Matt and Connor are risk takers and aren’t afraid to explore uncharted territories when it comes to business. They are also big fans of iconic, long-lasting brands. So, when they observed numerous promising consumer brands struggling to get past the $3-5 million revenue mark due to neglecting early-stage brand development and using inadequate tracking tools, they took it upon themselves to create a platform that could help them stick around longer. Matt and Connor knew that if businesses could track their brand in an affordable and easy-to-access way, they could prove the value of investing more into their brand and better establish themselves.
Amidst the pandemic, they created a mock-up design of a simple SaaS-based brand tracking dashboard that would cost 10x less than the enterprise option most small brands were using reinventing the market research business model in the process. They took this to 70 brands across the country, and 10 agreed to invest $10,000 in an annual subscription. Just two years later and Tracksuit is a fully fledged business with 250 customers is quickly becoming the common language globally for measuring, understanding and communicating the value of brand. In the past year, the company has expanded into the US with the likes of Steve Madden, Supergoop, Rhone, Athletic Brewing and Bombas.
Matt and Connor believe that everyone should be able to access market research.
“Tracksuit is on the path to democratising market research, a set of products and services that have traditionally only been accessible to larger, established companies with $100,000+ market research budgets. The data that has been gatekept and hard to access for growing, challenger brands is now accessible at an affordable price point.”
Tracksuit is also leading by example by creating a sustainable business for itself, and long-term value for its stakeholders – and it has big goals to become one of the fastest New Zealand start-ups in history to hit $10 million in revenue.
