Birchal, Australia’s leading equity crowdfunding platform, connects investors with innovative brands. As part of their ongoing mission to expand offerings for their users, Birchal sought to identify the next product that would deliver the most value to their startup and scaleup issuers. To ensure they were investing in the right direction, Birchal turned to Heatseeker for rapid, data-driven market testing.
The Challenge
Birchal needed to test the demand for several potential product offerings to engage its issuers—founders of startups and scaleups—through targeted LinkedIn InMail campaigns. The goal was to determine which offering would resonate most with their target audience and which was worth developing further.
The Solution
Heatseeker worked with Birchal to design a market test that would showcase four distinct product offerings:
- Birchal Marketplace with a product showcase
- Birchal Data-Driven Insights
- Birchal Mentor Network
- Investor Relations by Birchal
These offers were presented to Birchal’s target audience via LinkedIn InMail, allowing the team to gather real-time feedback and identify the strongest offering.
Results
The test results clearly pointed to Birchal Marketplace, where startups and scaleups could showcase their products, as the most viable next product offering. This outcome provided Birchal with the confidence to proceed with developing the marketplace, knowing it resonated best with their audience and aligned with their long-term strategy.
Impact
Heatseeker is helping us identify new value propositions and test these in the market — so I know we are investing resources and time in areas with the most potential. – Matt Vitale, CEO, Birchal
With Heatseeker’s rapid experimentation platform, Birchal was able to make a strategic decision to prioritize the development of Birchal Marketplace. The clarity provided by the test results allowed the team to move forward with confidence, focusing their efforts on the most promising product offering for their startup and scaleup issuers.
Conclusion
By leveraging Heatseeker’s data-driven testing, Birchal successfully identified the next product offering that would bring the most value to its community. This informed decision-making process ensures Birchal remains a leader in the equity crowdfunding space, offering solutions that truly resonate with its growing base of founders and investors.
