This morning at the Future Unpacked LIVE forum, held in Sydney, CEO of FivePointFour Tamara Trentain shared how she rose up the ranks in the online meal delivery space.
After only three years of operation, online healthy prepared meals company FivePointFour makes and delivers around 50,000 meals a week and has grown by more than 900 per cent since it was founded.
Trentain, who is president of the Brisbane chapter of The Entrepreneurs Organisation (EO), attributes her success to her background as a marketer and entrepreneur rather than a traditional manufacturer.
It is this skill, she says, that helped to grow the business from under $500,000 to over $10 million in turnover, and to become profitable in under two years using no capital.
Using a strategy that targets millennials, FivePointFour is a low-carb, low-sugar offering using only 'good fats'.
It appeals to the schedules of people who want to eat well during the week without fuss, then "splash out" on the weekends, Trentain says.
She says the brand is much less focused on traditional above-the-line advertising (such as radio and TV ads) and more keyed into below-the-line marketing through social networks.
"Millennials are playing in the below-the-line space," she says.
Engagement with this group is a key focus, and a company representative can be contacted 24-7 through the use of an engine room in Manila.
But FivePointFour's primary way of connecting with its customers is through texts and web chats.
"Millennials don't answer the phone," she laughs.
The company also engages with its market through Survey Monkey and requests for online ratings, in the "language" they understand.
"With the meals, we might ask a simple question like 'like it or dump it?' and we get immediate feedback.
For more coverage of the Future Unpacked LIVE forum, visit the LIVE section of our website.
