Start-ups often live or die by publicity. A successful marketing pitch early in a venture’s life can grab media attention — and place it firmly in the minds of potential consumers.
One tactic is to seize on a topic that has already gained traction in the media. SoFi, the US online lender, this year saw its chance to exploit comments by Tim Gurner, an Australian real estate developer, who claimed millennials could not afford to buy a house because they spent too much on luxury food — specifically smashed avocado toast and coffee.
SoFi, founded in 2011 as a student loan refinancer, was expanding into mortgage lending. What better way to lure new customers with not only a competitive rate but also a free side order of the trendy snack?
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