Investment thesis
- The effectiveness of traditional customer acquisition in B2C businesses via paid channels is diminishing. The key reasons for this are rising costs (hence lower ROIs) and consumers becoming increasingly overwhelmed by endless advertisements.
- Given these challenges, CMOs will increasingly favour alternative acquisition channels to make up for reduced performance in traditional approaches
- One such channel is referral marketing – the heart of Mention Me’s platform. Referral marketing, when executed correctly, is a highly efficient way to acquire more attractive customers for a brand. We believe it will form a far greater part of marketing budgets over the coming decade, as brands prioritise nurturing direct and trusted relationships with their customers
- Mention Me is the European leader in referral marketing, serving over 400 brands including household names such as Puma, Pret a Manger, ASOS, M&S and Huel. It’s favoured as the premium solution in its space, with its data-driven approach and strong track record of achieving high ROIs for customers
- Given the richness of data underpinning Mention Me’s platform, we believe the product will also play a strategic role in optimising customers’ other marketing channels, leading to product-led growth opportunities in the future
- Building on Mention Me’s success in Europe, our funding will support the business’s plans for US expansion and product development, supporting its growth as it becomes the go-to product for customer advocacy over the coming years
