How I got started in business Sam Barnett of Struq…
Struq is the leading online ad personalization company.
The company enables advertisers to deliver relevant, personalized video, display and mobile ads to their consumers. Through understanding which customers are likely to click, Struq delivers £19 in revenue for every £1 spent. Struq’s solution is built upon scientific principles and the ability to identify new prospects and convert existing customers, resulting in the highest response rates and lowest acquisition costs for clients.
Struq is transforming advertising from a generic push, to a relevant personalized communication.
Discover how Sam Barnett of Struq got involved in business
1. Sum up your business in a sentence?
Struq’s proprietary technology identifies profitable in market online users and serves them with fully personalised and creatively optimised ads, delivering unmatched results.
2. What were you doing before?
I studied Law at the University of Leicester and obtained my LPC from the Law School at the College of Law. I worked in a variety of strategic, legal and business development roles at Espotting and subsequently MIVA (The pioneers of search advertising in Europe).
3. Where did the idea come from?
I realised that online advertising was becoming increasingly costly for companies, however there didn’t seem to be any consideration given to the quality or the specific content of the ad shown, quantity was everything. I was sure that personalising ads to each user would make them more interested in the ads that they were shown which would translate into higher revenue for our clients.
4. Did you always want to be an entrepreneur?
I only realised at 23 that it was a viable option
5. What's your unique selling point (USP)?
Every £1 spent on advertising with Struq generates £19 in revenue for our advertisers.
6. How do you make money?
We have a simple business plan. We function on a CPC or cost per click basis; our customers only pay for the clicks. This means that they only pay when the fully personalised ad is clicked on by the target user.
7. Who are your competitors?
Our competitors are companies like Criteo and Brainient who are offering personalised video and display ads. However, we are a step ahead as our innovative technology drives user engagement and our ads are fully personalised by processing billions of data points per user.
8. How have you funded it so far?
So far Struq has been self-funded. It is now profitable and we work with the largest brands in the industry.
9. Which idea are you a bit jealous of?
10. What was the best bit of advice you received and who was it from?
All that matters is product / market fit - Marc Andreessen
11. Where do you see yourself in 3 years’ time?
In 3 years’ time Struq will be the global leader in ad personalisation on every screen imaginable and we will be known as a truly ground-breaking, disruptive company. We will be recognized for meaningful personalization and performance
12. If you weren't doing what you're doing now, what alternative career would you choose and why?
I would have been a professional golfer.
13. What is success to you?
Disrupting an industry at a global scale
We are always keen to here your views, please do let us know what you think of these articles. If you know any young businesses from your area you would like us to profile, please go get in touch.
Useful Links