Mission based business for next generation of customers
AN ASK FROM CBA IN 2020
CBA is looking for ways to build deeper connections between young consumers and bring value to (online) merchants.
Opportunity: Deal discovery is broken
• Deal hunting is a daily ritual
• No solution in market to keep track of relevant deals
• Users rely on scrappy “hacks”
RESULTS
Strategically valuable business
A stand alone business that brings strategic value for CBA.
Fast to market
MVP in market by 30 June 2021, 48K Gen Z reached. Hand off business with a full running startup working team in 6 months.
OUR THINKING
Focus on Generation Z
It is not about designing products and services specifically for the next upcoming generation. We want to understand what the emerging needs of Australian consumers are and turned to Generation Z for inspiration by understanding their values, needs and behaviours.
50+ qualitative research interviews alongside with chasing down any Gen Z spotted in Newtown for impromptu Guerilla research is never easy.
INTRODUCING
Cheddar: A deals platform
Cheddar is a deals and discovery platform where we help Gen Z maximise their spending by bringing more value and doing it the smart way.
Cheddar brand: Technology as an enabler
Young consumers are enthusiastic adopters of technology. They see it as an enabler, a way for them to get ahead. Our brand references the retro futuristic style of the early 2000s (Y2K). Y2K was when our young consumers first came into contact with the internet. Our nostalgic brand identity references that period and brings an optimistic view of technology.
Key features
As a content business, our first transition is deal discovery where we want Gen Z to have fun while discovering deals from the brands they love. However, we plan to rapidly expand beyond this. Cheddar’s value proposition transitions as it delivers capability, increasing reach and depth of engagement.
Boost
Boosts use FOMO to drive daily engagement. A powerful reason to re-open the app every day and exclusive space for brands to showcase scarce, high-value deals
Survey
In app micro-interactions create opportunities for consumers to engage beyond deals. Short and simple question that appears in the stream to gather insights from our consumers.
Stacked deal
Design variations for different purposes enable consumers to quickly understand the value of the deal in a glance. Stacked deal cards are deals on deals that bring maximum value for users.
Cashbacks and points system
Points incentivise high value behaviours and own white space in market. Key to incentivising activity outside of deal redemption (e.g. referrals, surveys, card linking etc.)