Question
Answer the Questions below, using the information on MyBond provided below the questions and further research on the company 2. Brand (Discuss the brand, discuss
Answer the Questions below, using the information on MyBond provided below the questions and further research on the company
2. Brand(Discuss the brand, discuss brand mandatories, values and positioning)
3. Current Marketing Communications(discuss the current marketing communication, what is the current integrated marketing communication mix that the company is using, is it successful) -
MyBond Information
MYBOND STORY
Your client MyBond is an innovative new fintech disrupting the rental bond market. It was founded in 2020, with the aim of shaking up the rental bond market by providing financing options for people to manage their rental bond payments. MyBond is a new service that assists people pay their rental bonds, reducing the financial stress involved in moving into a new property.
Approximately 8.3 million people (32% of the population) live in rental accommodation and must pay rental bonds every time they move. This can be a barrier for people to move to ensure their living conditions fit their current life circumstances. The bond is usually equivalent to four weeks' rent - and needs to be paid on top of rent in advance. Even if someone is working and earning a good wage, coming up with bond money - at a time when there are many additional expenses - can be a financial burden that many renters struggle with. Therefore, MyBond service can help tenants pay their rental bond, giving them control in the way they pay for and manage their rental bond payment.
THE FOUNDERS
MyBond was founded in 2020 by Ray Dib, Joshua Theeuf and Matt Stone. The founders of MyBond are experienced entrepreneurs in the finance and technology industries. As hands-on entrepreneurs, they are well versed at nurturing start-ups to grow and mature into successful businesses and are passionate about helping people to improve their lives and financial situations.
Ray Dib, CEO and Cofounder, is a renowned business leader in governance, finance and insurance and widely recognised for his community work across Sydney. Ray is a change agent, passionate about helping people and businesses to improve their lives and financial situations. Ray cofunded MyBond as a way of giving back to the community through developing an accessible, discrimination free, finance solution.
Joshua Theeuf, COO and Cofounder, has founded technology start-ups in insurance and green power. An entrepreneur with experience in the start up and finance industry, passionate about developing and delivering new financial solutions. Joshua cofounded MyBond after identifying a need to disrupt the finance industry and offer products across the Australian rental market.
Matt Stone, CTO and Cofounder, has led and directed major technology deployments including greenfield opportunities and is passionate about developing innovative, online accessible services. Matt cofounded MyBond as a way of supporting people to take control of their living situation and reduce the costs of moving.
Who are MyBond's customers?
MyBond's customers are the millions of Australians who rent, most of whom are under 35. There are approximately 10 million households in Australia, with each household having on average 2.6 people, according to the Australian Bureau of Statistics (ABS). Our customers include young people starting new careers; families that are expanding or contracting; people looking to upsize or downsize or relocate to a new community and everyone in between.
Who can use MyBond's service?
Anyone - we don't discriminate. People might be needing to move due to an expanding family, new job or change in life circumstances. We partner with charities to assist those in need to move quickly into a new house as well as well as contributing to reducing the overall homelessness rate in Australia as a result of family and domestic violence. A credit check is not performed. However, we do have our own proprietary approval method.
Where are your services available?
Since March 2021 MyBond had helped over 500 customers across New South Wales, Victoria and Queensland. As we continue to expand across Australia and internationally, MyBond hopes to partner with individuals and families on their journey, wherever they may be in the world.
Our campaign message
"One week only"
People move for all sorts of reasons such as moving closer to work, school, university, into a larger place to accommodate a growing family or to start a new life. But, moving house costs money and these expenses quickly add up.
With rental bonds running into the thousands on top of all the other moving expenses, this can be a barrier to people moving into new accommodation to suit their changing life circumstances. MyBond helps by cutting the cost of moving. As people's lives change, we want to be a part of their journey.
We support people to make a change, take control and we open up options for managing finances whilst moving houses. MyBond makes renters lives easier by disrupting the rental market, giving people flexibility and choice in how they pay and manage their rental bond and allowing someone to take control of where they want to live and when they want to live there.
MyBond supports people through their property journey - bringing flexibility and control to people during the often stressful process of finding a suitable property.
Our motto "one week only"means that people pay one weeks rent and MyBond takes care of the rest. Our vision is to be the preferred and trusted partner throughout a renter's life.
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