Sales Breakdown: How Chilango crowdsourced its funding. Lessons — Social proof, Offer, de-risking, video production…
Pls, note this is not a financial investment or business health breakdown. These are lessons and observations of how they managed to crowdsource funding successfully.
6 Important lessons (This is a masterclass in selling at scale but restricting to the top 6)
- Founder himself getting involved in the ad. Shows the involvement and the hands-on approach
- Pre-selling and hard work that happens before the official media blast. As you would have observed, they had influencers already onboarded in the business. The audience will not do complex analysis work. Their mind works like ‘if the experts are on board, then it should be right.’
- Social proof — Being featured in news shows, cooking with prominent chefs and importantly, did you observe when the individual experts were presented, the emphasis was on the brands/business they worked on, not the individual (go back and check the text weightage)
- Offer + Exclusivity — A solid offer of 8% interest (when the average interest rate on savings was around 1%). After 4 yrs, all your money back, plenty of rewards, free food, Chilango Black Card.
- Opportunity heaven — Throwing in numbers of current customer base, opportunity and being part of something revolutionary
- Video Production — Financial/Capital, raising video in a non-finance way to stand out could be because it targeted ordinary people. Music video style production, Dramatic visual to hold the attention
Further practical tips on the topic of increasing sales and profit. Link to the 8 mins and 20 mins video — https://stratsprint.ck.page/profitinadvance