Behind the scenes
Twitter on fire with people saying the ads were on between Love Island (I don’t watch it I swear).
It was also on at half time during the Netherlands v England match tonight.
I suspect it may be too commercially sensitive, but I’d love to know whether Monzo consider the TV campaign a success.
I vaguely remember @simonb saying there would be figures available within the first 10 days or so that’d give an indication of how well things have gone…
There’s definitely been an uplift in signups would be interesting to hear Monzo’s thoughts on whether it was as or more successful than expected though
I don’t think it’s commercially sensitive, ultimately you could easily extrapolate the data yourself just using the numbers on the homepage and that graph that’s floating about…
We plan on publishing a full post about the results of the ad around the end of this month, I believe!
What I will say for the moment is that the uplift from the ad meant we crossed 200k signups in a single month (May) for the first time and the trend is continuing. If we can maintain that number, and I think we can actually still increase it, we could well be looking at 5 million users in a year from now, which is pretty mind-boggling to think about. And that’s without factoring in international expansion (something which we will be updating you all on very soon).
The other cool thing is that salaried users continue to grow as well. That puts us in a really great position moving towards profitability, and we have some great features in the pipeline (some of which a few of you have already found in tear downs) that will really accelerate this
@simonb do you know if they are going on youtube as well?
I thought they already were? Here’s the main one. The shorter ones are around somewhere too.
No I meant as Actual adverts
Just watched the ads on youtube and must say, did a couple almost spitting beer at the screen things. Love them! Been talking about Monzo since I found them in the Wall Street Journal and did some research and then found a job ad. Guess who’s doing the take home task! Yay! Cannot wait to get in on this. Ignites my entrepreneurial spirit.
Good luck Laura
RIP TV ads
Saw a few full ones last night - didnt realise they were the last of them
It’ll be interesting to see if signups drop back down over the next week or two without ads.
Yesterday was Monzo’s 2nd highest day ever for signups (just 130 short of the highest).
The impact on sign-ups was immediate. June was “by far” Monzo’s biggest month for sign-ups, attracting more than 250,000 new customers, up from 150,000 a couple of months before. And prompted brand awareness increased 13 points from 35% to 48%
Monzo doesn’t charge a fee for using your card abroad yet they completely missed that in the TV advert!
Whoever is in marketing at Monzo needs to be fired!
Not being charged is one of the best things Monzo does that other banks don’t. So if someone senior is reading this in Monzo; get yourself some new Marketing people!
I think this may have been intentional - they don’t want to be that little card at the back of the drawer you dust off each time you go abroad. So many of these accounts are used like this. These accounts cost money in this setup. They want fully immersed current account users. These accounts make money.