We thought the questions asked in the discussions area in our Crowdfunding Raise were superb so we wanted to replicate them here. Please let’s keep the discussions going and put forward your ideas to keep growing Crunch (and therefore your investment!)
Investor query (originally posted on Seedrs):
I might have missed it, but I can’t see any detailed explanation of how having a free version of the platform improves the business. Is it simply a lead generation / upsell tool? Whats the conversion like? How will this improve the bottom line of the business?
Our response:
We already have a 70,000 strong community with stacks of benefits and we always wanted to provide the very best free accounting software in the market.
This tool perfectly fits our community range of benefits and we know it really helps our members. We feel that some of the top accountancy software providers are charging way too much and one has even just put it’s prices up, just at a time when small businesses need the most help. For their top package this is £400 a year and we feel this is incredibly unfair.
So in the deck you’ll see the data on slide 20.
It is a fantastic lead generation / upsell tool that has delivered double the software users in less than a year.
We are hitting industry standard monitisation now of 2% and this rises 5x when someone uses Crunch Free for an invoice or expense.
We need this raise to continue proving Crunch Free’s sheer capability to genuinely help the UK’s small businesses AND one that monitises brilliantly. This can very easily super scale the business providing very low Customer Acquisition Cost (CAC) and very fast growing revenues.
I hope this question sufficiently answers your question.
Thanks,
Darren CEO & Founder
