Introduction
In today’s digital age, brands often rely on web scraping and social media monitoring to understand what customers are saying about them. However, this approach can be time-consuming and may not provide actionable insights. To bridge this gap, Cafeteria is launching an iOS app that connects teenagers with brands they are interested in, allowing them to provide feedback on strategy and product development.
The Problem Statement
Traditional market research methods often rely on older demographics, which can lead to inaccurate or incomplete information about the preferences of younger generations. This can result in brands investing in products or services that may not resonate with their target audience. Cafeteria aims to fill this gap by providing real-time, authentic feedback from teenagers.
The Solution
Cafeteria’s iOS app allows teens to join and select the brands they are interested in. They are then invited to participate in surveys called "Tables," where they can provide answers via text or voice. Teens get paid anywhere between $5 and $20 for their insights, which can be transferred to popular payment platforms such as Venmo, PayPal, Cash App, or a bank account through Cafeteria’s integration with Dots, an API for payouts.
How it Works
Once a teen joins the app, they go through a lifestyle Table, where they are asked 20 to 25 questions about retail, shoes, food, music, their first car, banking, and more. They can also select eight brands that they love. The company limits the number of surveys or Tables teens get per month to three to five, as it wants them to find the experience rewarding rather than overwhelming.
Core Strengths
Cafeteria’s core strength lies in collecting unstructured data and creating insights out of it. They are building large language models that put insight data in context, training different models that help make sense of a lot of data. This approach allows brands to run prompts against insight albums and search for different metrics.
Future Plans
In the future, Cafeteria wants to enable better engagement between brands and teens. The company is also planning to offer store credit or a percentage discount as incentives for participating in surveys. Additionally, they aim to expand their capacity for brands to run more complex queries and analyze data in greater depth.
Team Behind the Scene
Cafeteria has onboarded top brands for its initial phase, but names them. The company has completed over 2,200 Tables with over 50,000 insights. Their team is led by Malhotra, who emphasized that their core strength lies in collecting unstructured data and creating insights out of it.
Funding and Growth
Cafeteria’s funding comes from top investors such as Collaborative Fund. The company has experienced significant growth since its inception, completing over 2,200 Tables with over 50,000 insights.
Conclusion
By leveraging the power of technology to connect brands with teenagers, Cafeteria is revolutionizing the market research industry. Their unique approach to collecting unstructured data and creating insights out of it sets them apart from traditional research methods. As the company continues to grow and innovate, we can expect to see significant changes in how brands engage with their target audience.
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