I have been looking for a new online bank. I came across Monzo They claim to be the bank of the future. They currently offer instant payment notifications, built in budgeting & fee free travel. They have recently got their full banking license and will be rolling out current accounts soon.
I downloaded the app. It seemed very easy to use but the best bit was that it showed me how many people are ahead of me in the queue to get a Monzo card, how many people are behind me and more importantly, how I can bump myself up the queue.
When you hit the bump me up the queue tab, you then get your personal invitation link to send out. For every friend who signs up, they will move you up the queue by at least 4000 places.
— Mark Shaw (@markshaw) August 7, 2017
I think this is a fantastic way to market their business and so easy to action for their fans. They made it easy for me by giving me the link that I can use on Twitter, Facebook and other social media platforms as well as emailing all my friends if I wanted to. It also tells me a lot about them as a company. They’re forward thinking and happy to embrace social media as a marketing channel for their business. They may well be a bank but already they are separating themsleves from the competition. They seem very engaged with their community and this marketing strategy is so simple, costs them nothing but gets their message out from customers.
I have said many times a business talking about themselves has so little effect on customers perceptions of them compared to when customers are shouting about them from the rooftops. The impact is far far higher as people trust their friends and networks far higher than brand themselves.