Successful CMOs achieve growth by leveraging technology. Join us for GrowthBeat Summit on June 1-2 in Boston
, where we'll discuss how to merge creativity with technology to drive growth. Space is limited. Request your personal invitation here
Everybody loves free stuff. Free stuff is the best, no matter what it is.
PINCHme takes this easy path to capturing the human heart and uses it to benefit consumer brands. The Australian company will launch in the U.S. on Nov. 12 but gave VentureBeat an advanced look into its business.
PINCHme connects consumer packaged good (CPG) brands with product testers, who get free samples of products in exchange for their feedback. You fill out a short online questionnaire about your preferences, and every other week, PINCHme presents you with a selection of products.
You choose products you want to try, and they are delivered within a week. Then you have 30 days to provide feedback and share your thoughts on social media should you so desire. PINCHme gathers data on what interests and “delights” you and will present you with more relevant items in the future.
“PINCHme gathers valuable data about members when building their profiles, so brands can strategically target sampling programs to hit the right demographic and cut back on product waste,” founder and chief executive officer Jeremy Reid told VentureBeat. “We also provide reports to brands with information about consumers who sampled their products, metrics, custom insights, consumer feedback, and sales conversion, so brands no longer are blind to what people think.”
It doesn’t matter if it’s a plush green pig, a box filled with customized hot sauces, or a black football locker — people jump at any and all opportunities for free stuff.
The day when Taco Bell gave out free tacos, the line went around the block. And the tacos only cost 99 cents anyway.
On the other side of this rabid excitement for freebies, you have brands who need genuine feedback about products so we don’t find ourselves with more frozen dinner entree toothpaste and Harley-Davidson perfume.
Subscription e-commerce companies like Birchbox, BarkBox, and Boink Box (and others that don’t begin with the letter B) gained a lot of momentum over the past couple years for delivering consumers monthly boxes filled with product samples. Consumers like the variety and opportunity to try new things, and brands like hitting a new audience with new products.
PINCHme is free for consumers, and Reid said it is also cost-effective for brands.
“Product sampling historically has been a popular but inefficient marketing tactic that has led to massive product waste and has essentially left brands blind to what consumers actually think of their products post-trial,” he said. “In recognizing the inefficiencies in current sampling programs, PINCHme was founded to provide a solution for brands and help them not only create more strategic programs but [also] increase ROI.”
The company was founded in Sydney, Australia earlier this year and quickly gained traction in the Australian market. Reid said 2 percent of Australians are already “pinchers,” and so the team decided to expand to the U.S.
Current samples on the site include Gevalia instant mocha latte, Mekar eye-firming cream, Omega-3 krill oil, and something called “Hollywood fashion tape.”
Investors include Australian Capital Equity, Indigo, LJCB Group, and others.
VentureBeat’s VB Insight team is studying marketing analytics...
Chime in here, and we’ll share the results