eFOLDi is a research-driven UK company developing electric personal vehicles to bring freedom to people with reduced mobility. I met Sumi and Jin, the co-founders, at VirginStartUp's Crowdboost Crowdfunding Accelerator. They asked me how they could make their company more attractive both to investors and consumers so that they could create a momentum using the crowdfunding campaign as an opportunity. The solution to their problem was clear: rebranding and a strategically designed crowdfunding marketing campaign.
What traction did they have before fundraising and rebranding?
Secured distribution agreements for 4900 units in their 1st year
Won the British Invention of Year 2016
Granted £115k awards by Scottish EDGE and Enterprise
Supported by Virgin StartUp and VOOM
What was their objective?
Sumi and Jin decided to run a crowdfunding campaign because they needed to raise funds and create brand awareness to improve sales, grow their company and increase the business valuation.
What did they achieve?
eFoldi reached 100% of their £350K target in 24 hours and closed their campaign at £939,650 raising 268% of their original target.
How did we achieve it?
They had to launch rebrand and deliver all of the campaign materials in just 5 weeks so that they could launch the fundraising campaign on their target date. Therefore, whilst the eFoldi team was working on the financial and technical preparations, me and my team worked on rebranding, as well as the marketing campaign materials such as - executive summary, pitch deck, campaign banner and their landing page.
This is the process we followed to make eFoldi a great success story with rebranding and fundraising marketing campaign design.
Branding and Communications Review
First, I sat down with Sumi and Jin to review their branding, brand positioning and marketing communications. Their branding and the way they communicated back then was not right for the UK market which was their major target market. To instil confidence in investors and use the campaign as a brand awareness opportunity we swiftly took action and rebranded the business.
Rebranding with Psychometrics before Fundraising
2.1 Analysing co-founders' psychometric profiles: Sumi and Jin went through a psychometric test to help us understand how they will represent the company before investors, stakeholders and customers.
2.2 Defining the brand meaning and value offering: By considering their target audience and what their product means to them as a companion in their daily lives, and also by studying their competition, we found what their brand meaning will be and what their marketing message will convey.
2.3 Creating a visual representation of their market: Before reflecting our insights on the new identity design, we created a visual map of the market so that we better understood how we could help the brand stand out visually and create the right perception.
2.4 Designing the new eFoldi brand identity: We designed a completely new brand identity system as part of the eFoldi rebranding project before they start their crowdfunding campaign. The new logo design pays homage to their grandfather, mimicking a scooter moving towards the right - positive direction and new colour instil confidence in people.
2.5 Delivery of brand guidelines and marketing collateral: After the campaign, they were going to exhibit in a London show so we made their new business cards and leaflet designs ready on time and delivered their new brand guidelines to their marketing team.
Crowdfunding Marketing Campaign Design
Executive summary design: Sumi and Jin sent us their executive summary copy and financial tables to design their campaign's executive summary. We designed a single page A4 format document showing all essentials about their business and proposition. They used that document alongside the pitch deck to attract lead investors before making their fundraising campaign public.
Pitch deck (Investor Deck) design: We delivered a stand-alone PDF investor deck covering all critical and important information about their business, the team, finances, market, traction and the round details. They used this pitch deck to run their calls and meetings with potential investors both in private and public stages of their campaign.
Crowdcube banner and campaign visuals: We designed a Crowdcube campaign banner featuring the product and the team behind the invention. The banner was so successful that it attracted enough visitors to overfund their campaign in under 48 hours. Alongside their banner, they also received a series of images showing product details, quotes, awards and team members to support the positive investor perception.
Landing page and social media campaign visuals: The team wanted to have a dedicated landing page on their own website so that they could collect interest from potential investors and their existing customer base. It took us only 2 days to put together the landing page on Wordpress and make it ready for them to direct people to before their Crowdcube campaign went private. Then, with their consent, they got in touch with them to say "We are now crowdfunding." so that they can make their investments.