Daily Fintech Conversations

Why sign up on Marcus, Goldman’s consumer debt-consolidation offering?

Watch the four 30sec ads that Goldman Sachs is rolling out for their new consumer lending offering, Marcus.

My favorite is the Interest Rates Are Not Created Equal!

The ad agency that produced these is the same one used by Apple.

Which is your favorite?
What do you think of the messaging?

MARCUS has chosen its target market well - credit card debt.

The business is mature enough to provide sufficient market growth and credit risk evaluation is one area prime for an efficient alternative (vis-a-vis offline branch/phone channels).

Based on the overall themes of the ads, it appears the 32 to 45 age group is the target segment, exactly those who have racked up enough credit card debt for these ads to resonate well with.
I personally like the idea - will be curious to monitor sign up numbers.

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Marcus’s offering is Simple, no fine print, no clauses.

  • The consumer pays a fixed interest rate on the loan (which includes a profit margin for Goldman). It has no complexities (APRs and all the usual hidden in a credit-card type of arrangement).
  • It is simple and clear. No fees for late payments.
  • It is transparent and simple! No credit-score changes! There is nothing hidden, no optionality (hiding misunderstanding and potentially Goldman outsmarting the user).

It’s a no-brainer, and will further suck out the wind out of many emerging (submerging?) alternative online lenders. A big elephant in the room, with guaranteed casualties to follow soon.

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Great Advertising. Its feels almost sincere. Bringing the sheep to the wolf’s den.
The trend of behavior change ( 18 - 35) seems to affect also GS. The kids of GS clients (the dis-connected generation) want value and not the shiny name (tarnished). The brand of Marcus appears to be a good hedge (diversification) for the future. It will be interesting to see if other “exclusive” WM will follow.