The Day I Scored at Work
Nathan Levi, 3 mins read
Last week we unleashed our free credit score and report on the world (apologies for the brazen and shameless link bait).
This is a new and very exciting product launch and my first as CMO at TotallyMoney. Every CMO relishes a new product launch, and I’m no exception. So here it is.
We believe our personalised, data-driven service can help people improve their credit score and get better financial outcomes.
My first task as CMO was to understand as much as possible about our potential customers. I spent a lot of time talking to people about why they would sign up for a credit report in the first place. Many said they just wanted to see their score; they were inevitably curious to see how credit reference agencies rated them. However, when we dug deeper into their financial motivations two triggers really stuck out.
The first was a desire to sort out a current financial situation, be that paying off debt, buying a car, or getting a mortgage. The second was to start saving money. These were particularly strong triggers for our younger audience segments.
What struck me was that the credit score is a prompt for people to take their next leap towards an improved financial outcome, be that getting a mortgage and owning a house, paying off debt by transferring a balance, or putting more money away for a rainy day.
The credit score in financial decision-making acts as a stepping stone to what are often significant life changes. Incredible what a three-digit number can do.
The beauty of technology-driven finance products is that they put live, actionable information into people’s hands to make better financial decisions. This is exactly what we are doing with our free credit report. The guess work has gone.
All we need to do now is tell people about it.