Downlights
Age of company:
2 years
Sector:
Homeware
Annual Revenue:
$122k in FY20
Campaign link:
Total Raised:
$166,000
Number of Investors
234
Country:
New Zealand
Background
Downlights was founded when Tony Sykes and Jennifer Del Bel teamed up. Tonyβs daughter Emma, who has Down Syndrome, was finding it impossible to find a job. Tony decided that making and selling candles could be a solution. However, he lacked the industry expertise. A friend in common introduced him to Jennifer, who already had six years of candle manufacturing experience behind her. It was an ideal match and Downlights was born, a company with a goal to enrich the lives of young people with Down Syndrome and other learning disabilities through employment opportunities.
βWe want investors who believe in our vision and will be champions for our existing crewβ
Timeline
βJust like puzzles, we are all different pieces which together make a wholeβ
What worked well?
Recommendations for future campaigners
The Downlights crowd shared the campaign - Although not all their supporters could pledge, they spread the word (the campaign was shared 126 times in one Facebook group!)
Good communications - They never let up on the communications with their crowd, posting regular updates on the campaign page, hourly updates on the last day, and participating in over 10 Facebook Lives and interviews, including with Manaaki, which resulted in a spike in pledges. The Downlights Facebook page and website featured a banner about the campaign too.
Their sales spiked dramatically - Online sales for April 2020 were 92% higher than projections, and generated 3x more online sales than projected for May just halfway through the month!
They were flexible - A few extensions gave their crowd a little more time to consider pledging in uncertain times. They also introduced a lowered minimum pledge.
What could be improved?
Recommendations for future campaigners
Have a Plan B in place - Allow more time than you think you need to mitigate against unexpected events. Elections, natural disasters, and significant global or national events can all affect your campaign and the way the media responds to it.
The Silver Bullet
The Downlights campaign launched the morning that Prime Minister Jacinda Ardern announced the level 4 lockdown, a move to protect Kiwis from the Covid-19 pandemic. Only 6 people pledged on the first day of the campaign. To say that the timing of Downlightsβ launch was unlucky is a gross understatement.
However, they never gave up and got the message out as far and wide as possible. They approached new groups of people who could join their crowd, and kept trying new things to push their campaign, despite the unprecedented global climate. They worked all their existing resources and explored all angles right up until the campaignβs final hours.
Conclusion
Downlights raised $166k through 234 shareholders.
Your action plan
Putting it into practice
Form a passionate and dedicated team
The Downlights case really highlights the importance of having a team thatβs willing to work tirelessly to grow your impact and ensure you have a successful campaign. Form a team so dedicated that not even a pandemic can stop them.
Have an exceptional communications plan
It was impossible to visit any page operated by Downlights (their website, their social media), and not know about the campaign. Constantly reminding your crowd that they could become a co-owner of your company keeps the campaign awareness high, resulting in a greater likelihood of engagement with the campaign, whether thatβs a share or a pledge.
Be prepared to put in the hard yards
Equity crowdfunding requires a lot of hard work. Ensure you have measures in place to allow you to work on it.
How can PledgeMe help?
If youβre considering an equity crowdfunding campaign, weβre ready to help. Contact us for a chat.
You can also learn more about creating a crowdfunding campaign in Australia or in New Zealand on our main website.
