Matt Britton On Cheddar TV Talking About The Launch Of Suzy- 3/20/18

So how many partnerships with brands do you have at this point?

We have 70 partnerships with brands already.

How did you already get those in the pipeline without even really officially have launched?

Well, Suzy came from a company called Crowdtap, which I had founded and spun off back in 2011, which was an influencer marketing platform. We pivoted Crowdtap into Suzy based upon what I thought was the best business opportunity moving forward, which was consumer intelligence. So part of those 70 customers were former customers of Crowdtap, who we kind of, you know, evolved or transitioned, if you will, into Suzy. But we've also sold in many new customers in the past three to six months. And we have just incredible feedback from brands.

And so in this feedback from brands, I mean, everybody is trying to tap into this consumer psychology element and figure out exactly how to appropriately target their audience that they're going after. So what is, what are some of the pain points that they've addressed with you directly?

So Suzy itself isn't just about targeting consumers. First is about understanding consumers. Suzy has a super panel of a million consumers who've signed up over the last seven years. Formerly part of a crowdtap who earn rewards by answering questions from brands in a variety of different forums. The Suzy product for Brands is a B2B self service platform where brands can log in at any time, ask consumers questions in a variety of different formats, and get answers back during the same meeting they're in. So they can test creative, they can test copy, they can test content, ideas, you name it, uncover insights, and get answers back right away.

Wow.

So it's almost, if you look at it like ways where you wouldn't drive from here down on Wall street to New Jersey without going the ways and seeing how other people have reported traffic ahead of you. But so many brands over the 20 year experience I have in agencies made decisions based upon guesses, and now every decision they make can be tested so they can leave no assumption untested.

Okay, so real time is part of this real time testing. And also you are looking at this concept of Siri for business. What does that mean?

Well, Siri for business wasn't my term. It was a term from another publication that wrote about it. I think what the reporter was trying to say is that just how you ask Siri a question and it gives answers back to you. That's kind of Suzy does for you. So if you're, say, Coca Cola and you want to know what millennials think about your brand in three words, you can ask that question and within minutes have well over 100 answers a word cloud of what consumers actually think about Coca Cola.

Okay, so this, this reporter, in listening to you, had coined this for you.

Coin.

It's their words. Okay. For you, it's about gamification too, right?

The gamification is what gets us the speed. So once we target a question towards a finite group of consumers, they get notified via text, via email, and they only they know that they need to answer quickly or they won't have the opportunity to earn the rewards. And that's what gets us to speak.

And they get hooked on that too, though, that. Right. It's like they get to win. I mean, who doesn't want to win?

They get to win. And I think market research needs to change. If you think about it, if you're standing outside a restaurant and somebody's walking out and you're like, how was the restaurant? They're like, oh, the steak was good. I didn't love the service. They're not going to answer 20 questions about the restaurant for you. That's where I think market research needs to evolve to. It needs to be super short term short, you know, short form, where consumers can enter and have it be built for the flick, not have them fill out a long questionnaire. So in part of building Suzy, it's really understand this new consumer, this mobile, centric consumer, and. And building sort of a tool for them that will allow them to easily give feedback in ways they want to.

One of my favorite elements about this is that Kevin Durant just backed your last round of funding. KD 35. Yeah. So why did Kevin Durant decide to get involved with your brand?

So the Durant Company, which is not just Kevin Durant, but his partner Rich Kleiman, who I've known for many years, you know, they've backed a variety of companies that are really innovative in the space, Postmates being one of them. And I think that they just saw in Suzy what a lot of our brand marketers see is that this could really help transform the way that marketers do business by empowering every decision by data. They're smart, savvy investors, and it's really as simple as that. And that's why they're getting involved.

Are there more athletes, I'm sorry, that you're looking to work with, especially as we see athletes take on more of the role of venture capitalists with so.

Many things that they're. Since the Kevin Durant investment, I've filled the calls from probably a dozen athletes. Some, you know, a less superstar athletes who are interested in investing as well as Hollywood celebrities, etc. It's funny. I mean, I think some entrepreneurs can look at that as almost like a distraction like you're trying to, you know, rub rub elbows with the rich and famous. I look at it as a benefit to them that they get to be involved with the company and get deal flow with a company that could have tremendous upside. But for us it does give us a certain cachet. But we're going to be smart in terms of the investors we bring aboard and really stay focused on our vision for the business.

All right, 10 seconds left. Suzy, why the name?

Well, if you look at where artificial intelligence going and voice is going, there's tools like Siri, Alexa and Watson and we want Suzy to be a cousin of those people and really succeed in that form.

All right, thanks so much. Matt Britton, founder and CEO of Suzy.