Challenge
Ragnar is a 20 year old, Salt Lake City based outdoor brand specializing in group relay races around the world. The company experienced meteoric growth in its first two decades but increasingly found itself pursuing an unfocused growth strategy. COVID-19 shut the business down overnight and created an opportunity to reimagine the brand and where it was headed. With a catastrophic reduction in revenue in Q2 of 2020, Ragnar’s leadership team turned to Fluid to help it recover from the pandemic and define a more focused growth strategy going into the next decade. 
Solution
We began with a series of executive offsites focused on understanding company history, challenges, customers and path forward priorities. Those meetings led to the following outcomes: 

Five Year Growth Plan: We generated a five year growth plan including revenue and profitability targets and a clear understanding of growth boundaries (i.e., a definition of how we will achieve those goals within predetermined constraints across customer segments, event types, geographies, price points, etc.). That strategy became the basis for all strategic planning going forward. 
New Customer SegmentationWe also created a new, jobs to be done-based segmentation that allowed us to better understand Ragnar customers and their underlying needs—including ways in which our current offerings failed to meet those needs. Those segments have become core to how Ragnar thinks about marketing.
New Offerings: We also created a new, jobs to be done-based segmentation that allowed us to better understand Ragnar customers and their underlying needs—including ways in which our current offerings failed to meet 
those needs. Those segments have become core to how Ragnar thinks about marketing.
COVID-19 Recovery Campaigns: The biggest challenge for the business was generating enough cash to stay solvent in the aftermath of COVID-19 closures. Our team created three ‘COVID Recovery’ creative campaigns focused on bringing people back to racing in the aftermath of the pandemic which led to a historically strong media performance and record new customer acquisition. 

Impact: Since launching our COVID-19 recovery campaign, new users to the site have increased 253% at a 33% lower cost per click, all while doubling average revenue per team. Additionally, the team has started development on new streams of business based on our recommendations. We are helping the client quickly and cost effectively test new concepts with potential users with a goal to stand up new lines of business by the end of the year.  
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