699: 3 Lessons Learned From Pivoting a Product w/ Matt Britton

ABOUT THIS EPISODE

In this episode we talk to Matt Britton, CEO of Suzy.

Click here to connect with this guest on LinkedIn.

Looking for a guaranteed way to create content that resonates with your audience? Start a podcast, interview your ideal clients and let them choose the topic of the interview, because if your ideal clients care about the topic, there's a good chance the rest of your audience will care about it too. Learn more at sweet fish Mediacom. You're listening to the BE TOB growth show, podcast dedicated to helping be to be executives achieve explosive growth. What you're looking for techniques and strategies or tools and resources? You've come to the right place. I'm Jonathan Green and I'm James Carberry. Let's get into the show. Welcome back to the BEDB growth show. This episode is sponsored by Directive Consulting, the BE TOB search marketing agency. We are here today with Matt Brittain. He is the founder and CEO at Suzie. Matt, how you doing today? How are you? You're doing here for you, I am wonderful. So...

...so, Matt, we're going to be talking about the story of your company's pivot and the things that you learned through the process of pivoting from, you know, going from selling this thing to pivoting the entire brand of the company to something totally different and what you learn through that process and of the why behind the pivot. I think this is going to be enormously beneficial for the folks listening to this. But before we do, I love for you to just explain at a high level what is, what is Susie and and what are you and your team up to up there? Yes, susie is a marketing intelligence consumer intelligence software tools that essentially allow brands to target any finite group of consumers and get answers back about what they're thinking, why they're doing what they're doing instantly. It's only meaning, during the same being that they're in, taken test concepts, packaging, copy creative ideas, unlocked new insight with real consumers, actually during the same meeting that they're in. So, Matt, to kind of rewind a bit, because there's obviously a pivot Lee,...

...you know, leading you to to what you guys are doing today. Talk to us about what the company started as and then excited to dive into what led you guys to ultimately pivoting to what you're doing today. Sure, I mean so the stories of Susie and how it was born is a very interesting one and not necessarily the common path. I had started an agency back in two thousand and two called Mr Youth, which later became Muri, which was really one of the first social media marketing agencies, and we were born really out of the facebook error being invented in the college market, which is where our company kind of originated. And since we were doing a lot of work in the social media marketing space, very early on we were doing a lot of work with influences and we built this influencer marketing software to really appease needs of a lot of our client called crowd tap way back in two thousand and ten, and we got that to spin that company out because we had a lot of third parties wearing the license that software. So we actually incubated and...

...spun out a software company from our agency. I put it in a different CEO, I would on the bill of the agency M Roi, which is acquired by googlessness, and I rejoined crowd tap of CEO about a year and a half ago. So I rejoined crowd tap and when I rejoined I entered a business where I didn't really necessarily believe in the model and the future of the business model. What crowd top had become when I joined it was essentially a network of a million consumers who had signed up to earn rewards by creating and sharing content, and I just knew in the real world that every day to consumers aren't talking about new brands on facebook and instagram. That just how consumers act in the real world. So I knew that we had to kind of shake up the business model because I didn't think the promise of that business really was strong. Moving forward, however, we had this super engage in network of a million users that I thought there had to be a better use for, and that's where Suozi was born. And so the decision to actually make that pivot math. Had you been stewing on that for was it months and months and months, or was it a relatively quick move once you made...

...you made the decision. Hey, this, this seems clear. We're going to go. Can you can you walk us through kind of you're thinking? Sure, that through that time, for when I joined the CEO, the first two things I did is I interviewed every employee of crowd top, of the company, as well as probably a dozen of our customers and the one common piece that I got out of it was essentially it was validating my suspicion that the influencer work that we were doing wasn't all that impactful. The customers really weren't getting a type of content for the reach they thought they were going to get and employees weren't really behind that current vision. However, there was a small pocket of customers and a small pocket of employees that were using the crowd type of technology to unlock insight. So there's a little bit of this kind of brewing. When I joined it was a very small piece in the business and a life all went on off my head probably the second weekend that this is the real business and even though it's only five to ten percent of...

...our revenue, if we focused on it and we reposition it could actually be an amazing company. So I learned that pretty early on and I went through a process of trying to figure out how to operationalize that. At first, you know, the messaging was we're going to split the businesses into, for the half influencer half insight first and then, you know, focus on both. But over time it became clear to me, and I probably always knew all long that we really were just going to focus specifically on this insight's business. So I would say the whole process probably took about nine months from when I joined to when, I think, the whole company was notified that, you know, this insight's business is really the future of where we're going, and then probably another three to four months later the rebrand was announced. I love it. So you mentioned Matt. We're talking offline. So there are a few different things that you learn kind of throughout the process. One thing that you've learned was the importance of having a really simple story. Can you elaborate on that for us? Yeah, I just think there's so much jargon...

...and buzz word, especially an attack. There's so many words that are so comdomly used, but the market place really doesn't understand what it means that I think in order for people to really grasp what you're trying to accomplish, you really have to oversimplify and I think a lot of product managers, a lot of entrepreneurs have the problems sort of letting go with functionality that they feel is strong. But ultimately us as buyers, whether we're consumers or US and buyers in the business world can only comprehend so much. So I think going through the real hard exercise of distilling what is the real key unique selling proposition of what you're offering and kind of put everything else to the side is really what you need to do in order to break through in this squattered world. All Right, today's gross story is ages software, a company that makes software from manufacturing operations. There were one of the first companies in their space to invest in search marketing, but is competition grew their performance plateaued. To counter this, they hired directive consulting, the B Tob Search Marketing Agency with unparalleled experience...

...in and bound Le Gen. for BDB companies, directive was able to increase a just as monthly online leads by four hundred and fifty seven percent, while at the same time lowering their cost lead by a hundred and forty seven percent. Now I have a hunch that directive can get these kind of results for you to so head over to directive consultingcom and request a totally free custom proposal. That's directive consultingcom. All right, let's get back to this interview and you speak to some of the things that there were maybe a struggle for you to let go of it with with Susie, in terms of you know, particular maybe type of functionality if the product had that you wanted to share as part of kind of the core story but had to let go of in the name of really trying to create a simple story. Sure. Well, I mean I think with Susie the idea is that you can uncover and validate these, you know, perceptions that you might have about the consumer instantly. But...

...our product doesn't just do that. It also allows you to take a set of consumers who might answer a question a certain way and tap that into a DMP, which then you could go target over media, you could tap into a variety of third party gate of visualization platform so you can take the data that comes out of your real time insight gathering and do a variety different things with it. Now you can still do that and we do talk about that, but certainly not part of our virtual discussion, because when we first started with that story that included that final piece, it became a little bit too elaborate and people weren't really comprehending it, so we stopped. That really the core use that eight ninety percent of customers were using the product for. And sure we go deeper with some customers, but you know, really try to put that off to the side, especially for the initial discussion, so people can leave the calls really comprehending what it is that our product does. Love it. The second thing that you said you learned, Matt, was how important it is been to have something that that your customers can kind of touch...

...and feel. Now you're selling yeah, if you're selling software. So interested to see kind of like talk to us more about this. Yeah, I mean, well, we're blessed to have a product that we actually can launch and show customers the results of during a demo. So, you know, we're actually showing consumers how they might use it in the wild during an actual demo meeting, giving the results during that same meeting. So then they're left with a souvenir from our meeting, which is actually output that that get if they like the product, and I think that's a great, you know, benefit versus. I think allive software product cell a vision or a dream or a promise that may or may not ever come the fruition and also kind of doing is walking through bro Shure. We're we're actually opening up the actual product and letting our potential customer a mistake is a test drive with it. Now, I know not every product actually can offer that, but to the extent that you can actually show it being used, not kind of like a data or kind of dummy version of it, but the actual software they're going to...

...be using, I think that's super powerful. Yeah, I totally agree this. This thirdpiece map that we're going to talk about. This lesson that you learned kind of throughout this pivot was the importance of thought leadership. This is obvious. This is something I'm extremely passionate about as well. Talk to us about the act leadership has had on your journey. Well, I mean, I think the reality is that we are learning more and more information right now, not from traditional media but from other people. You know, we're looking at our phones, were staring in a new seed and when we're starting a new feed, more for than not that the information is being put in front of us is from individuals. So if you actually want to get your message in front of other people and be top of mind, you need to be a thought leader. You need to be one of those people that they're getting information from and you don't want to always be selling, you know, you want to be adding value, which were I try to do with social media's that are but send a lot of time just trying to come up with ideas that other people can learn from, like me doing this podcast, for example,...

...you know like it, by me creating articles on Linkedin, by me coming up with learning from my product I think of people can apply to their products and pushing it out there and doing so. People find value out of following me, following where I have to say, and then when I have a new product needs I want to launch. Like Susie, I have an audience that cares and that's a big reason why I think we've been able to get out there on a lot of people are saying I'm seeing susie everywhere. It's because people like myself and other exacts at our company of really taken at the heart to put our name out there and really try to add value. Your audience love it. Ma. If there's somebody listening to this, they want to stay connected with you, they want to learn more about susie. What's the best way for them to go about doing those things? You can follow me on twitter at Maddib and matty be for more about any personally at Matt Brittaincom and ATT Ririeboncom. Had to learn more about our product, go to FK dutycom. Fu Dy wonderful, Matt. Well again, thank you so much for your time today. This has been incredible and I really appreciate...

...your sharing with us. Yeah, thanks, driving. I really appreciate everything you do and looking forward to continuing to following. There are lots of ways to build a community and we've chosen to build the be tob growth community through this podcast. But because of the way podcasts work, it's really hard to engage with our listeners, and without engagement it's tough to build a great community. So here's what we've decided to do. We're organizing small dinners across the country with our listeners and guests. No sales pitches, no agenda, just great conversations with likeminded people. Will Talk Business, we'll talk family, will talk goals and dreams, will build friendships. So if you'd like to be a part of a BEDB growth dinner in a city near you, go to be to be growth dinnerscom. That's be tob growth dinnerscom. Thank you so much for listening until next time.

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