• Subscribe
  • Contact Us
  • About LendIt Fintech News
  • Home
  • Menu Item
  • Menu Item
  • Menu Item
  • Menu Item

Lend Academy

LendIt Fintech News: Daily Coverage of Fintech & Online Lending


  • Editorial
  • Daily News
  • Podcast
  • Investor Forum
  • Events

SoFi Tackles Consumer Debts in New Ad Push

The online lender has started a new marketing push to highlight new product offering to millennials.

November 28, 2017 By Todd Anderson Leave a Comment

Views: 67

While relaxing over the Thanksgiving weekend you might have noticed a new trend occurring in television while watching the games: six second ads. As companies look for innovative new ways to get their products in front of consumers they have begun testing out ultra quick TV ads during a break in the game action.

Leading consumer lender SoFi has always been know for innovation and their recent marketing push is no exception. During the weekend of Thanksgiving NFL and college football games SoFi placed ads throughout many of the games. I saw quick form six second spots and as well as the more traditional longer spots. Not only is the form of the ad changing but the substance of the ads is just as innovative as they present their products in a new way.

SoFi is focusing their message on the consumers lifestyle, presenting an understanding as to why someone needed to increase their credit card debt. College tuition, a sickness or a home expense, these life events happen all the time and the message is that SoFi is now here to help you consolidate that debt in the form of a personal loan. They are clearly appealing to their core base of customers, younger and more affluent families as they hope to be their lifetime financial services firm.

They also placed a Black Friday circular with several national newspapers which you can see in the photo below. The ad is a clever take on the typical sales fliers we all see around this time of year. But instead of an ad featuring low prices we see an ad touting much higher prices. The message is that if you are buying gifts on credit cards this holiday season and carrying a balance you will be paying a lot more than the advertised price. It is a message focused on smart spending, giving a better look at the true costs of products when financed.

These new print ads are a conscious effort by SoFi to help consumers better understand how they spend and what debts they are taking on. They feature this URL: www.sofi.com/payitoff which sends consumers to a holiday themed website comparing the cost of a personal loan versus a credit card.

SoFi started out in student loan refinancing, a category they invented back in 2011. They have since morphed into a financial services company that offers a range of different financial products including debt consolidation loans. While SoFi has clearly had a set of challenges this year as their CEO stepped aside amid controversy, the company is still one of the leading innovators in fintech. Clever and unique marketing strategies is one way SoFi is able to remain a market leader.

Filed Under: Peer to Peer Lending Tagged With: debt consolidation loan, marketing, offline marketing, SoFi

Views: 67

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Investor Intelligence

Peter Renton's Returns

Investor Forum

Lending Club Review

Prosper Review

Investor Resources

Most Popular Editorials

The Pure Marketplace Lending Model is Dead, the Hybrid Takes its Place

The 2018 Lending Club and Prosper Tax Guide

My Returns at Lending Club and Prosper

Map of Available States for Lending Club and Prosper Investors

Banks and Marketplace Lending Platforms: Ideal Partners?

Subscribe to the Podcast

Subscribe to the Lend Academy Podcast on iTunes
Subscribe to the Lend Academy Podcast
List of Podcast Episodes

Archives

Follow @LendAcademy Follow @LendIt

ABOUT LENDIT FINTECH NEWS

LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

We are a team of fintech enthusiasts who have been covering the industry for many years. With a deep knowledge of online lending, digital banking, blockchain, artificial intelligence and more our team covers the daily news and writes in-depth editorials.

Recent Editorials

  • Top 10 Fintech News Stories for the Week Ending January 16, 2021
  • Podcast 281: Sean De Clercq of Kickfurther
  • Upgrade Launches a Rewards Checking Account
  • Affirm’s IPO Takes Off Like a Rocket Ship
  • Fintech Lenders and Banks Are Ready for PPP Round Two

Copyright © 2021 · Metro Pro Theme on Genesis Framework · WordPress · Log in