Summary
On this episode of The Bentonville Beacon, host James Bell is joined by Tim Hall, Co-Founder of Simporter, a company providing software that automates new product research, including white space exploration, pre-launch forecasting, marketing simulations and product monitoring. After decades of working in consumer packaged goods (CPG), Tim recognized the potential of artificial intelligence (AI) and made it his mission to make it easier for non-technical people to cut costs, improve consumer loyalty, reduce waste and grow revenue organically simply by embracing AI. Throughout the episode, James and Tim discuss the various problems that Simporter’s solutions solve; Simporter’s relocation from Atlanta to Bentonville; and the current and future utilization of AI.

Thanks for tuning in!

‍Show Notes
Timestamps in this blog are for the audio-only version of the podcast; video timing differs.
(0:53) Introduction to Tim Hall
(3:32) Update on Simporter’s Ukrainian Team
(7:40) The Problem Simporter Is Solving
(12:26) About Simporter’s Other Co-Founder
(13:49) Simporter’s Future Growth
(14:47) Tim’s Experience with the Fuel Accelerator
(16:53) How Bentonville Helps Simporter
(21:17) Tim’s #BecauseBentonville Story
(23:51) The Utilization of Artificial Intelligence
(30:08) Advice to People Wanting to Use AI
(37:43) Closing Question
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‍Links‍‍‍‍‍‍
JAMES BELL
BENTONVILLE ECONOMIC DEVELOPMENT‍‍
TIM HALL
SIMPORTER
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Quotes
“The biggest problem we’re solving is product failure. You spend a lot of time and money launching a new product and then 95 percent of them will fail within two years of getting on the shelf. So we wanted to solve that with better data, making better decisions and validating those in a better way.” – Tim Hall, (7:40)

“We’re building a company to last. We’re building something that will endure and grow by solving people’s problems…And along the way we’re going to make a lot of money, and that’s nice, but our focus is to build something that is going to be around for a long time.” – Tim Hall, (13:49)
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“What was unique [about Bentonville] was different groups would engage and then bring you to another group…and in each case we were getting some capital, but it’s really the people and the connections that we’re making…you’re six degrees from anybody you want to meet. And so that’s been really helpful.” – Tim Hall, (17:03)

“I would say [AI] is something different because it’s transformational. So, no, it’s not going to replace humans, it’s going to redefine how we engage with our roles today.” – Tim Hall, (23:51)‍

Automating Innovative Product Research by Utilizing AI with Tim Hall and Simporter
On this episode of The Bentonville Beacon, host James Bell is joined by Tim Hall, Co-Founder of Simporter, a company providing software that automates new product research, including white space exploration, pre-launch forecasting, marketing simulations and product monitoring. After decades of working in consumer packaged goods (CPG), Tim recognized the potential of artificial intelligence (AI) and made it his mission to make it easier for non-technical people to cut costs, improve consumer loyalty, reduce waste and grow revenue organically simply by embracing AI. Throughout the episode, James and Tim discuss the various problems that Simporter’s solutions solve; Simporter’s relocation from Atlanta to Bentonville; and the current and future utilization of AI.

Unique AI Data Solutions
Simporter is automating innovative product research within the ideation and launch stages by employing AI to analyze billions of consumer data points across search, sales, social and reviews. This allows consumer needs to be met more efficiently, as well as lowers the risk that surrounds new product development. Simporter’s software has been implemented by global brands such as Arm & Hammer and Colgate, with an average increase in new product revenue of 23 percent.
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Simporter’s solutions are unique in that unlike a consultancy, Simporter is updated 24/7 to provide insights and prediction accuracy that can be acted on to cement brands as market leaders. And, instead of having separate tools for each data source, users can use one holistic platform within their team. Additionally, Simporter’s software allows for decisions to be made based on scientific data, rather than opinion-supported research like surveys and focus groups.

“The biggest problem we’re solving is product failure. You spend a lot of time and money launching a new product and then 95 percent of them will fail within two years of getting on the shelf. So we wanted to solve that with better data, making better decisions and validating those in a better way.” – Tim Hall, (7:40)

Building a World Class Product
The three focuses of Simporter’s team are being actionable, valuable and scalable. Simporter’s software is actionable because they simplify the process, making it easy, intuitive and enjoyable. Simporter is valuable because it skips the bells and whistles to provide users with exactly what they need and nothing more. And lastly, Simporter is scalable because its tools are designed to advance across global companies with automation at the heart.

Simporter’s core values are:
     – Teamwork – Simporter’s team is committed to helping each other whenever possible, meaning when one team member wins, they all win. Simporter focuses on building a friendly and motivated work environment every day.
     – Effort – Simporter strives to put as much effort as it can into its work because by putting 110 percent into its work, it’s able to build a world-class product.
     – Happiness – Simporter believes happiness comes from working together on a major initiative that impacts Fortune 500s across the world.

“We’re building a company to last. We’re building something that will endure and grow by solving people’s problems…And along the way we’re going to make a lot of money and that’s nice, but our focus is to build something that is going to be around for a long time.” – Tim Hall, (13:49)
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Get Connected!
‍Thank you for tuning into this episode of The Bentonville Beacon! Join us weekly for more stories and advice from the entrepreneurs, business executives and community leaders who are sparking the rise of Bentonville. If you are interested in discussing whether your business should have a presence in Bentonville or would like to discuss this podcast, please contact James Bell. You may reach James at jbell@greaterbentonville.com or (479) 273-2841.