Monzo aren’t the first to have offers showing in the feed. The Halifax rewards also show up my account transactions attached to certain transactions. Here’s an example of shopping at Sainsbury’s giving a £3 cash back offer when spending £30 at Waitrose.
That’s exactly the kind of thing that would annoy me, esp. since the nearest waitrose is miles away… it’s just a competitor attaching their adverts to sainsburys (and I bet halifax were paid a lot of money for that).
Attach sainsburys offers to sainsburys, and it would make sense.
Santander 123 account shows ‘related’ offers in exactly the same way on transactions screen and mostly offers Waitrose and Morrisons if I use my card at Tesco or Sainsbury’s. And then they have a separate offers section which is offering £50 cashback for a switch to First Utility.
Some of these aren’t personalised. Hello Fresh (whom I actually rate and would recommend) offer discounts to new subscribers constantly. It’s their basic loss-leader business model. I would guess this offer isn’t in any way personalised to each Santander customer (I’ll bet it’s just get x% off first order) in which case you’re just being served another pointless channel of advertising.
Whilst it was understandable initially, it’s all getting a little bit tiring seeing endless “gimme a referral” links appearing on this thread. Can this not be halted or at least a new thread for this kind of thing created so that those who want to learn about Monzo’s energy offers don’t see these clogging up their feed?
Maybe someone could create a web app which allows everyone to enter their referral link and then when someone needs one the app can give them out at random, giving everyone a fair chance at getting their referral bonuses without being spammy.
I understand what you mean - but isn’t that what Sainsbury’s nectar coupons that they give out when you pay are doing? They want to retain you as a customer, rather than win you as one. Smaller pay out (points not cash) but they are still giving an offer to an existing customer. And sometimes it is ‘cash’ (kind of) when they give a ‘get £1.50 off your next shop if you spend over £15’ coupon.
Absolutely, but as you note - the payouts are lower and setup such that you have to continue shopping to get them. Buying loyalty, in other words. And Nectar points? Nectar is the one supermarket loyalty scheme I don’t even bother with. The hassle of scanning a barcode is far higher than the 1/10,000th of a penny the points are worth (note - slight exaggeration on value).
You link your Nectar card, it gives you points every time you shop without you doing anything.
The offer from Sainsbury’s to those Monzo sees shop there but do not have a linked Nectar card could then be a ‘get x extra points if you link your Nectar card to Monzo’ - as Sainsburys want more people to actively use the Nectar scheme. If you don’t want to you dismiss and ‘don’t show me again’, but in theory you do it once and then get some value each time you shop with zero effort.
Or Sainsbury’s experiment with actually offering minimal pure cashback - again small because of aim to retain not to win, but still has value to the customer. I suspect Sainsburys would not want to try this though.
Getting into too much detail - my point is that Partners do have small reasons to attach their own offers to their own customers.
Just made the switch using a referral code from above. Straightforward sign up process so far! The estimated price was far less than I’m currently paying - but then again I have never switched before, it was about time!.