Fintech 11Onze’s Facebook-like ‘La Placa’ attracts over 10,000 members
11Onze community fintech, which successfully launched its unique social network platform La Place this year, has attracted over 10,000 members in three months, doubling its original target. The platform – a learning management system (LMS) for financial literacy – has been a big success with the community, clocking an engagement rate of over 96 percent.
11Onze’s mission is to develop a system that will make the community financially literate and secure. It achieved this with a targeted social media campaign and a repository of exciting, interesting and animated content which has been well received by the community. La Place covers a range of topics from how banking rates are set, how to protect yourself from online scams, what are the investment trends for 2021, to how to set up your own outdoor cinema.
Since its launch this April, 11Onze has captured people from across generations, with a good percentage belonging to Generation Z. It has also attracted local businesses, professionals, and community leaders.
“We are genuinely pleased by the overwhelming response from our community,” said James Sené, Chairman 11Onze.
“This is exactly what we wanted to achieve – create a safe and vibrant place for people from all walks of life to learn, discuss, like and share their knowledge and thoughts. While the average ER for a neo bank or fintech is about 3-55 % , we have seen over 90 % engagement rate on our website and social media platforms. On the heels of our success with the learning management system, we are launching our banking services. Our aim is to arm the Catalan community with financial security and banking support. Small and medium businesses and individuals who believe in community projects, development and growing together in a sustainable environment are our core members. We are excited about our next phase of growth.”
To date, 11Onze uploaded over 250 videos and 700 online posts in 3 languages (English, Catalan, Spanish) and has seen its record engagement rate (ER) on the social media platforms including Facebook (299,90%), You Tube (133 %), Twitter (88%)and Instagram (95%) shoot above market expected rates. This flies in the face of social media engagement enjoyed by its competitors such as N26 and BNEXT.
Gemma Vallet, Head of Marketing, 11Onze, is pleased with the overwhelming response from subscribers.
“It’s never easy to launch a new product, especially a fintech product like La Placa. Our objective was clear – to introduce a service that would bring enlightenment and knowledge about banking and financial services to the Catalan community. Considering today’s social media algorithms and restrictions in targeting people, the level of engagement and number of visitors reached by La plaça, in such a short time is clearly a success. The level of engagement of 11Onze followers is similar to well-known fashion or entertainment brands such as FCBarcelona than a banking brand. This is unprecedented. We only had a small budget and our target was to get over 5,000 members and I am pleased to say that we have doubled it already!”
11Onze agents – who are key activists on the platform – have successfully attracted a following in their areas of expertise. While agent David Lopez explains what bonds are; agent Jordi Sánchez Recasens addresses doubts around tax returns. Members who interact, engage and share the information on La Place earn Peles, 11Onze’s digital currency, which they will soon be able to use for buying services and products.
As 11Onze prepares to launch its banking services, its core members will become its core customers.