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Monzo’s One Cent Campaign
Campaign Performance - The company implemented a "1 cent campaign" with incrementally increasing daily savings, reaching $6 at year-end, designed as an automated savings method [1] - Initial expectations for the campaign's success were moderate, but the actual results significantly exceeded predictions [1] - The campaign's success was attributed to its appeal to users' sense of self-benefit [2] Behavioral Economics - The campaign effectively created a positive habit, similar to going to the gym, by overcoming user inertia in saving [3] - The combination of promoting a beneficial action and reducing the effort required for users had a substantial impact [3] - The emotional component of the campaign played a crucial role in its success, surpassing the impact predicted by numbers alone [4]