Monzo in the media

You could have just replied:

“No.”

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I agree, I applied for starling overdraft in the same manner and it just gave a no, and I will never know if it’s because I requested said limit :sweat_smile:

Despite not being regulatory compliant for a few years :joy:

Why should that matter when it’s no longer the case and has nothing to do with UX?

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9 posts were merged into an existing topic: Interest rate rises - impact on Monzo

Nothing really here , but it came up in my feed.

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Well this makes this place feel like the height of cynicism:

Monzo used relationship marketing to take advantage of low customer satisfaction, connect with their target audience, and turn their customers into loyal followers.

Relationship marketing is a strategy that keys in on customer emotions to build relationships, foster customer loyalty, and increase customer engagement to lead to customer advocacy. Relationship marketing tactics include community building, branding, and referral programs, among others.

And look, we’re a marketing tactic… (emphases mine)

Monzo’s main relationship marketing tactic early on was to build a brand community. This brand community fostered customer loyalty and engagement, gave their customers a sense of belonging, and humanized their brand by bringing themselves seemingly closer to their clients.

Emphasis mine. Wow. Community only really works when it’s a genuine endeavour, not something else wrapped to up “seem” genuine.

They Built Trust Through Radical Transparency
… They started moving toward radical transparency by building a transparency roadmap. They also built a transparency dashboard…

Neither of these things (the roadmap or dashboard) exist any more.

They Provided Proactive Customer Support

No comment, except to note the tense.

Monzo Used Relationship Marketing to Kickstart and Sustain Growth—You Can, Too

Goodness me.


Right, where to start with this abomination?

  1. Don’t cynically exploit your community. They will turn on you.

  2. Providing a set of examples of really good stuff that a community-centric organisation used to do, but doesn’t any longer, is not a good look.

  3. Trying to sell this as a case study without really understanding how community fits into the wider (for want of a better phrase) digital disruption ecosystem is a fail.

  4. Seeing community as part of marketing is a fail. (I know Monzo does/did do this. But that doesn’t make it right and is a debate for another time…)


This is also a bit sad given that community seems (to me at least) to be a bit of a legacy hangover. It was a reminder of some of the excellent initial work, whereas we’re now in a situation where Corporate Monzo takes away things like the customer counter, depriving the Community of a little bit of joy and a bit of countdown fever to the next milestone (not to mention the buzz and free publicity). When you lose this form of engagement you’ll never get it back…

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I don’t see the problem with the article. All those things were marketing strategies, just because they were genuine beliefs and principles, doesn’t mean they weren’t also used as marketing strategies.

Something seeming genuine and being genuine are not mutually exclusive. In fact, as you point out, the two go hand in hand.

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I am pretty sure that for every single startup with all their diverse marketing strategies, there’s an obnoxious marketer out there ready to claim that it’s just part of what they knew all along. To me it feels more like Monzo followed an “Agile”, in the true rather than more commonly practices cargo-cult, sense and engaged deeply with the actual customer.

Relationship marketing is a form of marketing that emerged in the 1980s, in which emphasis is placed on building longer term relationships with customers rather than on individual transactions. It involves understanding the customers’ needs as they go through their life cycles. It emphasizes providing a range of products or services to existing customers as they need them.

Yeah, that’s adjacent, not actually what happened, and so vague as to be meaningless.

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I couldn’t agree more with @Peter_G

Community is not a “marketing tactic”. Perhaps some view it that way, I most certainly did not, and I’m not afraid to share that I caught heat for it on occasion.

My stance is simple - and that is that product community management is not just about representing your company to your customers, but also representing your customers to your company. And when your customers are saying things that your company doesn’t want to hear? That’s when it’s the most important.

There was a time when this was seen as the highest priority. And sure, businesses grow and evolve and change and face new challenges. But real community is foundational. As in, those efforts must continue to be supported. If they rot, you’re left on shaky ground.

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I think whoever is in charge of the Monzo Twitter account has had too many E numbers!

Weird set of tweets in this thread :person_shrugging:

Have a look at all the polls? :rofl:

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I miss the days when that account was relevant.

@Peter_G are you now in charge of Monzo Twitter?

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Jonas was a guest on the 11:FS podcast which can be found here :point_down:

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Cheeky :joy:

(I can confirm I am not)

All those What’s are annoying me. The game is called Would You rather, not What would you rather!

Did they put someone new in charge of social media this year? Scrolling through a whole lot of cringe there. Reeks of millennial trying too hard to fit in with the gen z crowd. A bit like me when I trash talk my friends for being bad at Wordle. I only embarrass myself.

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“throughout 2020 we doubled our annual revenue run rate and then doubled it again in 2021”

Given that by the end of 2019, Tom in the 2020 annual report said they’d got to £90m annual run-rate, that potentially puts Monzo at £360m run rate currently.

Profitability within reach by the sounds of it…

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6 posts were merged into an existing topic: Removed Posts - February 2022

If we can work out the monzo.me for the new chief exec, perhaps we could have a whip round for a quid for him to pop by and say hello?

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