Henry Innis, CEO and Co-Founder at Mutinex talks about Mutinex’s recent funding while taking us through his top marketing observations from 2023:

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Hi Henry, tell us about yourself and more on what inspired the Mutinex platform?

Mutinex GrowthOS solves a problem that Matt (Farrugia, Mutinex CCO and Co-Founder) and I identified during our time in the advertising industry. Basically, companies are making an increasing number of decisions about marketing investment every day. GrowthOS is a foundational model product, which works to generate large, reliable models rapidly to ensure marketers know their next best decision as it relates to revenue.

There’s a wealth of data available to measure marketing campaigns, but very little of it speaks to the metrics that actually matter to a business (ROI, growth).

We’d love to hear about your recent funding and what’s in store next for the product roadmap? What can end users expect?

We held back on venture capital investment for a long time because we didn’t want to rush into such an important relationship. We’ve been really happy with EVP as investors and we’re so pleased that they came on board to fund us for a second time – their biggest investment ever. The latest investment is a scale round.

What we’re looking to do is three things: scale our product to own the decisioning workflow, scale our footprint to cover a large geographic region and scale our revenue towards the path to profitability.

How is the Australian martech market shaping up, can you mention top trends that are defining this segment in the region? 

I think Australian MarTech, by and large, is fairly static and stagnant. As with most MarTech, we haven’t really seen significant innovation – more perfection of existing products and workflows. Australia is no different, having birthed CDPs such as Lexer and retail media platforms such as Zitcha in recent times.

What is interesting is the willingness to pay in this market. I think marketers crave good solutions, and largely, international martech has left Australia to some pretty sub-par satellite office experiences. So that leaves gaps to innovate with customers who genuinely are willing to pay and contribute to innovation within the market.

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Can you talk about the state of marketing analytics and what today’s digital businesses need to do more of to drive better analytics processes to be able to use this data for future goals?

There are a couple of parts to this question. Firstly, a lot of businesses are a bit overwhelmed by data and analytics. That’s to say, we’re collecting a lot of data, for no particular purpose, which is stored in places and formats that are largely inaccessible to decision makers. So the first part of the problem is accounting for marketing data.

The second part of the problem is turning it into actionable insights. I would argue that if you’re making marketing investment decisions off the back of your marketing data then you’re probably driving towards the wrong outcomes whilst simultaneously making a lot of unnecessary work for yourself by zooming in on  the level of detail at which you need to make decisions.

If you feed all of that data into GrowthOS and link it directly to business metrics like ROI and growth outcomes, then you automatically reduce your decision making overhead and optimise the things that really matter to your business.

What key skills should modern marketers sport to be able to drive a more result oriented process on the whole?

There’s a lot of great research from organisations like the Ehrenberg Bass institute that suggest that the rules of marketing are really pretty uniform. The best marketers understand these rules, how to apply them to their industry and then leverage their data to understand when they need to break them to really make an impact. Understand the rules, write the playbook, and then figure out when the playbook should be thrown out the window.

Can you comment on the increased use of AI in this segment and how you feel it will redefine the industry? 

There’s a lot of buzz (and a lot of anxiety) around AI and how it might impact marketing and advertising more generally. We’ve seen some really bold predictions. I think the bottom line is that if we really nail AI, we’ll use it to reduce the amount of time we spend doing low impact work and making low impact decisions and accelerate impactful decision making.

A few last martech thoughts to leave us with, before we wrap up!

SaaS was once the future. Now, as we shift to foundational models in the cloud, Models as a Service will be the new future.

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