Chris Arning’s Post

👨🦰 How to Get Thousands of Users for Free: A Growth Hack from Monzo Bank 🏦 Here’s a clever growth hack from the UK’s online bank, Monzo Bank, that helped them rack up tens of thousands of new registrations. When Monzo first started issuing credit cards, they ran into a little problem—demand was high, but physical delivery took time, which created a waitlist. Instead of seeing it as a drawback, their marketing team flipped it into an opportunity. They introduced a "waitlist tracker" where users could see their position in line. And here’s the kicker—you could jump ahead by referring friends. The waitlist became an online game, and the referrals came pouring in. What started as a delivery bottleneck turned into a viral marketing strategy. Monzo has used the system to encourage signups and to grow from 0 to 250,000 users within two years. And the best part? You can apply this tactic to all kinds of businesses. Give it a try! #growthhack

Monzo Bank have completely SMASHED Splitwise Inc. by truly knowing its customer. (Hands down the most important thing in marketing). This is how Monzo won: I lived with 3+ friends for around 8 years. For at least 4 of those we kept on top of bills and money-owed by using Splitwise. An app that lets you to track shared expenses. This January I went on holiday with a friend. We created a Splitwise. But after adding 3 payments we were told to upgrade to ‘pro’ to add more that day. Inconvenient. The other inconvenient thing about Splitwise is that it isn’t integrated with any banks. → You have to leave the app to make a payment. → Then go back to the app to click ‘settle up’. So, when I went on holiday last week with two friends... We tried Monzo instead and opened a ‘shared tab’. It SMASHED Splitwise. 💰 You can add limitless expenses 💰 You can easily add payments made on Monzo 💰 You can ‘settle up’ using Monzo directly Monzo knows what’s important to it’s customer: EASE. And, by making things as EASY as possible Monzo keeps it’s customers on their app for longer. So... Sorry Splitwise, I’m a Monzo shared tab girly now. #fintech #marketing #userexperience

Ever wondered how Monzo Bank went from fintech disruptor to a household name? Spoiler: it’s not just the hot coral cards! 🎨💳 Monzo’s marketing team is doing some seriously cool stuff, and this year they’ve DOUBLED their marketing spend, seen a 31% increase in customers and…wait for it…reached profitability! 🤩 From shaking up the stuffy banking world with relatable, playful messaging to building a community that’s all in, Monzo’s showing us that bold moves and customer-centricity pay off big time. Curious to know how they’re doing it and what you can learn for your own brand? 👀 👉 Our latest article is giving you the inside scoop on EXACTLY that. Check it out here https://lnkd.in/eSxddnBA #Monzo #MonzoMarketing #MarketingStrategy

What should a brand do when they are already popular? Well, we can't speak for everyone, but Monzo used their popularity, to gain more popularity. They launched their biggest campaign to date. The sharp cuts and colour changes, equates Monzo with an emotion - happiness, bliss, success. It follows a classic us vs them formula carefully masked under a witty tone. What do you think of the Monzo campaign? #monzocampaign #digitalbankmarketingcampaign #usvsthem #webzenia #ourinsights

How Monzo Bank turned banking hot coral… 🔥 The go-to-market story of one of the UK’s top challenger banks was aimed at doing one thing. Turning customers ➡️ brand advocates. The first step? 💳 Generate buzz within existing networks. Monzo kickstarted word-of-mouth referrals by distributing pre-paid cards to influencers and enthusiasts, leveraging their strong offering. Add referrals to build a community 🗣️ When users downloaded the app, they were added to a waiting list. The only way to move up the queue was to refer friends, adding fuel to their word-of-mouth strategy. Keep the buzz going once they're customers 🔑 Monzo then distributed “gold tickets” (inspired by Willy Wonka) to customers, allowing them to invite friends to skip the waitlist and gain instant access to Monzo. Today, around 80% of Monzo’s customer acquisitions come from their referral program, with the remainder driven by paid media. 💸 AJ Coyne recently said on the Uncensored CMO - Monzo customers are true advocates, being seven times more likely to use the word "love" when talking about Monzo compared to any other bank. #growthmarketing #fintech #brand

Wise sent me this email this morning telling them they're gonna give me back some money. Now that's when messaging + product + marketing works well in tandem. This is a prime example of how great fintech never loses their customer focus, despite their late growth stage. Something I'm always reminded to when I see get emails and messages from Ramp. And something I unfortunately see (A LOT) less when interacting with Monzo Bank customer service — slow response rates, even slower resolution times, etc. Companies like Wise are setting a precedent. This approach not only drives engagement and retention but works as a product/messaging differentiator in a competitive market. Doing this when you're late stage or public company is even more admirable.

Monzo Bank just turned their data into delicious, contextually relevant, genius! Today they unveiled the world's first Greggs Sausage Roll ATM! Why is this brilliant? 🥖 Data-Driven Decisions: Monzo analysed customer spending habits (remember Monzo Wrapped?) and discovered their customers outside London love Greggs. 🥖 Hyper-Relevant Partnership: They leveraged this data to create a unique partnership with a brand their customers adore. 🥖 Creative Marketing Campaign: The Greggs ATM isn't just a gimmick - it's a clever marketing campaign built on customer insights, and a rewards partnership that their customers will actually benefit from. Data-driven marketing strategies don't have to lack creativity - case in point and a job well done! #monzogreggspartnerships #datadrivenstrategies #clevermarketing

What’s the secret to Monzo’s rapid success in recent years? It’s all about their bright pink cards. Humans are naturally inclined to follow the crowd. Seeing someone with a distinctive Monzo card boosts confidence in the choice, even without rational evaluation. A study by researchers from the University of Groningen supports this concept. They found that people are more likely to litter if they see others doing it, showcasing the power of implied social norms. Monzo masterfully leveraged this social proof with their eye-catching cards. But they didn’t stop there. They also tapped into the principle of scarcity. Founder Tom Blomfield limited customer numbers at launch, creating a waiting list. This scarcity made the cards even more desirable. Monzo’s ‘Golden Ticket’ tactic took this further. Customers could invite just one friend to skip the queue, driving demand and boosting sign-ups. Monzo’s approach shows the power of visibility and scarcity. By making their product stand out and appear limited, they created a sense of urgency and trust. What are your thoughts on this? Comment below. [Image Source: Financial Times]

How this hot coral card changed everything🤯 Launching in 2015 (when I was 10 🥳), Monzo Bank jumped into a gap which was ripe for DISRUPTION 🧨 People were getting fed up with banks…. Trust was at an all-time low at only 37% Problem? Banks hadn’t kept up with the digital age… clunky apps with limited functionality, customisation and poor customer service How did the Monzo team do it? That coral card speaks for itself… A conversation starter. Intrigue = envy. Waiting lists, hype.. the lot. Real focus on UX too. 🪸🪸 Early adopters of the community culture. In-person meet ups. Online forums. Approachable tone of voice. Word of mouth referrals were the real winner here 🏆 The team have relentlessly scaled up and have hit over 9 million users… 🚀 Anyone else see PerfectTed as the Monzo Bank of the drinks industry?? Watch this space #monzo #banking #finance #perfectted

So I bank with Monzo Bank. And their rise to being a successful bank tells us a lot about disruptive brands. 1️⃣ Be Distinctive Separate yourself from the bunch and stand the f⚠️k out. Monzo manages this in communication, just check out their excellent social media game, and physically, in that you can tell a Monzo card from the other side of the room. 2️⃣ Meeting users where they are rather than where you think they should be Banking was clearly a building, a cash point, a badly made digital experience. Monzo being mobile-first in approach was a winning move, as the established banks were (and in some cases still are) a few years behind. 3️⃣ Solve user problems that are minutes, hours, or days in timeline, not weeks, months or years. I've been pitched a lot of ideas, and while an idea can be good, it is hard to get traction if the problem you are solving only delivers value in the long term. When I went to create a business account with Barclays, they gave me a massive form to fill out; I didn't get around to it. Monzo, on the other hand, in the app, just asked me for my name, my business name, and my company number, and I was up and running.