I’ve recently stumbled upon Monzo and I feel like you’re honestly missing out on one of your best target audiences. I’ll tell you why!
You don’t have any accounts available to those under 18 or those who are currently a student at college/university. This is a new and modern service and you’re not really targeting young people at all. I feel like this is honestly a missed opportunity.
People like me are young, worrying about the scary adult world and willing to be the ones to try new things.
Personally, I’m just shy of turning 18 and I’ve had a bank account since I was just 11 years old. I’ve been actively using banking ever since, from my first monthly allowance from my parents, to now while I’m at further education college and make several contactless purchases throughout the day.
Monzo can be there for the new students out there and help ease them into the world of managing one’s own finances, bills as well as growing a loyal customer-base that will grow up and spread Monzo’s love to all their friends over social media.
A single student can have dozens/hundreds/even thousands of followers on social media platforms and this’d make them a fantastic way to get the word out! That’d be a lot of publicity and potential long-term customers. (Memes too! )
Not to mention Monzo’s goal of helping customers financially – who better than people who are new to all of this? Monzo’s pulse graph would be a dreeeaaammm to people who have never had to pay a single bill before. A dream.
Far-fetched thought: Imagine if Monzo one day became as ubiquitous and recognisable as Starbucks? Imagine people posting on Instagram and Tweeting about how Monzo has helped their day-to-day! I’d love to see a day in the future where the distinctive coral-colour is as well-known and as cool as having a simple green logo on your cup. Just a weird idea - don’t mind me!
Anyways, apologies for the long essay and I hope you continue being awesome!
How do you feel? Do you think that this would be a good, viable idea? Please add your feedback! I’d love to read it.