Pioneering the future of finance
Next-generation financial services
Winner of The Sunday Times' Tech Track 100, Wonga has enjoyed phenomenal growth at a time of rising frustration with the traditional financial services industry. But while their short-term loans have been immensely popular with customers, the company’s approach has proved quite the opposite with some MPs and journalists.
We’ve heard claims that Wonga’s “sky-high APRs” “prey on the vulnerable” by “making money from defaulters”. But we’ve seen the data, and we know these assertions are both short-sighted and ill-conceived.
So while we’ve been challenged with helping to maintain the business’s momentum day to day, we also need to help overcome broader misconceptions held about them.
Straight talking money
Wonga's short term loans are simple. You decide how much you want to borrow and when you want to pay it back.
In a category riddled with complex language and equally opaque systems, our creative strategy needed to be similarly simple, yet communicate Wonga's radically different approach to financial services.
'Straight talking money' does both, and was wildly popular in research – even with people who were initially sceptical of the Wonga brand.
Our creative platform for Wonga needed to have cut-through. It had to be creative enough to lead the category, interesting enough to get people talking, and grounded enough to give a good idea of the product.
The answer was a trio of octogenarian puppets: the Wongies . They speak their minds in a way that only older people can get away with, have an endearing fondness for drum 'n' bass, and perfectly represent the idea of 'straight talking money'. After all, grannies never mince their words, do they?
We're constantly evolving the campaign - not just developing new creative, but every new piece of content we produce is optimised for acquisition and delivering the brand values.
You've probably seen some of the buzz about the Wongies on Facebook and Twitter. It proves that perceptions of Wonga are moving in the right direction.
Our TV ads have also outperformed the brand's previous DRTV work, which had been optimised over several campaigns.
As well as the Wongies TV campaign, we've run some simple ads explaining 'straight-talking money' and dispelling prevalent myths about Wonga.
Watch this space
Wonga have big plans. They're pretty open about their ambitions to expand into other products and markets, and as they do, we'll be right alongside – working on the brand and marketing strategies that will help them keep growing.
We're looking forward to seeing Wonga fulfil its potential as the UK's next tech success story.