Antoine Le Nel
speaker
219 appearances
1 recordings
1 series
first heard Oct 2024
last heard Oct 2024
Antoine Le Nel’s voice in public audio — every appearance, attributed to the second.
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Sorry, I'm really naive. I'm a venture capitalist for a living. What is in the upper funnel?
That's the brand marketing. So the brand marketing. I was not sure about what that was bringing and so on. Neither is the brand marketing team.
They're hoping no one notices it.
And then I came at Revolut and we did not start it at all with any brand marketing and so on. And now we're testing it. We're doing more of it. And it really works. Do you know it works?
And do you know what bit works? Yeah, yeah, yeah. I know. I mean, it really works. It really works. But the hard thing is, do you know whether it's being on a billboard or being on an F1 car that works? Because the attribution is limited. How do you know it works? You have multiple ways to look at it.
So what we do in airport, which is pretty cool, is that we do the advertising on jet bridges and so on. If you've been to Rome airport and so on, for example, we've launched something really cool there. But next to it, we put vending machines. So you have vending machines in the airport to collect your Revolut card.
So you just go on the vending machine, you press the button and you just get the card, you know. So it's an anonymous, I mean, unlinked card. You just take it, you scan the QR code, create the account, and then the card is automatically linked. Then I can really link all my activities and get a huge ROI from what I do. Wow, I mean, that's pretty good for HP. Yeah, it's pretty cool, right?
But it's the same, you know, like as well, we do a lot of, we do some influencers and so on, you know, but like what matters is how you manage your attribution, you know, and I think we're pretty good at getting the attribution done and knowing what works, what doesn't work. Many things don't work, but at least I know what works and what doesn't work. What's been the biggest flop?
Where you look at it and you're like, oh... The biggest flop, I mean, there's been some influences that just didn't work at all. Like, I mean, it was the early days and we tried to do something that we thought was cool and so on.
I think doing some big brand campaigns with some, let's say, some celebrities that are just not necessarily super good with social media, let's put it this way, that just doesn't work.
So it's, you just learn, you know, you just learn. That is it. Okay, so what did you change then from the King playbook? You said there about kind of Apple funnel and I interrupted you saying what is the upper funnel? What did you change from that playbook with King to Revolut?
Yeah, so investing more in this brand campaign was the big thing and really identifying the ability that the brand marketing can improve your conversion metrics. That was quite an insight which has worked really well. That is making us do more of it. Can I ask, what's in the mid funnel?
The mid funnel, this is where, at least the way I look at it, it's the place where you can run some level of attribution, but you have a strong halo because of the high reach that you get and you can develop as well some deeper content. So, performance marketing is basically banners or super short videos, you know, like six seconds and so on.
So, you don't really build anything in terms of, let's say, product awareness, brand consideration, likeability, and so on. You don't build any of that.
So what you say is that right away you play the full funnel because you have a big branding impact, but you are revenue generator right away, you know, which is the exact opposite as the Formula One thing where there's no revenue, there's nothing, you know, it's like it's pure brand and so on. And that's what I call a bit mid funnel. It's activities that help you do a bit of everything.
Like suddenly you do some brand, but at the same time you do conversion and you drive and you drive revenue, you know, so you take it all. And then Sorry, lower funnel. Lower funnel is what specifically? It's mostly like performance marketing, affiliates, the referral program, you know, and stuff like that.
You know, this is where you really drive and you have full attribution, meaning you know exactly what you pay for.
In growth teams, are there people who are specialized in each segment? Do you expect people to be skilled at all three?
No, no, no, no. I'm a strong believer of specialists. People should be experts in what they do. And generalist marketers are good in managerial positions, but not at doing things necessarily. And that's why we have people who are experts in mid funnel, experts in lower funnel, experts in upper funnel, and so on. But very, very few people have an oversight of all of it. Very few people.
When you start a new market, I think one thing that people don't see enough is just Revolut is crushing internationally. They're crushing. When you start a new market, does that whole funnel start again? What does that growth plan look like? Yeah, you start from scratch.
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