New client Evolve Group is using crowd-funding in its business model – but not as you’d expect.
While commonly used by start-ups and not-for-profits to source start-up funding, crowdfunding isn’t typically used by successful, profitable businesses. Until now. Evolve Group made the decision to use this model to build hype, consumer following and refine new product, TRED Pro, before its release to the market. TRED Pro is an all-in-one off-road vehicle recovery device, specially designed to get four-wheel drives, ATV and equipment out of trouble when traction is lost in sand, mud or snow.
The strategy saw Evolve Group raise more than 300 per cent of their original goal, allowing them to implement feedback and hone the final product. The result is the release of TRED Pro to retailers across Australia including Supercheap Auto, Autobarn and Autopro.
KDPR assisted Evolve Group by creating and implementing a strategic communications plan targeting key industry media.
This isn’t the first time Evolve Group has bucked the traditional product launch business model and effectively used crowdfunding to build customer excitement. They recently completed one of the world’s largest crowdfunding campaigns for the revolutionary product Flow Hive, which won top honours at the annual Good Design awards in Sydney.