expansion of the project across London. His customer base grew twice the size.
The UK market is the most welcoming for us
With respect to Soysal’s experiences in Turkey, he is at an advantage compared to many people who invest in the UK. “We had tried many methods to create a brand value in the e-commerce market, where we had no network, while in 3 years delivering to 100 customers found in the Istanbul market,” says Sosyal. He notes that, “In the past 8 months we are applying similar methods in London” and comments on UK’s market in the following way, “Of course, selling, arranging meetings and explaining yourself is difficult for an unknown brand. However we are a team who have such experiences previously in Dubai, Berlin and Paris. In terms of peaking professionalism at work, UK has greeted us the best, matching our expectations the closest with regards to speed. If you have a ready-made product of good quality, the high level of competition here becomes an advantage – especially in London, a global city. People from diverse and cultures live and work here. This is an advantage for firms coming in from abroad.”
We’ve clearly proven our success
Referring to the large competition in the UK, Berlin, Paris, and other firms based in the U.S., Sosyal says, “the sector which we’re in is very competitive. Segmentify’s biggest advantage is the proven power of algorithms. Today we have around 30 clients in the UK, and 200 clients throughout the world. We gained almost all of these through entering EU tests alongside our rivals and earning more endorsements at the end. By being recognised as one of the 25 companies at the forefront of machine learning, we have also in a way proven the quality of our algorithm.”
“For us, the most important aim is to establish our brand quality in the UK and to generate some large-scale clients to obtain some social proof in response to the question “Who do you work with?”,” says Sosyal, who continues, “This is obviously not that easy of a process. No matter how high quality your product is, it is not easy to guarantee this in a new sector. But thanks to our UK team’s correct aims and good managing of our sales process – in particular in our fair sales – we have landed clients such as Virgin and Mothercare.”
To entrepreneurs who are seeking to invest in the UK, Sosyal advises, “It is important to enter the sector with a finished and high-quality product. After that, the first investment must be to bring on board a British salesman who has expertise about the target sector and the target customer base. Additionally, without the necessary sales and marketing budget, you will likely witness a loss of money, time and opportunities. The sales team must always be supported by marketing that is applicable to the target sector.”
“For many years I managed projects with multinational teams. This is why I feel more comfortable that our current UK team employs two British, one French and one Turkish associate. However, the difficulty of forming a joint culture cannot be denied”.