Why this Bank Created its Own Social Connection Platform

Partner | Inside Life
February 4, 2022

Whether by necessity of the COVID pandemic or the proliferation of the internet, social media platforms have gradually found their way into various aspects of our everyday life, from connections over Zoom with colleagues or sharing Twitter Spaces with friends to discuss the latest episode of your favourite TV show, it has almost entirely replaced traditional media with the increasing popularity among users.

Letshego, being aware of the power of digital connections, therefore launched a social connection platform called LetsGo Nation that gives customers a space to connect and reach out to people with similar interests and passions.

Very few banks are keen on taking things a step further by offering beyond-banking services like this. If you wonder why a bank has put in this effort, here is why this makes sense to do:

Personalised Experience

A platform like LetsGo Nation provides a personalized experience for the user, as these users congregate around different passion points, they form connections that give Letshego greater insight into what their customers care about. This then enables Letsgo to develop products and service offerings that meet customer needs & add value to their lives.

Image: Freshrelevance.com

Increased Customer Base

In a world where there is huge competition and need for differentiation between financial institutions, a social connection platform allows Letshego through LetsGo Nation, to reach a new audience, since these customers were acquired through such a personal connection, there is a deepened partnership with these customers.

Youthful Customer Base

LetsGo Nation is designed for young users (18-30 years) who are the future of Africa. Connecting with them early and beyond the banking walls provides a generation of customers who are already comfortable and trust the Letshego brand.

Cross Selling Products

The passion points for connections on LetsGo Nation range from business, agriculture, affordable housing, affordable Health to gaming, cinema and travel. This diverse range of interests offers Letshego a unique opportunity of cross selling products and services that meet these specific needs. Furthermore it provides useful data for the bank to develop new products using real first-hand data.

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