As part of The Drum’s Finances & Utilities Focus, Monzo’s VP of marketing, AJ Coyne, shares how the banking startup is using brand marketing to reach the next stage of growth.
Monzo shot to fame in the UK nearly a decade ago as the bank that took the stress out of payments on holiday. Now, though, it needs to stand for so much more than that.
Speaking during a fireside chat at The Drum Live 2024, Monzo’s vice-president of marketing, AJ Coyne, says the bank has grown “exponentially” year-on-year, boasting 10 million users today, but has hit a point where it needs to scale. Coyne says, “Monzo can’t do that in the same channels that it worked on in the past, and so above-the-line, high-reach media, investing in brand, is critical to that success.”
The bank tasked consultancy TwentyFirstCenturyBrand to write its brand strategy, understand its key attributes and …