Driven by the belief that financial inclusion should include everyone, LOQBOX offers thousands locked out of the financial system a way to build their credit history and boost their borrowing power for free – just by saving as little as £20 a month.

By using savings to prove people can handle credit repayments, LOQBOX is a simply clever way for anyone to build their credit history without paying a penny. A uniquely useful product that no one else in the world is offering.

Working in total partnership, Dare and LOQBOX both benefit from successes across all channels. This very different kind of client-agency model drives Dare’s approach to this project: to develop a new brand, new website and a robust marketing structure capable of launching a completely new product and selling LOQBOX’s story to investors.

The Brief and Objectives:

- Create a new brand including all visuals and tone of voice

- Launch a new website at LOQBOX.co.uk

- Increase brand awareness through social channels 

- Establish LOQBOX as financial experts through the creation and distribution of informative blog, email and other free content

- Achieve profitable conversions as soon as possible in the life cycle of the product

- Generate leads and conversions through paid advertising

- Attract further investment by demonstrating a robust marketing plan that already generates profitable conversions

Strategy:

Dare’s strategy for LOQBOX stems from understanding a range of key personas – each affected differently by poor credit history – enabling us to create multiple strands of data driven marketing activity targeting each group.

Driven by data

Data is solidly at the heart of what we do. We measure everything, so we always know what’s working and what isn’t.

Valuable content

We offer free, expert content to LOQBOX customers.

Test and test again

We’re using tech to drive multiple tests exploring every possible way to get people to the LOQBOX.co.uk site – and keep them there. We review CPA rates on a daily basis, continually optimising week after week.

We apply the same approach to a single ad as we do to whole channels, which include AdWords, social, emails and blog posts – with more to come in the future.

Results: 

LOQBOX has already helped over 20,000 people on the path to true financial inclusion – averaging a 44% growth in sales month-on-month since February 2018.

All of which has helped LOQBOX secure £500k of investment funding to help more people achieve real financial inclusion.

Our decision to offer free, valuable content is paying off: our Credit Fit Checklist PDF alone saw a nearly 25% conversion rate.

And our Agile strategy of test-and-learn is vital to LOQBOX’s continued rapid growth. Our A/B multi-variant test data has helped us increase conversion by 35%.

LOQBOX has forged partnerships with TSB and MoneySavingExpert.com, and has affiliate deals in place with the likes of uSwitch.com. They won the Financial Inclusion category at this year’s DigitalAgenda Impact Awards, and are shortlisted as a top-ten finalist to win Fintech Innovation of the Year at the Digital Leaders 100 Awards. Their profile has also been raised by features in Which?, the Mirror, Debt Camel and Metro blog.

With the first customers coming to the end of their year-long journeys, LOQBOX has a 4-star Trustpilot rating, and initial responses from a recent customer satisfaction survey are positive – with 85% saying they would recommend LOQBOX.

From our customer satisfaction survey

“It was honestly the quickest, easiest thing to set up. My credit score has gone up 31 points and it’s because of LOQBOX.”

Abigail in Devon

“It was proper easy. If anyone’s got a bad credit history, I think it’s just a great opportunity that helps you prove to the world that you’re trying to improve yourself.”

Sahr in London

“I’m glad someone like you has come along and is actually on the side of the customer.”

Brian in Cambridge

From Trustpilot

“★★★★★ Fantastic for expats building credit in the UK

“I moved to the UK from the US and had to start over. I signed up with LOQBOX and my first credit score is 786! Now I’ll be eligible for better credit card offers so I can continue to build my credit.

“They also have a learning series they send out so you can learn more about how to build 

credit in the UK.”

Zuzanna