London-based digital bank Monzo has just unveiled its first brand campaign in five years with the help of creative agency Uncommon.
Founded in 2015, Monzo quickly became the U.K.’s biggest digital bank servicing over 9 million customers.
Recently, it also raised £500 million to expand to international markets, particularly the U.S.
Central to the “Money Never Felt Like Monzo” campaign is a one-minute spot that highlights the message that using its banking app takes the stress out of banking.
The commercial, which premiered in an ad break during “Britain’s Got Talent” on Sunday, shows a series of exaggerated visual comparisons of what managing money feels like when using other banks and Monzo.
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Some of the more eye-catching Money versus Monzo visuals in the hero film include:
- An employee banging his head on his keyboard vs. breaking a wooden board in an expert karate move
- A tarantula creeping on a man’s head vs. being massaged by a headscratcher
- An elderly couple and their dog freezing on a bench vs. sipping coffee and relaxing by the beach
As the beat of the music becomes faster, more images flash and the climax hits with a man desperately rowing a boat in the desert.
We then see an abrupt contrast as the tempo slows down, the mood becomes relaxed, and the man is now lounging on a chaise at the beach.
The spot ends with the message: “Money never felt like Monzo. Download your new favorite bank.”
Developing Monzo’s Brand Campaign
According to a forum post written by Monzo’s brand team, the banking app has relied on word of mouth and “below-the-line” strategies in the five years since its previous ad campaign.
But there is now a need to shift this strategy due to its demographic change, with its customers now averaging 33 years old and 70% living outside London.
“Although more people than ever before know of Monzo (‘aware’), they’re not as familiar with Monzo or what we do best (‘consider’). Folks know we’re a bank, but not how or why we’re different, and how we could benefit them,” the brand team wrote.
“We now need to reach broader audiences and inspire more of the U.K. to reappraise Monzo as an established bank that can meet their needs.”
This time, Monzo wants to capture the difference the digital bank makes in people’s lives based on gathering customer feedback.
“Across the country, money evokes a variety of feelings, usually stress, anxiety, avoidance; however, our customers tell us that on Monzo money feels different, so much so that they’re seven times more likely to use the word ‘love’ when describing us than any other bank,” Monzo VP of Marketing AJ Coyne said.
UncommonStudio Co-founder Nils Leonard also expounded on the meaning behind the campaign:
“Everyone talks about money, but we never talk about how money makes us feel. Monzo aren't just making things easier and innovating in this space, they are looking at the bigger picture,” Leonard shared.
On top of TV and radio, the campaign will also be spotted on billboards, print ads, social media, and other digital executions in the coming weeks.
