A new economy mattress war kicked off in 2016 as new tech meant foam mattresses could be produced for far less than the market leader, Tempur. Eve had a strong product and exec team with a great record but Casper was coming from the US and had deep pockets. Eve had to sell mattresses efficiently but also build brand to drive the future marketing efficiencies needed to make a profitable business.
We brokered an innovative and unique deal with Channel 4 to take some equity in the business, in return for a substantial amount of brand-quality airtime. We were therefore able to use our cash budgets to deliver hard working DRTV across multiple sales houses, whilst maximising this value from Channel 4 to build brand momentum in peak.
Eve made it to IPO without running out of cash, despite a significant monthly TV spend to drive necessary sales. Since then, cost per sale has improved further and investment has increased to reinforce the brand momentum. We retain a great relationship with Channel 4 but also work with all other sales houses.