vs. Earnest
SoFi
Membership that turns borrowers into cross-buyers
- What it did
- Events, job help, unemployment forbearance (2014-17)
- Earnest
- One refinance product plus personal loans, dropped in 2020
The company invests in broad brand advertising (TV, Super Bowl, national campaigns, mass digital brand work) as a main route to demand, not only performance ads.
Broad brand campaigns make the company the name buyers already know when they start looking, reducing the cost of each later acquisition.
From the win chains in Strategy Canon case studies: what the winner did, and what its rival did at the same step.
Membership that turns borrowers into cross-buyers
Outspend on brand, then buy the #2 audience
Mass lifestyle brand that normalizes the condition
Also tagged: Airbnb · Kayak · Squarespace · Wayfair
| Author | What they call it / where it appears |
|---|---|
| Helmer | The long road to Branding |
| Weinberg & Mares + | Offline ads |