Bin Chen and Andrew Chau are two Boba Nerds that met and decided to chase perfection while upholding quality, passion, and transparency. Here’s their story of how they are disrupting the Boba Tea industry and how Plinth helped them launch a successful crowdfunding campaign to build their second store.
The Boba's Guys 2nd retail store is a remodel of Lang’s Tea on 429 Stockton--an old school tea shop. The Boba Guys are “pivoting” the concept to appeal to today’s creative class. Showing people what you plan to build with their money is crucial. Realistic renderings of what the new shop would look like were created to inspire backers to support the campaign.
Reward Tiers That Lead To An $89 Pledge Average For A Drink That Cost $5.
When consumers go to Boba Guys, they will spend on average $5 for a drink—how do we get them to increase their average spend online? The key to moving customers into a higher price point is not an exact science. It’s based on analysis of past crowdfunding projects and most importantly consumer insight. Plinth implemented a reward strategy that was designed to certain hit sweet spots. Our end result is that our average pledge is was $89+!
Promotional Strategy
Plinth built a promotional funnel that would drive traffic to the campaign by leveraging their social media reach, evangelizing their customer base, and creating in-store promotions. A key part of the strategy was press outreach. Engaging bloggers isn’t an email and hope tactic. First we identified writers that would speak to our target audience. After that we researched their past articles to unearth themes and patterns the writers gravitated towards. Finally, we crafted dozens of press angles tailored specifically to them. In the end, 49% of the writers replied to our outreach, and 66% wrote about the campaign.
Results
The project was a resounding success. In 30 days, the Boba Guys campaign reached 112% of their goal. We were able to raise $15.6k of their $30k goal within the first week. Read more about the Boba Guys in our blog
Read more about the Boba Guys in our blog.