Hopefully the Premium account will add more users when launched, it will likely be more profitable and in demand. When you lose £120 million in the year BEFORE coronavirus, an extra £250k a month (before costs) is nothing. Of course I know there are other things happening (eg headcount reduction) to help, Plus is not the only finger in the pie towards profitability. TS Anil will have a plan and hopefully try and court the media somewhat.
You are right - I didn’t mean it that way What I mean is that some media outlets are constantly running negative pieces about Monzo - they do this because they know it gets clicks. Instead, they need to use the media to their advantage. Give them an exclusive. Team up with them for something. Give them what they want (clicks) instead of allowing them to make up rubbish.
For your second point, someone experienced (and by that, I mean TS Anil) needs to make decisions how to become profitable. Strategies coming from ‘within Monzo’ have already failed. It still doesn’t know if it wants to be a bank or a financial hub. It is the corporate world they are in, and they need to show some ruthlessness. Just as an example, if they killed all the heavy loss making accounts they would be slaughtered in the press, but I bet 12 months later it would have been worth it. Probably a correlation with all the ‘Monzo shut down my account’ fraud stories too.
I believe this allegation had been made against the Times, Telegraph and FT among others who are all subscription based publications so they don’t really benefit from clicks…
The Daily Telegraph got into all sorts of fuss over (allegedly) shilling and covering for HSBC, their major advertiser, though, so clicks is not the only game in town
Correct me if I’m wrong, but I think they have had to forecast the losses on loans they don’t think they will get back. So part of their losses will be because of interest free overdrafts they had to give, and loans they think people will default on all due to COVID-19.
A click is a click. Whether it is on an advert or a paywall signup link Traffic is the currency of the Internet.
This
I very much doubt more than half of those customers will continue to pay once the trial ends
And I bet 94.25% of them will carry on paying.
We can all make up numbers.
Is it just me, or does the gradient on these cards have some randomisation to it so they’re all unique?
It looks different on every card I see.
It’s not a static print - the cards have a faint shine to them and renders are meant to represent that
I get that, but despite the shine and holographic layer that messes with the hue depending on lighting, my gradient is static (it doesn’t move around), so I can always clearly identity which part is lagoon blue, and which is the midnight one. For me only the bottom right corner is that lagoon blue shade, which on those renderings it appears in the middle, and sometimes on the right. In some of the lifestyle press photos the gradient is different too. On some photos I’ve seen on Twitter it looks on different places too.
Probably is just the shine playing tricks on my eyes though.
(thought this probably fitted into the ‘media’ section)
It really is ‘all change’ at Monzo towers.
That feels like a significant loss for Monzo. Tristan has been around forever. Marketing is an area Monzo excel at above most.
He’s still only 28!
That makes me feel soooo old
Fits nicely with all the recent “Monzo need to change everything” vs “I cannot believe Monzo are changing anything” posts
“Monzo marketing chief steps down amid doubts over bank’s future – CityAM” https://www.cityam.com/monzo-marketing-chief-steps-down-amid-doubts-over-banks-future/amp/?utm_source=dlvr.it&utm_medium=twitter
Oh jeeez me too!