Case Study: Birchal discovers winning product offering before going to market

By
Neya Abdi
February 23, 2024
min read
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Birchal discovers winning product offering before going to market

Heatseeker helped Birchal:  

  • Identify a Birchal Marketplace as its most viable next product offering versus three other potential options

The Challenge

Birchal, an Australian equity crowdfunding platform that connects investors with brands, wanted to test the demand for different offers, so it could engage Birchal issuers. Its issuers were the founders of startups and scaleups, and they wanted to run market tests through LinkedIn InMail to know which offers were worth developing.  

Heatseeking the Problem

We created a LinkedIn market testing showcasing four different Birchal features:  

  • Birchal Marketplace with a product showcase
  • Birchal Data Driven Insights
  • Birchal Mentor Network
  • Investor Relations by Birchal

The Results

The winner was Birchal Marketplace, where startups and scaleups could showcase their products. It had the highest CTR of 64.07%, demonstrating the highest engagement rate among the three campaigns. Nevertheless, the CTRs for all of the campaigns was high with an average of 57.75%, surpassing LinkedIn’s average of 38%.  

The experiment for the Birchal Marketplace resulted in 3 leads, 298 impressions, and 258 clicks with a total spend of $234.99.  

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, the CEO of Birchal

Aspiring to uncover what truly resonates with your users? Join the Heatseeker waitlist for early access or book a demo today.

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Neya Abdi
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